Coinye was originally slated for release on January 11, 2014, but legal pressure prompted David P. McEnery Jr. and his development team to release the source code and mining software on January 7, a few days ahead of schedule.[6] Early press materials promised a proper and fair release, with no pre-allocation of coins.[7] However, later statements from the developers confirmed that approximately 0.37% of the maximum money supply of Coinye had been reserved for the creators of the coin before launch.[8] The developers claimed that this was to cover unexpected legal and development costs.