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Altcoin News, Cryptocurrency News

First Zcash halving leads to discussion of Founders Rewards Fund

Privacy coin Zcash (ZEC) will have it’s first halving next year in October. Although this is still a while away, the Zcash community have started preparations for the inagraul event. One of the major issues to be decided is the futre of the Zcash Founders Reward. The fund was set up by the early investors of ZEC. A total of $3m was invested to help fund the asset’s initial creation. In return, they were rewarded with a portion of equity in founder company ECC (Electric Coin Company). This was in addition to some of the Founder’s Rewards coins.

The fund, however, is due to expire with the Octiver 2020 halving, and so discussions have begun to determine the future of the fund. Zcash founder Zooko Wilcox wrote to the community in a Medium post that he wished the fund to continue after the halving, to help aid with:

“functions such as software development, user support, business development, regulatory and government outreach, security auditing and monitoring, educational and marketing initiatives, new protocol development, and so forth.”

Wilcox later adds that the existence of the fund, was a key factor in the entire project surviving the 2018 bear market. While various other projects had cutbacks and major delays in their roadmaps, ZEC managed to survive partly due to the existence of the Founders Reward fund. Wilcox hopes that these factos will be taken into consideration going forward.

Image licensed via Shutterstock

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