The Last Swing of The Stick

A sign from above.

at the risk of derailing other threads, I’m posting these DM reflections here for public view

100% agree. If my proposal continues to get criticism, I’ll at some point have to speak against it and support Skyl’s proposal - which is essentially “Take Josh’s Proposal, but minus the extension”

The 1 year extension would set a really bad precedent… and also consider the math of it.

1 more year of Dev Fund provides

ECC - with another 45k ZEC ( at $30 ZEC - $1.3 million)
ZF - with another 33k ZEC ( $1 million)
ZCG - with another 52k ZEC ( $1.5 million)

Those USD amounts are almost pointless (especially so if ZEC stays even lower… suppose $25 or less), ZCG can spend that in 3 large grants. ECC and ZF spend those amounts in less than 3 months of operating expenses.

The extension doesn’t really serve much of a purpose if ZEC remains trapped so low against USD. And like you’re saying, I think an extension runs a huge risk of further frustrating the market/ Zcash investors - creating a self fulfilling prophecy where ZEC lags below $30-40 much longer than necessary.

If they eliminate the extension idea, providing clarity for November; that has good odds to be received as bullish catalyst for the market, the value of ZEC could have a better shot at rallying back to $50 or $60. Also keep in mind the many other catalysts that are already coming along in the years to come.

Crunching the numbers in a practical sense, with a 1-year extension and $30 ZEC, its the same equivalent to no extension, but ZEC is up at $60 next year.

As I’ve been saying for a while “Virtuous Growth Cycle” - with an extension, its the Dev Fund teams that get the extra funds at the expense of investors who have to keep holding $30 ZEC

Without the extension, and speculating that ZEC could return up to $50-60 - both the Dev teams And Zcash Investors Win

The 1 year extension feels like a lot of work, for marginal returns. Diminished ZCG funding/ ecosystem support sucks, but it is part of the crisis caused by chronically weak ZEC.

Also keep in mind that there is heightened regulatory risk in having the software engineers once again hard coding special wallet addresses into a new protocol upgrade.


POS is complex and not-tested enough for censorship resistance or privacy that i agree

I didn’t say that, I support PoS

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yea i just agreed with part of your statement that POS is super complex

others part is form me about censorship resistance or privacy

The main problem with letting the Dev Fund expire in November is keeping the smaller projects going. We’re talking about ZCG grant recipients. So perhaps there can be a combination of @joshs’s and @skyl’s proposals, meaning ZCG is the only org that gets an extension (similar to Josh’s proposal) and the rest of the funds go into some sort of storage (similar to Skylar’s proposal), while the non-direct model is being worked out.

This is what I like about the Dev Fund: since the funds originate in the community of ZEC holders, the community maintains its position as the key stakeholder. This means that the projects funded by the Dv Fund are accountable to the community. Developers that will get their funding from other sources will have to be accountable to those sources. There’s an expression, “whoever pays gets to choose the music.” The Dev Fund could be a great thing when it’s not mishandled. I’d hate to see us throw the baby out with the bathwater.