The recent fluctuations in market prices have highlighted the need for sustainable sources of funding for the continued growth and development of crypto projects. Zcash is one project that won’t be affected by a shortfall in development funds that will inevitably hit many in the crypto space during a prolonged crypto winter. Funded through Zcash’s unique ecosystem, the Zcash Community Grants (ZCG) program offers to fund projects that contribute to the adoption and usability of the Zcash network.
A community-first funding ecosystem
The ZCG program empowers the Zcash community to decide on the projects that will shape Zcash’s future and advance Zcash’s usability, security, privacy and adoption. The program has some serious sums to put to good use: the equivalent of about $12 million at the most recent count. And the program is sustainable because its war chest is replenished by ongoing allocations from Zcash’s Development Fund.
The grant approval process is rigorous but democratic and transparent. A five-person committee whose members have all been elected by Zcash’s community oversees the assessment of proposals. It makes final decisions on which projects will receive funding once the community has had a chance to examine applications and offer their critical take on them.
The submissions process has been designed to allow as wide a pool of applicants as possible without compromising on regulatory compliance. It also operates on a rolling basis, and new applications are reviewed every other week. This gives applicants greater flexibility and more time to fine-tune their proposals.
What kinds of projects receive Zcash community grants?
The diversity of the projects that fall within ZCG’s scope is impressive. As you’d expect, the key areas of wallets, security features, apps and interoperability are being well served by ZCG. For example, $258,000 was recently awarded to expand the reach of Zcash by bringing it to Thorchain, while $130,000 has been allocated to a project that will allow Zcash users to conduct shielded transactions using Trezor Model T hardware wallets.
But ZCG is also wide open to more left field and category-defying initiatives. It even funds projects that aim to raise awareness of the Zcash ecosystem’s unique features and, in doing so, grows the Zcash community and allows its members to get the most out of Zcash. For instance, film production company 37 Laines was recently awarded a grant of $420,000 for the production and distribution of video content that showcases Zcash’s unique vision.
The ZCG program emphasizes inclusion, with development teams and startups of all shapes and sizes able to apply for sums suitable for small, mid-size and large-scale projects. So far, grant sizes have ranged from a $5,580 grant to cover maintenance of ZECpages.com’s Testnet Faucet, to $1.2 million, which was awarded to QEDIT, an organization that will build tools to enable private bitcoin and private USD stablecoins on the Zcash blockchain via Zcash Shielded Assets.
Ready to make a proposal?
As far as we’re aware, the Zcash ecosystem is right out in front of the pack when it comes to reliable and sustainable mechanisms that will deliver serious funding to development projects over the long term. At a time when question marks are emerging over VC’s role in funding dev projects, Zcash is showing through ZCG that a democratic, transparent and stakeholder-focused approach to investment in innovation is possible.
And that can only be great news for development teams of all sizes. If you have a project idea that benefits ordinary users, Zcash Community Grants is the place you should be looking to get it off the ground and on the Zcash blockchain. For more information on applying for a grant, check out the ZCG website.