Future of Zcash dev funding — megathread / everything in one place

funny. so, with 3000% increase in price of your coins you would be still greedy about any reward?

large players like that would need to pump their way out of ZEC.

Unlikely and as such not a concern, not a priority
There’s a much greater likelihood that the prices of all cryptocurrencies are highly manipulated and any attempts to change that are just futile so we concern ourselves with the things that we can change, the things that are actually important

BTW ZEC ATL $29

You do not understand the essence of the post.
With the current price and the demand of 1.1 million per month, provided that 20% is saved after halving, the fund and the company can continue to work where the mining will go, and at a price of $ 29, so the price directly affects the network.
You can not care about the value of the asset, but then rely on it is not worth it, and it turns out that the price is not important but the funding should not be less than 1.1 million per month, otherwise we do not work and how to get it in the condition that 20% of production per month This is 800 thousand for example.
As I understand it, the fund will not have enough money again at the current price.

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Then c’est la vie, there is always the possibility that we can get everything right and it still fails but compromising on core values now (in times of transition and unsuredness), when they’re the most important means the project was doomed from the beginning and Ive been around long enough to know that Zcash will die before that happens :zcash:

Y’all should read this: Electric Coin Company Statement on Sustainability - Electric Coin Company

In particular:

ECC will release assessments of each proposal submitted to the Zcash Community site. We will first work with authors or champions on these proposals in order to formalize them into PreZips (pre Zcash Improvement Proposals) and ensure they reflect the author’s intent. Proposals might include non-funding mandates, such as Aristarchus’ mandate for a voting mechanism.

Each PreZip must have a champion who is the author and/or someone willing to advocate for the proposal. The ECC will then draft assessments of each PreZip that will include how its adoption would impact ECC funding, how we believe it would impact the Zcash project, and how the company would likely respond if such proposal was adopted by the community. We are likely to advocate for proposals which would allow ECC (or another organization in its place) to continue the kind of ambitious, strategic and integrated operations that we’ve demonstrated in the first years of Zcash.

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So in other words, “grant us the funds we need and give us carte blanche, or it’s best of luck and ciao bella” ?!

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Think that’s extremely unlikely. For a company to walk away from their flagship project, one that has defined their very existence, would be completely nuts - it’d be like Apple deciding not to make computers.

I’m sure they really want to keep working on ZEC & I certainly want that to happen, but there’s a balance to be found & that’s what this is all about.

Livestream is torrorrow, looking forward to that.

Have in mind that this 20% wont cut it if the price keeps dropping. Zcash foundation and ECC keep saying they don’t want to talk about the price, but lets say theoretically that price keeps dropping to 20-30$. They have said they need 700k a month for normal operations, but after halving even if they receive 20% of the supply (which is now 50% less) it won't be enough to fund them unless price goes to at least 150.

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I asked this question 5 times, no answer.

ECC have said $1.1 million a month. At current prices ($65) after the halving (109500 ZEC a month mined total) so ~$7.12 million so ECC cut at this price level would be 15.45%. A price of ~$50 would be 20%.

That doesn’t leave a lot else to go around to further decentralize development (assuming the allocation is not increased)

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After halving daily inflation will be 3600 coins and 20% from that is 720. In a month that makes 21600. If the price indeed drops to 30$ which isnt unlikely at this pace, that makes 648000$ a month.

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I think the difference comes from the numbers from the transparency report $750k (current) if i remember right and the $1M announced at Zcon1 (future).

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Yes exactly and I was referring to this recent post: Electric Coin Company Statement on Sustainability - Electric Coin Company

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Is it possible to have future dev funding be rewarded based on USD and not ZEC? What if ZEC price appreciates greatly?

I think there might be a couple of proposals based around that idea. I am not 100% sure though.

If you read through them and don’t find anything you think is what you are getting at I am happy to help write one up with you, that does convey your ideas.

It could be a full proposal or more of a mechanism which can be incorporated into other proposals. I don’t mind. If you are willing to put some effort in, so will I.

PM me or start a thread and @ me and we can go from there.

The more options there is to pick from the more likely the ECC will/can find some that work.

edit: I can see a few problems with your idea, but I also see massive advantages. I would like to discuss it further, can you start a thread? I think a lot of people would have some opinion on it (and I am sure it has been mentioned before)

I am not associated with the ECC/Foundation or any 3rd party. I am a humble community member just like yourself.

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Thats a really good point, wether we like it not all the things that need funding operate in the ‘fiat world’ and will do for many years to come.

Starting to believe funding from block rewards really should go via ZF who become the gateway to fiat spends.

It’d need a sunset/expiration because that shouldn’t last forever (same reasons as for the FR) & the 501c3 would have to change etc. Careful thought on governance & use of multisig etc.

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See the Placeholder proposal here and specifically: Placeholder Considerations: Resources, Governance, and Legitimacy in NU4

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one more observation. i haven’t seen in current funding zips any mentions about possible cut for estabilishing a bug bounty program. maybe its not appropriate decide about spendings above operational level, but since this discussion is about everything related, why not? even monero has its own bug bounty program. i’ve seen questions about possible bug bounties were raised numerous times at zcash github, here and at other resources. so, maybe this time? its relatively not expensive way to bring more security and confidence in zcash. i dont understand why its not obvious, that except money outflows and price action, the main negative impact on zcash by now is lack of confidence in tech. more bugs/rces discovered and fixed in time - more confidence.
ofc if all this funding saga is not an attempt to prolong siphoning of resources to prolong expenditures for endless development for the sake of endless development and donating technology to the third parties.

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Initially, if it mattered, it would have already been implemented in the first 4 years, now it is not as well as in principle a report on the work done, you can do nothing at all in principle and still receive money, there is no quality control because there is no goal analyze, therefore, even now this mechanism will not work, even the fact that such a method of discussing renewals was chosen, when a person has to write something, so that his ideas could be discussed is a hidden filter, because not many can do that. For various reasons, only proposals from the fund itself and from the company, perhaps a few more from simple supporters, will be correctly made.
It was necessary to initially set a condition (perhaps several options) for discussion, and then come to a consensus. Everything has been decided long ago, everyone can relax and enjoy the process, the fund will receive at least 20% of the block in the next period, the ECC will be hired, the coin will be developed, because if someone does not support this decision, you will need to take the risk that the coin will die, and the invetora will not be delighted, the rest will not care, the recipients of the reward against exactly will not.
I understand the position of the company and the fund, I just don’t like it, but when they cannot be reproached with this best position, they didn’t promise anything, everything will go on its own way, it’s good that they don’t have any risks, I’m sure that the team has no possibility of losing bonuses in case of failure, of course, this does not mean that they are not trying, I believe that their contribution is the largest in the industry, and as was rightly noted, if not zcash, you will not be without work.

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