It is an ETH coin. Read more carefully. The whole benefit of ETH over BTC is that you can build coins inside of ETH. In this case it is basically just a colore

It is an ETH coin. Read more carefully. The whole benefit of ETH over BTC is that you can build coins inside of ETH. In this case it is basically just a colored coin, the point of which is for the people who hold them to be able make stakes on their long term performance (hence plain ETH would not be useful).