Thanks @pacu for letting me know about this discussion. I’m late by a few days! When thinking about Zcashers that are not on the forum much if at all, that’s ME. And yet, for the past year, every of the 366 days, I have thought about Zcash every day, for hours. Every single day! Building the ZavaX bridge and the red·bridge L1 has taken priority over staying current on the forum.
@joshs is 100% right that “The Zcash protocol itself must remain pristine,” and I agree with @daira that QEDIT’s version of ZSAs should be called a surveillance protocol. I first heard inklings of this design (ahem) “feature” at Zcon4, and I winced, but I saw the likelihood of the community removing the surveillance feature before integration and only releasing vanilla ZSAs, and I just crossed my fingers on that.
Zcash’s unique value proposition is that it provides privacy and selective disclosure features that are 100% under the control of the user. If government or anyone else wants to view transactions, they have to go through the user and request the viewing key; no sneak-and-peek is possible. If we were to allow Circle the feature-set they say that they need to release USDC (a centrally-controlled surveillance coin) as a ZSA, we break Zcash’s unique value proposition and mark my words, Zcash becomes worthless.
ZSAs imho are crucial for the success of Zcash. One use-case for the ZavaX bridge is for DeFi users to use Zcash as a private savings account, just as @zooko has described for years, but most DeFi users do not want to tie up their weath in ZEC, a coin that has a poor track record as a store-of-value. A coin tied to the price of BTC would be much more appealing to them, as would a yield-bearing asset. Both would be possible with vanilla ZSAs and the ZavaX bridge. Neither are stable coins.
I actually think it’s a shame the grant was terminated so quickly. A better course of action imo would have been to wait for QEDIT to release their ZIPs and then edit them to the community’s liking and offer QEDIT or another team a chance to finish the job. Perhaps this is still possible.
Finally, on the topic of money and $600K being a large grant, I can speak to that with some personal experience as the CEO of a company that has received a grant in the same order of magnitude ($210K). Software development, even when done on a shoestring, is expensive. (Without additional sources of funds, the ZavaX project would be dead in the water, and my having to devote considerable time to fundraising is why we are operating behind schedule.) A complex project such as ZSAs is going to take time and money, so from my perspective, $600K is fair for this amount of work.
I continue to be impressed by the dedication of the Zcash community and am honored to be building software with you. As the ECC CEO says, Onward!