2019-11-25 19:55:17 -08:00
|
|
|
|
::
|
|
|
|
|
|
|
|
|
|
ZIP: 1013
|
|
|
|
|
Title: Keep It Simple, Zcashers: 10% to ECC, 10% to ZF
|
|
|
|
|
Owners: Gordon Mohr (@gojomo on relevant forums)
|
2020-02-27 09:54:18 -08:00
|
|
|
|
Status: Obsolete
|
2019-11-25 19:55:17 -08:00
|
|
|
|
Category: Consensus / Process
|
|
|
|
|
Created: 2019-11-14
|
|
|
|
|
License: Public Domain
|
|
|
|
|
Discussions-To: <https://forum.zcashcommunity.com/t/zip-keep-it-simple-zcashers-kisz-10-to-ecc-10-to-zfnd/35425>
|
2020-09-14 06:16:43 -07:00
|
|
|
|
Pull-Request: <https://github.com/zcash/zips/pull/293>
|
2019-11-25 19:55:17 -08:00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Terminology
|
|
|
|
|
===========
|
|
|
|
|
|
|
|
|
|
The key words "MUST" and "SHOULD" in this document are to be interpreted as
|
|
|
|
|
described in RFC 2119. [#RFC2119]_
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The terms below are to be interpreted as follows:
|
|
|
|
|
|
|
|
|
|
ECC
|
|
|
|
|
Electric Coin Company, a US-based limited-liability corporation.
|
|
|
|
|
ZF
|
|
|
|
|
Zcash Foundation, a US-based non-profit corporation.
|
|
|
|
|
Halvening
|
|
|
|
|
a regularly-scheduled discontinuity where the rate of ZEC issuance halves,
|
|
|
|
|
expected first in roughly October 2020 then next in roughly October 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abstract
|
|
|
|
|
========
|
|
|
|
|
|
|
|
|
|
This ZIP proposes:
|
|
|
|
|
|
|
|
|
|
After the 1st Zcash Halvening, when the "Founders’ Reward" system-
|
|
|
|
|
bootstrapping protocol-based development funding expires, continue to
|
|
|
|
|
direct 20% of new ZEC issuance to development-related activities for ongoing
|
|
|
|
|
research, development, innovation, and maintenance of Zcash.
|
|
|
|
|
|
|
|
|
|
Assign half of such funds to the ECC, and half to the ZF. Continue this
|
|
|
|
|
allocation until the 2nd Halvening.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Motivation
|
|
|
|
|
==========
|
|
|
|
|
|
|
|
|
|
There have been many proposals for potential allocations of Zcash block
|
|
|
|
|
rewards (ZEC inflation) after the 1st Halvening. Many cluster around similar
|
|
|
|
|
broad parameters:
|
|
|
|
|
|
|
|
|
|
* 20% of block rewards for continuing development efforts;
|
|
|
|
|
* provided to some combination of the Electric Coin Company (ECC),
|
|
|
|
|
Zcash Foundation (ZF), and other named or to-be-determined entities;
|
|
|
|
|
* conditioned on certain new allocation formulas or management practices,
|
|
|
|
|
often involving novel entities, personnel, and feedback/deliberation
|
|
|
|
|
processes.
|
|
|
|
|
|
|
|
|
|
However, no existing ZIPs explicitly propose the most simple variation
|
|
|
|
|
on this theme - one that maintains maximal continuity with prior practice.
|
|
|
|
|
This 'Keep It Simple, Zcashers' ZIP aims to fill that gap.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Requirements
|
|
|
|
|
============
|
|
|
|
|
|
|
|
|
|
This proposal intends to be easy to describe, understand, and implement.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-requirements
|
|
|
|
|
================
|
|
|
|
|
|
|
|
|
|
This proposal does not seek to propose any particular course of action
|
|
|
|
|
past the 2nd Halvening.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Specification
|
|
|
|
|
=============
|
|
|
|
|
|
|
|
|
|
To implement this ZIP, the Zcash protocol and compatible software MUST:
|
|
|
|
|
|
|
|
|
|
* maintain a 20% allotment of new ZEC issuance to development activities
|
|
|
|
|
through to the 2nd Halvening event (expected around October 2024);
|
|
|
|
|
* formalize a 50-50 relative allocation between the ECC and ZF;
|
|
|
|
|
* deliver these ZEC to addresses provided by the recipients, in a manner
|
|
|
|
|
analogous to the original "Founders’ Reward" consensus-encoded block
|
|
|
|
|
rewards, or any other technically- and/or legally- preferred method
|
|
|
|
|
agreed to by the ECC & ZF.
|
|
|
|
|
|
|
|
|
|
This proposal specifically refrains from adding any new conditions or
|
|
|
|
|
procedural formalities, technical or legal, on the delivery of development
|
|
|
|
|
funds.
|
|
|
|
|
|
|
|
|
|
There is only the expectation that these recipients SHOULD continue the
|
|
|
|
|
stated missions, practices of transparency, and responsiveness to community
|
|
|
|
|
input that they have demonstrated thus far.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discussion
|
|
|
|
|
==========
|
|
|
|
|
|
|
|
|
|
This proposal primarily differs from similar proposals in two ways: (1) it
|
|
|
|
|
places no new comditions/processes on the disbursement of ZEC development
|
|
|
|
|
funds; (2) it specifies a fixed, 50-50 division-of-funds between the ECC and
|
|
|
|
|
ZF.
|
|
|
|
|
|
|
|
|
|
These differences are motivated by a desire for simplicity and continuity.
|
|
|
|
|
This allocation can be implemented technically without novel institutions,
|
|
|
|
|
processes, or legal agreements.
|
|
|
|
|
|
|
|
|
|
Rather than relying on lists-of-conditions with underspecified enforcement or
|
|
|
|
|
dispute-resolution mechanisms, the adequate performance of fund recipients is
|
|
|
|
|
expected due to:
|
|
|
|
|
|
|
|
|
|
* aligned incentives, especially the fact that the value of all funds received
|
|
|
|
|
over 4 years depends completely on the continued health & growth of the Zcash
|
|
|
|
|
ecosystem;
|
|
|
|
|
* proven records of dedication to the Zcash project, and effective efforts on
|
|
|
|
|
related projects, by receipient entities & personnel – even in the absence
|
|
|
|
|
of formalized funding conditions.
|
|
|
|
|
|
|
|
|
|
From original "Founders’ Reward"-era development-funds, roughly 15% has been
|
|
|
|
|
directed to the ZF. (Or, about 3 points of the full 20 points of bootstrap-
|
|
|
|
|
funds.) However, from its later start, the ZF has recently grown its
|
|
|
|
|
technical, grantmaking, and organizational capabilities, and wide sentiment in
|
|
|
|
|
the Zcash community, ECC, and ZF desires the ZF grow to a role of equivalent
|
|
|
|
|
or greater importance as the ECC for long-term Zcash evolution. Thus this
|
|
|
|
|
proposal specifies a 50:50 split of future development funds, rather than
|
|
|
|
|
continuing any prior proportions.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
References
|
|
|
|
|
==========
|
|
|
|
|
|
2020-02-29 07:51:03 -08:00
|
|
|
|
.. [#RFC2119] `Key words for use in RFCs to Indicate Requirement Levels <https://www.rfc-editor.org/rfc/rfc2119.html>`_
|