Qureshi Calls for Zcash Development Fund Closure by 2028 Amid Price Rally

Haseeb Qureshi, managing partner at Dragonfly, is calling for the Zcash development fund to close around November 2028. This comes as the recent price rally has turned a routine funding mechanism into a much larger pot of money, raising concerns about institutionalization and politicization.

Qureshi estimates that three specific workstreams still need to be completed before the fund can responsibly close: Tachyon, quantum resistance, and formal verification methods. He believes these tasks will require one to two more years of focused development, aligning with the 2028 expiration date.

Zcash's post-NU6 funding model splits protocol-directed revenue into two buckets, with an effective value of the development fund now surpassing $95 million. Qureshi disclosed his investment in the Zcash Open Development Lab (ZODL), which holds a significant stake in the outcome.

Qureshi's framing for the end state is that Zcash should reach 'protocol solidification,' where the network's identity converges with Bitcoin's as a store of value rather than an evolving platform. He argues that limiting coinholder input in favor of committee oversight will provide policy stability, allowing technical tasks to be completed without funding politics.