It is hard to justify having yet another cryptocurrency anyways, as you will fall into the same trap everyone fell in post ethereum - running a unregistered security and living afraid of legal consequences. Lying to the community and spending a fortune on lawyers while the VCs who gave you a push end up with any real money.
It is not my idea anyways, it is something I remember from back in a day. I was interested in the cryptocurrency scene back in 2012, 2013… When things were different. The distribution method I have explained was deployed by Peercoin, the very first proof of stake coin. A brief look shows it is still being distributed in the same fashion and github is active. So clearly there is developer interest.