Zcash co-founder calls to stop funding ‘over $125M’ grants program

Zcash co-founder Sean Bowe proposed ending the automatic funding stream to Zcash Community Grants (ZCG), saying its treasury was large enough to continue funding projects without further automatic payments.“ZCG has over $125M in funding, and will receive millions more before the spigot is turned off,” Bowe said Tuesday on X. “The program was never designed to handle this amount of funding.” Bowe shared a draft GitHub proposal that would redirect ZCG’s 8% share of the Zcash (ZEC) block subsidy to the network’s sustainability reserve, while leaving its existing funds untouched.The allocation would flow to the Network Sustainability Mechanism until the current funding period ends in 2028. The mechanism is designed to hold ZEC out of circulation and gradually reissue it through future block rewards.In September, Haseeb Qureshi, managing partner at crypto venture capital firm Dragonfly, proposed ending the Zcash developer fund when its current funding period expires, saying that it risks being “politicized” as it approaches $100 million in value.ZCG’s dashboard listed 91,453 ZEC and $8.8 million in cash as of Wednesday, with $2.4 million in outstanding grant commitments. The ZEC holding...