I would like to gather community sentiment for the grand idea that ZCG, by leading by example, move to self custody all funds moving into the next chapter of Zcash.
Pro’s, con’s, and everything in between.
Speaking for myself, I support it.
I don’t want some CEX controlling access to the communities funds.
I think this would force accounting into ZEC-only as well. I’m for it. The trade-off is that we don’t really know what a grant of “1000 ZEC” will be valued at in dollars on any given day. But, I think the trade-off is worth it. ZCG shouldn’t be hedging and promising $$$. ZCG gets ZEC from the block reward and grants should be numerated in ZEC. Instead of proposing to do X for $30,000, do X for 1000 ZEC. This could help promote the “zircular zeconomy” and make accounting for the ZCG more straightforward. The core of the zircular zeconomy is people willing to be compensated in ZEC. It also perhaps aligns incentives more. If a grant can help drive demand for ZEC, then all the better that the accounting is done in ZEC?
A bit orthogonal but I’d like to see more grants talking about what they are going to do with the ZEC directly rather than what they are going to do with the dollars they get from selling the ZEC. Sometimes this wont be possible. Some ZEC will need to be sold in some cases. But, I’m all for bending the curve towards more ZEC circulating natively.
I find it very interesting this type of proposal is not getting more attention. For those who insist on leaving funds in a CEX, what are your top two reasons for risking funds in a CEX vs risking using something like FROST or something equivalent ?
This idea of distribution only in Zec, forgetting the USD parity, would be ideal. But soon there will be no more distribution, there will no longer be a development fund and the people involved will have to seek their own financing.
I must have missed this post, but I wasn’t aware that ZCG currently held their funds on a CEX? Do you have more details on this?
I am fully supportive of self custody as 1) it promotes actual usuage of the network and 2) removes counterparty risk of the custodians (even if it someone as reputable as coinbase or gemini)
I have some questions about the Zashi wallet and would like to get in touch with someone reguarding restore wallet function. Thanks new to forum so not sure if this would be the rite place for help