---
layout: post
title: "Monero Fund Committee Minutes from 2022-03-06"
date: 2022-03-06
author: magicmonerofund
---

### Present: Vik, Rucknium, Kayaba, Deverick, Csilla

### Final review of the Security Audit of Ring Signature Resiliency Against Machine/Deep Learning Attacks grant

Another Monero researcher provided extensive comments on the proposal, supporting it and providing further technical review. With that, and the previous discussion, it was agreed to fund the grant with the only question being for much. This was a point of contention last time due to the fund's limited funding, having only recently posted donation addresses. The committee agreed to use a ranked choice voting system to decide the amount granted to the researcher, resulting in 12k USD being awarded. We are very excited to be moving forward with the Monero Fund's first grant!

### Fund management

With 12k USD being deducted from the balance sheet (previously 12768.4155 USD and 120 XMR), as grant allocations are reserved at time of vote, there was the option to mostly liquidate out of USD. This would be a risky investing strategy defeating the purpose of the reserve established. In order to resolve this, a rebalance maintaining 40% USD holdings was voted on, and it was voted on in perpetuity. All grants distributions will trigger this event in order to ensure responsible fund management and the Monero Fund's financial future.
