CIP-0099: Proposed Modification to CIP-0060 (zerohash)

Please see below open for discussion. Background and Rationale Since approval of this CIP, Circle deployed USDCx rather than native USDC, which introduces additional technical, regulatory, and customer-education requirements relative to the

Cumberland is generally supportive of adjusting adoption timelines and deliverables to reflect measurement against USDCx instead of USDC.  That being said, before we can give full support to this CIP proposal, we would like to receive clarity on two changes within the CIP:

 

• The only changes made to the initial CIP-0060 would be made under the "Adoption Incentives" section of the SV Reward Deliverables.  As such, we’d like to confirm there are no changes to already earned SV milestones or the exclusivity provision
• This proposal reduces the Adoption Incentive section from 4.5 maximum weight to 4 maximum weight.  We'd like to confirm this intention

 

 

From: cip-discuss@... <cip-discuss@...> On Behalf Of DrAmandaLMartin via lists.sync.global
Sent: Saturday, December 27, 2025 2:11 PM
To: cip-discuss@...
Subject: [ext] [cip-discuss] CIP-TBD: Proposed Modification to CIP-0060 (zerohash)

 

Please see below open for discussion. Background and Rationale Since approval of this CIP, Circle deployed USDCx rather than native USDC, which introduces additional technical, regulatory, and customer-education requirements relative to the

Please see below open for discussion.

 

Background and Rationale

Since approval of this CIP, Circle deployed USDCx rather than native USDC, which introduces additional technical, regulatory, and customer-education requirements relative to the original assumptions in CIP-0060.

For zerohash, USDCx increases implementation complexity and reduces the likelihood for zerohash to meet the original volume-based milestones, despite good-faith execution against the intent of the proposal.

To account for this change while preserving the original incentive structure and outcomes, the following targeted modifications are proposed.

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Modifications to Adoption Incentives (Only)

All SV deliverables and milestones other than Adoption Incentives remain unchanged.

1. Extended Enablement Period for USDCx

zerohash will be granted additional time to fully enable USDCx within its product suite with functionality comparable to natively issued USDC on the Canton network. Additionally, the Incentive Schedule of the remaining 4.5 weight shall also be adjusted to account the additional scope.

• New deadline: March 31, 2026
• Scope includes:

·         

• Technical integration and operational readiness
• Regulatory review and compliance adjustments
• Customer education and onboarding related to USDCx usage on Canton

This extension and adjustment recognizes that USDCx integration represents new and unanticipated work relative to the original CIP assumptions.

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2. Revised Adoption Incentive Schedule (USDCx & CC Volume-Based)

Beginning April 1, 2026, Adoption Incentives will be measured on USDCx volume on Canton and Canton Coin (other similar assets), according to the following schedule:

Milestone A

0.5 SV weight earned for enabling USDCx and enabling 2 Tier 1 platforms (including Kalshi, Interactive Brokers, tastytrade, Draftkings or any other Platforms agreed by the Accountability Committee).

Milestones B

Months 1–6 Post Successful completion of Milestone A:  

• 0.25 SV Weight earned per $40 million of notional settled on Canton, totalling $240 Million.
• Maximum: 1.5 SV Weight

Months 1–12 Post–March 31, 2026

• 0.5 SV Weight earned per $250 million of notional settled on Canton, in excess of $250 million i.e. $250 million - $500 million notional unlocks 0.5 SV.
• Maximum: 0.5 SV Weight

Months 1–24 Post–March 31, 2026

• 0.5 SV Weight earned per $250 million of notional settled on Canton, in excess of $500 million i.e. $750 million - $1 billion notional unlocks 0.5 SV. 
• Maximum: 1.5 SV Weight

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No Other Changes

• All other SV deliverables, deadlines, and weights remain unchanged
• The original intent of incentivizing adoption, not enablement remains intact
• This modification strictly adjusts timing and unit economics to reflect updated technical and market realities

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