Qureshi Calls for End to Zcash Dev Fund Amid Governance Debates

Dragonfly's managing partner Haseeb Qureshi has proposed winding down Zcash's developer fund after its current expiration date in 2028. According to Qureshi, the fund is large enough to cover remaining work on Zcash and risks being 'politicized' as it approaches $100 million in value.

The Zcash development fund currently holds 63,962 Zcash tokens worth approximately $95 million, based on data from ZecStats. The fund accrues 0.1875 ZEC tokens per block, representing 12% of the block subsidy under the NU6 upgrade.

Industry watchers are debating who should control the development fund, with Qureshi suggesting a partial model where token holders elect temporary councils. Paradigm founder Matt Huang supports this view and proposes a hybrid model combining additional forms of governance to prevent 'unpredictability' that could limit long-term trust in Zcash.

Maxime Desalle from Winklevoss Capital suggests completely eliminating the development fund, which would resolve the ongoing governance disputes. In contrast, Zcash founder Zooko Wilcox believes the community grants committee has been instrumental in the project's success and growth.