BY ZCASH

BY ZCASH

FOUNDATION TEAM

Zcash Grants: Terms and Conditions

Updated: March 2022

 

Terms:

1. The Zcash Foundation provides grants via its own grant program as well as providing administrative support for the Zcash Community Grants committee. The terms detailed in this Agreement are applicable to both funding sources. As the administrator of the Zcash Community Grants Dev Fund allocation (as per 1.a.), this Agreement is made between grantees and the Zcash Foundation. If the Zcash Community Grants committee  or the Zcash Foundation approves funding for your proposed project (referred to as “the Project”), the below terms and conditions apply to the approved iteration of your proposal.

 

  • The Zcash Community Grants committee is a committee formed under the administration of the Zcash Foundation as per ZIP 1014. Zcash Community Grants makes funding decisions with their allocation of the Dev Fund to further the Zcash cryptocurrency and its ecosystem.

 

2. The Project is intended to further an exempt charitable, educational, or scientific purpose within the meaning of Section 501(c)(3) of the Internal Revenue Code (the “Code”).  To ensure your work related to the Project furthers an exempt purpose within the meaning of Section 501(c)(3) of the Code, the grant funds provided must be used solely for the Project to further such exempt purposes and the Project must be conducted in accordance with this Agreement.

 

3. To ensure your work furthers exempt purposes within the meaning of the Code, any intellectual property resulting from the proceeds of this grant (including, but not limited to, educational materials, research results, or software) must be made available for free to the public through any reasonable method.

   

4. In publications supported by this grant (including papers, web pages and software), please acknowledge at an appropriate place that the work was “supported by a Zcash Community Grant” or, if funded by a Zcash Foundation grant, “supported by a Zcash Foundation Grant.” (This can be omitted where impractical, e.g., when contributing a small software patch to an external project.)

 

5. We require that you keep the community informed of your Project’s ongoing progress by using your grant thread on the Zcash Forums and the usual Zcash community channels. Please be attentive to community feedback by responding to comments on the thread in a timely fashion.

 

6. For every milestone listed on your grant page (on zcashgrants.org), including once your grant is complete, provide a publicly accessible update on the Zcash Forums. 

 

7. The grant will be disbursed in shielded ZEC, via a blockchain transaction to a z-address. The Foundation will use this third-party service to determine the current market value of ZEC at the time payment is made.

 

8. To execute the transfer, the Zcash Foundation is legally required to obtain the following information from you: 

 

  • A photocopy of the fiduciary’s state-issued identification (passport, driver’s license, etc.). The Fiduciary is the person who has a fiduciary responsibility for acting in the best interest of the funds, CEO or Director in the case of a company, or a sole individual in the case of a sole proprietorship or similar individual entity.

 

  • A filled-out form W-9 (if US taxpayer) or W-8BEN (if nonresident alien individual), or a W-8BEN-E (if foreign corporation)

 

9. The Zcash Foundation understands the regulatory and compliance risks associated with transacting in cryptocurrencies, and will run a Sanctions Screening and Fraud Monitoring on each recipient.  As a condition of receiving the Grant you represent to us, now and until the latter of the submission of a report on the status of the work covered by the proposal or the use of all of the Grant funds, (i) that you are not in violation of any law relating to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”), and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001(Title III of P.L. No. 107-56) (known as the “PATRIOT Act”).  (ii)  neither you or any affiliated person or entity is a person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive Order or a person that is named as a “specially designated national and blocked person” on the most current list published by the US Department of the Treasury, Office of Foreign Assets Control (“OFAC”) at its official website or any replacement website or other replacement official publication of such list; (iii) neither you or any affiliated person or entity is subject to blocking provisions or otherwise a target of sanctions imposed under any sanctions program administered by OFAC; and (iv) neither you or any affiliate person or entity deals in, or otherwise engages in any transaction relating to any property or interests in property blocked pursuant to the Executive Order.

 

10. You may not assign, or otherwise transfer, your rights or delegate any of your obligations under this grant without prior written approval from the Zcash Foundation.

 

11. Your Project must comply with the Zcash Foundation’s trademark policy, including requesting a Trademark Use Agreement if required for the Project’s specific usage of Zcash word marks and logos.

 

12. Tax Implications: Please be aware that in some countries, taxes will be due on the ZEC grant you receive (for the receipt of ZEC, when you sell/exchange it, or both). It is your responsibility to determine your specific tax liability based on your country of residence and any other contributed factors. United States-based grantees that receive funds in excess of $600.00 (USD) will receive a 1099-NEC form from the Zcash Foundation annually (value is determined at time of payment).

 

13. You will indemnify, defend and hold harmless the Zcash Foundation and its directors, officers, employees, volunteers, independent contractors, agents and representatives, including the Zcash Community Grants committee, from and against any claims, rights, liabilities, damages or expenses resulting from, arising out of or relating to the Project, your activities, or your use of any of the grant funds.

 

14. This Agreement does not create any agency, employment, joint employer, joint venture or partnership between you and the Zcash Foundation. 

 

15. You may not assign this Agreement without the prior written consent of the Zcash Foundation.  

 

16. This Agreement sets forth all terms of the grant and replaces all prior understandings and agreements.  Any modification or amendment will be made only in writing signed by the Zcash Foundation. You will notify the Zcash Foundation (zcashgrants.org) immediately if the Project is canceled or delayed or if a request for changes to milestones are required. Any unused grant funds must be returned to the Zcash Foundation.  

 

17. Note that for all grant awards above $5,000 (aggregate calendar year) made to United States-based organizations, the organization’s name and mailing address, as provided on your organization’s W-9 form, will be listed on Schedule I, Part II, 1(a) of the Zcash Foundation’s 990, available to the public via various online resources. Mailing addresses for US individuals will not be reported on the Zcash Foundation’s 990.

 

18. The Zcash Foundation may modify, suspend, or discontinue any payment of grant funds or terminate this Agreement if: (a) the Zcash Foundation is not reasonably satisfied with your progress on the Project; (b) there are significant changes to your leadership or other factors that the Foundation reasonably believes may threaten the project’s success; (c) any member of your team fails to comply with Community Guidelines; or (d) you fail to comply with this Agreement. 

 

19. This Agreement shall be governed by the laws of the state of Delaware, USA.