I just checked it out and yes that is correct from what I can make out, BUT 25% is available immediately and the other 75 % is locked in your wallet for a year. I like that bit actually because it stops everyone cashing out and killing it. Like steem having the 13 weeks power down , but still a good incentive. to refer. I referred two people and haven't given out my link apart from that and nothing has come through yet but it was only yesterday.