Winklevoss twins challenge Zcash grants committee
6.8 Crypto Zcash faces a heated debate as the Winklevoss twins call to dissolve its $125M grants committee. ZCG proposes redirecting $124M to mining rewards, but critics demand more direct coinholder control.
A major debate has erupted within the Zcash community regarding the future of its $125 million grants committee. Cameron and Tyler Winklevoss have called for the committee to be dissolved, arguing that ZEC holders should have direct control over funding decisions. They cite concerns about accountability and transparency in the current system. In response to ongoing criticism, Zcash Community Grants (ZCG) has proposed a preliminary plan to redirect approximately 98,000 ZEC (valued at nearly $124 million) from its treasury and future allocations to the Network Sustainability Mechanism. This move aims to bolster future mining rewards and gradually phase out ZCG’s treasury, ending its funding by 2032. The proposal has received mixed reactions. Some community members support the shift, while others argue it fails to address broader issues of oversight and representation. The plan remains under discussion, with a more detailed version expected before any governance changes are implemented.
