Before opening a CCS proposal, check to see if a MAGIC Monero Fund grant is an option!

The Monero CCS is a trusted platform that has carried Monero development for years. It's a great platform, but it has limitations.

Many people don't realize that the MAGIC Monero Fund is specifically designed to address many (but not all of the) shortcomings of the Monero CCS.

The MAGIC Monero Fund has a formal process for submitting research grant applications, but you can email them to discuss grants for Monero development, Monero educational materials, community tools, security audits, and more!

MAGIC Monero Fund Advantages

  • NO price volatility, unless desired. Grants can be established with an agreed-upon amount of USD, EUR, etc. The equivalent value can be paid in XMR or another currency if desired. The next time you see a CCS proposal that includes a buffer premium to account for volatility, ask why they aren't opening a MAGIC Monero Fund grant application to save the community money.
  • Tax deductions. Donations to specific projects under MAGIC Grants are tax deducible, since they are donations to a 501(c)(3) public charity.
  • Significantly cheaper proposals. Without a volatility buffer (usually at least 10% premium), and when factoring the ability to donate with pre-tax income (~30% savings), projects can be funded for 20-50% less, which is a huge savings that can be used towards other projects.
  • Clear committee. The Monero CCS is managed by the Monero Core Team, and proposals are discussed in the community. While this has some advantages, many CCS proposers have told me that they don't want to answer to 1,000 different bosses. When submitting a grant proposal, your only reviewers are the MAGIC Monero Fund committee, who have been elected by community voters, and a more traditional revenue stream.
  • Proper contract. You will have a clear agreement that says you are entitled to payouts if you complete agreed-upon milestones, which offers you much more protection if you wish to dispute a decision.
  • More crowdfunding options. The MAGIC Monero Fund may decide to raise donations for the full grant value, or they may offer matching donations, or they may fund the entire thing outright without needing a crowdfunding process at all. There are clearer options to discuss.
  • Anonymous donations. Like the Monero CCS, donations can be completely anonymous in XMR. Alternatively, the MAGIC Monero Fund can easily accept donations in other assets as well, such as USD and BTC.

MAGIC Monero Fund Disadvantages

  • Due Diligence. You must complete a due diligence form to receive payment, unlike the Monero CCS. Sadly, this is unavoidable.

The MAGIC Monero Fund isn't for everyone, and it certainly doesn't intend to replace the Monero CCS. However, if one is willing to complete a due diligence form, the MAGIC Monero Fund offers huge advantages to donors and grantees.

I hope that more donors and applicants consider the MAGIC Monero Fund! It's a free resource at your disposal.

Contact: MoneroFund@magicgrants.org

submitted by /u/SamsungGalaxyPlayer
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