Hey @joshs @paulbrigner, seems like according to FIT21, Zcash should plan expiring the dev fund, otherwise risks being considered a security.
FIT21 seems to be introducing the “howey test of crypto”>
- power rule
tl;dr must be permissionless to use
- ownership and voting
tl;dr no insider / affiliated person with more than 20% of supply
-
no changes without consensus (PoW/PoS) or agreement of DAO
-
no marketing as investment
-
100% of last 12-month inflation must go to end-users!
What’s your take? I’m posting here just to make sure this doesn’t get unnoticed. I’d have created a new thread on FIT21 discussion, unfortunately, I’m unable to do so.