/biz/ - Business & Finance

>>54698042
>I received some money from them, so I think they're pretty cool.
That's nice, anon.
>They are a public charity and have funded research into ETH atomic swaps and security audits.
This is an exhaustive list of (2) projects funded by the MAGIC Monero Fund. Neither project explicitly threatens Cake's business model. You may have a point if MMF funds are disbursed to a project proposal that competes directly with Cake Pay.
>Also the voters of the fund (https://magicgrants.org/funds/monero/monero_fund_voters/)) is a pretty diverse community of many recognizable names in the space.
MAGIC Grants != MAGIC Monero Fund - MAGIC Grants is the parent organization of the MAGIC Monero Fund. Not only are MAGIC Monero Fund voters "added or removed at MAGIC Grants’s discretion," the MAGIC Grants board (3 members, including Justin - Cake employee) reserve the right to veto any decision made by the MAGIC Monero Fund. Pic related (https://magicgrants.org/funds/monero/monero_fund/).). MAGIC Monero Fund voting is purely symbolic.
>CCS is great, I don't see why an additional charity would do any harm.
>Also, if Monero can be controlled by corporations, is it decentralized enough?
Development funding will always be the weakest link of any crypto project. A company that influences this funding will always have a substantial degree of control over the crypto project. Your background as a recipient of MAGIC funding is testament to that.