FAQ

What is the mission statement of the Monero Fund?

  • We are a committee of a 501(c)(3) public charity that funds Monero-related open source software, research and associated educational initiatives.

How are funds distributed?

  • Donations to the general fund are disbursed by our committee as needs arise. For projects listed on our site, we review and approve submissions carefully to ensure donated funds are positively impacting the Monero ecosystem. To hold researchers and developers accountable, payment schedules are aligned with approved project milestones.

How much of my donation goes towards individuals and projects supported by the Monero Fund?

  • We set up campaigns to closely match the amount needed to pay these individuals and projects. There are some credit card processing fees and other related fees that we try to estimate. Typically, we add a buffer of 3% to the project campaign to account for these.
  • If there are any proceeds are retained by the MAGIC Monero Fund, and will be used on related projects.
  • If a campaign fails to raise the full amount of funds, then the committee will work with the intended recipient to revise the scope of the project, or the raised funds will be used on related projects.

Can an individual or project be funded by both the Monero Community Crowdfunding System (CCS) and the Monero Fund?

  • Yes. There is no expectation of exclusivity, but a proposer cannot raise funds elsewhere for the exact same work that a MAGIC Monero Fund proposal is intended to cover. This allows a proposer to maintain multiple, simultaneous funding options, so long as the scope of work included in the proposal is unique.

Do you distribute grants in Monero, Bitcoin or fiat?

  • We distribute grants in the currency of the researchers choosing. We prefer to pay in XMR but will gladly distribute funds in BTC, USD, or other crypto or fiat currencies that are highly liquid.

How do you collect Monero donations?

  • We use BTCPay Server to receive all cryptocurrency donations. For fiat donations, we leverage Stripe Payments.

Can you provide the view key to verify the Fund's incoming Monero donations?

  • Yes. You can create a view-only Monero wallet with this information:
  • Main address: 
    4458gM5iAPuJBeVf5u9DwS4Hj82qNPzAcgD7wF9VrRCRb4M635UtmZNPPDonqXkBsb2RmKjUSRLXtJNZCjZgnNFKKW3SxBz
  • Secret view key: 
    2595ab540844231f66c2266f12b174461f81c09b39010dc42697a6a58a7d680c
  • Restore height: 2724728

How can I communicate with you?

  • You can reach the committee via Discord, Matrix or email.
  • Applications are reviewed as submitted. Research approval depends on several factors, including funding availability. Projects that align with our mission statement are encouraged to apply. Committee members evaluate each application based on technical merit, potential impact, and the team's ability to execute.
  • All projects should be free and open source and related to Monero or an ancillary technology (like Tor, etc.) which helps Monero use. Your project must align with the mission of our charity to be eligible for donations.
  • To reach MAGIC Grants, please email us.

How can I submit a project for fundraising?

  • Any project that is free and open source and is aligned with the Monero Fund mission are free to submit an application for their project to be listed on the Monero Fund project page.
  • All applications which fulfill the criteria will be evaluated by the Monero Fund Committee. Upon approval, projects will be listed on the MoneroFund project portal. Donors will be able to contribute funds directly to the these pre-approved, mission-aligned projects.
  • If you are helping Monero and Free and Open Source Software (FOSS), please submit an application to be listed on our site.

Are my donations tax deductible?

  • Yes. MAGIC Monero Fund is committee under Multidisciplinary Academic Grants in Cryptocurrencies (MAGIC Grants), a 501(c)(3) non-profit organization. All gifts and donations are tax-deductible in the USA.
  • If you would like to receive a tax deduction, we may need to collect supplementary information such as your name and email for required record keeping. If you donate over $500 with cryptocurrencies, you will need to fill out Form 8283 and email that form to info@maigcgrants.org for us to sign Part V.

The Monero Fund relies on donors like you to help promote and support a sustainable ecosystem of contributors to the Monero ecosystem. We greatly appreciate your contributions.

Can I join the committee?

Can I donate with bank transfer / wire?

  • Yes! Email us, and we will send you the bank details and manually add your donation. We can accept domestic and international wire transfers. Wires are appreciated for large donations, so that ~3% more of your donation can go to the recipient instead of credit card fees.