+ ZIP: ####
+Title: Manufacturing Consent; Re-Establishing a Dev Fund for ECC, ZF, ZCG, Qedit, FPF, and ZecHub
+Owner: Noam Chom <noamchom1967@gmail.com>
+Credits: The ZIP-1014 Authors
+Status: Active
+Category: Consensus Process
+Created: 2024-06-25
+License: MIT
+Discussions-To: <https://forum.zcashcommunity.com/t/manufacturing-consent-noamchoms-nu6-block-reward-proposal/47155>
+Pull-Request: TBD
+ Terminology 
+ The key words "MUST", "MUST NOT", "SHALL", "SHALL NOT", "SHOULD", and "MAY" in this document are to be interpreted as described in BCP 14 when, and only when, they appear in all capitals.
+ The term "network upgrade" in this document is to be interpreted as described in ZIP 200 and the Zcash Trademark Donation and License Agreement ( or successor agreement).
+ The terms "block subsidy" and "halving" in this document are to be interpreted as described in sections 3.10 and 7.8 of the Zcash Protocol Specification.
+ "Electric Coin Company", also called "ECC", refers to the Zerocoin Electric Coin Company, LLC.
+ "Bootstrap Project", also called "BP", refers to the 501(c)(3) nonprofit corporation of that name.
+ "Zcash Foundation", also called "ZF", refers to the 501(c)(3) nonprofit corporation of that name.
+ "Section 501(c)(3)" refers to that section of the U.S. Internal Revenue Code (Title 26 of the U.S. Code).
+ "Community Advisory Panel" refers to the panel of community members assembled by the Zcash Foundation and described at .
+ "Zcash Community Grants", also called "ZCG", refers to grants program (formerly known as ZOMG) that funds independent teams entering the Zcash ecosystem, to perform major ongoing development (or other work) for the public good of the Zcash ecosystem. <https://zcashcommunitygrants.org/>
+ "Financial Privacy Foundation", also called "FPF" refers to the start-up non-profit organization incorporated and based in the Cayman Islands. <https://www.financialprivacyfoundation.org/>
+ "Qedit" refers to the company founded in 2016 by a world-class team of accomplished tech entrepreneurs, researchers, and developers; QEDIT has emerged as a global leader in the field of Zero-Knowledge Proofs. <https://qed-it.com/about-us/>
+ "ZecHub" refers to the team of content creators who have supported Zcash through a series of ZCG approved grants. <https://forum.zcashcommunity.com/t/zechub-an-education-hub-for-zcash-2024-continued/47947>
+ The terms "Testnet" and "Mainnet" are to be interpreted as described in section 3.12 of the Zcash Protocol Specification .
+ The term "ZSA" is to be interpreted as "Zcash Shielded Assets" the protocol feature enhancement (and subsequent application layer, legal, maintenance efforts, et al) on-going by Qedit, et al. <https://forum.zcashcommunity.com/t/grant-update-zcash-shielded-assets-monthly-updates/41153>
+ ✳️ is used to denote elements of the process part of the ZIP that are still to-be-determined.
+
+ Abstract 
+ This proposal describes a structure for the Zcash Development Fund, to be enacted in Network Upgrade 6 and last for 4 years. This Dev Fund would consist of 15% of the block subsidies, as the following allocations:
+
+ - 5% for the Zcash Foundation (for internal work and grants);
+ - 4% for the Bootstrap Project (the parent of the Electric Coin Company) for the 1st year only;
+ - 4% for Zcash Community Grants for continuation of their current activities as-is;
+ - 2% for Qedit in support of their ZSA activities, and other Zcash protocol support;
+
+ Following the first year, when ECC will no longer receive their 4% allocation, those block subsidies will be distributed as 1% to ZCG, 1% to ZecHub, 1% to FPF, and 1% to ZF.
+ Governance and accountability are based on existing entities and legal mechanisms, and increasingly decentralized governance is encouraged. This proposal mandates the ecosystem to design and deploy a "non-direct funding model" as generally recommended in Josh Swihart's proposal.
+ Upon creation/ activation of a "non-direct funding model" this ZIP should be reconsidered (potentially terminated) by the Zcash ecosystem, to determine if its ongoing direct block subsidies are preferred for continuation. Discussions/ solications/ sentiment gathering from the Zcash ecosystem should be initiated ~6 months in advance of the presumed activation of a "non-direct funding model", such that the Zcash ecosystem preference can be expediently realized.
+ Block subsidies will be administered through two organizations:
+
+ - Zcash Foundation (✳️ for ECC, ZCG)
+ - Financial Privacy Foundation (✳️ for Qedit, ZecHub)
+
+ ✳️ ZF and FPF adminstration of block subsidy details, costs, et al are currently under debate
+
+ Motivation 
+ As of Zcash's second halving in November 2024, by default 100% of the block subsidies will be allocated to miners, and no further funds will be automatically allocated to any other entities. Consequently, no new funding may be available to existing teams dedicated to furthering charitable, educational, or scientific purposes, such as research, development, and outreach: the Electric Coin Company (ECC), the Zcash Foundation (ZF), the ZCG, and the many entities funded by the ZF and ZCG grant programs.
+ There is a need to strike a balance between incentivizing the security of the consensus protocol (i.e., mining) versus crucial charitable, educational, and/or scientific aspects, such as research, development and outreach.
+ Furthermore, there is a need to balance the sustenance of ongoing work by the current teams dedicated to Zcash, with encouraging decentralization and growth of independent development teams.
+ For these reasons, the Zcash Community desires to allocate and contribute a portion of the block subsidies otherwise allocated to miners as a donation to support charitable, educational, and scientific activities within the meaning of Section 501(c)(3).
+ This proposal also introduces the benefit of a non-USA based entity (FPF) as the administrator for block subsidies to two organizations that are also non-USA based (Qedit and ZecHub). USA based regulatory risk continues to (negatively) impact the Zcash project, which has been predominantly based in the USA.
+
+ Requirements 
+ The Dev Fund should encourage decentralization of the work and funding, by supporting new teams dedicated to Zcash.
+ The Dev Fund should maintain the existing teams and capabilities in the Zcash ecosystem, unless and until concrete opportunities arise to create even greater value for the Zcash ecosystem.
+ There should not be any single entity which is a single point of failure, i.e., whose capture or failure will effectively prevent effective use of the funds.
+ Major funding decisions should be based, to the extent feasible, on inputs from domain experts and pertinent stakeholders.
+ The Dev Fund mechanism should not modify the monetary emission curve (and in particular, should not irrevocably burn coins).
+ In case the value of ZEC jumps, the Dev Fund recipients should not wastefully use excessive amounts of funds. Conversely, given market volatility and eventual halvings, it is desirable to create rainy-day reserves.
+ The Dev Fund mechanism should not reduce users' financial privacy or security. In particular, it should not cause them to expose their coin holdings, nor cause them to maintain access to secret keys for much longer than they would otherwise. (This rules out some forms of voting, and of disbursing coins to past/future miners.)
+ The Dev Fund system should be simple to understand and realistic to implement. In particular, it should not assume the creation of new mechanisms (e.g., election systems) or entities (for governance or development) for its execution; but it should strive to support and use these once they are built.
+ Dev Fund recipients should comply with legal, regulatory, and taxation constraints in their pertinent jurisdiction(s).
+
+ Non-requirements 
+ General on-chain governance is outside the scope of this proposal.
+ Rigorous voting mechanisms (whether coin-weighted, holding-time-weighted or one-person-one-vote) are outside the scope of this proposal, however this proposal does mandate the undertaking of the project to build a "non-direct funding model" as generally described in .
+
+ Specification 
+ Consensus changes implied by this specification are applicable to the Zcash Mainnet. Similar (but not necessarily identical) consensus changes SHOULD be applied to the Zcash Testnet for testing purposes.
+ Dev Fund allocation 
+ Starting at the second Zcash halving in 2024, until the third halving in 2028, 15% of the block subsidy of each block SHALL be allocated to a "Dev Fund" that consists of the following allocations:
+
+ - 5% for the Zcash Foundation (for internal work and grants);
+ - 4% for the Bootstrap Project (the parent of the Electric Coin Company) for the 1st year only;
+ - 4% for Zcash Community Grants for continuation of their current activities as-is;
+ - 2% for Qedit in support of their ZSA activities, and other Zcash protocol support;
+
+ Following the first year, when ECC will no longer receive their 4% allocation, those block subsidies will be distributed as 1% to ZCG, 1% to ZecHub, 1% to FPF, and 1% to ZF.
+ This proposal mandates the ecosystem to design and deploy a "non-direct funding model" as generally recommended in Josh Swihart's proposal .
+ "Dev Fund" block subsidies will be administered through two organizations:
+
+ - Zcash Foundation (✳️ for ECC, ZCG)
+ - Financial Privacy Foundation (✳️ for Qedit, ZecHub)
+
+ ✳️ ZF and FPF adminstration of block subsidy details, costs, et al are currently under debate
+ The allocations are described in more detail below. The fund flow will be implemented at the consensus-rule layer, by sending the corresponding ZEC to the designated address(es) for each block. This Dev Fund will end at the third halving (unless extended/modified by a future ZIP).
+ BP allocation (Bootstrap Project) 
+ ✳️ These funds SHALL be received and administered by ZF.
+ This allocation of the Dev Fund will flow as charitable contributions from the Zcash Community to the Bootstrap Project, the newly formed parent organization to the Electric Coin Company. The Bootstrap Project is organized for exempt educational, charitable, and scientific purposes in compliance with Section 501(c)(3), including but not limited to furthering education, information, resources, advocacy, support, community, and research relating to cryptocurrency and privacy, including Zcash. This allocation will be used at the discretion of the Bootstrap Project for any purpose within its mandate to support financial privacy and the Zcash platform as permitted under Section 501(c)(3). The BP allocation will be treated as a charitable contribution from the Community to support these educational, charitable, and scientific purposes.
+
+ ZF allocation (Zcash Foundation's general use) 
+ This allocation of the Dev Fund will flow as charitable contributions from the Zcash Community to ZF, to be used at its discretion for any purpose within its mandate to support financial privacy and the Zcash platform, including: development, education, supporting community communication online and via events, gathering community sentiment, and awarding external grants for all of the above, subject to the requirements of Section 501(c)(3). The ZF allocation will be treated as a charitable contribution from the Community to support these educational, charitable, and scientific purposes.
+
+
+ Qedit 
+ ✳️ These funds SHALL be received and administered by FPF.
+ This allocation of the Dev Fund will flow as charitable contributions from the Zcash Community to Qedit, for the purposes of supporting their ongoing activities related to Zcash Shielded Assets, and related protocol/ application/ legal/ and other efforts.
+
+ ZecHub 
+ ✳️ These funds SHALL be received and administered by FPF.
+ This allocation of the Dev Fund will flow as charitable contributions from the Zcash Community to ZecHub, for the purposes of continuing their ongoing content contributions, community organizing, et al within the Zcash ecosystem.
+
+
+ Transparency and Accountability 
+ Obligations 
+ BP, ECC, ZF, ZCG, Qedit, FPF and ZecHub are recommended to accept the obligations in this section.
+ Ongoing public reporting requirements:
+
+ - Quarterly reports, detailing future plans, execution on previous plans, and finances (balances, and spending broken down by major categories).
+ - Monthly developer calls, or a brief report, on recent and forthcoming tasks. (Developer calls may be shared.)
+ - Annual detailed review of the organization performance and future plans.
+ - Annual financial report (IRS Form 990, or substantially similar information).
+
+ These reports may be either organization-wide, or restricted to the income, expenses, and work associated with the receipt of Dev Fund. As BP is the parent organization of ECC it is expected they may publish joint reports.
+ It is expected that ECC, ZF, and ZCG will be focused primarily (in their attention and resources) on Zcash. Thus, they MUST promptly disclose:
+
+ - Any major activity they perform (even if not supported by the Dev Fund) that is not in the interest of the general Zcash ecosystem.
+ - Any conflict of interest with the general success of the Zcash ecosystem.
+
+ BP, ECC, ZF, and grant recipients MUST promptly disclose any security or privacy risks that may affect users of Zcash (by responsible disclosure under confidence to the pertinent developers, where applicable).
+ BP's reports, ECC's reports, and ZF's annual report on its non-grant operations, SHOULD be at least as detailed as grant proposals/reports submitted by other funded parties, and satisfy similar levels of public scrutiny.
+ All substantial software whose development was funded by the Dev Fund SHOULD be released under an Open Source license (as defined by the Open Source Initiative ), preferably the MIT license.
+
+ Enforcement 
+ For grant recipients, these conditions SHOULD be included in their contract with ZF, such that substantial violation, not promptly remedied, will cause forfeiture of their grant funds and their return to ZF.
+ BP, ECC, and ZF MUST contractually commit to each other to fulfill these conditions, and the prescribed use of funds, such that substantial violation, not promptly remedied, will permit the other party to issue a modified version of Zcash node software that removes the violating party's Dev Fund allocation, and use the Zcash trademark for this modified version. The allocation's funds will be reassigned to MG (whose integrity is legally protected by the Restricted Fund treatment).
+
+
+
+ ZF Board Composition 
+ Members of ZF's Board of Directors MUST NOT hold equity in ECC or have current business or employment relationships with ECC, except as provided for by the grace period described below.
+ Grace period: members of the ZF board who hold ECC equity (but do not have other current relationships to ECC) may dispose of their equity, or quit the Board, by 21 November 2024. (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 Zcash Foundation SHOULD endeavor to use the Community Advisory Panel (or successor mechanism) as advisory input for future board elections.
+
+
+ Acknowledgements 
+ This proposal is a modification of ZIP 1014 and a modification from the original "Manufacturing Consent" proposal as described in the Zcash Forum, in response to observable Zcash community sentiment.
+ The author is grateful to everyone in the Zcash ecosystem.
+
+ References 
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
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+
+
+
+
+ ZIP: Unassigned
+Title: Block Reward Allocation for Non-Direct Development Funding
+Owners: Kris Nuttycombe <kris@nutty.land>
+ Jason McGee <aquietinvestor@gmail.com>
+Original-Authors: Skylar Saveland <skylar@free2z.com>
+Credits: Daira-Emma Hopwood
+ Jack Grigg
+ @Peacemonger (Zcash Forum)
+Status: Draft
+Category: Consensus
+Created: 2024-07-03
+License: MIT
+Pull-Request: <https://github.com/zcash/zips/pull/866>
+ Terminology 
+ The key words "MUST", "REQUIRED", "MUST NOT", "SHOULD", and "MAY" in this document are to be interpreted as described in BCP 14 when, and only when, they appear in all capitals.
+
+ Abstract 
+ This ZIP proposes several options for the allocation of a percentage of the Zcash block subsidy, post-November 2024 halving, to an in-protocol "lockbox." The "lockbox" will be a separate pool of issued funds tracked by the protocol, as described in ZIP 2001: Lockbox Funding Streams . 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 , 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.
+
+ Motivation 
+ Starting at Zcash's second halving in November 2024, by default 100% of the block subsidies will be allocated to miners, and no further funds will be automatically allocated to any other entities. Consequently, unless the community takes action to approve new block-reward based funding, existing teams dedicated to development or outreach or furthering charitable, educational, or scientific purposes will likely need to seek other sources of funding; failure to obtain such funding would likely impair their ability to continue serving the Zcash ecosystem. Setting aside a portion of the block subsidy to fund development will help ensure that both existing teams and new contributors can obtain funding in the future.
+ It is important to balance the incentives for securing the consensus protocol through mining with funding crucial charitable, educational, and scientific activities like research, development, and outreach. Additionally, there is a need to continue to promote decentralization and the growth of independent development teams.
+ For these reasons, the Zcash Community wishes to establish a new Zcash Development Fund after the second halving in November 2024, with the intent to put in place a more decentralized mechanism for allocation of development funds. The alternatives presented here are intended to address the following:
+
+ - Regulatory Risks: The current model involves direct funding of US-based organizations, which can potentially attract regulatory scrutiny from entities such as the SEC, posing legal risks to the Zcash ecosystem.
+ - Funding Inefficiencies: The current model directly funds organizations rather than specific projects, leading to a potential mismatch between those organizations' development priorities and the priorities of the community. Furthermore, if organizations are guaranteed funds regardless of performance, there is little incentive to achieve key performance indicators (KPIs) or align with community sentiment. A future system that allocates resources directly to projects rather than organizations may help reduce inefficiencies and better align development efforts with community priorities.
+ - Centralization Concerns: The current model centralizes decision-making power within a few organizations, contradicting the decentralized ethos of blockchain technology. Traditional organizational structures with boards and executives introduce single points of failure and limit community involvement in funding decisions.
+ - Community Involvement: The current system provides minimal formal input from the community regarding what projects should be funded, leading to a misalignment between funded projects and community priorities.
+ - Moving Towards a Non-Direct Funding Model: There is strong community support for a non-direct Dev Fund funding model. Allocating funds to a Deferred Dev Fund Lockbox incentivizes the development of a decentralized mechanism for the disbursement of the locked funds.
+
+ By addressing these issues, this proposal aims to ensure sustainable, efficient, and decentralized funding for essential activities within the Zcash ecosystem.
+
+ Requirements 
+
+ - In-Protocol Lockbox: The alternatives presented in this ZIP depend upon the Lockbox Funding Streams proposal .
+ - Regulatory Considerations: The allocation of funds should minimize regulatory risks by avoiding direct funding of specific organizations. The design should enable and encourage compliance with applicable laws and regulations to support the long-term sustainability of the funding model.
+
+
+ Non-requirements 
+ The following considerations are explicitly deferred to future ZIPs and are not covered by this proposal:
+
+ - Disbursement Mechanism: The exact method for disbursing the accumulated funds from the lockbox is not defined in this ZIP. The design, implementation, and governance of the disbursement mechanism will be addressed in a future ZIP. This includes specifics on how funds will be allocated, the voting or decision-making process, and the structure of the decentralized mechanism (such as a DAO).
+ - Regulatory Compliance Details: The proposal outlines the potential to reduce regulatory risks by avoiding direct funding of US-based organizations, but it does not detail specific regulatory compliance strategies. Future ZIPs will need to address how the disbursement mechanism complies with applicable laws and regulations.
+ - Impact Assessment: The long-term impact of reallocating a portion of the block subsidy to the lockbox on the Zcash ecosystem, including its effect on miners, developers, and the broader community, is not analyzed in this ZIP. Subsequent proposals will need to evaluate the outcomes and make necessary adjustments based on real-world feedback and data.
+
+
+ Specification 
+ The following alternatives all depend upon the Lockbox Funding Streams proposal for storage of funds into a deferred value pool.
+ Some of the alternatives described below do not specify a termination height for the funding streams they propose. In these cases, the termination height is set to u32::MAX_VALUE. A future network upgrade that alters the maximum possible block height MUST also alter these termination heights.
+
+ Alternatives 
+ Alternative 1: Lockbox For Decentralized Grants Allocation (perpetual 50% option) 
+ Proposed by Skylar Saveland
+
+ - 50% of the block subsidy is to be distributed to the lockbox.
+
+ As of block height 2726400, and continuing until modified by a future ZIP, the complete set of funding streams will be:
+
+
+
+ | Stream |
+ Numerator |
+ Denominator |
+ Start height |
+ End height |
+
+
+
+
+ FS_DEFERRED |
+ 50 |
+ 100 |
+ 2726400 |
+ u32::MAX |
+
+
+
+ Motivations for Alternative 1 
+ This alternative proposes allocating a significantly larger portion of the block subsidy to development funding than is currently allocated, aiming to establish a long-term source of funding for protocol improvements. The disbursement of these funds will be governed by a mechanism to be determined by the community in the future, ensuring that the funds are released under agreed-upon constraints to maintain availability for years to come.
+ The proposed lockbox funding model for Zcash's post-NU6 halving period allocates 50% of the block reward to a deferred reserve, or "lockbox," designated for future decentralized grants funding. This approach is designed to address several critical motivations:
+
+
+ - Regulatory Compliance:
+
+ - Reduction of Regulatory Risks: Direct funding to legal entities poses significant regulatory risks. Allocating funds to a decentralized lockbox mitigates these risks by avoiding direct funding of any specific organizations. This alternative represents the strongest regulatory posture, as it reduces the likelihood of legal challenges associated with funding centralized entities directly.
+ - Potential Minimization of KYC Requirements: The current funding mechanism involves 100% KYC for recipients, which can be detrimental to security, privacy, resilience, and participation. A sufficiently decentralized disbursement mechanism could reduce the need for recipients to undergo KYC with a controlling entity. This would preserve privacy and encourage broader participation from developers and contributors who value anonymity and privacy. By shifting from direct funding of specific legal entities to a decentralized funding model, we create a more secure, private, and resilient ecosystem. This potential future difference enhances the robustness of the Zcash network by fostering a diverse and engaged community without the constraints of centralized direct funding.
+
+
+ - Ensuring Sustainable Development Funding:
+
+ - Need for Continuous Funding: Zcash has numerous ongoing and future projects essential for its ecosystem's growth and security. Without a change, the expiration of the devfund will result in 100% of the block reward going to miners, jeopardizing funding for development. The proposed 50% lockbox allocation ensures that funds are directed towards sustaining and improving the Zcash ecosystem through a wide array of initiatives. These include protocol development, new features, security audits, legal support, marketing, ZSAs (Zcash Shielded Assets), stablecoins, programmability, transitioning to a modern Rust codebase, wallets, integrations with third-party services, improved node software, block explorers, supporting ambassadors, and educational initiatives like ZecHub.
+ - Balanced Incentives for Network and Protocol Security: While miners have been essential in providing network security through hashpower, allocating 100% of the block reward to mining alone overlooks the crucial need for development, innovation, and protocol security. By investing in these priorities, we enhance the long-term health and value of the protocol, which ultimately benefits miners. A well-maintained and innovative protocol increases the overall value of the network, making miners' rewards more valuable. This balanced approach aligns the interests of miners with the broader community, ensuring sustainable growth and security for Zcash.
+
+
+ - Efficiency, Accountability, and Decentralization:
+
+ - Reduction of Inefficiencies: Traditional funding models often involve significant corporate overhead and centralized decision-making, leading to inefficiencies. The prior model provided two 501(c)(3) organizations with constant funding for four years, which reduced accountability and allowed for potential misalignment with the community's evolving priorities. By funding projects directly rather than organizations, we can allocate resources more efficiently, ensuring that funds are used for tangible development rather than administrative costs. This approach minimizes the influence of corporate executives, whose decisions have sometimes failed to address critical issues promptly.
+ - Increased Accountability: A presumed grants-only mechanism, to be defined in a future ZIP, would necessitate continuous accountability and progress for continuous funding. Unlike the prior model, where organizations received guaranteed funding regardless of performance, a grants-based approach would require projects to demonstrate ongoing success and alignment with community goals to secure funding. This continuous evaluation fosters a more responsive and responsible allocation of resources, ensuring that funds are directed towards initiatives that provide the most value to the Zcash ecosystem. By increasing accountability, this model promotes a culture of excellence and innovation, driving sustained improvements and advancements in the protocol.
+ - Promotion of Decentralization: The proposed non-direct funding model stores deferred funds for future use, with the specifics of the disbursement mechanism to be determined by a future ZIP. This could allow the community to have a greater influence over funding decisions, aligning more closely with the ethos of the Zcash project. By decentralizing the allocation process, this approach has the potential to foster innovation and community involvement, ensuring that development priorities are more reflective of the community's needs and desires, promoting a more open, transparent, and resilient ecosystem.
+
+
+ - Incentives for Development and Collaboration:
+
+ - Creating a Strong Incentive to Implement the Disbursement Mechanism: Allocating 50% of the block reward to the lockbox indefinitely creates a powerful incentive for the community to work together to implement the disbursement mechanism without delay. Knowing that there is a substantial amount of funds available, stakeholders will be motivated to develop and agree on an effective, decentralized method for distributing these funds.
+ - Incentivizing Continuous Improvements: The accumulation of a large stored fortune within the lockbox incentivizes continuous improvements to the Zcash protocol and ecosystem. Developers, contributors, and community members will be driven to propose and execute projects that enhance the network, knowing that successful initiatives have the potential to receive funding. This model fosters a culture of ongoing innovation and development, ensuring that Zcash remains at the forefront of blockchain technology.
+ - Aligning Long-Term Interests: By tying a significant portion of the block reward to future decentralized grants funding, the model aligns the long-term interests of all stakeholders. Miners, developers, and community members alike have a vested interest in maintaining and improving the Zcash network, as the value and success of their efforts are directly linked to the availability and effective use of the lockbox funds. This alignment of incentives ensures that the collective efforts of the community are focused on the sustainable growth and advancement of the Zcash ecosystem.
+
+
+
+
+ Guidance on Future Requirements for Alternative 1 
+ To support the motivations outlined, the following guidance is proposed for Alternative 1. Future ZIP(s) will define the disbursement mechanism. These are suggestions to achieve the outlined motivations and should be considered in those future ZIP(s). It is important to note that these are ideas and guidance, not hard, enforceable requirements:
+
+ - Cap on Grants: Grants should be capped to promote more granular accountability and incremental goal-setting. This approach ensures that projects are required to define their work, goals, milestones, KPIs, and achievements in smaller, more manageable increments. Even if a single project is utilizing significant funds quickly, the cap ensures that progress is continuously evaluated and approved based on tangible results and alignment with community priorities.
+ - Decentralized Disbursement Mechanism: The disbursement mechanism should be sufficiently decentralized to ensure the regulatory motivations are fulfilled. A decentralized mechanism could reduce the need for recipients to undergo KYC with a controlling party, preserving privacy and aligning with the ethos of the Zcash project.
+ - Governance and Accountability: The governance structure for the disbursement mechanism should be open and accountable, with decisions made through community consensus or decentralized voting processes to maintain trust and accountability. This approach will help ensure that the allocation of funds is fair and aligned with the community's evolving priorities.
+ - Periodic Review and Adjustment: There should be provisions for periodic review and adjustment of the funding mechanism to address any emerging issues or inefficiencies and to adapt to the evolving needs of the Zcash ecosystem. This could include the ability to add or remove participants as necessary. Regular assessments will help keep the funding model responsive and effective, ensuring it continues to meet the community's goals.
+
+ By addressing these motivations and providing this guidance, Alternative 1 aims to provide a robust, sustainable, and decentralized funding model that aligns with the principles and long-term goals of the Zcash community.
+
+
+ Alternative 2: Hybrid Deferred Dev Fund: Transitioning to a Non-Direct Funding Model 
+ Proposed by Jason McGee, Peacemonger, GGuy
+
+ - 12% of the block subsidy is to be distributed to the lockbox.
+ - 8% of the block subsidy is to be distributed to the Financial Privacy Foundation (FPF), for the express use of the Zcash Community Grants Committee (ZCG) to fund independent teams in the Zcash ecosystem.
+
+ As of block height 2726400, and continuing for one year, the complete set of funding streams will be:
+
+
+
+ | Stream |
+ Numerator |
+ Denominator |
+ Start height |
+ End height |
+
+
+
+
+ FS_DEFERRED |
+ 12 |
+ 100 |
+ 2726400 |
+ 3146400 |
+
+
+ FS_FPF_ZCG |
+ 8 |
+ 100 |
+ 2726400 |
+ 3146400 |
+
+
+
+ Motivations for Alternative 2 
+
+ - Limited Runway: ZCG does not have the financial runway that ECC/BP and ZF have. As such, allocating ongoing funding to ZCG will help ensure the Zcash ecosystem has an active grants program.
+ - Promoting Decentralization: Allocating a portion of the Dev Fund to Zcash Community Grants ensures small teams continue to receive funding to contribute to Zcash. Allowing the Dev Fund to expire, or putting 100% into a lockbox, would disproportionally impact grant recipients. This hybrid approach promotes decentralization and the growth of independent development teams.
+ - Mitigating Regulatory Risks: The Financial Privacy Foundation (FPF) is a non-profit organization incorporated and based in the Cayman Islands. By minimizing direct funding of US-based organizations, this proposal helps to reduce potential regulatory scrutiny and legal risks.
+
+
+
+ Alternative 3: Lockbox For Decentralized Grants Allocation (20% option) 
+ Proposed by Kris Nuttycombe
+
+ - 20% of the block subsidy is to be distributed to the lockbox.
+
+ As of block height 2726400, and continuing for two years, the complete set of funding streams will be:
+
+
+
+ | Stream |
+ Numerator |
+ Denominator |
+ Start height |
+ End height |
+
+
+
+
+ FS_DEFERRED |
+ 20 |
+ 100 |
+ 2726400 |
+ 3566400 |
+
+
+
+ Motivations for Alternative 3 
+ This alternative is presented as the simplest allocation of block rewards to a lockbox for future disbursement that is consistent with results of community polling.
+
+
+ Alternative 4: Masters Of The Universe? 
+ Proposed by NoamChom (Zcash forum)
+
+ - 17% of the block subsidy is to be distributed to the lockbox.
+ - 8% of the block subsidy is to be distributed to the Financial Privacy Foundation (FPF), for the express use of the Zcash Community Grants Committee (ZCG) to fund independent teams in the Zcash ecosystem.
+
+ As of block height 2726400, and continuing for four years, the complete set of funding streams will be:
+
+
+
+ | Stream |
+ Numerator |
+ Denominator |
+ Start height |
+ End height |
+
+
+
+
+ FS_DEFERRED |
+ 17 |
+ 100 |
+ 2726400 |
+ 4406400 |
+
+
+ FS_FPF_ZCG |
+ 8 |
+ 100 |
+ 2726400 |
+ 4406400 |
+
+
+
+ Motivations for Alternative 4 
+ This alternative proposes a slightly larger slice of the block subsidy than is currently allocated for development funding, in order to better provide for the needs of the Zcash community.
+
+ Revisitation Requirement for Alternative 4 
+ The terms for this Alternative should be revisited by the Zcash ecosystem upon creation/ activation of a "non-direct funding model" (NDFM). At that completion of an NDFM which accessess the lockbox funds, this ZIP should be reconsidered (potentially terminated) by the Zcash ecosystem, to determine if its ongoing direct block subsidies are preferred for continuation. Discussions / solications / sentiment gathering from the Zcash ecosystem should be initiated ~6 months in advance of the presumed activation of a "non-direct funding model", such that the Zcash ecosystem preference can be expediently realized.
+
+
+
+ Requirements related to direct streams for the Financial Privacy Foundation 
+ The following requirements apply to Alternative 2 and Alternative 4:
+ The stream allocated to Zcash Community Grants (ZCG) is intended to fund independent teams entering the Zcash ecosystem, to perform major ongoing development (or other work) for the public good of the Zcash ecosystem, to the extent that such teams are available and effective. The ZCG Committee is given the discretion to allocate funds not only to major grants, but also to a diverse range of projects that advance the usability, security, privacy, and adoption of Zcash, including community programs, dedicated resources, and other projects of varying sizes.
+ The funds SHALL be received and administered by the Financial Privacy Foundation (FPF). FPF MUST disburse them for grants and expenses reasonably related to the administration of the ZCG program, but subject to the following additional constraints:
+
+ - These funds MUST only be used to issue grants to external parties that are independent of FPF, and to pay for expenses reasonably related to the administration of the ZCG program. They MUST NOT be used by FPF for its internal operations and direct expenses not related to the administration of grants or the grants program.
+ - ZCG SHOULD support well-specified work proposed by the grantee, at reasonable market-rate costs. They can be of any duration or ongoing without a duration limit. Grants of indefinite duration SHOULD have semiannual review points for continuation of funding.
+ - Priority SHOULD be given to major grants that bolster teams with substantial (current or prospective) continual existence, and set them up for long-term success, subject to the usual grant award considerations (impact, ability, risks, team, cost-effectiveness, etc.). Priority SHOULD be given to major grants that support ecosystem growth, for example through mentorship, coaching, technical resources, creating entrepreneurial opportunities, etc. If one proposal substantially duplicates another’s plans, priority SHOULD be given to the originator of the plans.
+ - The ZCG committee SHOULD be restricted to funding projects that further the Zcash cryptocurrency and its ecosystem (which is more specific than furthering financial privacy in general) as permitted by FPF and any relevant jurisdictional requirements.
+ - ZCG awards are subject to approval by a five-seat ZCG Committee. The ZCG Committee SHALL be selected by the ZF’s Community Advisory Panel or a successor process (e.g. as established by FPF). Elections SHALL be staggered to ensure continuity within the Committee.
+ - The ZCG Committee’s funding decisions will be final, requiring no approval from the FPF Board, but are subject to veto if the FPF judges them to violate any relevant laws or other (current or future) obligations.
+ - ZCG Committee members SHALL have a one-year term and MAY sit for reelection. The ZCG Committee is subject to the same conflict of interest policy that governs the FPF Board of Directors (i.e. they MUST recuse themselves when voting on proposals where they have a financial interest). At most one person with association with the BP/ECC, at most one person with association with the ZF, and at most one person with association with FPF are allowed to sit on the ZCG Committee. “Association” here means: having a financial interest, full-time employment, being an officer, being a director, or having an immediate family relationship with any of the above. The ZF SHALL continue to operate the Community Advisory Panel and SHOULD work toward making it more representative and independent (more on that below). Similarly, FPF should also endeavor to establish its own means of collecting community sentiment for the purpose of administering ZCG elections.
+ - A portion of the ZCG Slice shall be allocated to a Discretionary Budget, which may be disbursed for expenses reasonably related to the administration of the ZCG program. The amount of funds allocated to the Discretionary Budget SHALL be decided by the ZF’s Community Advisory Panel or successor process. Any disbursement of funds from the Discretionary Budget MUST be approved by the ZCG Committee. Expenses related to the administration of the ZCG program include, without limitation the following:
+
+ - Paying third party vendors for services related to domain name registration, or the design, website hosting and administration of websites for the ZCG Committee.
+ - Paying independent consultants to develop requests for proposals that align with the ZCG program.
+ - Paying independent consultants for expert review of grant applications.
+ - Paying for sales and marketing services to promote the ZCG program.
+ - Paying third party consultants to undertake activities that support the purpose of the ZCG program.
+ - Reimbursement to members of the ZCG Committee for reasonable travel expenses, including transportation, hotel and meals allowance.
+
+
+ - A portion of the Discretionary Budget MAY be allocated to provide reasonable compensation to members of the ZCG Committee. Committee member compensation SHALL be limited to the hours needed to successfully perform their positions and MUST align with the scope and responsibilities of their roles. The allocation and distribution of compensation to committee members SHALL be administered by the FPF. The compensation rate and hours for committee members SHALL be determined by the ZF’s Community Advisory Panel or successor process.
+ - The ZCG Committee’s decisions relating to the allocation and disbursement of funds from the Discretionary Budget will be final, requiring no approval from the FPF Board, but are subject to veto if the FPF judges them to violate laws or FPF reporting requirements and other (current or future) obligations.
+
+ FPF SHALL recognize the ZCG slice of the Dev Fund as a Restricted Fund donation under the above constraints (suitably formalized), and keep separate accounting of its balance and usage under its Transparency and Accountability obligations defined below.
+ FPF SHALL strive to define target metrics and key performance indicators, and the ZCG Committee SHOULD utilize these in its funding decisions.
+ Furthering Decentralization 
+ FPF SHALL conduct periodic reviews of the organizational structure, performance, and effectiveness of the ZCG program and committee, taking into consideration the input and recommendations of the ZCG Committee. As part of these periodic reviews, FPF MUST commit to exploring the possibility of transitioning ZCG into an independent organization if it is economically viable and it aligns with the interests of the Zcash ecosystem and prevailing community sentiment.
+ In any transition toward independence, priority SHALL be given to maintaining or enhancing the decentralization of the Zcash ecosystem. The newly formed independent organization MUST ensure that decision-making processes remain community-driven, transparent, and responsive to the evolving needs of the Zcash community and ecosystem. In order to promote geographic decentralization, the new organization SHOULD establish its domicile outside of the United States.
+
+ Transparency and Accountability 
+ FPF MUST accept the following obligations in this section on behalf of ZCG:
+
+ - Publication of the ZCG Dashboard, providing a snapshot of ZCG’s current financials and any disbursements made to grantees.
+ - Bi-weekly meeting minutes documenting the decisions made by the ZCG committee on grants.
+ - Quarterly reports, detailing future plans, execution on previous plans, and finances (balances, and spending broken down by major categories).
+ - Annual detailed review of the organization performance and future plans.
+ - Annual financial report (IRS Form 990, or substantially similar information).
+
+ BP, ECC, ZF, FPF, ZCG and grant recipients MUST promptly disclose any security or privacy risks that may affect users of Zcash (by responsible disclosure under confidence to the pertinent developers, where applicable).
+ All substantial software whose development was funded by the Dev Fund SHOULD be released under an Open Source license (as defined by the Open Source Initiative ), preferably the MIT license.
+
+ Enforcement 
+ FPF MUST contractually commit to fulfill these obligations on behalf of ZCG, and the prescribed use of funds, such that substantial violation, not promptly remedied, will result in a modified version of Zcash node software that removes ZCG’s Dev Fund slice and allocates it to the Deferred Dev Fund lockbox.
+
+
+ References 
+
+
+
+
+
+
+
+
\ No newline at end of file
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index 000000000..17c801d92
--- /dev/null
+++ b/rendered/draft-nuttycom-lockbox-streams.html
@@ -0,0 +1,10 @@
+
+
+
+
+ ZIP: Unassigned
+Title: Establishing a Hybrid Dev Fund for ZF, ZCG and a Dev Fund Reserve
+Owners: Jack Gavigan <jack@zfnd.org>
+Credits: The ZIP 1014 Authors
+Status: Draft
+Category: Consensus Process
+Created: 2024-07-01
+License: MIT
+Discussions-To:
+Pull-Request:
+ Terminology 
+ The key words "MUST", "MUST NOT", "SHALL", "SHALL NOT", "SHOULD", and "MAY" in this document are to be interpreted as described in BCP 14 when, and only when, they appear in all capitals.
+ The term "network upgrade" in this document is to be interpreted as described in ZIP 200 and the Zcash Trademark Donation and License Agreement ( or successor agreement).
+ The terms "block subsidy" and "halving" in this document are to be interpreted as described in sections 3.10 and 7.8 of the Zcash Protocol Specification.
+ "Electric Coin Company", also called "ECC", refers to the US-incorporated Zerocoin Electric Coin Company, LLC.
+ "Bootstrap Project", also called "BP", refers to the US-incorporated 501(c)(3) nonprofit corporation of that name.
+ "Zcash Foundation", also called "ZF", refers to the US-incorporated 501(c)(3) nonprofit corporation of that name.
+ "Financial Privacy Foundation", also called "FPF", refers to the Cayman Islands-incorporated non-profit foundation company limited by guarantee of that name.
+ "Autonomous Entities" refers to committees, DAOs, teams or other groups to which FPF provides operations, administrative, and financial management support.
+ "Section 501(c)(3)" refers to that section of the U.S. Internal Revenue Code (Title 26 of the U.S. Code).
+ "Zcash Community Advisory Panel", also called "ZCAP", refers to the panel of community members assembled by the Zcash Foundation and described at .
+ The terms "Testnet" and "Mainnet" are to be interpreted as described in section 3.12 of the Zcash Protocol Specification .
+ “Lockbox” refers to a deferred funding pool of issued Zcash value as described in ZIP 2001 .
+ “Dev Fund Reserve”, also called “DFR”, refers to the funds that are to be stored in the Lockbox as a result of the changes described in this ZIP.
+
+ Abstract 
+ This proposal describes a structure for a new Zcash Development Fund (“Dev Fund”), to be enacted in Network Upgrade 6 and last for 2 years. This Dev Fund shall consist of 20% of the block subsidies.
+ The Dev Fund shall be split into 3 slices:
+
+ - 32% for Zcash Foundation;
+ - 40% for "Zcash Community Grants", intended to fund large-scale long-term Projects (administered by the Financial Privacy Foundation, with extra community input and scrutiny).
+ - 28% for a Dev Fund Reserve, to be stored in a Lockbox.
+
+ The Lockbox will securely store funds until a disbursement mechanism is established in a future ZIP.
+ Governance and accountability are based on existing entities and legal mechanisms, and increasingly decentralized governance is encouraged.
+
+ Motivation 
+ Starting at Zcash's second halving in November 2024, the first Dev Fund will expire, meaning that by default 100% of the block subsidies will be allocated to miners, and no further funds will be automatically allocated to any other entities. Consequently, no substantial new funding may be available to existing teams dedicated to furthering charitable, educational, or scientific purposes, such as research, development, and outreach: the Electric Coin Company (ECC), the Zcash Foundation (ZF), and the many entities funded by the ZF grants and Zcash Community Grants programs.
+ There is a need to continue to strike a balance between incentivizing the security of the consensus protocol (i.e., mining) versus crucial charitable, educational, and/or scientific aspects, such as research, development and outreach.
+ Furthermore, there is a need to balance the sustenance of ongoing work by the current teams dedicated to Zcash, with encouraging decentralization and growth of independent development teams.
+ For these reasons, the Zcash Community desires to allocate and contribute a slice of the block subsidies otherwise allocated to miners as a donation to support charitable, educational, and scientific activities within the meaning of Section 501(c)(3) of Title 26 of the United States Code, and the Cayman Islands’ Foundation Companies Law, 2017.
+ The Zcash Community also supports the concept of a non-direct funding model, and desires to allocate a slice of the block subsidies otherwise allocated to miners to a Lockbox, with the expectation that those funds will be distributed under a non-direct funding model, which may be implemented in a future network upgrade.
+ For these reasons, the Zcash Community wishes to establish a Hybrid Development Fund after the second halving in November 2024, and apportion it among ZF, ZCG, and a Dev Fund Reserve to be held in a Lockbox.
+
+ Requirements 
+ The Dev Fund should encourage decentralization of the Zcash ecosystem, by supporting new teams dedicated to Zcash.
+ The Dev Fund should maintain the existing teams and capabilities in the Zcash ecosystem, unless and until concrete opportunities arise to create even greater value for the Zcash ecosystem.
+ There should not be any single entity which is a single point of failure, i.e., whose capture or failure will effectively prevent effective use of the funds.
+ Major funding decisions should be based, to the extent feasible, on inputs from domain experts and pertinent stakeholders.
+ The Dev Fund mechanism itself should not modify the monetary emission curve (and in particular, should not irrevocably burn coins).
+ In case the value of ZEC jumps, the Dev Fund recipients should not wastefully use excessive amounts of funds. Conversely, given market volatility and eventual halvings, it is desirable to create rainy-day reserves.
+ The Dev Fund mechanism should not reduce users' financial privacy or security. In particular, it should not cause them to expose their coin holdings, nor cause them to maintain access to secret keys for much longer than they would otherwise. (This rules out some forms of voting, and of disbursing coins to past/future miners.)
+ The new Dev Fund system should be simple to understand and realistic to implement. In particular, it should not assume the creation of new mechanisms (e.g., election systems) or entities (for governance or development) for its execution; but it should strive to support and use these once they are built.
+ The Dev Fund should comply with legal, regulatory, and taxation constraints in pertinent jurisdictions.
+ The Lockbox must be prepared to allocate resources efficiently once the disbursement mechanism is defined. This includes ensuring that funds are readily available for future projects and not tied up in organizational overhead.
+ The Lockbox must implement robust security measures to protect against unauthorized access or misuse of funds. It must not be possible to disburse funds from the Lockbox until the Zcash Community reaches consensus on the design of a disbursement mechanism that is defined in a ZIP and implemented as part of a future Network Upgrade.
+
+ Non-requirements 
+ General on-chain governance is outside the scope of this proposal.
+ Rigorous voting mechanisms (whether coin-weighted, holding-time-weighted or one-person-one-vote) are outside the scope of this proposal, though there is prescribed room for integrating them once available.
+ The mechanism by which funds held in the Dev Fund Reserve Lockbox are to be distributed is outside the scope of this proposal.
+
+ Specification 
+ Consensus changes implied by this specification are applicable to the Zcash Mainnet. Similar (but not necessarily identical) consensus changes SHOULD be applied to the Zcash Testnet for testing purposes.
+ Dev Fund allocation 
+ Starting at the second Zcash halving in 2024, until block height 3566400 (which is expected to occur approximately two years after the second Zcash halving), 20% of the block subsidy of each block SHALL be allocated to a Dev Fund that consists of the following three slices:
+
+ - 32% for the Zcash Foundation (denoted ZF slice);
+ - 40% for the Financial Privacy Foundation, for "Zcash Community Grants" for large-scale long-term projects (denoted ZCG slice);
+ - 28% for the Dev Fund Reserve (denoted DFR slice).
+
+ The slices are described in more detail below. The fund flow will be implemented at the consensus-rule layer, by sending the corresponding ZEC to the designated address(es) for each block. This Dev Fund will end at block height 3566400 (unless extended/modified by a future ZIP).
+ ZF slice (Zcash Foundation) 
+ This slice of the Dev Fund will flow as charitable contributions from the Zcash Community to ZF, to be used at its discretion for any purpose within its mandate to support financial privacy and the Zcash platform, including: development, education, supporting community communication online and via events, gathering community sentiment, and awarding external grants for all of the above, subject to the requirements of Section 501(c)(3). The ZF slice will be treated as a charitable contribution from the Community to support these educational, charitable, and scientific purposes.
+
+
+ DFR slice (Dev Fund Reserve) 
+ This slice of the Dev Fund is to be stored in a Lockbox until such time as the Zcash Community reaches consensus on the design of a disbursement mechanism that is defined in a ZIP and implemented as part of a future Network Upgrade.
+
+
+ Transparency and Accountability 
+ Obligations 
+ ZF, FPF and Zcash Community Grant recipients (during and leading to their award period) SHALL all accept the obligations in this section.
+ Ongoing public reporting requirements:
+
+ - Quarterly reports, detailing future plans, execution on previous plans, and finances (balances, and spending broken down by major categories).
+ - Monthly developer calls, or a brief report, on recent and forthcoming tasks. (Developer calls may be shared.)
+ - Annual detailed review of the organization performance and future plans.
+ - Annual financial report (IRS Form 990, or substantially similar information).
+
+ These reports may be either organization-wide, or restricted to the income, expenses, and work associated with the receipt of Dev Fund.
+ It is expected that ZF, FPF and Zcash Community Grant recipients will be focused primarily (in their attention and resources) on Zcash. Thus, they MUST promptly disclose:
+
+ - Any major activity they perform (even if not supported by the Dev Fund) that is not in the interest of the general Zcash ecosystem.
+ - Any conflict of interest with the general success of the Zcash ecosystem.
+
+ BP, ECC, ZF, FPF and grant recipients MUST promptly disclose any security or privacy risks that may affect users of Zcash (by responsible disclosure under confidence to the pertinent developers, where applicable).
+ ZF's and FPF's annual reports on its non-grant operations, SHOULD be at least as detailed as grant proposals/reports submitted by other funded parties, and satisfy similar levels of public scrutiny.
+ All substantial software whose development was funded by the Dev Fund SHOULD be released under an Open Source license (as defined by the Open Source Initiative ), preferably the MIT license.
+ The ZF SHALL continue to operate the Zcash Community Advisory Panel and SHOULD work toward making it more representative and independent (more on that below).
+
+ Enforcement 
+ For grant recipients, these conditions SHOULD be included in their contract with FPF, such that substantial violation, not promptly remedied, will cause forfeiture of their grant funds and their return to FPF.
+ ZF and FPF MUST contractually commit to each other to fulfill these conditions, and the prescribed use of funds, such that substantial violation, not promptly remedied, will permit the other parties to issue a modified version of Zcash node software that removes the violating party's Dev Fund slice, and use the Zcash trademark for this modified version. The slice's funds will be reassigned to ZCG (whose integrity is legally protected by the Restricted Fund treatment).
+
+
+ Amendments and Replacement of the Dev Fund 
+ Nothing in this ZIP is intended to preclude any amendments to the Dev Fund (including but not limited to, changes to the Dev Fund allocation and/or the addition of new Dev Fund recipients), if such amendments enjoy the consensus support of the Zcash community.
+ Nothing in this ZIP is intended to preclude replacement of the Dev Fund with a different mechanism for ecosystem development funding.
+ ZF and FPF SHOULD facilitate the amendment or replacement of the Dev Fund if there is sufficient community support for doing so.
+ This ZIP recognizes there is strong community support for a non-direct funding model. As such, ZF MUST collaborate with the Zcash community to research and explore the establishment of a non-direct funding model. The research should consider potential designs as well as possible legal and regulatory risks.
+
+
+ ZF Board Composition 
+ Members of ZF's Board of Directors MUST NOT hold equity in ECC or have current business or employment relationships with ECC or BP.
+ The Zcash Foundation SHOULD endeavor to use the Zcash Community Advisory Panel (or successor mechanism) as advisory input for future board elections.
+
+ FPF Board Composition 
+ Members of FPF's Board of Directors MUST NOT hold equity in ECC or have current business or employment relationships with ECC or BP.
+
+
+ Acknowledgements 
+ This proposal is a modification of ZIP 1014 by the Zcash Foundation based on feedback and suggestions from the community, and incorporating elements of draft ZIPs by community members Jason McGee and Skylar.
+ ZIP 1014 is a limited modification of Eran Tromer's ZIP 1012 by the Zcash Foundation and ECC, further modified by feedback from the community.
+ Eran's proposal is most closely based on the Matt Luongo 'Decentralize the Dev Fee' proposal (ZIP 1011) . Relative to ZIP 1011 there are substantial changes and mixing in of elements from @aristarchus's '20% Split Evenly Between the ECC and the Zcash Foundation' (ZIP 1003) , Josh Cincinnati's 'Compromise Dev Fund Proposal With Diverse Funding Streams' (ZIP 1010) , and extensive discussions in the Zcash Community Forum, including valuable comments from forum users @aristarchus and @dontbeevil.
+
+ References 
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
\ No newline at end of file
diff --git a/rendered/index.html b/rendered/index.html
new file mode 100644
index 000000000..8ee5e0a9c
--- /dev/null
+++ b/rendered/index.html
@@ -0,0 +1,257 @@
+
+
+
+
ZIP: 0
Title: ZIP Process
-Owners: Daira Emma Hopwood <daira@electriccoin.co>
- teor <teor@zfnd.org>
- Jack Grigg <str4d@electriccoin.co>
- Conrado Gouvea <conrado@zfnd.org>
- Aditya Bharadwaj <nighthawk24@gmail.com>
+Owners: Jack Grigg <str4d@electriccoin.co>
+ Conrado Gouvêa <conrado@zfnd.org>
Arya <arya@zfnd.org>
-Original-Authors: Daira Emma Hopwood
+Original-Authors: Daira-Emma Hopwood
Josh Cincinnati
George Tankersley
Deirdre Connolly
+ teor
+ Aditya Bharadwaj
Credits: Luke Dashjr
Status: Active
Category: Process
@@ -61,13 +60,12 @@
ZIP Editors 
The current ZIP Editors are:
- - Daira Emma Hopwood and Jack Grigg, associated with the Electric Coin Company;
- - teor, Conrado Gouvea, and Arya, associated with the Zcash Foundation.
- - Aditya Bharadwaj, associated with Nighthawk Apps.
+ - Jack Grigg, associated with the Electric Coin Company;
+ - Conrado Gouvêa and Arya, associated with the Zcash Foundation.
All can be reached at zips@z.cash. The current design of the ZIP Process dictates that there are always at least two ZIP Editors: at least one from the Electric Coin Company and at least one from the Zcash Foundation.
ZIP Editors MUST declare any potential or perceived conflict of interest they have relating to their responsibilities as ZIP Editors.
- ZIP Editors MUST be publicly transparent about any external influence or constraints that have been placed or attempted to be placed on their actions as ZIP Editors (including from the Electric Coin Company, Zcash Foundation, or Nighthawk Apps), whether or not it affects those actions. This should not be interpreted as requiring ZIP Editors to reveal knowledge of undisclosed security vulnerabilities or mitigations.
+ ZIP Editors MUST be publicly transparent about any external influence or constraints that have been placed or attempted to be placed on their actions as ZIP Editors (including from the Electric Coin Company, Zcash Foundation, or other organizations with which the Editors are associated), whether or not it affects those actions. This should not be interpreted as requiring ZIP Editors to reveal knowledge of undisclosed security vulnerabilities or mitigations.
Additional Editors may be selected, with their consent, by consensus among the current Editors.
An Editor may be removed or replaced by consensus among the current Editors. However, if the other ZIP Editors have consensus, an Editor can not prevent their own removal.
Any Editor can resign by informing the other Editors in writing.
@@ -358,6 +356,9 @@
Zcash Network Upgrade Pipeline
+ Acknowledgements 
+ We thank George Tankersley, Deirdre Connolly, Daira-Emma Hopwood, teor, and Aditya Bharadwaj for their past contributions as ZIP Editors.
+