---
layout: post
title: "Monero Fund Committee Minutes from 2022-02-13"
date: 2022-02-13
author: magicmonerofund
---

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

### Diversification of funds

The Monero Fund Committee had 200 XMR available to fund grants, along with the ability to decide how to invest it in order to best prolong it. The decision was made, unanimously, to move 40% (80 XMR) into USD as a hedge against bear markets. USDT, USDC, and DAI were also considered, with the vote explicitly falling back to USDC if USD was not a viable option. There is further discussion planned on diversification of the XMR into other cryptocurrency assets, yet that was postponed until the next meeting to ensure other topics can be discussed.

### Research RFP and Grant Application Template

The Research RFP document and Grant Application template were both submitted to be voted on. The committee unanimously agreed to adopt both, with minor clarifications being needed before they were finalized. Their adoptance also set the policies of aiming to respond to applications within 3 weeks, and currently aiming to fund grants up to 20,000 USD. The documents were scheduled for publication, along with an announcement, hopefully within two days, enabling grant applications to be submitted with clarity on the process. The decision was also made to use the [Monero Fund GitHub repository](https://github.com/MAGICGrants/Monero-Fund) previously used for voter registration/committee member candidacy to handle applications, maintaining email availability for more limited disclosure.
