Zcash co-founder proposes ending grants funding, citing $125 million treasury
Source: CoinDesk ·
From the source
Sean Bowe’s proposal would send the committee’s 8% share of newly created ZEC to a reserve for future miners. The committee would keep the money it has already received. 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. It's time to turn off the ZCG funding stream. ZCG has over $125M in funding, and will receive millions more before the spigot is turned off. The program was never designed to handle this amount of funding. Draft…