Zcash co-founder proposes redirecting grants allocation

Zcash co-founder Sean Bowe has proposed ending the automatic allocation of 8% of block subsidies to Zcash Community Grants and redirecting that share to the network’s Network Sustainability Mechanism, a reserve for future mining rewards. The draft has not been approved and would require a future network upgrade to take effect. Bowe’s proposal says the grants program has accumulated enough resources to continue supporting projects without receiving new automatic payments. It lists Zcash Community Grants, or ZCG, as holding about 91,453 ZEC and $8.8 million in cash, alongside approximately $2.4 million in outstanding grant commitments. Bowe has described the program’s total funding as exceeding $125 million; that estimate reflects the value of its holdings, including ZEC. Under the draft, the existing treasury would remain available to meet commitments already approved. The proposal also calls for stopping new grant approvals, paying outstanding approved milestones, and transferring any funds left in the treasury to the Network Sustainability Mechanism. The redirected subsidy allocation would be held in the reserve rather than distributed through grant payments. The change would...