@zooko, @acityinohio, thank you for your work and thoughts on this revision!
I have a few questions:
MG criteria omitted?
Can you please clarify what are now the criteria for awarding MGs, that should guide the MG review committee and even inform the election of its members?
The original ZIP 1014 text specifies the top-level considerations as:
Major Grants SHOULD be awarded based on ZF’s mission and values, restricted to furthering of the Zcash cryptocurrency and its ecosystem (which is more specific than furthering financial privacy in general).
(emphasis mine), but your revision removed the bold text, leaving just the vague “furthering of the Zcash cryptocurrency and its ecosystem”. That was originally a restriction applied to something much more detailed.
You’ve left the secondary considerations (well-specified work, reasonable budget review points, continual existence, ecosystem support, time priority, etc.), but these were supposed to fine-tune the high-level principles.
MG not subject to ZF constraints?
The fourth and final change to the text of ZIP 1014 is to remove the requirement that Major Grants Review Committee use Zcash Foundation governing documents, processes,
and indeed you made this change in the ZIP:
- The Major Grant Review Committee’s funding decisions will be final, requiring no approval from the ZF Board, but are subject to veto if the Foundation judges them to violate the ZF’s reporting requirements under U.S. IRS 501(c)(3)
operating documents or U.S. law.
But does this work? For example, if the MG review committee decides to award all of the MG budget to (say) lobbyists, which would conflict with ZF’s 501(c)3 status, how would ZF proceed? Just execute the payment, report it and give up its 501(c)3 status?
Remove the “maintain the existing teams and capabilities” requirement
I suggest removing the following text from the Requirements section, since it’s inconsistent with ECC no longer being eligible to apply for Major Grants, even if (due to ZEC price) this is needed to maintain its capabilities.
The Dev Fund should maintain the existing teams and capabilities in the Zcash ecosystem, unless and until concrete opportunities arise to create even greater value for the Zcash ecosystem.
BTW, like @mistfpga above, I found this change surprising and contradictory to the spirit of ZIP 1014. But of course it’s within ECC’s right to bind itself, and if chooses to do so, then I agree that it’s fine for an ECC associate to serve on the MG committee.