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Zcash holders to vote on pulling 50,000 ZEC from the grants treasury
Zec holders are set to start voting next week on a plan that would take 50,000 zec out of the network’s grants treasury. Instead of being spent on grants, that value would flow back to miners through future block rewards.
The proposal comes from co-founders Sean Bowe and Zooko Wilcox, writing with Jason McGee. It would reshape how Zec pays for development, and it arrives days after the grants committee pulled a funding plan of its own following community pushback.
What the draft actually proposes
The draft Zec Improvement Proposal, or ZIP, was merged into the project’s specifications repository on Wednesday. It does two main things.
First, it asks Zcash Community Grants (ZCG) to transfer 50,000 zec from its existing treasury into the Network Sustainability Mechanism, known as the NSM. Second, it would end ZCG’s automatic 8% slice of block rewards once the NU7 network upgrade arrives.
That 8% stream would not vanish. It would be redirected into a new locked pool called the “Future Dev and Legal Defense Fund.”
Any spending from the new fund would require its own proposal
The NSM, created under ZIP 237, works like a slow-release reserve. zec that goes into it is not spent all at once. It gets paid out to miners gradually over time as part of their rewards
So the 50,000 zec would not be burned or handed to a new committee. It would be parked in a mechanism that drips it back into the mining economy, block by block
The numbers behind the treasury
ZCG currently holds approximately 91,453 ZEC, along with roughly 8.8 million in cash. If the 50,000 zec transfer goes through, the committee would be left with an estimated 41,453 ZEC
The committee also carries about 2.4 million in outstanding grant liabilities. Those are commitments to grantees that already exist on the books
Then there is the ongoing income. ZCG currently takes in about 144 zec per day from its share of block rewards. Under the draft, that inflow would stop after NU7
#Write2Earn #zec #zcash $ZEC
Zcash holders to vote on pulling 50,000 ZEC from the grants treasury
Zec holders are set to start voting next week on a plan that would take 50,000 zec out of the network’s grants treasury. Instead of being spent on grants, that value would flow back to miners through future block rewards.
The proposal comes from co-founders Sean Bowe and Zooko Wilcox, writing with Jason McGee. It would reshape how Zec pays for development, and it arrives days after the grants committee pulled a funding plan of its own following community pushback.
What the draft actually proposes
The draft Zec Improvement Proposal, or ZIP, was merged into the project’s specifications repository on Wednesday. It does two main things.
First, it asks Zcash Community Grants (ZCG) to transfer 50,000 zec from its existing treasury into the Network Sustainability Mechanism, known as the NSM. Second, it would end ZCG’s automatic 8% slice of block rewards once the NU7 network upgrade arrives.
That 8% stream would not vanish. It would be redirected into a new locked pool called the “Future Dev and Legal Defense Fund.”
Any spending from the new fund would require its own proposal
The NSM, created under ZIP 237, works like a slow-release reserve. zec that goes into it is not spent all at once. It gets paid out to miners gradually over time as part of their rewards
So the 50,000 zec would not be burned or handed to a new committee. It would be parked in a mechanism that drips it back into the mining economy, block by block
The numbers behind the treasury
ZCG currently holds approximately 91,453 ZEC, along with roughly 8.8 million in cash. If the 50,000 zec transfer goes through, the committee would be left with an estimated 41,453 ZEC
The committee also carries about 2.4 million in outstanding grant liabilities. Those are commitments to grantees that already exist on the books
Then there is the ongoing income. ZCG currently takes in about 144 zec per day from its share of block rewards. Under the draft, that inflow would stop after NU7
#Write2Earn #zec #zcash $ZEC
