50,000
$ZEC . That’s what some members of the Zcash community are proposing to withdraw from the fund that pays its own developers. Voting opens Monday.
The facts first. Zcash Community Grants (ZCG), the committee that funds developers, wallets, and projects, holds around 91,453 ZEC. The draft proposal, co-signed by co-founders Zooko Wilcox and Sean Bowe, asks to withdraw 50,000. That’s 55% of the fund, worth around $49 million at this week’s price.
Where would it go? Not in the trash. It would go into the NSM, a protocol reserve that gradually returns it to miners through future block rewards. It leaves circulation immediately and comes back drop by drop.
The second part goes unnoticed: the 8% of each block reward that ZCG receives would be deposited into a vault, the “Future Dev and Legal Defense Fund.” No one could touch it until another proposal sets the withdrawal rules.
What the headline doesn’t say:
1. The vote (November 16–30) is advisory. No numerical threshold has been announced; the organizers will decide whether there is “rough consensus.”
2. Nothing will change without a network upgrade, NU7.1, which doesn’t have a date yet.
3. 50,000 ZEC is around 0.3% of the circulating supply. The mechanical effect on price: minimal. The effect on governance: enormous.
My take? The real issue isn’t the money, but who controls it. Taking a fund away from a committee and putting it in a vault with no defined key is basically saying, “We don’t trust you anymore, and we’ll decide later who to trust with it.”
If you had ZEC, which box would you tick: leave the fund with the committee, or empty it first and rewrite the rules afterward?
#Zcash #ZEC #Gouvernance #Crypto