Committee briefing
1 of 18 evidence records used by this briefing has changed or is no longer available. Regeneration will preserve this version in history.
1. Executive summary and decision snapshot
imerkle requests $40,500 to build an Indian P2P cash-to-ZEC mobile application using bank Cash Deposit Machines (CDMs), cardless ATM withdrawals, and NEAR escrow. Funding comprises startup support and two milestones targeting delivery within roughly two months. The application is under review. Delivery rests on the founder and a community manager yet to be hired. [1][7]
The strongest capability evidence is the founder’s self-described senior software-engineering and DeFi-startup experience—not demonstrated delivery. Evaluation inference: the central funding question is whether the proposed escrow, cash-dispute handling, and privacy protections can be demonstrated safely before a production launch and liquidity deployment. [1][6][8]
2. Applicant and team track record
- Founder: imerkle would build and launch the product, bootstrap market making, and onboard initial users. No named employers, shipped products, code samples, or independently verified technical achievements appear in the supplied application. [1]
- Additional capacity: the planned community manager would provide documentation, support, and dispute mediation; no individual is identified. [1]
- Funding history: the applicant reports no previous or other funding. This does not establish a complete personal grant history. [6]
Verified prior delivery or outcomes: No grounded evidence found. The supplied background therefore supports an experience claim, not an independently assessable execution record. [1]
3. Proposal scope, milestones, budget, technical approach, and dependencies
Funding and acceptance structure: [7]
- Startup—$12,500: scaffold the mobile application and write/test the NEAR escrow.
- Milestone 1—$23,000, one–two months after startup: Android APK and iOS build, both ATM workflows, an end-to-end mainnet trade, and a verifiable $10,000 multisignature liquidity float actively quoting.
- Milestone 2—$5,000, two months after startup: community-manager onboarding, support channels, guides, and adoption evidence. Its deliverable specifies 30 verified trades, while acceptance requires 100; the contractual threshold needs clarification.
Budget: $25,000 founder compensation, $5,000 community management, $10,000 liquidity, and $500 infrastructure/app-store services. These sum to the requested amount. The liquidity allocation is also described as future treasury funding for operations, marketing, and maintenance. [6]
Architecture: React Native/Flutter mobile software; Rust NEAR escrow; platform bridging into wrapped ZEC; NEAR Chain Signatures for settlement; and lightwalletd/Zcash endpoints. The specified payout first reaches a transparent address, followed by assumed wallet auto-shielding. Seller confirmation releases escrow; timeout permits seller reclamation. [6]
Pilot targets: 100+ transactions, 10+ active sellers, at least 90% completion, under-30-minute median settlement when the workflow is immediately available, and under-10% disputes. These are proposed targets; milestone achievement or pilot outcomes: No grounded evidence found. [7]
4. Community discussion, arguments, responses, and resolution
Strongest case for funding: the applicant argues that physical cash deposits could address digital-transfer freeze exposure while Zcash protects counterparties’ broader holdings. Liquidity and regional support are included to address adoption barriers. These are applicant claims, not demonstrated market or banking outcomes. [5]
Strongest objections: a participant challenges transparent-address metadata exposure, dependence on NEAR signing, and the possibility that a seller receives cash but refuses release. The participant also asks how a mediator can enforce a decision in an allegedly trustless contract. These are material design questions; the cited external NEAR incident does not itself establish this proposal’s failure probability. [8]
Applicant responses: disputes would be manually mediated using banking/CDM video evidence; separate onboarding addresses would precede shielding; trades would purportedly be capped near $580; and KYC might become necessary. The applicant subsequently narrows the privacy objective to counterparty privacy, explicitly excluding anonymity from government or administrators during disputes. [8][9]
Resolution: that clarification resolves the intended privacy scope, not its technical effectiveness. Enforceable arbitration, protection against seller timeout after cash payment, evidence authenticity, and the claim that smaller trades materially reduce censorship risk remain unsupported. The broader claim that CDMs entirely avoid account freezes also remains an assertion. [8][9]
5. Relevant precedents and documented outcomes
- ZExchange—$17,497, declined: the closest product comparison sought a non-KYC P2P Zcash marketplace with secure escrow and decentralized governance. The minutes document unanimous rejection but provide no substantive rejection rationale. Documented reasons: No grounded evidence found. Its decision cannot establish why this request should receive the same treatment. [17]
- Rvess Pay—$32,000, declined: relevant as a fiat-ramp integration with shielded Zcash infrastructure and provider/compliance dependencies. ZCG considered the integration potentially valuable but declined its current form because it appeared to rebuild payment infrastructure rather than reuse existing components. Evaluation inference: this supports asking imerkle to justify custom infrastructure and identify reusable components; it does not settle the merits of CDMs. [18]
6. Material risks and execution considerations
- Security readiness: the application describes an “audited” escrow, but supplies no audit report, named reviewer, audit schedule, or separately identified audit budget. Inference: production readiness cannot be inferred from the architecture description. [6]
- Execution concentration: one developer is responsible for cross-chain engineering, two mobile platforms, launch, and initial market making on the proposed short schedule. Inference: hiring or integration delays could directly affect both milestones. [1][7]
- Liquidity stewardship: the proposal combines trading float and later treasury uses without specifying signers, loss allocation, permitted withdrawals, or treatment of unused funds. Inference: verifiable deployment alone would not demonstrate adequate capital protection. [6][7]
- Sustainability: a proposed 0.5%–0.75% fee would fund ZEC buybacks and treasury operations, but no operating forecast demonstrates post-grant viability. [5][6]
7. Material gaps and questions for the applicant
- Escrow safety: provide the contract state machine and tests showing what happens when cash is paid but the seller refuses release, the timer expires, or an arbitrator intervenes. Who can authorize each outcome? [6][8]
- Integration and privacy: demonstrate native-ZEC funding, bridging, settlement, and shielding on the supported wallets. Which parties can observe identity, addresses, amounts, and timing? [6][9]
- Banking and legal feasibility: provide qualified India-specific advice and documented bank-workflow rules supporting the freeze-risk, transaction-cap, operator-obligation, and proposed disclosure claims. [7][8][9]
- Capability and security: supply relevant shipped work, implementation code, an independent security-review plan, and a budgeted delivery schedule with named responsibilities. [1][6][7]
- Capital controls: who owns and controls the liquidity float, bears trading losses, approves treasury transfers, and returns unused capital? What funds continuing support? [6][7]
- Acceptance and demand: is milestone acceptance based on 30 or 100 trades? How will distinct users, genuine demand, seller activity, and completion/dispute rates be verified without unnecessary identity disclosure? [7]
8. Neutral decision considerations
Evaluation inference: distinguish potential usefulness from readiness to handle real funds. The proposal offers a specific onboarding use case and measurable adoption targets, but those targets do not validate its safety or banking assumptions. [5][7][8]
Committee options include seeking a revised production proposal or considering a separately costed feasibility stage. Possible funding conditions include independent technical review, demonstrated adverse-case dispute handling, a qualified compliance assessment, ring-fenced liquidity controls, and consistent acceptance criteria. These are evaluation options, not an approve-or-reject recommendation. [6][7][8]
9. Numbered source list
- [1] Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/435
- [7] Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 4 — https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1
- [6] Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 3 — https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1
- [8] Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 5 — https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/2
- [5] Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 2 — https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1
- [9] Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 6 — https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/5
- [17] ZExchange: A Decentralized P2P Marketplace for Zcash — comparison summary — https://forum.zcashcommunity.com/t/zcash-community-grants-meeting-minutes-9-2-2024/48729
- [18] Rvess Pay ZEC to Mobile Money Integration — comparison summary — https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/390
Evidence coverage18 of 53 records selected
Generation diagnostics show what was available to the briefing process and what was supplied to the model.
- Evidence records
- 18 selected 35 omitted from 53 candidates
- Current application share
- 84% Of the evidence prompt
- Prompt use
- 62,951 characters 70% of 90,000
- Truncated records
- 0 Selected records shortened to fit the prompt
Primary Forum discussion
- Posts
- 9 packed0 omitted9 available
- Discussion chunks
- 8 packed1 omitted9 available
Omitted discussion remains indexed but was not included in this version's model prompt.
Evidence and citations (18) · 1 changed or unavailable
- [1]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMsThis applicationGithub Issue
Grant application: P2P Cash-to-ZEC Onboarding via Bank CDMs Applicant: imerkle Status: under_review Requested amount USD: 40500.00 Source: github_issue:ZcashCommunityGrants/zcashcommunitygrants#435 Source URL: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/435 Source title: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Source summary: ### Terms and Conditions - [x] I agree to the [Grant Agreement](https://9ba4718c-5c73-47c3-a024-4fc4e5278803.usrfiles.com/ugd/9ba471_f81ef4e4b5f040038350270590eb2e42.pdf) terms if funded - [x] I agree to [Provide KYC informatio
- [2]P2P Cash-to-ZEC Onboarding via Bank CDMsThis applicationCanonical Application
Grant application: P2P Cash-to-ZEC Onboarding via Bank CDMs Applicant: imerkle Status: under_review GitHub labels: name: 📋 Grant Application | status: grant_application | category: intake | name: 👀 Ready For ZCG Review | status: ready_for_zcg_review | category: review Requested amount USD: 40500.00 GitHub issue: 435 GitHub URL: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/435 generatedBy: grant_reconciliation_v1 githubLabels: 📋 Grant Application githubLabels: 👀 Ready For ZCG Review sheetRowCount: 0 githubSourceId: ZcashCommunityGrants/zcashcommunitygrants#435 githubC
- [3]P2P Cash-to-ZEC Onboarding via Bank CDMsThis applicationGoogle Sheet Row
Grant application: P2P Cash-to-ZEC Onboarding via Bank CDMs Applicant: imerkle Status: under_review Requested amount USD: 40500.00 Source: google_sheet_row:1FQ28rDCyRW0TiNxrm3rgD8ai2KGUsXAjPieQmI1kKKg:1164534734:grant-platform:939eb577f9bceff3c6028dda3eb36a738deaf2e96e5f36bc347ddef809ee01dd Source URL: https://docs.google.com/spreadsheets/d/1FQ28rDCyRW0TiNxrm3rgD8ai2KGUsXAjPieQmI1kKKg/edit?gid=1164534734 Source title: P2P Cash-to-ZEC Onboarding via Bank CDMs Source summary: Date Submitted: 9/19/2026 | Proposal Title: P2P Cash-to-ZEC Onboarding via Bank CDMs | Applicant(s): imerkle | Grant Plat
- [4]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 1This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #1 by imerkle Posted: 2026-09-22 08:21:44.806+00 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1 Post part 1 of 5 github.com/ZcashCommunityGrants/zcashcommunitygrants Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs opened 09:48AM - 20 Sep 26 UTC imerkle ### Terms and Conditions - [x] I agree to the [Grant Agreement](http
- [5]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 2This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #1 by imerkle Posted: 2026-09-22 08:21:44.806+00 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1 Post part 2 of 5 Summary An P2P mobile app enabling Indian users to buy and sell Zcash via Cash Deposit Machines (CDMs) using NEAR smart contracts for escrow, eliminating the threat of bank account freezes and de-anonymization when linking real-w
- [6]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 3This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #1 by imerkle Posted: 2026-09-22 08:21:44.806+00 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1 Post part 3 of 5 Platform trading fees are routed directly to buy ZEC on the open market, locking it into the project treasury to fund ongoing operations and long-term liquidity. ### Solution Format Mobile application (React Native / Flutter fo
- [7]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 4This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #1 by imerkle Posted: 2026-09-22 08:21:44.806+00 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/1 Post part 4 of 5 separating spending keys from viewing keys, users can generate read-only Unified Full Viewing Keys (UFVKs) or transaction-specific viewing proofs. This allows individuals to cryptographically prove the legitimate origin, destinati
- [8]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 5This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #2 by Strahn Cryptography Pte. Ltd. Posted: 2026-09-22 13:07:33.228+00 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/2 I’m sorry, NEAR escrow contracts? As in the same NEAR contracts as in My experience exiting shielded ZEC from Zodl to NEAR Intents: $589k USDT still held 50 days despite a written compliance clearance , which is clearly not t
- [9]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 1–5, part 6This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #5 by imerkle Posted: 2026-09-23 04:22:37.651+00 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/5 You are not anonymous to the government, nor to the admins (in the event of a dispute). The goal here is counterparty privacy ensuring the person you are trading with cannot look up your transaction and say: “Hey, this real-world person X who ju
- [10]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 6–10, part 1This applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #6 by Strahn Cryptography Pte. Ltd. Posted: 2026-09-23 04:25:54.648+00 Reply to post #5 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/6 imerkle: “Hey, this real-world person X who just sold me $500 of crypto has $200k sitting in their on-chain wallet.” That is… not offered by your solution at all? The address who started the escrow is log
- [11]Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs — posts 6–10, part 2Changed since briefingThis applicationForum Link
Forum topic: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Topic URL: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 Post #9 by Strahn Cryptography Pte. Ltd. Posted: 2026-09-23 13:37:02.153+00 Reply to post #8 Permalink: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741/9 imerkle: Whether a user chooses to report their sold assets or evade taxes is between them and the tax authority; that is their legal responsibility, not the software’s concern. You do know that’s not how
- [12]Comment on #435: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMsThis applicationGithub Issue Comment
Grant application: P2P Cash-to-ZEC Onboarding via Bank CDMs Applicant: imerkle Status: under_review Requested amount USD: 40500.00 Source: github_issue_comment:ZcashCommunityGrants/zcashcommunitygrants#435:comment:5749047634 Source URL: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/435#issuecomment-5749047634 Source title: Comment on #435: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Source summary: Thank you for submitting a grant application to Zcash Community Grants (ZCG). Please confirm the following before review begins — addressing these upfront will
- [13]Comment on #435: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMsThis applicationGithub Issue Comment
Grant application: P2P Cash-to-ZEC Onboarding via Bank CDMs Applicant: imerkle Status: under_review Requested amount USD: 40500.00 Source: github_issue_comment:ZcashCommunityGrants/zcashcommunitygrants#435:comment:5750763543 Source URL: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/435#issuecomment-5750763543 Source title: Comment on #435: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Source summary: Your trust level on the Forum has been increased. Please post the link here when available. id: 5750763543 url: https://api.github.com/repos/ZcashCommunityGran
- [14]Comment on #435: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMsThis applicationGithub Issue Comment
Grant application: P2P Cash-to-ZEC Onboarding via Bank CDMs Applicant: imerkle Status: under_review Requested amount USD: 40500.00 Source: github_issue_comment:ZcashCommunityGrants/zcashcommunitygrants#435:comment:5775102521 Source URL: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/435#issuecomment-5775102521 Source title: Comment on #435: Grant Application - P2P Cash-to-ZEC Onboarding via Bank CDMs Source summary: https://forum.zcashcommunity.com/t/grant-application-p2p-cash-to-zec-onboarding-via-bank-cdms/57741 id: 5775102521 url: https://api.github.com/repos/ZcashCommu
- [15]Zcash Onboarding @ Web3Lagos Conference 2026 — comparison summarySimilar ApprovedCanonical Application
Comparable grant: Zcash Onboarding @ Web3Lagos Conference 2026 Applicant: Zcash Developer Onboarding Recorded outcome/status: approved Requested amount USD: 8240.00 Application source: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/349 Workflow outcome signal: ✅ Startup Payment Completed — status startup_payment_completed Workflow outcome signal: ✅ Grant Approved — status approved Workflow outcome signal: ✔️ Grant Complete — status grant_complete Documented outcome signal: historicalRegistryDecisionDate: 7/20/26 Documented outcome signal: historicalRegistryStatus: Approved
- [16]Zcash Extensible Wallet Interchange Format (ZeWiF) — comparison summarySimilar ApprovedCanonical Application
Comparable grant: Zcash Extensible Wallet Interchange Format (ZeWiF) Applicant: Blockchain Commons with Zingo Labs Recorded outcome/status: approved Requested amount USD: 121200.00 Application source: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/3 Workflow outcome signal: ✔️ Changes Approved — status changes_approved Workflow outcome signal: ✅ Grant Approved — status approved Workflow outcome signal: ✔️ Grant Complete — status grant_complete Workflow outcome signal: 🎯 Milestone 1 Complete — status milestone_complete — milestone 1 Workflow outcome signal: 🎯 Milestone 2
- [17]ZExchange: A Decentralized P2P Marketplace for Zcash — comparison summarySimilar DeclinedCanonical Application
Comparable grant: ZExchange: A Decentralized P2P Marketplace for Zcash Applicant: Emmanuel Recorded outcome/status: declined Requested amount USD: 17497.00 Documented outcome signal: decisionDate: 2024-09-02 Documented outcome signal: decisionSummary: ZCG rejected the proposal after forum review. Committee decision (2024-09-02): declined Committee rationale: - Brian gave background for this proposal. Emmanuel proposes building a decentralized P2P marketplace for acquiring Zcash without KYC requirements for $17,497. The project seeks to create a web-based platform with front and backend compone
- [18]Rvess Pay ZEC to Mobile Money Integration — comparison summarySimilar DeclinedCanonical Application
Comparable grant: Rvess Pay ZEC to Mobile Money Integration Applicant: Olisehgenesis Recorded outcome/status: declined Application source: https://github.com/ZcashCommunityGrants/zcashcommunitygrants/issues/390 Workflow outcome signal: ❌ Grant Declined — status declined Documented outcome signal: historicalRegistryDecisionDate: 8/31/26 Documented outcome signal: historicalRegistryStatus: Rejected Committee decision (2026-08-31): declined Committee rationale: Applicant requests a grant to add Zcash shielded payment infrastructure to an existing Cardano-piloted mobile money off-ramp platform, ta