I just came across something interesting: Zcash is holding a vote from November 16 to 30 on whether to take 50,000 ZEC—worth about $50 million—out of the Community Grants Treasury. That’s a little more than half of the 91,453 ZEC in the treasury. The funds wouldn’t be burned; they’d go into a network sustainability mechanism and gradually be returned to circulation through mining rewards. The grants treasury would also stop receiving its 8% share of newly issued coins, which would instead be locked in a development and legal defense fund. The draft was written by co-founders Sean Bowe and Zooko Wilcox together with Jason McGee, and was merged into the specification repository on November 11. The proposal’s own calculations estimate that, assuming a price of $1,300 per coin, the treasury has enough to last 13 years as it stands, but only about six years after the change. I think this says a lot about where Zcash is right now. The coin price had just fallen below $1,000 on November 11 for the first time since September, and the previous proposal for 98,000 coins was withdrawn on November 3 after community opposition. This time they’re back with a vote on 50,000 coins—a step toward meeting the community halfway. But even if the vote passes, it won’t take effect until the NU7.1 upgrade, and there’s no timeline for that yet. I think the short-term impact on the coin price will be limited; the key question is whether the community gets behind it in the vote on the 16th. (Source: CoinDesk, November 12)
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This is not investment advice