Not exactly. They had discussed pivoting, but ultimately decided to “Go all-in on ZEC”, which was announced during Zcon1. Since then, the ZEC price has gone from ~$110 USD to ~$37 USD, a decline of over 66%. By comparison, BTC has gone from ~$10,000 USD to $8,700 USD, a decline of only 13%.
This isn’t a fluke. No amount of promotion or marketing can overcome the severe supply imbalance created by copying Bitcoin’s emission schedule. Because ZEC is ~7 years behind, there will always be 4x more ZEC mined than BTC on any given day.
What the ECC could do to correct this is time-shift the current emission curve ahead by 2 halvings, so as to match BTC’s current emission. This could be achieved without changing the total ZEC supply by including a one time payment to all miners of 0.75x the amount of ZEC mined to date since the genesis block in the fall 2020 network upgrade, while halving the block reward 3 times instead of once.
Not only would this correct the supply/demand imbalance, but it would have the added benefit of crediting all previous GPU miners with 0.75x extra ZEC. This would go a long way to making amends with potentially thousands of hobby miners who felt slighted by the adoption of ASICs.
Edit This would also credit the Founder’s Reward recipients with 1,575,000 ZEC (an additional 7.5% of the total ZEC supply), which could be directed solely towards the ECC and ZF. At today’s prices that’s an additional $58 million USD. This is the most immediate and reasonable solution to the funding debate.