Zcash Foundation disowns ZRC-20 and $CASH token

The Zcash Foundation has officially disowned the ZRC-20 standard and the $CASH token, stating it had no prior knowledge of these projects. The clarification follows a post published through the Foundation’s X account that incorrectly suggested ZRC-20 was an official token standard for the Zcash network and promoted $CASH as its first token.

The Foundation clarified that ZRC-20 is a private project and not an official Zcash protocol feature or standard. The ZRC-20 specification relies on writing token data into the 512-byte memo field of Zcash shielded outputs, using off-chain indexers to calculate balances. This implementation requires no consensus changes or formal protocol approvals.

While the origin of the promotional post appearing on the Foundation’s account remains unexplained, the organization has not confirmed whether it was the result of an account compromise. Users are urged to conduct their own research before interacting with these third-party tokens.