Zcash Grants Committee Withdraws Proposal to Redirect 98,000 ZEC
Nov. 4 — According to CoinDesk, the Zcash Community Grants Committee (ZCG) has withdrawn the funding adjustment proposal it put forward on Oct. 29, saying it “will not move forward with this proposal.” Future funding arrangements should be decided through Zcash’s regular governance process. The original proposal would have transferred 36,200 ZEC from a treasury of about 91,500 ZEC to the Network Sustainability Mechanism (NSM) to supplement miners’ block rewards. It would also have reduced ZCG’s projected revenue from about 109,000 to 47,000 ZEC before the 2028 halving, with further declines through 2032—redirecting a total of about 98,000 ZEC. A promotional project it previously funded, ZECsy, promoted privacy payments at an adult-industry trade show, raising questions about spending and accountability. Competing proposals—to end automatic grants, a joint draft by Zooko, and keeping 8% while redirecting grants—all failed to pass. ZCG continues to receive about 144 ZEC per day.
Nov. 4 — According to CoinDesk, the Zcash Community Grants Committee (ZCG) has withdrawn the funding adjustment proposal it put forward on Oct. 29, saying it “will not move forward with this proposal.” Future funding arrangements should be decided through Zcash’s regular governance process. The original proposal would have transferred 36,200 ZEC from a treasury of about 91,500 ZEC to the Network Sustainability Mechanism (NSM) to supplement miners’ block rewards. It would also have reduced ZCG’s projected revenue from about 109,000 to 47,000 ZEC before the 2028 halving, with further declines through 2032—redirecting a total of about 98,000 ZEC. A promotional project it previously funded, ZECsy, promoted privacy payments at an adult-industry trade show, raising questions about spending and accountability. Competing proposals—to end automatic grants, a joint draft by Zooko, and keeping 8% while redirecting grants—all failed to pass. ZCG continues to receive about 144 ZEC per day.