As we all know, I couldn’t make it to breakpoint.
This post is to give a breakdown on how the funds were spent after I received them and plans for reimbursement.
I converted all the funds I received to FIAT immediately and booked flight (part) and accommodation (full) with them. This was before I traveled to the Capital of my country to make VISA enquiries.
A few reasons why I did the above:
- I never thought VISA application was suspended and I was very confident I’d get VISA if I went with the invitation letter from Solana Foundation
- The cost of travelling gets ridiculously expensive closer to the time of departure, same with accommodation, you struggle to find cheap/affordable rooms if your check-in time is nearby. Add to the fact that many people globally will be visiting Lisbon at the same time for Breakpoint.
Note: This is my first time dealing with international travel, so maybe many of my decisions were made out of ignorance and naivety.
As I mentioned here, I was gonna make flight and accommodation choices that are refundable. When I realized my travel won’t be possible after exhausting every means possible, including a letter from the Solana Foundation to the Portuguese foreign ministry, I reached out to the travel agency to request a refund. But it turned out they had some tricks up their sleeves. I went into details on the refund issue in this thread.
I received refund for accommodation after a fierce back and forth with the travel agency, but soon realized I would be in huge loss if I converted it to crypto as the value of our local currency has slumped further since I off-ramped into FIAT.
To add some clarity: I received funds from the Solana Foundation for Breakpoint, but have since used it to purchase a laptop (I’ve been operating in crypto on mobile for the longest time and it’s been very stressful and limiting —I believe my growth in this space, and tech in general, is thwarted due to lack of adequate tools for learning and progress). I also bumped up my GRAPE holding to Neanderthal status (netting a value of $1k+ at the time). Also, the disappointment of breakpoint was accompanied with the comfort of a fully sponsored scholarship to study computer science at Medina, Saudi Arabia. I’ve been running around trying to fulfill all the necessary follow-up actions as well as getting my documents ready and authenticated before VISA issuance.
Lastly, I’ve been avoiding making a post on the Breakpoint funds until I’m ready to reimburse the DAO fully. It’s only honorable I come to the DAO with the complete funds, not part reimbursement and hard to believe stories —so why I haven’t talked about it yet.
Following the discussion in the DAO channel on discord today, I thought it’s best to share some light on the current situation for the awareness of everyone. I currently have 500 USDC liquid as my total savings for the reimbursement of the breakpoint funds. I have no solid deadline for the complete reimbursement as I have no guaranteed source of stable income, but I can only hope that my assets appreciate enough, or I run into an opportunity, or the skills I’m learning now with my newly bought PC accelerate the timeline.
Thank you for the support and I apologise for not being transparent early on.