- The founders and investors took 10% of the block reward, but they spend more than what came in and were therefore looking for a new funding model.
- The general community fund (20% of the block rewards) will be allocate with 35% to ECC, 25% to the foundation and 40% to third party developers.
- Members of the Zcash Community Forum along with a 72-person community advisory panel. Of the 112 eligible voters, 88 members cast ballots with the overwhelming majority calling for continued funding.
- No limitations for attracting the best talent.
- Community and investors but they spent more than they received.
- 80% to miners, 20% to a community development fund. These 20% part was further split into 3 groups: 35% to ECC, 25% to the Zcash Foundation, and 40% to third-party developers.
- Community Forum members and 72 people from the community advisory panel. Miners were not included because of a lack of participation.
- The ECC said that a cap would hinder its ability to attract talent.
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What was Zcash’s original funding model, and why did it need to be replaced?
Initially it was community and investor driven, but the expenses quickly outgrew what was raised. -
Under the new funding model, how is the general community fund allocated?
20% of newly mined coins went to the founders for “dev” -
Who was included in the final vote and why?
Community forum and advisory panel - 112 eligible voters, 88 members cast ballots -
What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
That the hard cap would hinder the organization’s ability to acquire and attract talent.
1: It was funded by the community and investors but the spending rate was to high for the funds coming in
2: Miners 80%, Development fund 20% ssplit into 3, ECC 35%, 25% Zcash Foundation, 40% third party developers
3:Community forum member and 72 from advisory panel. NO miners due to lack of participation.
4: ECC concluded that a cap would be detrimental to attracting great talent
- Launched in 2016, Zcash’s developer fund was on a four-year leash set to expire in November 2020. Known as the Founder’s Reward, 20 percent of block rewards were taken from miners and diverted towards Zcash’s founders and investors along with some assistance for continued development.
- The newly approved Zcash Improvement Proposal (ZIP) 1014 will now split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward. The 20 percent pool will be further split into three groups: 35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers.
- Votes were cast by members of the Zcash Community Forum along with a 72-person community advisory panel.
- ECC said any cap would hamstring the organization’s ability to attract talent.
- What was Zcash’s original funding model, and why did it need to be replaced?
Launched in 2016, zcash’s developer fund was on a four-year leash set to expire in November 2020. Known as the Founder’s Reward, 20 percent of block rewards were taken from miners and diverted towards zcash’s founders and investors along with some assistance for continued development.
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Under the new funding model, how is the general community fund allocated?
The newly approved Zcash Improvement Proposal (ZIP) 1014 will now split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward. The 20 percent pool will be further split into three groups: 35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers. -
Who was included in the final vote and why?
Votes were cast by members of the Zcash Community Forum along with a 72-person community advisory panel. Of the 112 eligible voters, 88 members cast ballots with the overwhelming majority calling for continued funding. -
What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
said any cap would hamstring the organization’s ability to attract talent.
What was Zcash’s original funding model, and why did it need to be replaced?
Zcash’s original funding model was, 20% block mining rewards to the founders until November 2020 and the rest of the block mining rewards to the miners. the Reason why it needed to be replaced was because the ECC handling the $$ was spending more than it was making. The New Model keeps the same 80/20% split but the 20% split is now split into 3. according to the article “35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers.”
Under the new funding model, how is the general community fund allocated?
its the same 80/20% split but the 20% split is now split into 3. according to the article “35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers.”
Who was included in the final vote and why?
quoted from the article " Votes were cast by members of the Zcash Community Forum along with a 72-person community advisory panel. Of the 112 eligible voters, 88 members cast ballots with the overwhelming majority calling for continued funding."
What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
Quoted from the article " Finally, the initial ZIP passed in the first voting round was effectively vetoed by the ECC. The ZIP placed an upper-bound dollar limit on funding the ECC through the new block reward distribution. For a firm on the bleeding edge of privacy advancements, the company said any cap would hamstring the organization’s ability to attract talent. As such, the ECC said it would not accept any proposal with similar constraints."
- What was Zcash’s original funding model, and why did it need to be replaced? The original funding was by the community and other investors. However it was spending more than it earnt and could not support growth.
2.Under the new funding model, how is the general community fund allocated? The block mining rewards will now be split 80/20 with miners and a community fund for coin devs. This 20% pool is further split into 35% for EEC, 25% for the Zcash Foundation and 40% for third party devs. - Who was included in the final vote and why? The Zcash community and a advisory panel. 88 of 112 elligable voters by significant mojority voted to continue funding.
- What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding? Well obviously all fiat goes to zero so there is no dollar amount that would work. For a cutting edge firm it would only make sense to use crypto rewards if they are to attract tallented developers.
- It was funded by the community and investors, apparently they spent to much.
- It will split the block reward 80/20 for miners and development fund of which 35% will be left to the ECC, 25% to Zcash fundation and 40% to third party developers.
- Votes were cast by members of the Zcash Community Forum along with a 72-person community advisory panel.
- It would impact the organization’s ability to attract talent.
2 Likes
- What was Zcash’s original funding model, and why did it need to be replaced?
- 20% went to Zcash founders, investors and for development. This developer fund was replaced by a community fund to allow more decentralisation.
- Under the new funding model, how is the general community fund allocated?
- The 20% of the block rewards are split: 35% for the ECC, 25% for the ZCash Foundation and 40% for third-party developers.
- Who was included in the final vote and why?
- Zcash Community Forum members, along with a 72 person community advisory panel.
- What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
- Any cap would hamstring the organization’s ability to attract talent.
1: The original Zcash funding model was, community and investors.
Replaced due to them spending too much.
2: The general community fund is allocated 80/20 between the miners and the community around it.
3: In the first vote the Zcash community forum members and advisors were included, miners not due to lack of participation
4: The upper bound dollar limit was rejected on their block reward funding because of its ability to attract talent.
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What was Zcash’s original funding model, and why did it need to be replaced? The Initial Founders Reward took 20% of mining block rewards from miners and was diverted to founders and investors with some assistance for continued development. The ECC was spending more than it was taking in, which was not good for attracting investors.
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Under the new funding model, how is the general community fund allocated? The new Zcash Improvement Proposal (ZIP), will split block mining rewards 80/20 between miners and a general community fund for development purposes.
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Who was included in the final vote and why? Members of the Zcash foundation along with a 72 person advisory panel. Both the Zcash Foundation and ECC accepted the proposal.
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What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding? They felt it would limit the organization’s ability to attract talent.
1 community and other investors
2 Zash Improved Proposal “will now split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward. The 20 percent pool will be further split into three groups: 35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers.”
3 members of the Zcash community and community advisors, total 112 voters
4 Any limit would impeed the ECC’s ability to attract talent
1 Like
What was Zcash’s original funding model, and why did it need to be replaced?
It was funded by the community and investors, but they spent more than they had
Under the new funding model, how is the general community fund allocated?
80% to miners, 20% to a community development fund. These 20% part was further split in 3 groups: 35% to ECC, 25% to the Zcash Foundation and 40% to third-party developers
Who was included in the final vote and why?
Zcash Community Forum members, along with a 72 person community advisory panel
What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
Any limit/cap would have ham stringed the ECC’s ability to attract talent
1 Like
- What was Zcash’s original funding model, and why did it need to be replaced? The original funding model was to hire top talent. It was replaced by a new vote to fund public blockchains through a de facto miner tax and to limit the original founder’s award.
- Under the new funding model, how is the general community fund allocated? The newly approved Zcash Improvement Proposal (ZIP) 1014 will now split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward. The 20 percent pool will be further split into three groups: 35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers.
- Who was included in the final vote and why? ZEC. Because blockchain voting has yet to solve the challenges associated with manipulation or sybil attacks.
- What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding? Because ECC said any cap would hamstring the organization’s ability to attract talent.
1 Like
- What was Zcash’s original funding model, and why did it need to be replaced?
- It was funded mostly by community, but that was not enough to support growth, regulatory compliance and innovations.
- Under the new funding model, how is the general community fund allocated?
- Block rewards are split 80/20 between miners and developers.
- The 20% are then split 35/25/40 between ECC, Zcash foundation and third-party developers.
- This means that the founders reward is no longer capped at 10% of total supply.
- Who was included in the final vote and why?
- 112 members of the Zcash community forum were included, 88 of them voted.
- Miners were not included in the final voting as they didn’t participate in the first round.
- What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
- It would limit the ability to attract skilled developers.
2 Likes
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Founder’s reward. 10% of the total ZEC supply will be awarded from mining. ECC spent more than they took in, so this did not work.
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It will now split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward. The 20 percent pool will be further split into three groups: 35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers.
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Third party developers
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Any cap would hamstring the organization’s ability to attract talent.
1 Like
The original zcash financial model came in the form of a Founders Reward as its development fund. Under this model, block rewards would be distributed *0% to Miners 20% to Founders Reward. The founders reward was shared by investors and Founders and little of the funds were diverted toward continued development and innovation within the project. This Founders Reward model is set to expire on Nov 30, 2020. It has already been passed by vote that the new development fund model would be newly divided with 40% of the overall 20% Block Reward reserved for third party developers.
The Founder Reward has been replaced with a General Community fund insofar that the ECC receives 35%, ZEC Foundation receives 25%, and the aforementioned development fund portion is set at 40% .Including these funds specifically for developer talent in the referendum for final vote was critical, so as to remain competitive in the future to further boost decentralization. Concerning rejections to a suggestion that the funding of the development fund have an upper bound dollar limit, project managers and staff reiterated that in order to remain competitive and grow, monetary investments would be needed in hiring the best talent in the industry, and that setting dollar amounts would be counterproductive and futile.
1 Like
- What was Zcash’s original funding model, and why did it need to be replaced?
Zcash’s Developer Fund set to expire in November 2020, also know as the Founder’s Reward, 20 percent of block rewards were taken from miners and diverted towards Zcash’s Founders and Investors along with some assistance for continued development.
Zcash Improvement Proposal 1014 will now split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward.
- Under the new funding model, how is the general community fund allocated?
The 20 percent pool will be further split into three groups: 35% for ECC, 25% for the Zcash Foundation and 40% for Third-Party Developers
- Who was included in the final vote and why?
Zcash Community Forum members, along with a 72 person community advisory panel.
- What was ECC’s reason for rejecting an ‘upper-bound dollar limit’ on their block reward funding?
For a firm on the bleeding edge of privacy advancements, the company said any cap would hamstring the organization’s ability to attract talent.
1 Like
1.funded by community and investors but ECC was spending more than being put it.
2.split block mining rewards 80/20 between miners and a general community fund for coin development in a similar manner to the initial Founder’s Reward. The 20 percent pool will be further split into three groups: 35 percent for the ECC, 25 percent for the Zcash Foundation and 40 percent for third-party developers
3.Zcash Community Forum members, along with a 72 person community advisory panel.
4. company said any cap would hamstring the organization’s ability to attract talent. As such, the ECC said it would not accept any proposal with similar constraints.
1 Like