Dragonfly’s Qureshi calls for Zcash development fund to end around 2028

Haseeb Qureshi, managing partner at crypto venture firm Dragonfly, is drawing a line in the sand on Zcash’s development funding. His position: keep the fund alive until its scheduled expiration around November 2028, finish the remaining technical work, then shut it down for good. The timing matters because ZEC’s recent price rally has quietly turned a routine funding mechanism into a much larger pot of money, and that scale is starting to make people uncomfortable. A fund that outgrew its own assumptions Zcash’s post-NU6 funding model splits protocol-directed revenue into two buckets: an 8% allocation to Zcash Community Grants and a 12% lockbox. The effective value of the development fund has now surpassed $95 million, and Qureshi flagged publicly on September 18 that crossing the $100 million threshold would invite a different class of problem: institutionalization and politicization of decisions that were supposed to be technical. Dragonfly holds ZEC, so Qureshi’s position is not purely academic. He disclosed his investment in the Zcash Open Development Lab (ZODL) alongside his comments, which puts him on both sides of the debate as a stakeholder with skin in the outcome. The tec...