Zcash Grants Committee Withdraws Plan to Redirect 98,000 ZEC

Zcash’s grants committee has withdrawn a proposal to redirect about 98,000 ZEC into future mining rewards, ending a plan that drew community opposition over how network funds should be allocated.

Submitted Oct. 29, the proposal would have sent the funds to mining rewards in future periods. ZCG abandoned the plan after community opposition and said future allocations should be decided through Zcash’s regular governance process. No replacement proposal has been approved.

ZCG receives 8% of newly issued ZEC and continues to collect about 144 ZEC per day until a network upgrade changes the rules. Questions about that ongoing funding grew after a spending controversy involving ZECsy, a project previously funded by the committee.

Sean Bowe, Zooko Wilcox and Daira-Emma Hopwood have each proposed funding reforms, but none has passed. The failed proposals have not established a different framework for ZCG’s share, which remains tied to the current rules pending a network upgrade.