Ryan Sean Adams

There was a tiny slice of the founders reward that my brother Nate Wilcox and I arranged to get directed to ongoing development, if that makes sense.

I remember how big of a slice it was.

18% just went to founders and like 2% went to ongoing development.

And that was what sustained the electric growing company for those four years.

And then the four years was up.

Oh, and the thing that I was saying I was proud of is we baked a sunset clause into the initial rules.

And that forced, exactly as we had sort of intended, that forced a constitutional crisis.

When a bunch of Zcashers said, okay, well, the social contract was we would endure this thing for four years, and then it would be 100% to miners for the rest of time.

And other people said, no, no, no, I don't think that was the social contract.

I think the social contract is that miners can get 80% for the next four years, and 20% will go to this new dev fund thing, which is different than the Founders Award.

So the Founders Award went to the original investors and whoever invested.

And then we managed to like redirect a tiny sliver of that to sustain development.

Then the second four years, it was the Dev Fund, which went to two and a half different organizations.

It went to three different

destinations, and one organization controlled two of them or oversaw or managed two of them.

And then that sunsetted itself because, again, now the social contract is that you expect dev fund proposals to sunset themselves every four years, right?

So that sunsetted itself.

And the new one that's now in effect, there's no organizations that receive any direct funding.

There's still 20%, but it's now because of the halving, it's now

20% of a smaller output of Zcash coins.