Hoofbite2k

I've been mining since the launch of $ORE, and I've been involved with $ZINC since the beta. I want to share some thoughts because I think many miners are overlooking what's happening. The $ZINC Problem In my view, $ZINC is the most extractive mining protocol I've participated in. According to the project's documentation, the team committed to using 8% of protocol revenue for buybacks. In practice, those buybacks have largely stopped. Meanwhile, the Bonanza (formerly Motherlode) continues to grow, while the token price remains suppressed. The team's buyback wallet currently holds 1,570 SOL: solscan.io/account/8nEo7GArD… That SOL was supposed to support the ecosystem through buybacks, but instead it appears to be accumulating on the sidelines while miners absorb the downside. As a result: - The $ZINC price is lower than it should be. - The Bonanza is lower than it could be. - Miners are effectively subsidizing the protocol while receiving less value in return. It feels like the mines are being extracted by the team rather than rewarding the miners who keep the protocol alive. My concern is that when the Bonanza eventually declines, the team will then deploy some of this accumulated SOL, after miners have already carried the cost. Track Record Matters Before $ZINC, the team built Turbine Cash, a privacy-focused protocol that ultimately failed. $ZINC was also presented with a privacy narrative, but in reality: - You mine from the same wallet. - You withdraw to the same wallet. - There is no meaningful privacy for the average user. The privacy claim simply doesn't match the actual user experience. Final Thoughts I've seen more and more users raising concerns on X, and I wanted to add my perspective for those who haven't looked deeper into the numbers yet. If the protocol promises buybacks, those buybacks should happen. If miners are providing the value, they shouldn't be the ones carrying the entire burden while protocol-owned SOL continues to pile up. At some point, people need to ask a simple question: Who is benefiting most from the current system — the miners, or the team?