Hey folks! I’m super-busy. I wish I could spend more time on this forum. I really like how you folks here are more civil and constructive than a lot of cryptocurrency communities.
Working on it! Thank you for your patience. Please keep giving me your feedback.
Sincerely,
Zooko
should be at 5000 USD tomorrow - ;-D
I wrote a question about that 20% distribution on the new Stack Exchange Q&A site. Please upvote if you want to weight!
http://area51.stackexchange.com/proposals/103048/zcash/103112#103112
Also, apart from that question, the more people get involved in curating that platform, the better chances it has to become an official SE site. That would basically be a free marketing card, and benefit to all ZCash community.
While I think the risk/reward for the investors is skewed and by no means optimal for the general public I agree. It’s not like this is up for discussion, or an unknown factor at this point. It’s been known since the start of the project, and not about to change.
I think it is up for discussion, we are discussing right now. While a contractual change is unlikely, even a small shift could be beneficial, such as a greater pledge from investors to the non-profit Zcash Foundation that Zooko has brought up. The point IIT goes beyond restructuring in respect to (1) awareness in regards to the community (2) transparency in regards to the investors and founders (3) mutual understanding between all parties.
Zooko has responded and said he is working on publishing more information about finances, which is good progress.
Here’s some more detail on funding and distribution of the Founders’ Reward relevant to this thread: Continued Funding and Transparency - Electric Coin Company
Notice that the investors’ share is 16.5% of the total Founders’ Reward. (I’ve been itching to post that information, since it clearly addresses the conflation of “founders” and “investors” that some people have been making, including in the graphic at the top of this thread – but couldn’t do so until now.) That is for a total investment of USD 3m.
Declaration of interest: I have a share of the Founders’ Reward due to an indirect shareholding in the Zcash company.
This is great. I think this is what a lot of us ITT were hoping for, and that the 16.5% allocated to investors is much lower than many of us originally thought.
Thanks for the edit, Daira. Yes. I’m not going to update to the charts, but it should be noted that the Founder’s reward includes more than the investor’s reward. The chart notes the strategic reserve and the non-profit will receive 26.3% of the reward (founder’s), what distinguishes these two projects? Both seem to be a part of advancing z-cash projects. Is the strategic reserve the for-profit component?
I am also interested in the difference between the zcash foundation and the nonprofit. @daira or @zooko any response?
It would be neat if the nonprofit was going to be used for creating educational tools and non-profit platforms that utilized zcash, I’m guessing the zcash foundation is going to be purely for profit/development/founders?
Huge respect for the amount of work they already put in, but the percentage of the money supply they are taking is very concerning. Greed can destroy something good very quickly.
The “Zcash Foundation” is the same thing as “the non-profit”.
Oops. I think we both meant Zcash Co., which is receiving 1.19%
Sorry, I’m confused too! Is there anything I can clarify beyond what is already stated in Continued Funding and Transparency - Electric Coin Company and Frequently Asked Questions - Zcash ?
Ha, sorry for not being very clear.
The Zcash Company’s “strategic reserve” will receive 1.19% of the Zcash monetary base (over four years), and is intended to fund new projects to increase the value of the Zcash Company.
and
The non-profit Zcash Foundation will receive 1.44% of the monetary base (over four years). The Foundation will maintain and improve the Zcash protocol in the interests of all users, present and future.
What is the main difference here? What is something that would benefit the Zcash Company but not be in the interests of “all users, present and future” as implied by the allocation of Zcash Foundation reward?
Summed up: Is the Zcash Company meant to benefit the Founder’s only while the Zcash Foundation is meant to benefit users?
I agree this is not a thread disparaging the founders. They are the ones who built the software and open-sourced it. I do not believe anyone here is ungrateful for their work. I just think fully understanding how the organization is setup would be helpful considering we are all putting our own money/labor in to the project.
No total marketcap would be
21 mill x $95
2,009,910,000 (2 Billion market cap)
Founder reward would be 400million roughly
800M. The final total is 20% of the supply no 10%. But yes, your exchange rate is correct.