Crypto Sense?

Suppose I make a new proof of stake coin. The supply is fixed and coins are not earned by any nodes. There are no transaction fees.

The only way to get coins is to somehow receive coins from the initial distribution or purchasing off exchanges.

Now suppose the security model of my coin is delegated proof of stake, where representatives make all voting decisions. Also, my coin favors performance over security.

One might wonder how these representatives are chosen? How could they get so many coins if there was no reward mechanism? Did they somehow get all the coins via the distribution? Did they really sink so much money to purchase the coins from exchanges?

What if I then say that this coin will create it's own exchange to trade?

Does any of this start to raise questions?

Is the exchange a way for the developers or inside group to dump and sell their coins?