ZIP: 1008 Title: Fund ECC for Two More Years Owners: @kek (zcash forums) @mistfpga (zcash forums) <steve@mistfpga.net> Status: Draft Category: Consensus Created: 2019-09-02 License: CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0/> Discussions-To: <https://forum.zcashcommunity.com/t/kek-s-proposal-fund-ecc-for-2-more-years/34778>
The key words "MUST" and "MUST NOT" in this document are to be interpreted as described in RFC 2119. 2
For clarity this ZIP defines these terms:
1 | If there is contradiction between Spirit and any other part of the proposal that needs to be addressed, in the event it is not addressed Spirit is assumed to overrule all. |
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Everything except moving the development fund end date.
The spirit of this proposal is to keep to the current structure of the Electric Coin Company (ECC) receiving funding from the block distribution for two years' worth of blocks after the first halving in October 2020.
To give more time to work out the full ramifications of any potential pivot / slow down, yet keep "all in on ZEC" for two more years with as little disruption as possible.
Nothing about distribution recipients changes.
The current distribution of the Founders’ Reward is dependent on arrangements between the participants that will, if not explicitly renewed, expire at the first halving. There are currently direct and indirect recipients other than the ECC and Zcash Foundation. It is unclear whether funding of the ECC and Foundation is intended to continue at the current absolute ZEC rate, or at the same rate relative to the block subsidy which halves in October 2020. Further specification would be needed in order to fulfil and clarify the spirit of the proposal.
The 1.1m USD cap cannot be specified as a consensus rule since there is no on-chain oracle for the USD price.
Provisions that referred to specific block heights have been revised since they were inconsistent with the change in block target spacing 4 that will occur with the Blossom Network Upgrade 3; and even if recalculated, fixed block heights would potentially be inconsistent with future changes in target block spacing.
2 | Key words for use in RFCs to Indicate Requirement Levels |
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3 | ZIP 206: Deployment of the Blossom Network Upgrade |
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4 | ZIP 208: Shorter Block Target Spacing |
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