Zel is a fair-mined, community-based POW coin striving towards building an entire ecosystem of blockchain products including a robust user platform,
high-availability computational network, and dapp development platform. Currently the project does not utilize any institutional
funding, and the Zel Foundation fund was established to pursue technology advancements for Zel led by the community and other 3rd party developers.
Zel began life with a development fund of ~13.2 million ZEL, to be strictly used for development of the project.
In August 2018, the fund was allocated to the Foundation wing (~7.9 million), and now lives in two separate addresses, the
Locked account and the Operational account.
Each year, 10% of the original allotment is moved from the Locked account to the Operational account (790,000 ZEL) to be used on furthering
Zel development, which includes things like: grants for wallet/daemon updates, development of ZelNodes features and dapps related to the
Zel Ecosystem, marketing/PR, anything that benefits the project and Community. Ultimately, there will be a board of Community members that
control the day-to-day operations of the Foundation, separate from the Zel core team, and responsible to the Zel Community.