Verification of large treasury handlers
Under ZIP 1014, Zcash Community Grants received 8% of block rewards through the 2nd halving. With NU6 that 8% continued, and 12% began to accrue in a protocol lockbox. NU6.1 now moved that 12% into a coinholder-directed fund under ZIP 1016, while ZCG continues to receive the 8% stream.
At current pricing, the combined long-horizon runway for grants and retroactive programs is in nine-figure territory. When scale and horizon change, the governance surface changes with them.
The committee is transparent and has maintained continuity across cycles. The gap that now exists is structural. At this magnitude, a minimal verification layer becomes necessary.
The requirement is simple. For any entity holding more than $5M equivalent of community treasury funds for longer than 12 months, a uniform and lightweight proof standard should apply. Two mechanisms satisfy it:
• an annual independent financial audit; or
• a narrow read-only view key with a quarterly balance and cost table aligned to approved allocations
The view-key option is deliberately constrained. It confirms custody and allocation adherence only. It confers no spending authority and does not reach into operations.
This preserves the separation of duties as they stand today.
ZCG allocates.
Custodians execute.
Verification sits above operations, not inside them.
At smaller scale, the existing structure was sufficient. At the present scale, the absence of continuous proof weakens clarity and increases long-horizon risk. This is not a critique of any custodian. It is a scale-adjustment rule.
The same evaluation filters apply here.
Impact: resources do not drift.
Clarity: spending is visible and verifiable.
Alignment: funds remain within mission and scope.
A long-horizon treasury without minimal verification weakens all three. Adding this layer strengthens the existing process rather than altering it.
Clear positions from candidates on whether they support a uniform verification rule at this scale will help the community understand the governance surface going forward. The scale and structure have changed for all custodians and all committees.
ShieldOrder