Winklevoss Brothers Call for Dissolution of Zcash Grant Committee

Cameron and Tyler Winklevoss have called for the dissolution of the Zcash Community Grants (ZCG) committee and for ZEC holders to have more control over funding. The debate centers around the treasury, which Zcash co-founder Sean Bowe estimated to be over $125 million.

The Winklevoss Brothers' Position

On October 30, Cameron wrote on X that Zcash does not need a new governance system: coin holder voting has worked on traditional markets for centuries and is the blockchain equivalent. “Governance experiments are not part of Zcash’s mission. Its mission is privacy,” he stated, urging the cessation of ZCG’s work.

In response to developer Vinícius Barbosa, Tyler compared ZCG to miners: they invest capital and computational resources, and earnings depend on their contribution to the network, whereas committee members approve funding without bearing comparable risks if projects fail. He called the committee a “fund without accountability” and stated that Zcash can operate without it.

Bowe’s Proposal

On October 27, Bowe proposed redirecting 8% of block subsidies managed by ZCG to the Network Sustainability Mechanism. Existing commitments should be fulfilled, the remaining treasury would go into reserve, and the holder voting program would retain 12%.

Community Dispute

Vinícius Barbosa argued that grants fund projects beneficial to the network, just as miner rewards ensure security. Tyler rejected the comparison: rewards are distributed through measurable competition, while grants are decided by the committee. Criticism intensified after the $550,000 ZECsy initiative approved in August.

Current Model

Currently, 20% of block rewards go towards development: 8% to ZCG, 12% to the retroactive grants program. In September, holders approved $8.39 million for 17 out of 37 proposals; around 2.18 million ZEC participated. Applications are accepted from October 30 to November 13, with voting from December 17 to 29. Changes to ZCG distribution are not approved: Bowe’s proposal would require a network update.