Zcash Could End Flow of Block Rewards to Community Grants as Polls Open Nov. 16
By Unchained
AI summary of the source article
A draft Zcash Improvement Proposal aims to end the Zcash Community Grants program's 8% block reward allocation and redirect funds to a lockbox. Coinholders and community panels are scheduled to vote on the governance measures from Nov. 16 to Nov. 30.
Why it matters
The proposal's authors explained that "the rapid rise in the price of ZEC has enlarged the monetary value of ZCG’s treasury to a much greater amount than ever before."
Key facts
- The draft ZIP would end Zcash Community Grants' 8% block reward stream, redirecting coins into a Future Dev and Legal Defense Fund Lockbox until the third halving.
- The proposal requires the ZCG Committee to transfer 50,000 ZEC—about 55% of its holdings—to the Network Sustainability Mechanism within 30 days of activation.
- Voting organized by five Zcash ecosystem groups will run from Nov. 16 to Nov. 30 to decide among competing governance proposals.
Source excerpt · Unchained
The grants program's 8% cut would sit in a locked fund with no spending rules yet, and 50,000 ZEC would leave its treasury, under a merged draft that Zcash coinholders vote on from Nov. 16. The post Zcash Could End Flow of Block Rewards to Community Grants as Polls Open Nov. 16 appeared first on Unchained .