Approximately $80 million worth of ZEC moved into Zcash's new 'Ironwood' pool on the first day of its launch. That amount represents about 5% of the funds from the retired Orchard pool, which can no longer accept deposits.
What the migration numbers mean
The $80 million figure is a snapshot of early adoption. It shows that a small but significant portion of users have already shifted their holdings. The remaining 95% of funds, worth roughly $1.52 billion at current prices, are still sitting in the Orchard pool. That pool is now closed to new deposits, meaning any user who wants to deposit ZEC must use Ironwood.
Why Orchard was retired
The Orchard pool was the previous shielded pool for Zcash. The facts provided do not specify the reason for its retirement, but the move to Ironwood represents an upgrade or change in the protocol. Users who still have funds in Orchard can withdraw them, but they cannot add more.
With 95% of the funds still in the retired pool, the migration is far from complete. It is unclear how long it will take for the remaining ZEC to move, or if there are any incentives for users to do so. The Zcash community and developers will likely be watching the migration rate closely in the coming weeks.
