Final yr, the Zcash neighborhood allotted 8% of block rewards to ZCG and 12% to a one-year deferred lockbox to discover future funding choices. With the expiration nearing, it’s time for the neighborhood to resolve the trail ahead. Polling will start this week.
ECC endorses the Neighborhood and Coinholder Funding Mannequin (C&C). As described within the proposal summary, this mannequin “offers the neighborhood and coin holders distinct voices in figuring out what, if any, grants are supplied to assist Zcash’s improvement and neighborhood efforts.”
We assist this mannequin for the next causes:
Consequence-driven: This proposal is in step with our place that anybody who receives funding from block rewards ought to be held accountable to the neighborhood for outcomes.
Empowers Coinholders: Coinholders haven’t traditionally had the facility to find out how block rewards are allotted. This mannequin offers them the authority of 60 p.c of the event fund.
Balanced and Agile: This mannequin retains the Zcash Neighborhood Grants (ZCG) operate in place and on the similar funding stage it at the moment receives. This permits the neighborhood to elect representatives to the ZCG, and gives a extra agile and different means for contributors to use for grants.
Legally Compliant: ECC consulted with its attorneys to evaluate authorized and compliance dangers. This mannequin is in step with comparable fashions utilized in different ecosystems and demonstrates additional decentralization of decision-making authority.
Clear Governance: The method for allocating funds is simple, with formal ratifying of coinholder selections by means of a multi-organization multi-sig.
Time period-Restricted: The mannequin could be activated by means of the third halving, roughly November 2028. This permits the neighborhood enough time to evaluate the mannequin’s effectiveness earlier than figuring out whether or not it ought to expire, be modified, or get replaced.
Sturdy Controls: The C&C mannequin features a veto course of that enables key holders to withhold funds in circumstances the place the funding would violate the regulation or be deemed antithetical to the values of the Zcash neighborhood. It’s also restricted to funding governance and doesn’t suggest management of what code is merged and run by the ecosystem.
Implementable by November: The ECC staff has decided that the mannequin will be carried out forward of the November expiration date, with minimal affect on the present work on zcashd deprecation and ZSA enablement. It would require a community improve earlier than or in live performance with what’s at the moment outlined as NU7.
Collaborative: The mannequin was developed with enter from ECC, the Zcash Basis, Shielded Labs, discussion board members, and long-term ZEC holders.
Whereas ECC is formally endorsing this proposal, particular person ECC staff members could categorical completely different views on-line or in polling. We stay steadfastly dedicated to additional Zcash decentralization, elevated coinholder participation, transparency, and accountability, and we sit up for listening to the neighborhood’s voice by means of polling.
