Seeking clarity from the ZFND - solved

Hi @amiller,

This post has been directly answered via this zfnd statement. I have left the original post in details tags.

Thank you for the comprehensive reply.

Original Post

from -

This is in direct contrast to the ZIP. the MG slice can only go on MG’s.

Im not bringing if this up again to be obtuse, I am writing a post about getting up and running quickly and compensation is something they sort with the zfnd then they can be up and running before the halving. - I am running under the assumption that they are going to negotiate it with the zfnd and it is not dependant on the MG slice existing.

it just a mistake on the blog post, right?

The zip and surrounding discussion says the ZFND should compensate them, if compensation is to happen.

from what I remember and i am not 100% on this, but I think it had to be in fiat because of the 501 status and the MGRC cannot profit from price swings - I think this rules out proper vesting too. I think adjusting the amount of zec based on fiat is okay tho.

As a side, I think the general feeling was that people should get fiat because some people might not be in a position to get zec due to where they live or other circumstances so to be inclusive, fiat was decided upon. (which is also why it cannot come from the MG slice)


I believe it could probably be either ZEC or fiat, the 501c part that matters is the amount that is transferred in USD terms for IRS paperwork.

For example, say ZFND compensated somebody $1,000 per month for working on the MGRC:

That could be $1,000 USD or 13.126 ZEC, (at current value of $76.18 per ZEC) as far as the IRS is concerned the taxable value is still $1,000 USD. Then next month the ZEC USD value moved up or down, that person would have to accept the new amount ZEC that $1,000 USD represented, higher or lower. The ZEC amount would be whatever market rate is at the exact time of the transaction.

I’m not sure about how/if vesting would fit here though.


We’re going to make a blogpost clarifying our stance on some of this in the next couple days