Hello Firo community!
It seems a little premature at this stage for a full MAGIC Firo Fund, but that doesn’t mean there’s no way we can help! After speaking with Reuben, we have opened a campaign to raise funds for the next necessary code audit of Lelantus Spark! Check it out:
MAGIC Grants is a 501(c)(3) public charity that provides undergraduate scholarships and support for public payment infrastructure. We can broadly help with various research, development, and security needs.
MAGIC Grants is meant to complement (but not replace!) the FCS. Donations to MAGIC Grants are tax deductible, and we can accept them in a variety of methods (check, wire, credit card, FIRO, XMR, BTC, etc). Further, we can sign formal contracts with auditors to pay in USD/EUR where necessary, and we can hold funds in a stable asset while the audit is underway to reduce volatility and keep total risks/costs down for everyone.
Reuben says the final auditor has not been selected yet, but we are opening this campaign in advance to get a head start and allow people to get their 2021 tax deductions if they want to sneak these in! We will adjust the fundraising goal up/down as necessary to account for the final costs of the audit once we have those.
In 2021, US residents may be able to take a $300 (for individuals) or $600 (for married filing jointly) above-the-line tax deduction even if you do not itemize your deductions. Take advantage of the tax benefits afforded to you and support a cause you care about!
If you have any questions, please let me know! MAGIC Grants has worked with the Monero community in the past for Bulletproofs+ development and for the DEF CON Cryptocurrency Village. We are extremely happy that the Firo community is trusting us to help you! Security audits are obviously very important, and we want to make the process as inexpensive and painless as possible!