Zcash (ZEC) holders and community panels will vote from Nov. 16 through Nov. 30 on a draft proposal that would remove 50,000 ZEC from the network's grants treasury, according to COINOTAG.

The proposed removal represents approximately 55% of the 91,453 ZEC recorded in an October treasury snapshot cited in the proposal text. Treasury snapshots of this kind record a fund's balance at a specific point in time and are commonly used as the baseline reference when governance proposals specify amounts; based on the October figure, approval would correspond to a remaining balance of roughly 41,453 ZEC. Polls for coinholders are part of the voting process, which runs through Nov. 30.

Background on Zcash

Zcash is a privacy-focused cryptocurrency that launched in 2016. The network uses zero-knowledge proofs, known as zk-SNARKs, enabling shielded transactions in which the sender, recipient, and transaction amount are not publicly visible on the blockchain. The ZEC token is issued through proof-of-work mining and is used to pay transaction fees on the network.

Role of the Grants Treasury

Grant-funded treasuries are a common governance mechanism across major blockchain ecosystems, used to finance development work, tooling, research, and community initiatives. In Zcash's ecosystem, grants panels review proposals and allocate treasury funds to projects intended to support the network, making the treasury balance the pool from which those allocations are drawn. The draft proposal under consideration would reduce the treasury balance by 50,000 ZEC if approved by voters.

The two-week voting window from Nov. 16–30 defines the period in which coinholders and panels can record their votes, and the outcome will determine whether the removal proceeds.

This content was first published on COINOTAG.