mirror of https://github.com/zcash/zips.git
Merge pull request #302 from daira/zip1013
ZIP 1013: Keep It Simple, Zcashers: 10% to ECC, 10% to ZF
This commit is contained in:
commit
4c3d52b342
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@ -93,5 +93,6 @@ Index of ZIPs
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<tr> <td>1009</td> <td class="left"><a href="zip-1009.rst">Five-Entity Strategic Council</a></td> <td>Draft</td>
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<tr> <td>1010</td> <td class="left"><a href="zip-1010.rst">Compromise Dev Fund Proposal With Diverse Funding Streams</a></td> <td>Draft</td>
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<tr> <td>1011</td> <td class="left"><a href="zip-1011.rst">Decentralize the Dev Fee</a></td> <td>Draft</td>
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<tr> <td>1013</td> <td class="left"><a href="zip-1013.rst">Keep It Simple, Zcashers: 10% to ECC, 10% to ZF</a></td> <td>Draft</td>
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<tr> <td>guide</td> <td class="left"><a href="zip-guide.rst">{Something Short and To the Point}</a></td> <td>Draft</td>
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</table></embed>
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@ -93,6 +93,7 @@
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<tr> <td>1009</td> <td class="left"><a href="zip-1009">Five-Entity Strategic Council</a></td> <td>Draft</td>
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<tr> <td>1010</td> <td class="left"><a href="zip-1010">Compromise Dev Fund Proposal With Diverse Funding Streams</a></td> <td>Draft</td>
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<tr> <td>1011</td> <td class="left"><a href="zip-1011">Decentralize the Dev Fee</a></td> <td>Draft</td>
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<tr> <td>1013</td> <td class="left"><a href="zip-1013">Keep It Simple, Zcashers: 10% to ECC, 10% to ZF</a></td> <td>Draft</td>
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<tr> <td>guide</td> <td class="left"><a href="zip-guide">{Something Short and To the Point}</a></td> <td>Draft</td>
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</table></embed></section>
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</section>
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<!DOCTYPE html>
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<html>
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<head>
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<title>ZIP 1013: Keep It Simple, Zcashers: 10% to ECC, 10% to ZF</title>
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<meta charset="utf-8" />
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<link rel="stylesheet" href="css/zip-style.css"><link rel="stylesheet" href="assets/css/style.css"></head>
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<body>
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<section>
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<pre>ZIP: 1013
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Title: Keep It Simple, Zcashers: 10% to ECC, 10% to ZF
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Owners: Gordon Mohr (@gojomo on relevant forums)
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Status: Draft
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Category: Consensus / Process
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Created: 2019-11-14
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License: Public Domain
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Discussions-To: <https://forum.zcashcommunity.com/t/zip-keep-it-simple-zcashers-kisz-10-to-ecc-10-to-zfnd/35425></pre>
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<section id="terminology">
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<h2>Terminology</h2>
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<p>The key words "MUST" and "SHOULD" in this document are to be interpreted as described in RFC 2119. <a href="#rfc2119" id="id1" class="footnote_reference">1</a></p>
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<p>The terms below are to be interpreted as follows:</p>
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<dl>
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<dt>ECC</dt>
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<dd>Electric Coin Company, a US-based limited-liability corporation.</dd>
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<dt>ZF</dt>
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<dd>Zcash Foundation, a US-based non-profit corporation.</dd>
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<dt>Halvening</dt>
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<dd>a regularly-scheduled discontinuity where the rate of ZEC issuance halves, expected first in roughly October 2020 then next in roughly October 2024.</dd>
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</dl>
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</section>
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<section id="abstract">
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<h2>Abstract</h2>
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<p>This ZIP proposes:</p>
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<p>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.</p>
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<p>Assign half of such funds to the ECC, and half to the ZF. Continue this allocation until the 2nd Halvening.</p>
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</section>
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<section id="motivation">
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<h2>Motivation</h2>
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<p>There have been many proposals for potential allocations of Zcash block rewards (ZEC inflation) after the 1st Halvening. Many cluster around similar broad parameters:</p>
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<ul>
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<li>20% of block rewards for continuing development efforts;</li>
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<li>provided to some combination of the Electric Coin Company (ECC), Zcash Foundation (ZF), and other named or to-be-determined entities;</li>
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<li>conditioned on certain new allocation formulas or management practices, often involving novel entities, personnel, and feedback/deliberation processes.</li>
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</ul>
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<p>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.</p>
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</section>
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<section id="requirements">
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<h2>Requirements</h2>
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<p>This proposal intends to be easy to describe, understand, and implement.</p>
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</section>
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<section id="non-requirements">
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<h2>Non-requirements</h2>
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<p>This proposal does not seek to propose any particular course of action past the 2nd Halvening.</p>
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</section>
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<section id="specification">
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<h2>Specification</h2>
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<p>To implement this ZIP, the Zcash protocol and compatible software MUST:</p>
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<ul>
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<li>maintain a 20% allotment of new ZEC issuance to development activities through to the 2nd Halvening event (expected around October 2024);</li>
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<li>formalize a 50-50 relative allocation between the ECC and ZF;</li>
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<li>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.</li>
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</ul>
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<p>This proposal specifically refrains from adding any new conditions or procedural formalities, technical or legal, on the delivery of development funds.</p>
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<p>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.</p>
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</section>
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<section id="discussion">
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<h2>Discussion</h2>
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<p>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.</p>
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<p>These differences are motivated by a desire for simplicity and continuity. This allocation can be implemented technically without novel institutions, processes, or legal agreements.</p>
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<p>Rather than relying on lists-of-conditions with underspecified enforcement or dispute-resolution mechanisms, the adequate performance of fund recipients is expected due to:</p>
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<ul>
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<li>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;</li>
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<li>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.</li>
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</ul>
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<p>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.</p>
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</section>
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<section id="references">
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<h2>References</h2>
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<table id="rfc2119" class="footnote">
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<tbody>
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<tr>
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<th>1</th>
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<td><a href="https://tools.ietf.org/html/rfc2119">Key words for use in RFCs to Indicate Requirement Levels</a></td>
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</tr>
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</tbody>
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</table>
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</section>
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</section>
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</body>
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</html>
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@ -0,0 +1,135 @@
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::
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ZIP: 1013
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Title: Keep It Simple, Zcashers: 10% to ECC, 10% to ZF
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Owners: Gordon Mohr (@gojomo on relevant forums)
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Status: Draft
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Category: Consensus / Process
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Created: 2019-11-14
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License: Public Domain
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Discussions-To: <https://forum.zcashcommunity.com/t/zip-keep-it-simple-zcashers-kisz-10-to-ecc-10-to-zfnd/35425>
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Terminology
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===========
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The key words "MUST" and "SHOULD" in this document are to be interpreted as
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described in RFC 2119. [#RFC2119]_
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The terms below are to be interpreted as follows:
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ECC
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Electric Coin Company, a US-based limited-liability corporation.
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ZF
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Zcash Foundation, a US-based non-profit corporation.
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Halvening
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a regularly-scheduled discontinuity where the rate of ZEC issuance halves,
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expected first in roughly October 2020 then next in roughly October 2024.
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Abstract
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========
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This ZIP proposes:
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After the 1st Zcash Halvening, when the "Founders’ Reward" system-
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bootstrapping protocol-based development funding expires, continue to
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direct 20% of new ZEC issuance to development-related activities for ongoing
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research, development, innovation, and maintenance of Zcash.
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Assign half of such funds to the ECC, and half to the ZF. Continue this
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allocation until the 2nd Halvening.
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Motivation
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==========
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There have been many proposals for potential allocations of Zcash block
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rewards (ZEC inflation) after the 1st Halvening. Many cluster around similar
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broad parameters:
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* 20% of block rewards for continuing development efforts;
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* provided to some combination of the Electric Coin Company (ECC),
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Zcash Foundation (ZF), and other named or to-be-determined entities;
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* conditioned on certain new allocation formulas or management practices,
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often involving novel entities, personnel, and feedback/deliberation
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processes.
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However, no existing ZIPs explicitly propose the most simple variation
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on this theme - one that maintains maximal continuity with prior practice.
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This 'Keep It Simple, Zcashers' ZIP aims to fill that gap.
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Requirements
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============
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This proposal intends to be easy to describe, understand, and implement.
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Non-requirements
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================
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This proposal does not seek to propose any particular course of action
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past the 2nd Halvening.
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Specification
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=============
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To implement this ZIP, the Zcash protocol and compatible software MUST:
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* maintain a 20% allotment of new ZEC issuance to development activities
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through to the 2nd Halvening event (expected around October 2024);
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* formalize a 50-50 relative allocation between the ECC and ZF;
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* deliver these ZEC to addresses provided by the recipients, in a manner
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analogous to the original "Founders’ Reward" consensus-encoded block
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rewards, or any other technically- and/or legally- preferred method
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agreed to by the ECC & ZF.
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This proposal specifically refrains from adding any new conditions or
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procedural formalities, technical or legal, on the delivery of development
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funds.
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There is only the expectation that these recipients SHOULD continue the
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stated missions, practices of transparency, and responsiveness to community
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input that they have demonstrated thus far.
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Discussion
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==========
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This proposal primarily differs from similar proposals in two ways: (1) it
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places no new comditions/processes on the disbursement of ZEC development
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funds; (2) it specifies a fixed, 50-50 division-of-funds between the ECC and
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ZF.
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These differences are motivated by a desire for simplicity and continuity.
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This allocation can be implemented technically without novel institutions,
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processes, or legal agreements.
|
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|
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Rather than relying on lists-of-conditions with underspecified enforcement or
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dispute-resolution mechanisms, the adequate performance of fund recipients is
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expected due to:
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* aligned incentives, especially the fact that the value of all funds received
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over 4 years depends completely on the continued health & growth of the Zcash
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ecosystem;
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* proven records of dedication to the Zcash project, and effective efforts on
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related projects, by receipient entities & personnel – even in the absence
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of formalized funding conditions.
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From original "Founders’ Reward"-era development-funds, roughly 15% has been
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directed to the ZF. (Or, about 3 points of the full 20 points of bootstrap-
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funds.) However, from its later start, the ZF has recently grown its
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technical, grantmaking, and organizational capabilities, and wide sentiment in
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the Zcash community, ECC, and ZF desires the ZF grow to a role of equivalent
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or greater importance as the ECC for long-term Zcash evolution. Thus this
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proposal specifies a 50:50 split of future development funds, rather than
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continuing any prior proportions.
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References
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==========
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.. [#RFC2119] `Key words for use in RFCs to Indicate Requirement Levels <https://tools.ietf.org/html/rfc2119>`_
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