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Zcoin announcement for block reward allocation and funds roadmap

By Inkarias - 2020-05-05

Zcoin team is glad to introduce to the community the division of Zcoin’s block reward for the next 4 years, which will take effect upon the upcoming halving planned for September 2020. The halving also marks the end of the founder and seed investors’ rewards and allows the block reward to go entirely towards the community and for development purposes. After over a year of collecting different feedback from the community via forums and various meetings, the block reward division has been decided and will be coded in upon the next wallet release together with deterministic Znodes and LLMQ. The block reward allocation needed to ensure that current levels of development funding were maintained for long-term, while providing checks and balances to ensure transparency as to how the funds would be utilized in the event of a significant price increase, thus increasing community governance.

Reward allocation and development fund

The community previously reached a consensus to extend the development reward (considering the reward of 12.5 XZC per block is divided amongst all sides)

  • Miners: 50% (6.25 XZC)
  • Znodes: 35% (4.375 XZC)
  • Development Fund: 15% (1.875 XZC)

The development fund is coded in for an additional 4 years after halving. It is subject to a community review at year 2 and year 4 to assess its need and amount. In the event of Zcoin’s price rising, should the development fund exceed approximately 100,000 USD/month, any excess past 100,000 USD/month should be placed in a separate public address and shall be named the Zcoin Reserve Fund. The Zcoin Reserve Fund is a separate fund from the development reward that can only be called upon in specific circumstances or with community approval. It is designed to be a reserve to protect the project against market volatility and to make expenditure a collective decision with the community.

All the details can be seen at https://zcoin.io/