Dragonfly Says Zcash Development Fund Is Sufficient, Should End After 2028
Summary
- Dragonfly said Zcash (ZEC)'s development fund should end after 2028.
- It said the current development fund, holding about 63,962 Zcash and valued at roughly $95 million, is sufficient to fund future development work.
- Some argue maintaining the fund is important as artificial intelligence (AI)-driven cyberattacks and quantum computing continue to advance.
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Dragonfly, a digital-asset venture capital firm, said Zcash's development fund should end after 2028. The debate over the fund's future appears to be intensifying as a recent rally in Zcash pushed its value close to $100 million.
Haseeb Qureshi, Dragonfly's managing partner, wrote on X, formerly known as Twitter, that "the current dev fund should be the last one," Cointelegraph reported on September 18. The existing Zcash development fund is scheduled to expire in 2028.
The Zcash development fund is a mechanism that allocates part of block rewards to protocol development and related work.
Qureshi said the current fund alone provides enough money for future development work. With the fund's value nearing $100 million, he added, disputes over how it is managed risk becoming politicized. The fund currently holds about 63,962 ZEC, worth roughly $95 million.
Others have argued the development fund should be maintained. Matt Huang, co-founder of Paradigm, said the fund plays an important role at a time when artificial intelligence-driven cyberattack capabilities and quantum computing are advancing rapidly.
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