ETH Milan <> CDAO Report

Financial Overview

  • Total Expenditure: $63,807

  • Expected Refunds: $7,560

  • Refunds: $3,290

  • Net Expenditure: $52,957

  • Communities Showcased: 14 (DAOrecords, Filipino Artists Guild, BeatDAO, Marma J, NxM, InaDAO, Young Fresh DAO, Apex Trybe, SvaraDAO, ThespiansDAO, Planet Lukukul, C1, mutiDAO, The Clan Guild)

  • Tech Partners: Mintbase, Shardog, Nearhub

  • Cost per Project (14 communities + 3 tech partners): 3,115 USD

Line item Amount Link
[Approved] Funding Request - DAOrecords at ETH Milan 2023 $2000 NEAR
[Approved] Funding Request for Eth Milan 2023 - (Filipino Artist Guild) $1800 NEAR
[Approved] Funding Request for ETH Milan 2023 - Thespians DAO $2000 NEAR
[Approved] Financial Support to Curate and Attend ETH Milan 2023 $800 NEAR
[Approved] Funding Request for ETH Milan 2023 for BeatDAO $1000 NEAR
[Approved] Funding request for ETH Milan 2023 $1600 NEAR
[Approved] Funding Request For Eth Milan 2023 : { Young Fresh Dao) $2000 NEAR
[Approved] Funding Request/Financial support to Attend ETH Milan 2023 $1000 NEAR
Funding Request - Apex Trybe at ETH Milan 2023 - Creatives DAO - NEAR Forum $1000 NEAR
[Approved] Funding Request for ETH Milan 2023 - DedeukwuShryne DAO $2000 NEAR
[Approved] Funding request for ETH Milan 2023 - (C1 Guild aka Chapter One Global Charity Foundation ) $2000 NEAR
[Approved] Funding request for ETH Milan 2023 - Marma J Foundation $2000 NEAR
[Approved] Funding request for ETH Milan 2023 - (Zeitwarp) $150 NEAR
[Approved] funding request for eth milan 2023 - (planet lukukul) $1000 NEAR
[Approved] Funding request for ETH Milan 2023 - (NxM/Charm3d) $2000 NEAR
[Approved] Funding Request for ETH Milan 2023 - Indiaverse DAO $1000 NEAR
[Approved] Funding request for ETH Milan 2023 - (muti DAO) $500 NEAR
[Approved] Funding request for ETH Milan 2023 - Ina DAO at ETH Milan 2023 $1400 NEAR
[Approved] Funding request for ETH Milan 2023 - The Clan/Near Brazil Guild $2000 NEAR
ETH Milan Sponsorship - 50% $10000 NEAR
ETH Milan Sponsorship - Second batch $10000 NEAR
ETH Milan Production $6500 NEAR
Hostel in Milan for CreativesDAO community $5357 NEAR
ETH Milan WG Leader Remuneration $1500 NEAR
Total $63,807 N/A

Achievements and Impact
  • Secured Title Sponsorship resulting in collective engagement of over 50,000 views on the Eth Milan page

  • Projects and advertisements were displayed to more than 1,500 attendees, enhancing brand visibility

  • Keynote speech at the main venue talking about various DAOs and tech projects at NEAR and how they help scale

  • Telegram followers grew from 500 to 1,000 over the last 2 months, indicating a 100% increase in community engagement

  • Twitter followers increased from 1,300 to 3,000, marking a substantial expansion in the online presence

  • Over 393 NFTs from CDAO were collected

  • Wallet creation took a hit and we were only able to onboard about 82 wallets

Potential Partnerships

Many potential projects have expressed interest in partnering with CDAO and NEAR, indicating a growing network and collaboration opportunities.

ETH Milan has identified potential partnership opportunities with the following organizations:

Attendance and Refunds

While Eth Milan saw a significant turnout, we acknowledge that a few members were unable to attend the event. The situation regarding refunds varies among these members. Some have promptly returned the funds (Big M from BeatDAO and Tarun from Indiaverse), while others are in the process of doing so. Regrettably, some individuals have expressed an unwillingness to refund the funds and have indicated the necessity of legal discussions.

UPDATE: 07.12.2023

No. Name DAO Amount ($) Notes
1 @reespect Planet Lukukul & C1 Guild 288 Returned 315 $NEAR (07.12.23 / 1 NEAR = $2.25 / $712). Missing $288.
2 @larkim/@Olakitan Young Fresh DAO 0 Returned in batches; $1 USDT + $1147 USDT + $10 USDT + $842 USDT + $1 USDT = Returned full amount.
3 @Sammiee Capital Guuild 1000 Was supposed to be reimbursed by the end of November.
4 @dandyjj Thespians DAO 1000 Was supposed to be reimbursed by the end of November.
5 @NFTMuse Dedeukwu Shryne DAO 1000 Will not return funds.
6 @Earnest Dedeukwu Shryne DAO 200 Returned $800 USDC.e. Missing $200
7 @Dedeukwu C1 Guild 925 Will not return funds.
8 @MYKHEL C1 Guild 925 Will not return funds.
9 @cotmusic Apex Trybe 1000 Was supposed to be reimbursed by the end of November.
10 Duocelot/Carolina The Clan Guild 380 Returned 330 $NEAR (17.11.23 / 1 NEAR = $1.87 / $620). Missing $380.
Total ____________________ ____________________ 7560 ______________________________________

Additionally, we have documented the names of these individuals in the attached Excel document.


ETH Milan’s event was financially responsible, managing to showcase 14 communities and 3 tech partners effectively within the budget. The identified potential partnerships further demonstrate the event’s positive impact and the opportunities for future collaboration in the blockchain and Ethereum space. Eth Milan is well-positioned for continued growth and engagement in the industry.

Stay Creative,
CDAO Trustees.


Tagging @duocelot and @whoiscavenaghi here for visibility due to the restriction of tagging a maximum of 10 people in the post.

Also, tagging @marketingdao-council for transparency.


Thank you for your report.

lessons learnt from the challenges, particularly those who didn’t attend the events, and those who refused to refund.

Do you have a T&C before announcing the stipen support? If so, please DM me.


Thanks for this report.

Just to clarify, @whoiscavenaghi and I are dealing with a personal situation, but we will give a position asap.


So what was the actual plan before funds were distributed to the people currently being asked for refunds from?
For traveling expenses or what?


The $1,000 given was for flight stipends anyway


Hi Moderators,

I want to drop an official update here on behalf of Youngfresh dao representatives (@larkim & @Olakitan) at the eth Milan event as we have now transferred back the funds received to the creativedao treasury.

We received a total of 2000 usd on the 8th of August 2023 , as at the time funds was sent to us , the rate to dollar to Naira ( our local currency) was arround (750 - 830) to 1 dollar.

In my region, it takes a lot of processing and money to get visa approved, one of the criteria is having a substantial amount of money in your account. We processed our visa application , but unfortunately our visa was declined.
Attached here is the letter of refusal from the embassy

We exchanged 2000usd on the 9th of august 2023 at 750naira to 1 dollar , making a sum total of 1,500,000,000. Naira.

On Thursday 26th of October 2023, arround 12pm GMT, the exchange rate of dollar to naira was 1292 naira to 1 dollar, which was the time of our exchange.

We have transferred back to the creative dao treasury a total of 1161usd which is the exact equivalent to the initial amount we received at the current exchange rate.
For transparency, this is a document of our transaction on binance

Thank You.

1 Like

Hey @larkim, unfortunately, your justification can’t be accepted by us.

You received $2000 to attend ETH Milan, which was supposed to serve as a flight ticket allowance. Since you did not attend ETH Milan, you should return the full amount. So far, you have returned only $1158, which means you still owe $842 to the CreativesDAO.

Hi @Paul
Thank you for your response. This is not to justify any point but to be transparent to all.

We had a meeting prior to this time with @Cryptonaut and it was concluded that we create a doc form with the exchange rate at the time the funds were received and returned.

The equivalent amount of what we received at the current exchange rate which is exactly what we have refunded.

Kindly note that it is foreign exchange and the rate of a $dollar to a local currency (naira) is not stable.

Do well to check the rate difference from the time the funds was received (8th of Aug. 2023) to when it was refunded (26th of October 2023).


Hi Larkim,

The dollar to Naira conversion today shows 1 USD is 788 Naira.

Why is there such a big difference in the price point then?

The difference in return shouldn’t be more than 100 tops per person if this is the conversion price.


Hi @Cryptonaut

Thank you for taking time to confirm the exchange rate.
I would like to note that the exchange rate shown on goggle is the interbank rates,these rate are only accessible by banks. Consumers have no access to this rates, the general public has no access to this rate.

As at this moment the exchange rate from naira to dollar is 1,186 naira to one Usdt (dollar). As at the time we exchanged , which is 26th of October, the rate was 1,292 naira for 1 dollar.

General exchange rate as at today

Exchange rate as at the time we exchanged

I hope it is clearer now.

Thank you.

I took google screenshot as the rate you mentioned in the first screenshot was from google.

Can you share the transaction screenshot from Binance of Funds transferred to your bank account? That will clear any doubts.


1 Like

Hi @Cryptonaut

Thank you again for taking the time to confirm these transactions accurately.

The money we received was changed by a local vendor at different intervals at a 750Naira to 1 dollar.

However, you can check the rate of Usdt to naira at different dates via this link

Thank You

Hi @Cryptonaut thank you for following up on this but I would like to chip in the fact that the Naira currency is very volatile and as such the value fluctuates. I will urge you to track the news as it is a global issue that the naira currency has fallen.

Please linked below is the rate as at October 31 2023

Personally I feel that we should be respectful and mindful of global issues.

I must commend @larkim for the transparency and for the prompt return of funds.

Let me know if you need further clarification.

1 Like

Hi @Cryptonaut , checking to see if you have checked through the rates

On the 17th of November 2023, @duOCELOT sent 330 $NEAR tokens to the CreativesDAO.

1 Like

Hi Paul, thank you for the upate, can you maybe add a column on the first post to see the refunded amount.
Thank you


Please… I need some feedback regards the LATAM proposal. I attended ETH Milan. Only Duocelot that don’t.

1 Like

On the 30th of November 2023, @Earnest sent $800 to CreativesDAO. The table has been updated.


sharing a low-fi photo