Zcash Community Seeks to Burn 50,000 ZEC Tokens, With Vote Set for Nov. 16

Summary

• The Zcash community is pursuing a plan to burn 50,000 ZEC tokens held in its development support fund.
• The proposed burn amounts to about 55% of the roughly 91,453 tokens held in the community grants fund.
• If the proposal passes and is activated through a network upgrade, Zcash Community Grants (ZCG) must burn the tokens within 30 days.

Forecast Trend Report by Period

The Zcash community is moving to burn 50,000 ZEC tokens held in a development support fund.

Odaily reported on Nov. 12 that the community will vote from Nov. 16 through Nov. 30 on a proposal to burn 50,000 ZEC from the community grants fund. The amount is equal to about 55% of the roughly 91,453 tokens held by the fund.

If the proposal passes and is activated through a network upgrade, Zcash Community Grants, or ZCG, must burn the tokens within 30 days.

Uk Jin