Published • loading... • Updated
Zcash grants committee drops plan to redirect 98,000 ZEC to future mining rewards
The committee said future funding decisions should go through Zcash’s usual governance process after criticism over how its treasury would be used.
- On Tuesday, Zcash Community Grants withdrew its plan to redirect 98,000 ZEC toward mining rewards, less than a week after proposing it. The committee wrote, "Weve decided not to take this proposal forward."
- Criticism regarding the committee's spending and accountability prompted the initial proposal. Tension escalated after a ZCG-funded project called ZECsy promoted private payments at an adult-industry convention in New Jersey, leading critics to question oversight.
- ZCG currently receives 8% of all newly created ZEC, approximately 144 coins daily. The abandoned plan would have redirected nearly 98,000 ZEC—valued at roughly $128.7 million—into a reserve supporting miners as block subsidies decline.
- With the proposal withdrawn, the committee confirmed future funding decisions will be determined through Zcash's usual governance process. The committee stated this during its November 3 announcement.
- Several competing governance proposals remain under discussion, including plans from Zcash co-founder Sean Bowe and developer Daira-Emma Hopwood. These seek to reform automatic funding or refocus grants on encouraging wider ZEC adoption.
Insights by Ground AI
12 Articles
12 Articles
ZEC Jumped 10.5% After Zcash Community Grants Dropped a Plan to Redirect 98,000 ZEC. Why Did Holders Object?
Zcash holders pushed back hard enough to kill a proposal redirecting nearly 100,000 ZEC, and the price jumped. But the governance fight that triggered the rally is far from settled, and what happens next could determine whether these gains stick.
·Lakewood, United States
Read Full Article
Key points of the news: Zcash Community Grants withdrew its proposal to redirect 98,000 ZEC to mining rewards after community criticism, returning the debate to the governance process. The plan would have moved 36,200 ZEC from the treasury of ZCG and reduced its revenues to 2028 from 109,000 ZEC to 47.000. The proposals were ... Read more
Coverage Details
Total News Sources12
Leaning Left0Leaning Right0Center3Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
Factuality
To view factuality data please Upgrade to Premium
