diff --git a/README.rst b/README.rst index 55eb2845..5c6e5eeb 100644 --- a/README.rst +++ b/README.rst @@ -94,6 +94,7 @@ Released ZIPs
These are works-in-progress that have been assigned ZIP numbers. These will eventually become either Proposed (and thus Released), or one of Withdrawn, Rejected, or Obsolete.
@@ -116,7 +117,6 @@Motivation for the Zcash Development Fund itself is considered in ZIPs 1014 13, and 1015 14 which give a high-level descriptions of the intended structure of the funds.
+Motivation for the Zcash Development Fund itself is considered in ZIPs 1014 13 and 1015 14, which give high-level descriptions of the intended structure of the funds.
An important motivation for describing the consensus rules in a separate ZIP is to avoid making unintended changes to ZIPs 1014 and 1015, which have already been agreed between ECC, ZF, and the Zcash community. This facilitates critically assessing whether the consensus rule changes accurately reflect the intent of ZIPs 1014 and 1015.
Since ZIP 1014 specifies that the Zcash Development Fund starts at the first halving, the activation height of Canopy on Mainnet therefore SHALL be 1046400.
Revision 0 of ZIP 207 9 SHALL be activated in Canopy.
-Since ZIP 1015 specifies that the specified funding streams start at the second halving, the the activation height of NU6 on Mainnet therefore SHALL be 2726400.
+Since ZIP 1015 specifies that the specified funding streams start at the second halving, the activation height of NU6 on Mainnet therefore SHALL be 2726400.
Revision 1 of ZIP 207 9 SHALL be activated in NU6.
As specified in 9, a funding stream is active for a span of blocks that includes the block at its start height, but excludes the block at its end height.
"Financial Privacy Foundation", also called "FPF", refers to the Cayman Islands-incorporated non-profit foundation company limited by guarantee of that name.
This ZIP proposes the allocation of a percentage of the Zcash block subsidy, post-November 2024 halving, split between Zcash Community Grants (ZCG) an in-protocol "lockbox." The "lockbox" is a separate pool of issued funds tracked by the protocol, as described in ZIP 2001: Lockbox Funding Streams 4. No disbursement mechanism is currently defined for this "lockbox"; the Zcash community will need to decide upon and specify a suitable decentralized mechanism for permitting withdrawals from this lockbox in a future ZIP in order to make these funds available for funding grants to ecosystem participants.
+This ZIP proposes the allocation of a percentage of the Zcash block subsidy, post-November 2024 halving, split between Zcash Community Grants (ZCG) and an in-protocol "lockbox." The "lockbox" is a separate pool of issued funds tracked by the protocol, as described in ZIP 2001: Lockbox Funding Streams 4. No disbursement mechanism is currently defined for this "lockbox"; the Zcash community will need to decide upon and specify a suitable decentralized mechanism for permitting withdrawals from this lockbox in a future ZIP in order to make these funds available for funding grants to ecosystem participants.
The proposed lockbox addresses significant issues observed with ZIP 1014 3, such as regulatory risks, inefficiencies due to funding of organizations instead of projects, and centralization. While the exact disbursement mechanism for the lockbox funds is yet to be determined and will be addressed in a future ZIP, the goal is to employ a decentralized mechanism that ensures community involvement and efficient, project-specific funding. This approach is intended to potentially improve regulatory compliance, reduce inefficiencies, and enhance the decentralization of Zcash's funding structure.