As the founders of Blu3, we are deeply saddened by the movement that broke out on Twitter yesterday, which originated after a misinformative tweet thread by Cami. These allegations are false and untrue, and we would like to clarify the following:

1. Harmony Protocol committed $1M to Blu3 DAO in Feb 2022. $1M was never fulfilled. Only $75K was received, which depreciated to ~$45K with the market downturn. The funds still reside in the Blu3 DAO multi-sig, which is secured through 5 of 9 signatories. Amy and I are “silent” signatories – means, we rarely sign on any financial transactions. This is to upkeep our governance process and to ensure that the Treasury is appropriately secured and the control is spread beyond the Founders. Hyperlinked are the links for the two transactions which transferred $30K in USDC and $45K in ONEs from Harmony.

2. All other Harmony transactions paid to Blu3 are flow-through reimbursements for scholars/hackers’ travel expenses, hotel rooms, event-related expenses, food, etc. With the exception of NFT NYC and Bogota, most of these events are “net zero” for Blu3. For some events, Blu3’s leadership, including Amy and Novell, have had to advance and/or pay for selected expenses to make up for any shortfall.

3. All of Blu3 DAO, including founders Novell and Amy, volunteer their time. All co-leads work an average of 15-30 hours a week. Blu3 DAO’s only paid mechanism is 1) in its Partnership Model, which was recently launched in August 2022 (no other compensation prior to that date), and 2) a $500-$2,000 travel reimbursement for Blu3 Leads during ETH conferences, depending on location of event. We do this because we believe in reimbursing our contributors for their time spent conducting Blu3DAO work and travel expenses. In the interest of transparency, we are actively engaging in the process of applying for not-for-profit status as an organization. Our multi-sigs can be found here: **Harmony Multisig** and **Gnosis Safe.**

4. The only direct financial compensation to Amy and Novell were:

• As a member of Moneyboss, Amy received a $50K grant from Harmony in November 2021. This was prior to Blu3 DAO’s existence. The grant was used to write the book “Create Wealth in Harmony.” A first draft of the book was printed for community feedback in February 2022 and distributed at ETH Denver 2022. Note: Moneyboss LLC was a company formed by Novell and Amy during Covid to educate their community about financial literacy excluding financial advice or recommendations. Since April 2022, they have discontinued Moneyboss to focus on building Blu3 DAO.
• Amy and Novell were compensated in a consultant role at a rate of $75/hr plus travel reimbursement for a 2-week July 2022 Harmony offsite for key partners and core team. Amy and Novell, as founders of Blu3 DAO, were considered “key partners” for Harmony. Note that the $75/ hr rate is the standard rate for all Harmony fellows and contributors.

5. With full disclosure, Novell’s husband volunteered as a part-time contributor (paid at the ordinary standard Harmony rate) from April 2022 then later joined full time in Aug 2022. The offer to join Harmony came as a result of his continued interest and dedication to the blockchain world and support of the Harmony team. Note, this offer came months after Harmony’s $1M commitment to Blu3 DAO (Feb-22), but that was never received by the DAO, as previously mentioned.

6. In regards to not filling out the KYC form, we found out that this is not a common practice for this particular organization and decided to pause on moving forward with the partnership.

Since inception, Blu3 has achieved: