02 RECORD — 2013 to 2026 - one spine - filter by strand

From Zerocash to the ETF

Launch, funding, governance, leadership, exploits, upgrades, market and the promotion network on one axis. The governance strand alone runs Founders' Reward to ZIP 1014 to ZIP 1015 to ZIP 1016 to the January 2026 walkout to a VC-funded lab whose engineers accounted for roughly 82 per cent of merged protocol and wallet repository changes in Ironwood. Dates are printed as the record states them: a row the sources date only to a month says so rather than borrowing a day from its sort key.

shielded share of supply — 2018 to 2026

Shielded share of ZEC supply, 2018 to 2026
Shielded share of ZEC supply, by reading date
DateShare of supplySource note
Aug 20183.6 per centKappos et al.'s own measurement, in the paper that also found 0.3 per cent of transactions fully private
Aug 20217.4 per centZECStats' five-years-ago baseline
Early 20248 per cent-
Aug 20249 per centForbes gives it as about 9 per cent, 1.48M of 16.3M ZEC
Start of 202511 per cent-
Oct 202518 per cent-
Nov 202523 per cent-
May 202630 per centthe peak, about 5M ZEC, and the only time the shielded share has reached 30 per cent
2026-08-22 (block 3,456,227)26 to 26.8 per centCipherScan at block 3,456,227 gives 26.0 percent shielded; ZECStats reads 26.8 percent. Cite the range, roughly 26 to 27 percent. Coin Metrics adds that the growth was driven primarily by shielding and deshielding activity, and that fully shielded transfers remain a small share.

Nine and a half years after mainnet, the shielded share peaked at 30 per cent and fell back. The final reading is a band because its two sources disagree: CipherScan reads 26 per cent and ZECStats 26.8 per cent on the same day. The decline from the May 2026 peak spans the Orchard disclosure and the forced Ironwood migration; the corpus flags the fall and declines to attribute a cause, and so does this chart.

shielded-sharecite
claim
shielded-share
last verified
2026-08-22
confidence
med
  1. Kappos, Yousaf, Maller, Meiklejohn — An Empirical Analysis of Anonymity in Zcash, USENIX Security 2018 USENIX · accessed 2026-08-22
  2. ZEC Stats (zecstats.com) ZEC Stats · accessed 2026-08-22
  3. crypto.news — Why 30% of Zcash supply is in the shielded pool (29 May 2026) crypto.news · 2026-05-29 · accessed 2026-08-22
  4. Forbes — How Satoshi Collaborator Zooko Wilcox Aims to Revive His Zombie Blockchain (8 Aug 2024) Forbes · 2025-03-12 · accessed 2026-08-22
  5. Coin Metrics, State of the Network #338 Coin Metrics · 2025-11-08 · accessed 2026-08-22
  6. CipherScan — Ironwood migration tracker CipherScan · 2026-08-22 · accessed 2026-08-22
  7. CoinGecko — Zcash CoinGecko · accessed 2026-08-22
  8. Coinglass ZEC derivatives coinglass.com · accessed 2026-08-22
C8
C8cite
claim
C8
last verified
2026-08-22
confidence
high
  1. The Block — Zcash developers quit, form new company (7 Jan 2026) The Block · 2026-01-07 · accessed 2026-08-22
  2. CoinDesk — ZODL raises $25M (9 Mar 2026) CoinDesk · 2026-03-09 · accessed 2026-08-22
  3. Draft ecc-zbloc (Obsolete) Zcash Improvement Proposals · accessed 2026-08-22
the 82 per cent figure, its scope and its confidence

124 dated entries, 9 strands. Showing the 9 funding rows; the year numerals stay, so a strand's silent years remain visible.

all124exploit24governance16funding9leadership8protocol22market12regulatory8network20launch5
2013
2014
2015
2016
23 Sep 2016funding2 million dollars raised from 17 investors 2 M raised from 17 investors; company valued at 32 M post; effective ~15.24/coin. Investors named: Aaron Grieshaber, Branson Bollinger, Maple Ventures (Amir Chetrit, Steven Nerayoff), Brian Cartmell, Vlad Zamfir, Roger Ver, Digital Currency Group / Barry Silbert, Charles Songhurst, Fenbushi, ShapeShift / Erik Voorhees, David Lee Kuo Chuen, Fred Ehrsam, Sebastian Serrano, Li Xiaolai. Founders' Reward published: of 10% of the monetary base — founders/employees/advisors 5.72%, investors 1.65%, Zcash Company strategic reserve 1.19%, Zcash Foundation 1.44%.T2016-09-23
T2016-09-23cite
claim
T2016-09-23
last verified
2026-08-22
confidence
high
  1. ECC — Continued Funding and Transparency (23 Sep 2016) Electric Coin Company · 2016-09-23 · accessed 2026-08-22
2017
2018
1 Jul 2018fundingCoinDesk reports Zooko's Founders' Reward details CoinDesk reports Zooko's Founders' Reward: 2,033 ZEC/month ≈ 3.65 M/yr, 0.9% of total supply; 20% split across Zooko + ZF + Zcash Company + 44 other stakeholders.T2018-07-01
T2018-07-01cite
claim
T2018-07-01
last verified
2026-08-22
confidence
high
  1. CoinDesk — What Does Crypto Care if Zooko Is a Millionaire? (1 Jul 2018) CoinDesk · 2018-07-01 · accessed 2026-08-22
2019
10 Nov 2019funding / governanceZIP 1014 created establishing dev fund model ZIP 1014 created — Andrew Miller, Zooko Wilcox (original: Eran Tromer). 20% dev fund: 35% Bootstrap/ECC, 25% ZF, 40% Major Grants; four years; ZF board members barred from holding ECC equity (grace period to 1 Nov 2021).T2019-11-10
T2019-11-10cite
claim
T2019-11-10
last verified
2026-08-22
confidence
high
  1. ZIP 1014 (Dev Fund) Zcash Improvement Proposals · accessed 2026-08-22
2020
18 Nov 2020, 12:34 UTCfunding / protocolCanopy upgrade with first halving and dev fund Canopy — block 1,046,400. First halving (6.25 → 3.125 ZEC). Founders' Reward ends; Dev Fund begins: miners 80%, Major Grants 8%, ECC 7%, ZF 5%. ZIP 212 activates.block 1,046,400T2020-11-18
T2020-11-18cite
claim
T2020-11-18
last verified
2026-08-22
confidence
high
  1. Zcash: Upgrade Canopy Zcash · accessed 2026-08-22
2021
2022
2023
2024
26 Aug 2024fundingZIP 1015 creates the lockbox and ZCG split ZIP 1015 created — Jason McGee, @Peacemonger, Kris Nuttycombe. 12% lockbox + 8% ZCGT2024-08-26
T2024-08-26cite
claim
T2024-08-26
last verified
2026-08-22
confidence
high
  1. ZIP 1015, Block Subsidy Allocation for Non-Direct Development Funding Zcash Improvement Proposals · accessed 2026-08-22
23 Nov 2024, 11:02:59 UTCfunding / protocolNU6 activates the second halving and the lockbox NU6 — block 2,726,400. Second halving (3.125 → 1.5625 ZEC). ECC's and ZF's direct funding streams end; 12% to a lockbox with no agreed disbursement mechanism, 8% to ZCG. Swihart: "Our wallet address will no longer be codified in the protocol"T2024-11-23
T2024-11-23cite
claim
T2024-11-23
last verified
2026-08-22
confidence
high
  1. Zcash: Upgrade NU6 Zcash · accessed 2026-08-22
  2. ECC — Zcash Halvening & NU6 (23 Nov 2024) Electric Coin Company · 2024-11-23 · accessed 2026-08-22
2025
19 Feb 2025funding / governanceZIP 1016 and ZIP 271 create new funding models ZIP 1016 (Community & Coinholder Funding Model — Josh Swihart owner) and ZIP 271 (dev-fund extension + one-time 78,750 ZEC disbursement to a 2-of-3 multisig held by ZF, ECC and Shielded Labs) createdT2025-02-19
T2025-02-19cite
claim
T2025-02-19
last verified
2026-08-22
confidence
high
  1. ZIP 1016, Community and Coinholder Funding Model Zcash Improvement Proposals · accessed 2026-08-22
  2. ZIP 271 (dev fund extension + 78,750 ZEC disbursement) Zcash Improvement Proposals · accessed 2026-08-22
Nov 2025month onlyfunding / protocolNU6.1 activates ZIP 271 and ZIP 1016 funding NU6.1 — mainnet block 3,146,400 (ZIP 255). Activates ZIP 271 (78,750 ZEC disbursement) and ZIP 1016 (8% ZCG / 12% coinholder-controlled, to the third halving at block 4,406,400). ⚠️ exact activation date unverifiedT2025-11-01-2
T2025-11-01-2cite
claim
T2025-11-01-2
last verified
2026-08-22
confidence
high
  1. ZIP 255, Deployment of the NU6.1 Network Upgrade (Mainnet activation height 3,146,400) Zcash Improvement Proposals · 2024-11-23 · accessed 2026-08-22
2026
9 Mar 2026funding / governanceZODL raises $25M seed round Zcash Open Development Lab (ZODL) raises $25 M seed — Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Chapter One, Balaji Srinivasan + angels. Led by Josh SwihartT2026-03-09
T2026-03-09cite
claim
T2026-03-09
last verified
2026-08-22
confidence
high
  1. CoinDesk — ZODL raises $25M (9 Mar 2026) CoinDesk · 2026-03-09 · accessed 2026-08-22
Timeline - ZCashReveal