Unlike many other cryptocurrency projects, Zcash didn't launch with a grandiose initial coin offering (ICO) or venture capital (VC) investment. Instead, it emerged from modest roots, fueled by a portion of the Founder's Reward and generous individual contributions to the Zcash Foundation (ZF). The current development fund, introduced in 2020, has supported the Electric Coin Company (ECC), ZF, and community-driven initiatives. While some members of the community appreciate this funding model, others have expressed concerns, labeling it a "developer tax." As a collective, we possess the agency to shape Zcash's future and opt for a more optimal path forward.
Zcash's true potential lies in its ability to bring financial freedom to the world - a world where anyone can transact securely and privately. However, for this to happen, Zcash itself must be fully decentralized, open, and liberated from political pressure. Its source code must embody autonomy and welcome broad participation.
The current development fund will expire in November, and its recipients will need to find alternative funding sources or scale back operations. This presents an opportunity for us to come together and design a more decentralized and sustainable funding model that aligns with Zcash's core values.
Let's work together to set Zcash free and unlock its true potential for a more secure and private financial future.
At ECC, we believe that the Zcash protocol's true power lies in its ability to empower the world. To achieve this, we must set the protocol free from centralized control. With this vision in mind, we have made the bold decision to decline direct funding from the protocol's development fund. Instead, we support a decentralized approach, where funds flow into community-managed grants pools, distributed based on tangible outcomes and deliverables.
We propose two options:
- Expiration: Let the current development fund expire, allowing the community to collectively design a new, decentralized model.
- Grants Model: Establish a decentralized grants system, where miners and stakers can opt-in or out of contributions. If chosen, we acknowledge that designing this model will take time and are open to extending the current fund for a maximum of one year to facilitate a seamless transition.
The time to decide is now. We believe that for Zcash to bring freedom to the world, it must first be free itself. Let us codify the freedom we aspire to within the protocol and unlock Zcash's true potential.
Zcash's Unique Origins and Future Trajectory
https://youtu.be/-tYcIvtBNbE?si=pTCBQV7wIg_dQavZ
Join us in setting Zcash free!