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Zcash community to vote on withdrawing 50,000 ZEC from grants treasury

Zcash co-founders have proposed pulling 50,000 ZEC, valued at around $50 million, from the community grants treasury ahead of a vote opening November 16.

Zcash cryptocurrency logo with a white Z symbol on a yellow circular background
Image: @scottmelker

Zcash holders will vote on a proposal put forward by Zcash co-founders to withdraw 50,000 ZEC—valued at approximately $50 million—from the Zcash Community Grants treasury. According to reports from CoinDesk and trader Scott Melker, voting is scheduled to open on November 16 and run through November 30.[2][3][4]

The proposed withdrawal accounts for 55% of the grants treasury's holdings, removing more than half of its funds from circulation. Under the plan, the value would be returned through future mining rewards while redirecting upcoming block rewards into a dedicated development and legal-defense fund.[2][3][4]

The initiative could mark a substantial transition for the ecosystem's financing structure. As reported by Crypto Briefing, shifting the development funding model could influence future grant availability as well as alter incentives for network miners.[1]

Key facts

  • Zcash co-founders proposed withdrawing 50,000 ZEC, worth about $50 million, from the grants treasury.
  • The 50,000 ZEC withdrawal represents 55% of the Zcash Community Grants treasury's total holdings.
  • Community voting on the proposal is scheduled to run from November 16 to November 30.
  • The plan would return value through future mining rewards and redirect block rewards to a new development and legal-defense fund.
  • The restructuring could impact future grant availability and alter incentives for Zcash miners.

Sources · 4 sources

  1. CB

    Crypto BriefingArticle ·

    Zcash holders to vote on pulling 50,000 ZEC from the grants treasury The proposal could shift Zcash's development funding model, impacting future grant availability and potentially altering miner incentives. The post Zcash holders to vote on pulling 50,000 ZEC from the grants treasury appeared first on Crypto Briefing .

    Open source
  2. CO

    CoinDesk@CoinDeskPost on X ·

    LATEST: @Zcash co-founders propose removing 50,000 $ZEC from the grants treasury, representing 55% of its holdings, and returning the value through future mining rewards, with community voting opening November 16. https://t.co/dvYZyaSkTS

    Open source
  3. CO

    CoindeskArticle ·

    Zcash holders to vote on pulling 50,000 ZEC, worth $50 million, from grants treasury The proposal would remove more than half of Zcash Community Grants' ZEC holdings from circulation and redirect its future block rewards into a new development and legal-defense fund.

    Open source
  4. TW

    The Wolf Of All Streets@scottmelkerPost on X ·

    ZCASH $ZEC HOLDERS VOTE NOV 16-30 ON A CO-FOUNDER PLAN TO PULL 50,000 ZEC FROM THE GRANTS TREASURY AND RETURN IT THROUGH MINING REWARDS https://t.co/15IzLBAZvk

    Open source