According to PANews news on June 9, Shielded Labs, a new organization completely independent of Electric Coin Co and the Zcash Foundation, released a project proposal for the "Zcash Sustainable Development Fund (ZSF)" on the Zcash Forum. The proposal stated that Shielded Labs is working with Equilibrium Group to jointly develop the Zcash Sustainability Fund (ZSF), Shielded Labs will fund the development of ZSF (ZSF will be built on the protocol layer), and use its understanding of the Zcash ecosystem to To govern and shape the direction of the project, this proposal will be subject to a comment period of at least one month, and if approved by the community, will be developed shortly thereafter.
According to the proposal, ZSF will address the future security of the network after the end of the block reward by modifying the Zcash issuance schedule and introducing a mechanism to use funds to maintain the network. It preserves the 21 million supply cap and slows down the token emission curve, while maintaining an approximate issuance rate that replaces the four-year halving cycle. Fees deposited into the reserve are distributed over time in the form of block rewards to help maintain the network. A ZSF is like an algorithmic savings account or endowment. Funds are set aside for specific purposes, providing a sustainable source of block rewards for the Zcash network. ZSF does not depend on any specific consensus protocol and can be implemented in the current proof-of-work consensus protocol, so it creates a deposit mechanism.
If this ZSF is implemented, all remaining unissued ZEC will be immediately deposited into ZSF, and recipients of block rewards will be paid directly from ZSF. The distribution of block rewards for newly issued ZEC will follow the proportional distribution outlined in ZIP 1014, with 80% allocated to block miners and 20% allocated to existing dev fund recipients.