Zcash holders vote Nov 16–30 on burning 55% of the grants treasury. Three questions people are asking:
Q: What exactly is on the ballot?
A: Removing 50,000 ZEC from Zcash Community Grants' holdings (about 55% of the 91,453 ZEC in an October snapshot) and crediting the value to the Network Sustainability Mechanism, which pays it back through future block rewards (CoinDesk).
Q: Does the grants program die?
A: No. ZCG keeps its remaining treasury, but loses its 8% share of new issuance. That share would pile up in a new dev and legal-defense fund until the next halving, and nobody could spend it without a separate proposal.
Q: Is this final?
A: Far from it. It needs a "rough consensus" poll result plus a network upgrade, and no activation date is set. An earlier 98,000 ZEC plan was dropped Nov 3 after criticism.
My read: with $ZEC this large, the draft itself estimates ~13 years of grant runway shrinking to ~6 under its assumptions. Do you trust a smaller treasury to fund wallets and devs?
#Zcash #Governance
Disclosure: Write to Earn may pay me a commission on cashtag trades.
Q: What exactly is on the ballot?
A: Removing 50,000 ZEC from Zcash Community Grants' holdings (about 55% of the 91,453 ZEC in an October snapshot) and crediting the value to the Network Sustainability Mechanism, which pays it back through future block rewards (CoinDesk).
Q: Does the grants program die?
A: No. ZCG keeps its remaining treasury, but loses its 8% share of new issuance. That share would pile up in a new dev and legal-defense fund until the next halving, and nobody could spend it without a separate proposal.
Q: Is this final?
A: Far from it. It needs a "rough consensus" poll result plus a network upgrade, and no activation date is set. An earlier 98,000 ZEC plan was dropped Nov 3 after criticism.
My read: with $ZEC this large, the draft itself estimates ~13 years of grant runway shrinking to ~6 under its assumptions. Do you trust a smaller treasury to fund wallets and devs?
#Zcash #Governance
Disclosure: Write to Earn may pay me a commission on cashtag trades.