Justin Ehrenhofer announces new MAGIC Monero Fund

Justin Ehrenhofer¹ has announced² MAGIC Grants³’s new Monero Fund⁴’⁵, which aims to supplement the existing Monero Community Crowdfunding System (CCS)⁶:

I’m incredibly excited to finally get this MAGIC Monero Fund off the ground, which can receive tax-deductible donations and support the Monero community through various grants.

MAGIC Grants is a 501(c)(3) public charity that supports the maintenance of public payment infrastructure, including Monero! This Fund will focus on Monero.⁷

MAGIC Grants was inspired by ZOMG (Zcash Open Major Grants)⁸:

We would like to thank the Zcash Foundation and the Zcash community for the inspiration of these advisory committee funds. We feel we have learned a lot from their ZOMG committee, and we hope they can learn from our efforts as well.

Unlike the CCS, with MAGIC, the contractor or employee can bypass market volatility by converting donations to fiat.

Unlike MAGIC, with the CCS, there is no KYC.

According to their AML policy⁹, MAGIC Grants may request the following information from individual grantees:

• Photo ID (eg: passport, driver’s license, military ID)
• Proof of address (eg: utility bill, lease agreement, bank statement, official mail)
• TIN (eg: SSN, ITIN, or EIN)

You can read more about MAGIC Grant’s advantages in the announcement thread¹⁰.

If you’re interested in getting involved with the project, consult the README on the associated Github repository¹¹.

MAGIC is currently looking for community members to participate in voting, run for the 5 available committee positions and donate¹² USD, XMR, and other assets.

Update: add list of candidates for MAGIC Monero Fund comittee positions¹³.

Update: add links to new pages: Voter Expectations¹⁴ and Committee member expectations¹⁵.

Update 22/1/13: committee positions filled¹⁶.

Update 22/11/18: MAGIC Monero Fund launched a new crowdfunding platform¹⁷.