We find ourselves at a pivotal moment in this project’s short history where the economics of our system have been stressed too far. Our Treasury budget has collapsed to the point where, if we fail to take critical actions, we cannot achieve the key strategic objectives that give Horizen value. In coordination with deep team cuts and project scope reductions that have been ongoing for some time, we propose increasing the Treasury pool to 20% of block rewards.
It’s no surprise that the entire crypto industry has been having a terrible 2018, at least from the market side of things. Both total crypto market capitalization and ZEN market cap are down about 90% from the start of the year.
While the sky looks to be falling, we’ve made tremendous leaps forward in terms of infrastructure, usability, and laying the groundwork for real adoption across use cases. We also have an exciting pipeline of products, innovations, and partnerships for this coming quarter....
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