Zcash Community Grants (ZCG) said it will not proceed with its proposal to gradually reduce the development fund, and closed the related discussion thread. According to Foresight News, ZCG announced the decision in a post on the Zcash forum, saying the proposal was submitted on October 29 and aimed to address the amount of ZEC allocated to the organization. ZCG said the future of the development fund and its treasury should be decided by the community through Zcash’s regular governance process.

Previously, Zcash founder Zooko said on the forum that Tachyon Group, led by Sean Bowe, and Shielded Labs had jointly submitted a ZIP proposal. It proposed ending future funding for ZCG, reducing its treasury, and establishing a fund for future development and legal defense.