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MPIP-25: Strategic Hibernation Phase
Recorded: Feb. 20, 2026 Duration: 0:33:36Space Recording
Short Summary
In a recent discussion, the team addressed the challenges posed by Bitcoin's decline and the resulting impact on the NIR ecosystem, emphasizing a strategic shift towards hibernation mode to reassess and plan for future growth. Community engagement and innovative approaches to yield generation were highlighted as key to navigating the current crypto winter.
Full Transcription
Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. you E aí E aí E aí Hello everybody. Thank you very much for waiting. Apologies.
Had some issues with my ex account. But anyhow, we're back.
Hey, Lucille, how you doing my friend? Hello, hello, my friend.
Can you hear me or should I switch to my phone?
Yeah, I can hear you perfectly right now.
So, all good.
Apologies, I'm in the street right now.
But hopefully it's not going to be that loud.
Okay.
Is the market that bad, my friend?
Yeah, well, sometimes you need to take a walk and yeah see
touch some grass i reckon uh but uh but now all good man just doing the morning stroll with my
kids all good how's everybody there i see a couple of the team members hey josemaria chema lucas
nice to see you here. Maximo Rodrigo.
Always a pleasure.
Voodoo King.
Thank you very much for coming in here.
Some well-known DAO members.
Max Juan, thank you very much for coming in here.
New folks coming in there.
So regards to everybody.
Brazilian care as well.
All the way from beautiful Brazil getting ready for Carnaval so that's gonna be good but anyhow let's get this started
so this X basis is to discuss MPI P 25 that a point for proposal number 25 which
is basically hibernation phase but anyhowcio, let's give people a little bit of context
and explain why we have to push this improvement proposal
on such a short notice.
And more importantly, why is it a key part
of what's going to be happening for 2026?
Oh, yes, yes yes okay to be honest but anyhow i guess
everybody that has at least checking the market once a week knows uh everything went south the last
Bitcoin went down to 60 something, 62, 63, 65. So when Bitcoin goes down, it's like a global low tide. Every vote goes down with Bitcoin. So we got NIR going back to one. That is an awful number for everyone that is working on the NIA ecosystem, for
the validators, because you have to pay your expenses in the stables, but you are getting
your rewards in NIA.
The same happened to us because we are distributing the staking rewards and now the staking rewards value are way low.
This was bad enough on itself, but also if you remember, before the ending of the last year,
the near community pushed for a reduction in inflation. So it's a double whammy now, we got 50% of the rewards cut down by
the inflation reduction and then two thirds of what left is now down when near one, two,
three to one. So it's a complicated situation and we need to enter hibernation mode.
That is going back to spend as little as possible and to dedicate protocol fees to keep the protocol working.
There is no more, let's say at least, in my view, there won't be for at least six to eight months extra
happiness to distribute between the voters.
We cannot perform the buyback anymore.
So we will, the proposal, this proposal in particular, is to move to distribute MPDAO
that sits on the community reserve in the treasury so
it is a big change but there's nothing that we can do about it
well it's not that there's nothing we can do about it right we're doing something about it right
instead of uh us pounding the protocol to the ground right and milking everything for what it's got right we
decided to push this proposal forward so we so so we can make a sustainable system for the doubt right
oh yeah yeah 100 sorry i meant that there's no way to to beat around the bush we we need to understand
everybody needs to make sacrifices right now so So, no, and I think everybody should understand two things, right?
When we closed the deal with Nier Foundation for the five million year endowment,
we were super bullish on putting that benefit to the community, right?
those that benefit to the community right we expected um at least in the paper napkin uh uh
dynamics to get at least uh 1 million in cdl back from the community right through its different
initiatives that never really materialized right and we distributed uh north of one million dollars right
1.8 million dollars exactly and so reality is we tried to keep it alive as much as possible
but reality is it's just uh it was a one-sided deal right and don't get me wrong we're like we're
we're also we're we're for supporting the community, right?
And making the protocol sustainable at the same time.
At that time, it made sense, right?
Near was a better price action.
Staking rewards were not flashed.
So it was a a different scenario right now inflation
has been cut in half and price action for near is much to be desired so we're
making the decision based again and making the community sustainable right the dow sustainable making the protocol
sustainable that's it right i understand that there's not there's not going to be a lot of
value transfer back to individuals but i i i feel that it's okay because we've done, we transfer as much value as we could for as long as we could to the individual.
We did get a couple of people to support us, right?
And that's good.
But at the end of the day, it has, yeah, it's good.
We're closing a cycle basically right now. It has, yeah, it's good.
We're closing a cycle, basically, right now.
So, but we want to be transparent into why we're doing it.
And more importantly, the goal of it.
And so right now it is, we need at least 90 days to get our shit together.
In the sense of understanding what's going to be the next step,
that we allow core team members to get paid for the work that they do,
and more importantly, allow us to create a plan, share this plan with the DAO, get feedback, and in 90 days set something and put in motion,
put something in motion.
And so that's what we're doing right now.
And of course, this is an open platform, right?
If you have better ideas or know of better ways
that we can reach this goal of making the protocol sustainable
by all means right uh the platform is there please uh share with us a improvement proposal a rough
draft let us let the core team give you feedback and take it from there right lucio you want to add some some more
no no yes you you you said it perfectly and uh moving forward okay what we still really believe
is that this will pass as other deep winters in crypto and by the end of the year we will be let's say the entire market will be
going up again from the bottom so it is it is something that we have already lived through
so it's not such a disaster it's just going into hibernation mode. And after that, I think that there are positives.
I think having distributed 1.8 million between the community,
it is a positive, it shows that it can be done,
but also it was a learning experience.
So we need to, when the happy days come back, we need to create a way of participation for the community to participate.
That is a two way street.
Let's say you need to put everything for the community to use, but also you need to make sure that everyone that is forming part of the community is contributing
back to the growth of the protocol. So I think it is a good opportunity to stop and rethink.
Yeah, totally agree. And I think it's not the end of the world come on like uh um we were not
expecting for this um process of value distribution to be forever right infinite and i think and and
i think we didn't mention that enough right but? But at the end of the day, right, the time has come.
Now it's time for two things, two important things will come out of this.
We understand that right now validating or being an LST,
liquid staking platform on the near protocol network,
is not accruing a lot of value that we can distribute outside the core team, right?
That's one.
Second is that we need to basically diversify, right?
That's the big thing we need to do.
We need to diversify, engage other protocols as well.
And this is going to happen, sorry, I think I got cut. And this is going to happen by
community-led efforts. Like I think as core team members and founders, we've built this protocol.
We also have limitations, right?
We are still going to be here.
It's not that we're going to go anywhere.
But at the end of the day, we have limitations in our capacity to build the protocol, right?
Now it's time to the community to start leading.
Core members are going to start to also contribute to where growth is going to happen and so it just takes a village right and i've stated that a number numerous times
it is just not uh lucio's and claudio's thing um i think we distribute enough value that
there's enough ownership right now maybe not in the thousands right
but a couple of a hundred people maybe maybe less maybe a dozen but at the end of the day it's uh
yeah it's like it's like now the community is their time to shine right and i understand that
this is my upset people right hey no you know what i was i was
used to getting every third day of the month and getting my payout and uh and well sorry yeah that's
uh it was cool for for how long it lasted but now it's time to woman up and man up and if you want
to deliver value to the protocol then the protocol is going to
deliver value back to you it's a two-way street now because this is what happens on on bear markets
or crypto winters right only the fit survives and so let's uh we believe that we have uh the
necessary uh capacity the potential and we have a strong community that can lead us out of this
crypto winter much stronger, much united, and more importantly, with new means of
accruing value to the protocol and distribution process for our DAO members.
I don't know.
I don't want us just to be talking.
If there's anybody that would like to get on stage and ask questions or chime in your
unsolicited advice or your two sons, go right ahead, raise your hand, and we'll be glad to bring you up on stage.
Just bear in mind to be respectful to everyone here,
and yeah, just try to keep it civil.
But anyhow, I don't know if there's anybody
that wants to come up on stage. so
so no takers okay that's that's okay that's fine um lucio you wanna you wanna go a little bit into
deep dive into what mpip 25 is and so we can go into a little bit of the details you want to go
for that yes okay so to to be fully transparent like like Claudia said, we have a big amount like 5 million NIR that was a loan from the NIR Foundation. And from part of those rewards, the system was automatically doing buoybacks. And those buoybacks were being distributed every third day of the month.
And those buoybacks were being distributed every third day of the month.
Right now, because this, as we describe course as it should be we returned all the
the year that they have loaned us to them so it is not that we decide to stop distributing
is that there's nothing more to distribute from now so that's the only let's say, it's not that we
decide where to move the existing rewards is that there
are no extra rewards anymore. So the the MPEP is an
authorization to continue the distribution, but with community
funds, that is MPEDAO from the community reserve in the
Treasury and simply recognize that there will be no buoy back for 90 days until we get a
new system where we can extract protocol fees in order to provide the buyback. That will be either getting a lot of more stake on NIR, increasing the stake on Ethereum, or increasing the stake on Solana.
If we can move that upwards, that will require collaboration and effort by the community we maybe get to
increase those protocol the protocol fees from those from those chains and then
it's slowly but surely try to recompose the boy back the boy back source let's
say where where where do the the buyback get funds to buy MPDAO on the market. But right
now, and at least how we see it for 90 days, there won't be no more buybacks. And that
is, to be honest, the basic, the main point of the MPDAO.
Any questions, from from the audience
and to note one more thing there will be there will still be paid
uh everybody will will get paid okay yeah it's a difficult situation right now right like we've uh we've done a
sorry i'm having problems in my mic. One second.
Yes, in the meantime, I was commenting that there will be still payments on the third
day of the month, but those will be minimum.
It won't be what the community and all of us were used to. Of course, anyone that wants to ask a question can do it here, or we can continue in the
governance channel in Discord, or even, I don't know if it's X, yeah, X, you can comment
on below there, this space if you want.
If you don't want to about what you wanna write,
please do so in this corner here. I think Claudio dropped correct yes he might be having problems with his phone so i think
it is good enough i don't know francisco what do you think we can close it here and continue
i think in this car
okay okay perfect everybody Thank you very much.
Max, please.
Hello, thank you for the time.
Let's use GNG and Edwin.
So I have a question regarding the hibernation case for this proposal.
I think, is that will be in the indicate to the stakeholders.
I mean, is the present will be impacts to the stakeholders like, uh,
as the new, uh, holders are maybe and be some other, no,
no, no, no, no, no.
Anyway, that there's no impact there.
The only impact was like, uh, four like four months ago or three months ago when NIAR slashed the inflation rate.
But no, SINIAR will continue to grow at between 4 and 4.5 percent.
That is the APY of the network.
And I will mention it again.
We need to. In order to diversify, we need to grow the other networks
right now in Solana, for example, let me check, but I think we have like two points on top of the normal APY right now.
And PSOL, for example, is 8% APY and the normal staking in Solana is around 6%.
So this is something that is a differentiator of Metapool.
It's something that the community, I think, should help us push and make it known to the Solana community. We need to do an effort there because it is a very interesting offer,
let's say, getting two point more than normal staking.
And we shall just make it known, let's say.
Let's increment our stake in Solana and by the combination of protocol fees in multiple
chains, maybe we can come back to our happy days of getting paid every third day of the
month.
Cloud, I see you're back. We have a question from Max. Do you want to talk again? Is that
okay? Do you have a follow up?
It's all good. Hello Kia. Thank you. Thank you for the inspiration.
Thank you, my friend. Claudio, we were closing and continuing on Discord. Anyone else wants to ask a question?
Okay, all good then.
Thank you very much, everybody.
Thank you, Francisco.
And keep going, my friend.
We were going to keep going.
We will survive this winter by building
as we always do see you see you see you see you in the market bye bye everybody bye Hey, folks. Sorry for it. Just coming in a little bit late. I know Lucius is pushing folks, saying goodbye.
But anyhow, again, thank you very much for helping us reach all our goals.
And sometimes they're not easy.
There are no easy tasks, and there's's no shortcuts as well right and this is one
of those decisions so thank you very much everybody uh looking forward to continue building on top of
different blockchain technologies right so um more news on that uh sooner rather than later
uh and yeah let's uh keep on staking folks uh very important we have a referral program as well
we need to continue to drive tdl for the protocol i know it's tough and it's a not an easy job there
but thank you very much folks that are participating in it max one thank you very much for all the
support uh and i know you're really active on the referral program as well. So thank you. Thank you very much.
I see Mateo here, Brazilian Care, Margarita.
I see Sergio Kun, Rodrigo, core team members, Sky Empire, some of the community members here, EPOC as well.
So thank you very much, everybody, for coming here.
Francisco, for driving all our socials and our messages.
Voodoo King for helping us out, putting everything together.
Lucas, thank you very much for coming in as well. Stay safe, folks, and have a great Friday,
everybody. Up until next time. Cheers. Bye-bye. Let's wrap this up. Thank you.
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