Correct. That’s what the text of ZIP 1014 says (emphasis mine):
- Major Grants awards are subject to approval by a five-seat Major Grant Review Committee. The Major Grant Review Committee SHALL be selected by the ZF’s Community Panel. 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 operating documents or U.S. law.
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ZF SHALL recognize the ZF-MG slice of the Dev Fund as a Restricted Fund donation under the above constraints (suitably formalized),
and what option 3B of the Helios Vote said:
- Do you believe the Foundation should have independent authority in determining Major Grants, or should there be a new Major Grant Review Committee as prescribed in this ZIP?
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B. There should be a new Major Grant Review Committee with near-complete authority
The intent of ZIP 1014 is not true independence. Instead, it’s up to the community to hold the Zcash Foundation to ZIP 1014, (including only exercising veto per the outlined limits, assuming that option 3B is taken).