Proposal to Convert ~98,000 ZEC into Miner Rewards Withdrawn, Zcash Community Grants Committee Says Next Steps Should Be Decided Through Governance

Odaily Report: The Zcash Community Grants (ZCG) committee has announced that it will no longer proceed with the proposal it submitted on October 29, which aimed to convert approximately 98,000 ZEC into future mining rewards.

The committee stated that subsequent funding arrangements should be determined through Zcash's existing governance process. ZCG currently automatically receives 8% of newly issued ZEC, amounting to approximately 144 ZEC per day; its treasury holds about 91,500 ZEC, a scale sufficient to support expenditures for multiple years. The original proposal planned to allocate 36,200 ZEC from the treasury, injecting them into a network sustainability mechanism to supplement miner block rewards and correspondingly reduce the committee's expected revenue until the 2028 halving. (CoonDesk)