Zano Development Fund Breakdown

Dev update

Zano
Zano
Jul 10, 2019 · 2 min read

Our plans for funding ongoing development

Being actively involved into crypto space since 2014, the Zano team has been studying every financial model in the crypto market. Some of them are more sustainable than others but in the end they all come down to burning through reserves if the project doesn’t get picked up before reaching the “mainstream” phase.

Even top tier projects have come across this issue in the past. These financial struggles have either required another round of personal investment, a second ICO, a call for donations, or simply resulted in the end of those projects.

Zano proposes a new solution. By staking our own development fund we will be able to run our operations using the interest gained, giving the team an ongoing source of funding to keep everyone paid and working happily. This also means that the actual development fund will remain intact.

55% Foundation fund (2029500 ZANO)

Set aside for marketing, partnerships, and ongoing project expenses. This will be transparent and reported.

30% Founders, team members, and contributors (1107000 ZANO)

Coins are reserved for incentivizing current and future team members and contributors.

15% Development loan (553500 ZANO)

Repayment of the coins loaned by a group of Boolberry shareholders in early 2018 to fund the project development leading up to the coinswap.

The Zano Foundation will issue regular reports on project expenses, staking rewards, and the current state of the foundation fund.

The first report will be published after the coinswap is concluded and we will confirm the total amount of coins swapped to from BBR to ZANO.

Conclusion

Most important to us is the long-term security and stability of Zano. This ability to generate income to fund the project continuously is a new and exciting possibility. We’ve spent a great deal of time pouring over the numbers and believe this path forward not only assures success for the team, but also for all holders of Zano coins for years to come.

Zano News

Zano is a next generation CryptoNote Cryptocurrency, focused on Privacy, E-commerce and Scalability.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store