# Correcting my funding discrepancies

**URL:** <https://forum.grin.mw/t/correcting-my-funding-discrepancies/7242>\
**Category:** Governance\
**Created:** [April 10, 2020, 3:00pm UTC](https://forum.grin.mw/t/correcting-my-funding-discrepancies/7242 "2020-04-10T15:00:20Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![lehnberg](https://yyz2.discourse-cdn.com/flex036/user_avatar/forum.grin.mw/lehnberg/32/159_2.png) [@lehnberg](https://forum.grin.mw/u/lehnberg)\
**Post date:** [April 10, 2020, 3:00pm UTC](https://forum.grin.mw/t/correcting-my-funding-discrepancies/7242/1 "2020-04-10T15:00:20Z")

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Triggered by [https://github.com/mimblewimble/grin-pm/pull/278](https://github.com/mimblewimble/grin-pm/pull/278).

When I raised my funding request payment on April 1, the GBP/BTC exchange rate meant the withdrawal would be 1.50 BTC.[0]

However, it took until the next day, April 2, for the mu-sig transaction to be signed and broadcasted. At the closing time that day, as per [/pull/278](https://github.com/mimblewimble/grin-pm/pull/278), the price had moved so that 1.50 BTC equaled USD 10,190.43.

Based on the prevailing exchange rates on April 2, this then implies that I was paid **£723.39 too much[2]** in this funding request.

Looking back over my historical funding requests as per the [spending log](https://github.com/mimblewimble/grin-pm/blob/master/financials/spending_log.csv):

- April 12: USD 9,000, paid exact, +/- 0
- October 11: USD 7330.97, i.e. USD 169.03 less than entitled, translating to **£133.62 too little**. [3]
- Jan 15: USD 9719.62, translating to **£47 too little**. [4]

So, in net, I owe the fund:  
£723.39 - £133.62 - £47 = **£542.77**

I propose I deduct that from any future funding request, and if there is no future funding request approved, that I pay back the equivalent according to the prevailing BTC rates at the time.

A way to reduce these volatile swings in exchange rates is to tighten the time from the withdrawal request to when the transaction is actually broadcast. Better co-ordination during signing helps, and something towards this end I think makes sense to be added to the [spending guidelines rfc](https://github.com/mimblewimble/grin-rfcs/pull/41) that’s currently in FCP.

* * *

[0] Source: [https://i.ibb.co/fHWW0sX/Screenshot-2020-04-01-at-11-50-57.png](https://i.ibb.co/fHWW0sX/Screenshot-2020-04-01-at-11-50-57.png)  
[1] [https://www.poundsterlinglive.com/best-exchange-rates/british-pound-to-us-dollar-exchange-rate-on-2020-04-02](https://www.poundsterlinglive.com/best-exchange-rates/british-pound-to-us-dollar-exchange-rate-on-2020-04-02), `(10190.43/1.2392) - 7500 = 723.39`  
[2] [https://www.poundsterlinglive.com/best-exchange-rates/us-dollar-to-british-pound-exchange-rate-on-2019-10-11](https://www.poundsterlinglive.com/best-exchange-rates/us-dollar-to-british-pound-exchange-rate-on-2019-10-11), `169.03*0.7905 = 133.62`  
[3] [https://www.poundsterlinglive.com/best-exchange-rates/us-dollar-to-british-pound-exchange-rate-on-2020-01-15](https://www.poundsterlinglive.com/best-exchange-rates/us-dollar-to-british-pound-exchange-rate-on-2020-01-15), `(9719.62*0.7668) - 7500 = -47.00`