Zcash co-founder proposes ending grants funding, citing $125 million treasury

The committee’s dashboard showed about 91,453 ZEC and $8.8 million, with $2.4 million committed to grantees. Bowe values the remaining balance at $125.3 million using a ZEC price of $1,300.

The automatic allocation continues regardless of how much the committee already holds. At the network’s target pace, it receives about 144 ZEC a day, worth about $68 million a year.

For comparison, the Financial Privacy Foundation, which administers ZCG’s funds, reported just over $1.5 million in program expenses for the first quarter. Annualized, that’s about $6 million, less than a tenth of the yearly inflow.

The dollar figures move with ZEC. Even at $500 per coin, Bowe estimates the existing treasury would cover about five years of spending at an assumed $10 million a year.

Outreach spending draws scrutiny

The proposal arrived amid criticism of a ZCG-funded outreach program that demonstrated private payments at an adult-industry convention over the weekend.

ZECsy, the team behind the program, requested $550,000 for work spanning adult-industry events, crypto conferences and workshops. The pitch included helping workers facing banking restrictions accept payments without exposing personal financial information.

The committee approved startup funding and the first nine milestones, totaling about $461,500. Photos from its Exxxotica booth in Edison, New Jersey, circulated on X on Sunday.