Zcash Co-Founder Proposes Ending ZCG’s Funding Stream
Zcash ecosystem saw a recent development as its co-founder, Sean Bowe, suggests phasing out the Zcash Community Grants (ZCG) funding program. Bowe argues that ZCG's treasury is robust, exceeding $125 million, and can sustain project funding without further automatic payments.
He presented a GitHub proposal to redirect 8% of Zcash (ZEC) block subsidy, initially allocated to ZCG, into a network sustainability reserve. This measure will ensure the long-term stability of the network while preserving the existing ZCG funds. The proposal aims to maintain this allocation until 2028 when the current funding period ends.
This debate echoes a similar proposal by Haseeb Qureshi from Dragonfly, a crypto venture capital firm, suggesting the end of the Zcash developer fund due to potential politicization as it nears $100 million in value.
As of Wednesday, ZCG held 91,453 ZEC and $8.8 million in cash, with $2.4 million in outstanding grant commitments. The ZEC holdings alone were valued at approximately $111 million at the time of writing.
Zcash continues to navigate its funding structure, aiming for a sustainable future while ensuring the privacy and security that its ecosystem values.
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