diff --git a/zip-1014.rst b/zip-1014.rst index 8959f6de..b072a3e2 100644 --- a/zip-1014.rst +++ b/zip-1014.rst @@ -219,7 +219,7 @@ following additional constraints: 6. Major Grants awarding is subject to approval by a five-seat Major Grant Review Committee. The Major Grant Review Committee will be selected by the - ZF's Community Advisory Panel. The Major Grant Review Committee's funding + ZF's Community Panel. The Major Grant Review Committee's funding decisions will be final, requiring no approval from the ZF Board, but are subject to veto if the Foundation judges them to violate the ZF's operating documents or U.S. law. @@ -231,7 +231,7 @@ following additional constraints: a financial interest). Additionally, no one with interest in or association with the ECC may sit on the Major Grant Review Committee --- since the ECC can be a beneficiary, this avoids those potential conflicts altogether. - The ZF will continue to operate the Community Advisory Panel and will work + The ZF will continue to operate the Community Panel and will work toward making it more representative and independent (more on that below). ZF shall recognize the ZF-MG slice of the Dev Fund as a Restricted Fund @@ -284,7 +284,7 @@ The Volatility Reserve may be kept as ZEC, or sold and held as fiat currency or investments (whose profits will remain in the Volatility Reserve). The Funding Target may be changed only by unanimous agreement of ZF, ECC, and -the majority vote of the Community Advisory Panel. (In case of excessive +the majority vote of the Community Panel. (In case of excessive accumulation of reserves, the community can condition an increase of the Funding Target on the redirection of some of the reserves to a different entity, miners or an airdrop.) @@ -362,7 +362,7 @@ Future Community Governance --------------------------- Decentralized community governance is used in this proposal via the Community -Advisory Panel in the following places: +Panel in the following places: 1. As input into the Major Grant Review Committee which governs the `ZF-MG slice (Zcash Foundation, for major grants)`_. @@ -370,7 +370,7 @@ Advisory Panel in the following places: 2. For changing the `Funding Target and Volatility Reserve`_. It is highly desirable to develop robust means of decentralized community -voting and governance --- either by expanding the Community Advisory Panel +voting and governance --- either by expanding the Community Panel or a successor mechanism --- and to integrate them into both of these processes, by the end of 2021. ECC and ZF should place high priority on such development and its deployment, in their activities and grant selection. @@ -388,7 +388,7 @@ by 1 November 2021. (The grace period is to allow for orderly replacement, and also to allow time for ECC corporate reorganization related to Dev Fund receipt, which may affect how disposition of equity would be executed.) -The Foundation will endeavor to use the Community Advisory Panel (or successor +The Foundation will endeavor to use the Community Panel (or successor mechanism) as advisory input for future board elections.