To give the original creators (who pre-mined something like 17 billion tokens) a...

EastSmith · on March 20, 2018

Unlike Ripple, where the pre-mined tokens are held by individuals, the pre-mined stellar tokens are owned by Stellar Development Foundation, a nonprofit corporation.

Here are some quotes, but do check the link bellow too:

"SDF manages the execution of lumen distribution, with oversight and direction provided by SDF’s Expansion Board. The initial lumens held by SDF are required to be distributed to the world in the following manner:

50% for distribution via the Direct Sign-up Program

25% for distribution via the Partnership Program

20% for distribution via the Bitcoin Program

5% held by SDF to support operational costs"

https://www.stellar.org/about/mandate/

proofofmoon · on March 20, 2018

How much control does Jed McCaleb have over this foundation?

tiddlywinks12 · on March 20, 2018

Are there any updates on the status of SDF as a non-profit? https://www.xrpchat.com/topic/17500-a-stellar-story/ suggests their tax exempt status is at least unclear.

fiatjaf · on March 21, 2018

Nothing could have been premined since there is no mining on Stellar.