GM GM good night. Good evening, everybody. Thank you very much for coming in. So we're kicking off this
Spaces to talk about something really really important. We're an account down clock right now
And it seems that it's a the clock is ticking faster and faster every every day as a yes, it goes by
But anyhow really excited
This is if you've been listening to some of our space recent spaces or either in Spanish or in English
Sorry, my my no fallow Portuguese. So my my Portuguese is not that good
but it's been it's gonna be quite quite the
The event right? I know that a lot of things are happening right now in the crypto ecosystem
abroad, but this is this will be something that we believe it's gonna it's gonna mark a
before-and-after in what we're calling up in what we're
Describing as multi-chain governance
And so this is something that we've been working since
First since Genesis, but anyhow before we start I just want to
Acknowledge some of the folks in in the room here
If you see them here, most of them are a part of the team and part of the the ambassador community as well
We have Leonin sky Empire. Thank you very much for coming in here
Then we have some team members, of course
He's also one of the few few folks that have been
Well eavesdropping on what we're doing right we've been sharing some some some
Of our roadmap with him Danny P from the dog enos as well. Thank you very much for coming in here
So and some new facers as well Ben Huey Kawah first. Thank you very much for coming in here
I believe that one of the most important parts of
community is its members and
When we started back in 2021 our vision of a liquid-seeking platform was to be
At that time to be totally transparent. We did not
Know what that meant, right?
Because when you're talking about a decentralized
You are basically discussing something that has never been built before in the sense that
You are allowing a community
And we're talking when we're talking about blockchain technology that could either be a smart contract that could be a
Protocol itself right which is then
Ecosystem of smart contracts around it
And services as well, right?
So so and we're seeing a little bit of of the the challenges around DOWs, right?
we had a really really got good conversation this Monday with one of the
Largest governance participants in the Aave community in the Aave Dow and he was questioning a lot of
why would we go and build a multi-chain governance when we knew that it was really difficult for folks to
Engage in it, and this is where we're
Thinking outside the box, right? I'm not gonna
BSU and tell you yeah, yes, we're innovating
But we are building at the edges of what this technology can bring to blockchain technology to blockchain enthusiasts to the blockchain
Which is how can you leverage technology to work for the individuals and organizations that are providing
Value to it, right? And I think we saw this and in the first
Defy summer right when we saw folks participating as liquidity providers in different pools
farming then we saw a bunch of
That was really excited at that times to be totally honest. I did not participate in that
Coming from Mexico, you know better that to send tokens to a random
Well in this case to send an asset to a random place
You just don't do that. Right? It's just you're not gonna do it. Even if they say hey
250% APY or whatnot, right?
eventually, I did get to do some
cakes right and farms and on pancake swap was really straightforward and that and then right there is when it hit me right
Bull market and he said, you know what? This is what?
Digital platforms will look like right something fun something very
Resemble to what would be a casino, right?
Let's be honest that that's some of the the the how
People engage with defy was through and and and people were and this is where the term dgens came in right at the generates
That they were leveraging like super it
250 X right and whatnot then of course the problem with that is all the rug pulling
The people getting liquidated right not understanding what this financial
What this digital financial platforms meant now, we're out in 2024
I think people are more knowledgeable now on what are the risks, right? They understand that there's a smart contract risks
They're still this is a very nascent
Ecosystem, right and you need to understand that there's not something
Rome was not built in one day. It did burn in one day, which is very very important for us to consider
Right, it will take you a lifetime to build trust in a community
But it will take you only seconds to for that to evaporate, right?
So thread lightly and more importantly understand that it is still a very small ecosystem, right?
And let's try to do good and and do the best for the for the community and this is our vision, right?
Our vision is how we're building a decentralized protocol that will that will accrue value for the users that are
providing value to the system, right and
For us when we got into liquid staking and I'll go I see some familiar faces and some new faces here
So just want to reset the room a little bit. Hey, Shenops. Thank you for coming in Matt. Thank you very much for coming in
I see Alexander all the way from from medallium. Thank you very much for coming in one robot as well max one
Thank you very much. Margarita
Brazilian care or Tiago Sanchito from the old guard of web 2.0. Thank you very much for coming in here, mate
Really appreciate you your interest in and in everything crypto Lucita. Thank you very much for coming in Olivia. Thank you very much as well
What we're talking about right now is the tokenomics reset and this is the token engineering behind the system of our Dow
It's as easy as that right
When we started it back in 2021, we built a liquid staking platform that was run by a Dow
Right now this Dow has three council members
That mean one is open shards Alliance, which represents the need the the the node operators
We have nor wallets, which is representing private companies or private organizations in the near ecosystem
It was an initial project
That launched a Chrome extension wallet and then we have near his panel, which is representing the on chain communities
Now near his plan is no no longer there. We're trying to see who can pick up the reins there
For the moment. It is some of the early members of the nearest panel community
For us one of the most important parts here is
Allowing all of the value to be being accrued by the platform
How does the medical Dow a crew value it is through the liquid staking smart contract?
When you provide the near tokens to be delegated
The protocol itself takes a small fee from the staking rewards
these mean that right now the staking rewards fee is 6% and
Not about not of all the delegation but on the 10% of the staking rewards
So let's say that somebody is
delegating a hundred near then out of that there's around a
7% fee that they this the node operators are charging. So that will mean around
Then out of that 0.7 near the medical Dow takes a
6% fee out of that. So as you see, it's pretty cheap, right? We're not
We're driving because this is our commitment right for users to accrue most of the value from the platform
Right now that's accruing some value some some staking rewards fees of around
Maybe three to four thousand near per month. That is because we have close to the latest number is
21.27 million near tokens, which is around a hundred and forty one point seventy two million dollars in USD
So so as you see this is this it is something that we're generating right and and let me tell you right now
The current protocol fees being accrued is four thousand three hundred and twenty-seven near
So at the current price is around well thirty thirty two thousand thirty
seven thousand dollars per month
So this is something really important. What this allows us to do is
it allows us to create what we believe is the
Necessary ground base for us to build
Decentralization on top of the of all of this organization. So
What decision that the medical Dow make so on May last year we started to launch our governance
Increase the total allocation of the fees from four percent to six percent
Because at that point we committed for
Fifty percent of all staking reward fees
To be allocated to the community back into the community people and more importantly for people that participated in the Dow
locking up the meta governance token
using the voting power either to vote for node operators or
medical improvement proposals and so the folks that use that voting power
Have had a participation in that for fifty percent allocation of the protocol fees now the other fifty percent our commitment
Well, it is sorry to support community programs and community initiatives either by individuals or organizations
So in that sense, we're really happy to announce that we've distributed around
St-year tokens. So in that is around eight point sixty four dollars per as tenure
so close to close to sixty thousand dollars
that that is on top of the
Staking reward fees that we collected from the Ethereum side as well
Where our commitment is for the first two thousand Ethereum being delegated all protocol fees are gonna go directly to community initiatives
Gitcoin round eight. I think it was for LATAM
We've also supported a give it campaign based for Asia Pacific as well
And so we've been putting our tokens where our mouth is, right and we haven't done
anything else with the the protocol fees outside of supporting the community and
Community abroad right? It's not that we are only need a chain focus
From the get-go from last year. We announced that we were going we're going to go chain agnostic. So going back into governance
Also very important if you have any questions, please raise your hand
No worries go and and and send us your your questions. You can write them as well post them. So
This is very important because it gives it gives a chance for people to air out any doubts. They have our concerns
And and more importantly for us is discuss and openly with the community
So any questions comments
Go right ahead if you have some just raise your hand and we'll bring you up
No worries about that. Please be mindful and respectful of folks that are here on the on the on the okay. Here you go
Hopefully this is gonna work
Francisco you can you can bring bring max one up. I brought him up, but it's not I don't know. Okay, there you go
Max one. Thank you very much. My friend. I was everything good eat. Good night over there
You're muted good night brother
Say loud and clear my friend loud and clear. Okay. Okay. How you doing guys? Thank you for
The time I want to ask about the reward piece about the and be though
Who people who active participating the dow?
It's still we have a strict
or we have any changing about the report because
Someone or some people asking about that three what related to the MD doubt often. Thank you, Claudia
Yes, so I was just about to get into into the
Dynamic of the tokenomics we said so thank you much for your question max one. Hey, hey crypto room room
Thank you very much for coming in as well, man
Like I said Bankus community is really really a really exciting community re-engaging as well. So thank you very much for coming here lose
Thank you very much for coming here Abraham 0x vivid. Thank you very much for coming in here
Let's see if a few few folks here Brian Abraham. Thank you very much for coming. So anyhow
Talking about the MP Dow token right and and how it's gonna be accruing value right now
And this is very important
Our current governance token is called meta
The reason we're gonna we did their tokenomics reset is that we wanted we wanted first of all to change the name
I think I've said this a couple of times. But anyhow, it doesn't it doesn't matter me repeating myself is
Yes, the ticker meta. It is a troublesome ticker, right when we started back in 2021 Facebook was not named meta
so now that is named meta, of course, there's a lot of
Mean coins and whatnot and getting listed in Central X exchanges has been a
fiasco just to say the list
For not saying it's been a shit show
That's a for the most important one. So what's gonna happen, right? So meta governance token in 26 days
We're gonna allow folks for them to start the migration process
Because we will not be supporting meta
That we are not gonna burn it right now. That way it is something that slowly but surely we're gonna have to migrate folks
I understand there's there's a bunch of folks with meta over on Aurora as well
We want them to bring bring that back
Acknowledge them that they're owners of that governance token, but there's only again gonna be up to a point where we're gonna help them
Right. It's just we can't leave that door open forever. So now what's gonna happen? We're gonna change
We're gonna allow people to migrate
They were gonna when you migrate your meta to MPDAO
accrue the voting power that you've that you've
That you what was sorry gonna go back two steps first
So met is gonna become MPDAO. How is that gonna happen? We're gonna people that have met a lot
Right, they're gonna able to migrate it migrate it. Okay, so
Meta and MPDAO in your wallet, right? Very important and
There is not gonna be double spending here
For those that want to gain the system that's not gonna happen and I'm gonna explain how
So voting power and where that voting power is being right now used that's gonna stay the same
So there's no changes there. Okay
So you're gonna be accruing all the protocol rewards as as is right? That's very important
you're not gonna lose your voting power and
And you will not lose the protocol fees. Okay up until May 1st
Very important. That's why we're starting to migrate folks early from in April on April 15
So we give us two weeks for people to do the migration continue to accrue the rewards, right?
That's not gonna that's we're not gonna lose anything about that now
Coming May 1st the upgrade to the smart contract for our governance is that we will not accept meta
Even if you have it lock it up even if you see meta there
It's not gonna be used it used by it's not gonna be it's not gonna be allowed to be to govern
The DAO the the DAO smart contract. Okay, that is very important for folks to understand. I know that this is gonna be
Difficult to explain we're gonna do our best to
Start to create the tutorials videos around it. Okay, please be patient with us
More importantly here at call out to our ambassadors, please
Let's try to have all the information in your local language in your regional language
So we can have as much impact as we can on your community now
Next steps around around that so coming April 15
We're gonna start the migration process people are gonna continue to accrue the voting power
The voting power being allocated to the different initiatives. That's not gonna be lost that is gonna stay the same
You're gonna still be accruing the protocol fees now come May 1st. What's gonna happen come May 1st
What's gonna happen is that we will no longer support our meta governance token, right?
So those are gonna be unlocked people can do whatever they want, right?
We will for those that didn't and this is very important for those
People that still have meta on their wallet, which was not migrated, right?
We will honor that up until a certain point and that will be done through a
Voting by the gut by the Dow, right? The community members are gonna this out decide how long they will honor
Those meta governance tokens that were not migrated
We will suggest right up until
December 1st, so we give enough time
but at the end of the day, I think we've done enough to
Communicate and more importantly educate folks on what we're doing, right?
If you see that we're lagging if you see that we are not communicating something clearly
Please reach out to us reach out to your regional ambassador
Reach out to community members on our disk on our telegram and engage right and do so in a respectful manner, right?
I guess that's another thing that I would like to also point out right we want to
Be very crystal clear on what we want what we can do as
Long as we're driving value to the community and so now
Max one of your question how this is a crew on the protocol fees right and PDAO. So on May 1st, we will reset
That means it means that your MPDAO tokens are continued to we will they will continue to be locked
Right, and this is very important
understand the the underlying
Platform of the voting power it is a bond contract. Okay
Try to understand this and also if you have any questions raise your hand
Okay, so when you go into the meta boat and you decide to lock your tokens your governance tokens
It is a bonding contract. It is not a lockup contract
What's the difference a lockup contract means that if you lock your tokens for 30 days
That means that in 30 days they become on lock
Besting period or it will have some some sort of mechanism on how they become unlock
Our Dow our meta boat smart contract. It is a bonding contract
That means that if you lock them up for 30 days
If you decide that you want to unlock them
When you unlock them, that's when the 30 days start to
Apply to the unbonding period right I
Want to make that crystal clear again, right?
So the difference of a locking smart contract is that when you lock in a digital asset?
It is a time-based lock. That means that in 30 days will we become unlocked?
Our Dow governance smart contract meta boat. It is a bonding contract
When you locked it for 30 days
What you're you're basically creating a bond of 30 days and when you decide to unlock them
It will unbound those tokens and they will be available
Okay, so that means that for many of us that have locked our tokens for 300 days and
They will become unlocked
This is something that is very important for us because of course
Some of us that have locked our meta governance tokens for 300 days
We're committed to the success of the Dow
and by being committed means that we're voting and being active on the
On the Dow and for that we're getting paid and I'm gonna say this right?
We're getting paid handsomely for it, right and that's what's gonna happen on May 1st as well
we will be putting together a
boat and earn program that is
unlike anyone any other contract any Dow governance contract in the
Can't say more details on this. But the only thing that I can say right now is that
Where all those protocol fees are gonna go directly all the protocol fees from the second rewards are gonna go directly
So do the math there, right? So there's gonna be
stake and reward fees being distributed directly through governance participation
Not everything not everything is perfect. We understand that this system will require a few iterations for it to become really
Make make it a big impact. We believe that we're doing it right now by distributing all protocol fees back into the community a
Big issue here is how does it evolve right? How do we support?
Another blockchain in an other ecosystems in this case is aetherium
So we will be launching. Sorry, I'll stop right there max one. Did I answer did I answer your question or it was something unanswered?
Yes, loudly clear. Thank you
Thank you very much any any questions or it does anyone who wants to come up and ask question
please raise your hand and we'll surely bring you up just be mindful and
That this is being recorded and everything you say will be recorded
And so anyhow, just be mindful and respectful if anybody wants to come up, please by all means
Okay, I'll continue so now
As you see here, we're putting a lot of effort into
onboarding more ecosystems and this is something very important right now and and and it hit me just last night
I was as I was talking with Lucio
We are the only liquid staking token supporting
What one what the three that what we're seeing as three of the most
impactful blockchain protocols
In the industry, so we're the only LST that is on
So so let that sink in right
So we're definitely very bullish on all three ecosystems and we're gonna be onboarding a few more as well
I think that it's gonna be a really exciting year for for the meta pull-down and
It's participants and its members and it's cool and it and its collaborators. For example, right now we reach 13 more than 13,000 wallets
Holding st. Near st. Near tokens. So really excited about that, right?
That means that more people are being delegating that trend has been happening
Has never stopped out of the the full year that we've been building during the bear market
We've continued to grow and
In that sense, we are like really really proud of what the community has achieved
What the team has achieved and more importantly will the value that we've we've distributed to all to governance participants
So anyhow, just a shout out to every to each and every one of you that has made this possible
Okay, I'm gonna continue with multi-chain governance. So what does this what does it mean really?
And I'm gonna be very transparent here governance will stay on the near protocol, right?
That let let I'm gonna be very transparent on that one
Accrue most of the value from from our LST platform
they need to have access or be exposed to the near protocol network because that's where most of our TVL is and
That's where most of our protocol fees are being generated right now as well
and so what are we and so with this we took this into account and
So governance is going to stay on here
So we building right as of right now or we've been building for the last a month and a half. Well two months
What what is going to be our multi-chain governance framework so with this is
We've created a smart contract on the Ethereum side that is going to be communicating with our
Do a calculation of the voting power of the accrues accruing of the voting power
We sorry on May 1st, we will launch our multi-chain governance
What this means is that folks that on the near side that have migrated to MP Dow they will continue to accrue
If they use their voting power because we're gonna reset voting power on May 1st, we're gonna be minting
sorry half a billion or 500 million MP Dow tokens on near and
Half a billion of MP Dow tokens on on the Ethereum side. Okay
Very important the MP Dow tokens are gonna be native governance tokens
Now it's not gonna be a wrapped asset
Why have we decided not to go through a wrapped asset?
Because we've seen the issues happened or come up on if we rely on bridges, right?
Don't get me wrong. There's plenty of good teams out there building great technology, right? We have layer zero
We have wormhole right and there's a bunch of others
But let's be honest here. Those are smart contract risks that we're gonna put our community members through
We rather keep everything
This is most importantly for us under safe locking, right?
And this is something where we need to be
Transparent enough that yes, the upgrade ability of that smart contract is gonna be at the hands of the core team
This is done for security reasons, right?
We are will be held accountable for for for anything that happens to those to our governance tokens on the ETH and on the Ethereum side
right, I'm sorry on the ETH and on the near protocol side and so
We understand that this is something that you're gonna work
You will have to put your trust in us. I
Believe that for the last three three years that we've been building we build enough of a of a report with you
And we've been transparent enough that you will trust us with this decision
eventually, we will make a
Decentralization effort on that on that part as well on the upgrade ability of the of the of the
MPDAO smart contract on ETH and on near now
More importantly here. Yes, it's gonna be a multi-sig. So no worries about that, right? There's there's there's not gonna be a
single point of failure there now
What's gonna happen is on May 1st?
We're gonna mint half a billion on MPDAO tokens on near half a billion of MPDAO tokens on Ethereum
Then the next step is work on the minting is gonna happen on both sides
We will we will pre-mint of course on the on the near side during the migration process
But this is where why we need to reset the voting power on May 1st, right?
Since there's gonna be MPDAO tokens on the Ethereum side that we need to take into account
Then we need to restart the voting power. So on May 1st be on the lookout you will have
You won't have to lock up your smart con your your governance tokens. Those are continued to be locked
What you will have to do is start to vote again, right?
And so we will be putting forward a grant the MPDAO grants
And Francisco if you can pin the latest
The latest grants grantees recipients. So yes, it's MPDAO grants number seven, right?
There's gonna in and just a little bit of alpha there
There is gonna be the accruing protocol fees from
Right are gonna be compounded into the next and also may and also may yes
Are gonna be compounding into the MPDAO grants number seven
So for those of you that are building I would really suggest for you to have a look at how you can
Solicit a or request a grant talk to past grantees as well
crypto crypto rail is one of them then we have who else has
Of course some of our a sky Empire max one. They have been recipients of grants as well gem as well. So
Please reach out to them ask questions. I believe that there's gonna be a lot of
Opportunities there for folks to have access to this to this funds and
It's multi chain, right? It's not we're gonna be supporting every all projects on the protocols
We support cue Solana near ethereum Aurora
Just make sure you you are lying to any of those protocols and you can have access
To the you can make a proposal for grants for a grant from the MPDAO. So anyhow
This is very very important, right?
If you are not using voting power your voting power, you will not accrue the protocol fees
As I told you coming me first
Make public the amount of allocation of protocol fees, right?
You can do that calculation by yourself by yourselves as well. Just by the sheer amount of
the protocol fees being accrued
There's a public link. Let me let me send it a try to tweet it to you on the
Hold on a second. Let me see if I can get this
Here it is here it is and how do I respond this? Okay
Post this and this is the
Information for medical now
I just posted it publicly so you can just
Maybe I'll try to repost it. I'm to put pin it right here. Hold on second. Give me one quick minute
And I'll make sure you you guys can can guys and gals can see it
For me one of the most important things here is for folks to have
Access to information so you can make educated guess educated educated
Decisions, right? Oh, here you go and
There you go. I just share it there. So hopefully it's gonna look. Oh
I think I just posted it. Okay, I'm not sorry. I'm not a Twitter power user
Oh, it's strange share post medical space, but I didn't I'm not allowed to pin it
I don't know if you can pin it
The tweet that I just posted but anyhow, that's right there. You can see it on my profile. So anyhow
Okay, there you go. This is public on chain information for medical now. Okay, perfect
So you can see there the amount of a protocol fees were accruing on all chains the TVL and whatnot
So you can make a really really good good analysis on on our performance
If you see any information that you would like to make public there as well, please do
Send us feed send us feedback and then we can get on it as well now
We're talking about and just to reset the room for those folks and you coming in we're talking about the tokenomics reset
That's gonna happen for MPDAO the RMP DAO token
all we're gonna mint half a billion tokens in near half a billion tokens in MPDAO on ETH and then
So that so it will be public right on May 15
around that time second or third week of May we will
Create a liquidity swap pool on a DEX on Ethereum
We're still deciding if it's that's gonna be uni swap. It's gonna be sushi swap
We will need to discuss that and just try to understand where we can get more exposure
And and more importantly for folks to have access to it as well on a reliable DEX
This is another important aspect that we need to put forward we will be allocating around
MPDAO tokens on that on that DEX
We're still trying to decide the the pairing if it's gonna be USDC or USDT
Then that's gonna give folks access to the MPDAO to the native
Governance token on Ethereum for the metapool DAO, which is gonna be called MPDAO
So we will we will share with you more information as we go by
More importantly, it is something that will reflect reflect the value that we're putting back
Into the ecosystem and more importantly to governance participants
Yes, and this is something that I want to acknowledge it is important that near protocol users
Are gonna have a little bit of a heads up there
Because they're gonna be accruing most of the protocol fees during that month
but we believe that that's a
An advantage we want to give to those folks that have been committed to the MPDAO token
To the MPDAO governance since the beginning right since this since last year when we were building on a bear market
And even of those that have stayed with us all the way from 2021
There's been a few of you that have done done that so and so
We with this we will answer the question. Hey, how do we get access to the MPDAO token on
We will also we will also create a a liquidity swap pull on refinance
That will surely start I believe by by the end of that month
So we really want to do this like a step forward. We are gonna give of course
Native governance participants a little bit of a head start
Before May 15 to have access to the MPDAO tokens
MPDAO's MPDAO tokens become unlocked
That means that and this is very important if you have MPDAO tokens that are not accruing voting power
MPDAO tokens that have been migrated or
That want to be migrated will need to be locked
So I'm gonna go back a little bit. So for those folks that have meta on their wallet right now
Which has not been locked
For any amount of period or the least amount is 30 days
They will not be able to be migrated
We will not be migrating meta governance tokens that are not that are not participating on the governance, right?
I think this is fair because at the end of the day
Holding the governance token just to hold it does not make any sense at all
We're not building this for people to hold the tokens
We're building this for folks
individuals and organizations
in the meta pulled out governance
People that want to speculate with our token
Want people that want to accrue value through it? That's fine
contributing to the value it creates
See here storm storm Z Eve
You I've never seen you before very important. I'm gonna allow you to come in
Okay, did he just drop out I
Okay, no harm. No foul, right?
I'm just I just want to be clear, right? We're not
And this is just just to lay the groundwork for everybody. I'm we're not taking shit from no one
We've worked really really hard on this, right?
And we're not perfect. I'm not saying that we're experts
We want to build something that is driving value for users
We are open to being for your feedback and for your comments
As long as they're respectful and more importantly that they drive value that you're seeing it through the community member size
Okay, so anyhow, I didn't mean to scare
To scare anyone but just wanna just wanna lay lay lay lay lay it all on the table, right?
I'm a I'm an OBS kind of guy. And so anyhow, if you find that a little bit rude
I apologize, but it's just I'm mindful of everybody's time here and why they're here. So Max maxi
Thank you very much for coming in mate. I really appreciate you coming in here
Maxi was is also one of the grantee recipients
So if you want to paint him as well
Go ahead and and I think it's gonna be something really really important for you to get feedback
Cryptoreo as well has received a grant. It is a grantee from the MPDAO. So anyhow
Glad to to come for it for you folks coming in. So anyhow, so where were we?
Okay, so we will be taking a step-by-step process into allowing folks to get access to the MPDAO governance token
Right, we're not building this for people just to hold the token or another important
Aspect here if you hold the token only hold the token you will not get protocol fees, right?
that's not part of the token that the tokenomics behind it how it works is
You have MPDAO tokens either on the Ethereum on the near side
You lock it up and this is very important. The locking period is a bonding contract, right?
So you're gonna lock it for 330 or 300 days if you lock it for 30 days
You're accruing but one voting power per MPDAO token you hold if you lock it for 300 days
You're accruing five voting power for every MPDAO token you hold
Now it is a bonding contract. That means that when you try when you acknowledge that you want to
Unbonding period starts which is the amount of time that you decided to lock
So if you decided for it to be 30 days and for example, you decide to unlock right now March 20th
That means that they will become unlocked on April 20th
another important factor here is
Long-term committed to the value creation of the DAO
Now I'm gonna explain that back again
There's one million of voting power being put there, okay
And I'm gonna do it on one-on-one
There's one million voting power being used on all tokens on all governance tokens. Okay, and
A hundred million I'm gonna put a hundred million and then you have a hundred million voting power and then you have one million in voting power
That means that you have one percent of all the protocol fees
Which let's say that it's
One million dollars that's being distributed in protocol fees, so that means that you have one percent through that voting power
$10,000 per month right in thousand and let's say yeah, let's let's put in dollars. So it's more easier, right? So it's
$10,000 if you decide to unlock or on bond
That means that on the next cycle, right?
because the voting power is eliminated from that account and
Pulled from all of the voting positions that you did
This is what it is, right?
What this creates it that it create it does create a
replace that voting power and
allocate those protocol fees to those different accounts or to just one account that is gonna be coming in with 1 million in voting power
So it is gonna create some really interesting dynamics around
Who is unlocking when they are unlocking?
Folks that are a little bit more analytic on this side
Will have a little bit of an edge to understand when some of the big
Accounts are gonna start to unlock and then that voting power is basically not
Not being used anymore. And so there's gonna be some really good good opportunities there
We will try to create the necessary means for folks to
Understand how voting power works and then also a very transparent dashboard
So people can see and and and really have something that they can make decisions as well, right?
Now I'm gonna stop right there. I know I don't know if there's any questions any comments, please feel feel feel free to raise your hands
Thank you very much Blaze for coming in here much appreciated my friend all of their support during all this three years
We've been building man really appreciate it. Hey Starlink. Nice to see you here, man. Are you at him as well?
Nedler nice to see you down down as well from former community members
No questions max one. Do you have any questions or any comments?
No, I see you hear a couple of comments from spammers but also from Matt day
Yeah, we're gonna have a tutors. Yes. Hello
Yeah, okay. Thank you. I have one I have a one question one more question about the
Look for three days ahead and then if our looking better this ends is I want to unbending
So I need to the next three days. Sorry three hundred days
Waiting period to be freely unlocked the token
So I'll answer that question Nedler you
Francisco can you approve Nedler? Just be mindful. Just be mindful respectful to everyone here near the ladder and you can come in
Yes, so the the on bonding period right so how it works is basically
Yes, like you said if you shoot if you choose 300 days to for the lockup period
That means that at at the point in time when you're signing for that
It will be 300 days more. So let's say right now
That you put March 20th, right?
And so that means that you will unlock in period your unlock tokens will come in at around I think
January 20th more so or less of
And I'm not gonna say sad part because this is just the for I believe the
The fair the fair way right if you're locking for 300 days
That means that you're accruing a lot of protocol fees
And now if you choose to unlock them
It means it is for two reasons at least one from my perspective
And I want to hear Ned lot in maximums perspective on this
Sorry, I was late. I was not with you. I was I was doing something. I want to ask a question and
I would like to say I'm mistaken. Oh
With the metapoo that was last year's in October September. I
Don't know. I just click on the link and I make something of that
Validation and I I buy a little of the metapoo and I also lock it up
So with me the person like this what how am I going to get my things back?
If you go right now to the the the tweet that we just linked
You'll see the process that it's good. We're gonna go through
Yes, you and this is very important and a large you ask a very important one
you ask a very important question and the underlying answer is all
Your tokens that you have or that you interact with the medical Dow are
We do not have control over your assets. That means that we cannot move them
The contract the locking contract in order for it to become unlock
You will need to sign with your private key in order to start the unlocking period
Right and even for that means that you can move them
So that's very important and and and folks very very important. We will never never ever ask for your private keys
Right from any of us and I know there's been a lot of spammers with my account on
On on on telegram that I'm aware of if there's some on Twitter, please do not do not engage with that account
I will never never DM you for your private keys or ask you to click on any links at all
Why is that because you will always have control over your assets. Thank you very much. No, they love and so
This is this is a very very important aspect there, right?
All of the systems and software that we build are non-custodial
You will always have to sign all transactions in order for the smart contract to interact with your tokens
Very important here. And this is what was coming to your question, right?
Somebody that has committed for 300 days and that has a crew a ton of value from the protocol and then decides to unlock
It means two things one that yes, maybe there's price action on the governance token and they want to get out. That's fine
But if they want to get out then
It needs to there needs to be a balance, right? You cannot have your your your your your
both both ways right in accruing the maximum amount of protocol fees and then get a
Get out of the of the governance because of price action, right? I do understand and that's fine
Like everybody will make its own decisions
But it's not going to be at the expenses of the Dow
If you're willing to go out in 300 days by all means
There will be somebody else that wants to come in and replace that boating power
Because if we if this works and we continue to accrue value for the ecosystem
There's gonna be a lot of takers on that, right?
There's gonna be a lot of people that would like to get access to that
To that those those boating power positions that you just have left
right, and now is it is it fair for you that
During that unlocking period you continue to accrue the
There's some ideas that we have right? Why is it so black and white at the moment?
It's the easiest way for us to one build it and second communicate it as well
Yes, you'll say hey cloudio or the hey metaphor down
And this is very open for folks to come in with some interesting and medical improvement proposals, right?
like there should be kind of like a an intermediate way right where you're saying hey, I just want to
Unlock certain positions or x y c or reduce my
My unlocking period x y c and continue to accrue. We have sure there's a lot of ways
But and this is very important right now. The best way to do it is for it to be very
One and zero right very black and white you're either in or you're either out
And and more importantly if you want out and you maximize your exposure to the protocol fees
Then you will leave that that that exposure open for somebody else to come in and I believe that's the
First way to do it. I don't know if there's any any question or comments here from from anybody
We're coming up on time. Sorry. Sorry that that I took a little bit more of your time
But I think it's been it's been a good good conversation here with max one and Nedler
Thank you very much for coming in here folks
And you have any questions, please reach out to us on Twitter or maybe telegram or discord
Whatever is your your medium of communication happy to discuss it and more importantly
Really looking forward to everybody being and be being part of the Dow and participating with their voting and their proposals as well
So anyhow folks you stay safe
I'm we're gonna go out in about one minute. I don't know max one Nedler any last comments before we wrap up
No, please I'm okay. Thank you very much. Thank you
Okay think maxi wants to come up Francisco, can you approve them? I don't know why my my other you go
Claudio hi team. Thanks for the space
I just wanted to invite everyone anyone that wants to listen to this talk or something similar in Spanish next Tuesday
I'm gonna be with the medical team in my space. So please welcome
Tuesday 12 p.m. And Mexico time. Thanks. I love what you guys are doing
Thank you very much to maxi you have a good one stay safe folks
We're about to leave stay safe and have a great Wednesday everybody. Good evening. Good night
Then good morning. Cheers. Bye. Bye