[ZIP idea] Unissue Sprout funds

[daira]

It will be impractical to move funds out of the Sprout pool after NU7.

So, assuming that NU7 remains roughly as planned, I propose that we unissue all remaining Sprout funds at NU8.

[dismad]

Would the burn/unissue move the ZEC into the NSM, or would these funds be lost forever?

• Currently 25,824 ZEC in Sprout

[daira]

Yes: more precisely, if and when ZIP 234 activates, Unissued funds would be counted as part of the Money Reserve defined in that ZIP:

“Money Reserve” - The Money Reserve at a given height of a block chain is the total ZEC/TAZ value remaining to be issued, as calculated by MAX_MONEY − IssuedSupply(height).

So if this proposal activates before or at the same time as ZIP 234, Sprout funds would start being reissued at the same time that ZIP 234 specifies the new issuance formula to take effect (see https://github.com/daira/nsm-simulator ). Otherwise they would start being reissued when this proposal activates.

[daira]

An interesting precedent for unissuance of currency is the European national currencies that were replaced by the Euro.