$ZEC founders want 55% of the Zcash grants fund gone. The reason: the pump made it too rich.
A draft from Sean Bowe, Zooko Wilcox and Jason McGee asks Zcash Community Grants to take 50,000 of its 91,453 ZEC out of circulation. The value drips back to miners through future block rewards. The fund's 8% cut of new coins would go into a lockbox nobody can spend from yet.
The draft did its math at 1,300 dollars a coin. ZEC is near 971 today, so the same 50,000 ZEC is already worth about 16 million dollars less, before a single vote.
By the draft's own math, runway drops from about 13 years to about 6. Polls run Nov 16 to 30.
Most grant programs get cut for being broke. This one is getting cut for being loaded.
#Zcash #PrivacyCoins
NFA. DYOR.
A draft from Sean Bowe, Zooko Wilcox and Jason McGee asks Zcash Community Grants to take 50,000 of its 91,453 ZEC out of circulation. The value drips back to miners through future block rewards. The fund's 8% cut of new coins would go into a lockbox nobody can spend from yet.
The draft did its math at 1,300 dollars a coin. ZEC is near 971 today, so the same 50,000 ZEC is already worth about 16 million dollars less, before a single vote.
By the draft's own math, runway drops from about 13 years to about 6. Polls run Nov 16 to 30.
Most grant programs get cut for being broke. This one is getting cut for being loaded.
#Zcash #PrivacyCoins
NFA. DYOR.
