Zcash miner revenue founder reward6/12/2023 See Funding, Incentives, and Governance for why the Founders’ Reward is on this four-year schedule.)Īn interesting fact about this distribution is that there are no large pie slices. It just means more of the Founders’ Reward goes to the investors than to the other founders during the first year. (This doesn’t change the size of the Founders’ Reward per block - it is still 2.5 ⓩ for the founders and 10 ⓩ for the Miner for each block in the first four years. The rest of the founders will receive their share of the Founders’ Reward over the first four years of mining. The investors will receive their share of the Founders’ Reward over the first year of mining. From my personal experience negotiating with them, there were a variety of attitudes, with the majority of them more interested in the coin than in the company, but a substantial minority the other way around. Instead, they might have chosen to invest partly because of the accompanying equity in the company. So you can’t simply say that the investors valued coins at $15.24 a piece. Therefore, they effectively paid $15.24 per coin.īe aware that the investors received not only a right to an eventual distribution of Zcash coins, but also a permanent share of the Zcash Electric Coin Company, which may prove to have independent value. Since the Founders’ Reward is 2.1 million coins (10% of the total long-run monetary base of 21 million coins), and since the Founders’ Reward will be split among the owners of the Zcash Company in proportion to their ownership, this means the new round of investors paid $2M for an eventual distribution of 131,250 Zcash coins. In return for $2 million, the new round of investors collectively took ownership of 6.25% of the company.That implies that the new investors were effectively valuing the company at $32 million (at a time when the uncertainties were greater).The overall amount raised including the previous round is $3 million, and the investors collectively now own 16.4% of the company. Stay tuned to this blog to hear more about all of these exciting developments! We are using the money to hire several awesome new people for our team, to further invest in security assurance such as by hiring independent security auditors, to fund the Zcash Open Source Miner Contest, and to lay plans for several more projects. This is a huge vote of confidence in the Zcash team and in the value of the Zcash project, and it gives us plenty of cash to assist the upcoming launch of Zcash Sprout. The investors in this round are: Aaron Grieshaber, Branson Bollinger, Maple Ventures (Amir Chetrit and Steven Nerayoff), Brian Cartmell, Vlad Zamfir, Roger Ver, Digital Currency Group, Barry Silbert, Charles Songhurst, Fenbushi, Shapeshift, Erik Voorhees, David Lee Kuo Chuen, Fred Ehrsam, Sebastian Serrano, and Li Xiaolai. Seventeen investors put in a total of $2 million dollars into the Zcash Electric Coin Company in exchange for equity in the company. Today we’re announcing that this past summer we took in a new round of funding.
0 Comments
Leave a Reply. |