Zcash’s new security fund is 99.7% old money
Summary
An early post-NU7 snapshot showed Zcash’s Network Sustainability Mechanism holding 369.7 ZEC, of which 368.584 ZEC was inherited unclaimed subsidy and fees. Only about 1.12 ZEC, or 0.3%, had accumulated under the new rules. ZIP 235 directs 60% of transaction fees to the reserve, while payouts are scheduled to begin at block 8,939,664 through gradual additions to block subsidies. The snapshot is too early to establish a sustainable funding rate or determine whether future support will be sufficient; those depend on fee demand and the reserve balance over time.
