by MAGIC Monero Fund Committee

Present: Rucknium, Kayaba, Deverick, Csila

Committee Funding

In response to the topic from last week, we explicitly asked how to handle reasonable expenditures, such as promotional materials. We were informed they would go through the grant process, being subject to the standard criteria, such as:

  • No conflicts of interest
  • Legitimate benefit to MAGIC/the Monero Fund

And for this example case, it’d classify as educational materials.

We committed to establishing communications with the developer, offering our support with planning, fundraising if it aligns, and potentially funding. While we had a discussion regarding precedent for CCS proposal funding as a whole, the proposal specifically had no complaints with it. We strongly prefer not offering additional aid to funded CCS proposals, nor do we want to encourage CCS proposals are planned such that they require additional aid.

Upcoming CCS Proposal

We also decided to offer to be the fundraising host for a potentially upcoming CCS proposal. It requested an additional amount due to volatility, as part of its proper planning to not require additional aid. MAGIC has the opportunity to USD-denominate the funding, removing any requirement for an additional amount while still guaranteeing safety, yet still payout in Monero. This would make MAGIC a great fit accordingly.

Researcher Reach Out

Finally, we committed to contacting a researcher, and their network, who has worked on Monero-related topics in the past and could potentially greatly benefit Monero’s academic standing. We hope they, or their peers, will submit grant applications formalizing Monero, evolving its membership proof, or otherwise improving it.