Some personal opinions/suggestions (also posted under @mhluongo proposal):
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Wouldn’t it be desirable to put everyone on equal footing in terms of having to apply for funding? In other words, a single pool with no guaranteed pre-allocations but still allowing for long-term funding in case of recurring applications from credible teams with a proven track record.
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How about a universal 25% cap per team per funding cycle + some reasonable $ cap in case of considerable price appreciation? Again, same rules for everyone. The most concentrated allocation possible in each cycle would be a four-way split between ZF, ECC, and two other teams.
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In case of price appreciation, instead of burning extra coins, I think accumulating them into a dev fund reserve for future use is much more reasonable.
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I like the idea of reforming the ZF board and authorizing it to make funding decisions, preferably with a requirement to abstain from voting in case of direct conflicts of interest.
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Here’s one way to achieve some balance of power between the board, Advisory Panel, and coinholders: initial membership voted in by the Advisory Panel; subsequently, regular open elections in which 1 seat is voted in directly by coinholders (building the required technical solution could be rewarded in the first couple of funding cycles) and the other four by existing board members; at any given time, the coinholders should be able to signal dissatisfaction and if that hits a certain threshold, the Advisory Panel would have to vote in a new full membership. That’s just one idea but the point would be to empower ZEC holders and establish some basic checks and balances.