Zcash co-founder proposes ending grants funding, citing $125 million treasury
Zcash co-founder Sean Bowe has proposed ending automatic funding for the privacy network’s community grants program, saying its treasury is now big enough to cover years of spending without any new money coming in. His draft proposal, published late Monday, would halt auto allocation and redirect its remaining 8% share of the newly created ZEC into a reserve for future mining rewards. The committee would keep its existing assets and continue awarding grants from them. Bowe’s calculation puts those assets, after outstanding grant commitments, at about $125 million, using an illustrative ZEC price of $1,300. ZCG’s five-member committee, elected by a community advisory panel, selects grants without a separate coinholder vote. A second funding program receives 12% of newly created ZEC. Holders vote quarterly on its grants, subject to participation and approval requirements. Bowe wants to…
