The open charity dedicated to the Zcash privacy protocol, Zcash Foundation, is set to appoint five members to build a board responsible for their largest controlled fund devoted to the foundation’s development and activities. In particulars, the five-member board is set to oversee a $36 million treasury.
The newly elected members will be appointed to the foundation’s Community Advisory Panel (CAP). According to its press release, this move is seen as the assurance for a higher community-based process for the dispersion of more than 420,000 ZEC – which is the aforementioned $36 million.
As per the foundation, candidates for the five-person seat will be selected based on two primary criteria. The first one is their knowledge and understanding regarding Zcash and its processes, while the other is their ability to utilize vaster token applications. Zooko Wilcox, the founder of Zcash, brands this five-person board as the most massive controller of assets within the industry for the coming future.
Zcash foundation believes that the interest of the community within the proposal is continually blossoming these past months. Notably, this development came amidst the surge of interest within the crypto market for community-driven governance tokens.