by MAGIC Monero Fund Committee

Present: Rucknium, Kayaba, Deverick


Futher exploration of the concept of using NFTs for fundraising occurred, mainly focusing on the basic theory of the idea and how we could set the distribution criteria. No decisions were made nor plans established on this topic.

Draft Research RFP

Rucknium presented a draft of his research-focused RFP document for committee review. This document would clearly establish how research grants should be submitted and their detailing, ensuring validity and the ability to properly review them. Feedback was provided on specific wording, sections, and targets, having certain decisions explained in order to be discussed. Rucknium intends to take this feedback to submit a final copy in the next meeting for committee vote and adoption. This document does specify a mostly applicable timeline for responding to grants, either with an approval or rejection, of three weeks. This was agreed to be reasonable so long as there was an exceptional case noted as possible, ensuring the time needed can be taken.

Grant GitHub Repository

Kayaba presented a draft of a GitHub repository intended for grant applications, predicated on using issues for each application. This would be the primary location for submissions though the Monero Fund Committee email list would also be allowed for more discrete submissions, with partial (and eventual full) disclosure via the GitHub repository. The Research RFP document does provide extensive criteria for grant submissions, extending the repository’s own criteria for that field of grants. The repository itself intends to set a baseline which is complete for development grants.

Investment Policy

Noting the lack of all members, this discussion focused on deciding the intent of investments made by the committee. Commodities and real estate indices were mentioned as possibilities in order to provide stability while protecting against inflation, yet concerns about how liquid such assets would be were put forward. An agreement was made to generally avoid DeFi due to its high amount of risk. Beyond further discussing the desired amount of risk, it was suggested the committee try to update its investment policy no more frequently than monthly, if not even longer, in order to minimize risk by effective day trading and to focus on what matters. A suggestion on fund management where grant funds are frozen immediately upon grant approval was also put forward, yet was not voted on.