Development fund distribution

Governance
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Hi guys. I am ZEC holder, owner of 0.3%+ of max cap. I love the idea of Zcash and believe in bright future of privacy protecting coins.

My question is about Zcash dev fund distribution transparency. Is there any accounting reports available for community to review?

I know about 20% dev fund, which includes ECC (7%), Zcash Foundation (5%) and Grants (8%).
But is there any public information about funds distribution within ECC?

If I’m not mistaken, 7% of current supply is around 7560 ZEC monthly ($660,000 by today’s market rate)

I see there are 26 ECC employees (Team - Electric Coin Company - Electric Coin Company). Is there an open information about their salaries, ECC reserves and expenses?

For example, Joseph Van Geffen, Design Lead.
In his Twitter his last retweet about ZEC was 10/09/2019.
I would like to know, how much was his salary last month and what is his current work progress as a design lead.

Is this information open?

Thanks!

2 Likes
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Hi @AlexXTC welcome to the forums. If you are asking about ECC specific personnel, I’m not sure that information is public.

ECC has been a privately owned company for sometime, but recently changed hands to be under a non-profit organization called Bootstrap.

ECC publishes transparency reports, as well as the Zcash Foundation. You can find those on thier websites.

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This is a really good question!

Even most nonprofits don’t publish salary information for all employees, since it can make negotiating salaries difficult by making all employees aware of each others’ salaries.

501c3 nonprofits are required to post salary information annually on their highest paid employees, but since ECC will be owned by the 501c3 Bootstrap, I’m not sure if it will be subject to this requirement.

I’ve found for most organizations like ECC where the overwhelming cost is staff time, you can get a pretty good since of staffing costs by dividing the total budget by the team size. If you’d like to look up some of this here we could do some napkin math and get a sense of it.

I would guess that it’s in line or below with market rates for people with these skills, though I could be wrong.

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I suppose the question was from the point of view of efficiency for wages, there is a feeling that people receive money but there is no result and this suits everyone, it should not be so if the money goes purposefully for development and someone should be responsible for the fact that it is spent not for its intended purpose, I guess that was the question.

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I was coincidentally looking at some metrics about the shielded pool today, and noticed that the @ZcashGrants has started moving their funds into the shielded pool: https://blockchair.com/zcash/transaction/c3d8cd4b2c13f89ff3a90640cedae7ff80437f242219a7e35d633be405eb0895

It occurs to me to ask the question: has the ZOMG decided upon how they’re going to handle reporting to the community?

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Most non-profits don’t generate funding from miners, either!

“The Zcash Foundation is a public charity that builds and supports privacy infrastructure for the public good.”

Make it public!

The someone is the public.

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If you mean ‘public’ as in publicly owned or publicly available shares then thats not possible because 501c3s have no owners or shares nor may they declare the existence of shares
Reporting? Well the 2020 form 990 will be available in the coming months
AND the same goes for Bootstrap, I almost forgot! capture resistance baby!