Combining the best of DeFi Yield Farming and Gaming NFTs creating a free to play and play to earn ecosystem
All questions answered by Sam
Lola (AMA HOST): Can I have the team member of MOBOX say hi?
Sam: Hello all! Pleasure to be here!
Lola (AMA HOST): Hello. Welcome to BSC News. Good to have you here with us
Sam: Pleasure to be here! Thank you for having me : )
Lola (AMA HOST): Hope you’re doing good.
Sam: I’m doing great!
Lola (AMA HOST): First session starting now. Please type ‘done’when you are through with a particular question. Thanks.
Sam: done
haha joking
: )
Lola (AMA HOST): Haha. No problem
Q1. Can you give us a general introduction of you and Mobox Could you tell us your role in the project?
Sam: Again, thank you for having me here today! Hope everyone is doing well!
My name is Sam, part of the MOBOX.io team, a new platform that combines the best of DeFi Yield Farming with Gaming NFTs.
The team has been in the mobile gaming industry for close to 10 years, and we’ve been buildling dapps for almost 4 years.
The first dapp we built was a game called Ether Online, back then in the crypto kitty days. We then moved on to the TRON blockchain and built one of the most well-known dapps at that time. We also had the opportunity to launch on Binance Launchpad with that dapp, with Smart Contracts handling over 4 billion dollars.
Now a little bit about MOBOX. As mentioned above, we combine the best of DeFi Yield Farming with Gaming NFTs on the Binance Smart Chain. Our goal is to create a truly free to play and play to earn ecosystem. So for those gamers out there, instead of spending hundreds and even thousnands of dollars recharging into a game, with the emmergence of DeFi, we have created a system where you simply stake and earn in-game resources including NFTs.
We’ve launched for roughly 3 weeks now and have already reached some amazing milestones
TVL: 250,000,000
NFTs minted: 100,000
NFTs trade volume: over 25,000,000
The way the platform works is quite simple for those who are already use to yield farming. I think images make it easier to understand
Basically users stake their LPs or stablecoins, our Smart Contracts yield farm for them and at the same time they can farm KEYs a BEP20 token. The KEYs can then by used to unlock a chest that contains a unique NFT.
Each NFT has a Hash Power and can be upgraded, it can then be staked to farm our platform token MBOX.
Most importantly, these NFTs can be used across the whole platform which includes 3 games that we are looking to launch this year, showing true NFT interoperability, meaning one unique NFT having more than 1 use case.
Lola (AMA HOST): Wow! This is really impressive.
Sam: We’ve been pretty amazed by the community support as well! It’s been a great journey so far! A lot more to come : )
Lola (AMA HOST): Having great experience and being innovative. You really deserve an accolades 👏
Sure. 😊
Sam: Thank you : ) I think thats a big issue with the ecosystem right now because there are lots of copy and paste. We like to add value to whats out there, not compete, and hopefully be innovative where everyone can benefit one way or another.
Q2. How many team members do you have working with you? And can you also tell us their roles?
Sam: We’ve kept our teams quite small, as we believe in quality over quantity. From when we started building dapps with Ether Online, we had 7 members, moving to the TRON DApp that launched on Binance Smart Chain we increased to 14 members. And now with the innovative Gaming NFT platform MOBOX.io we have increased our team to 27 members.
Out of the 27 members, we have 20 that are developers with the others taking care of Operations, Marketing, HR etc.
We also have a chef (An actual chef) that cooks lunch and dinner for the team : )
Our team comes from all different regions of the world, from Australia, Canada, Hong Kong, Korea etc. We believe this to be important because blockchain is still in its infancy so the audience is quite small compared to what we are use to with traditional mobile gaming.
So I’ve noticed that one reason why some projects fail, is they fail to capture the whole audience, and only focusing on a specific region. In my experience it is impossible to be successful with a dapp if you cannot cover all regions and cultures. This is one aspect of our team that I believe we have a slight advantage over others.
Of course, other than being able to develop innovative and disruptive technology which we’ve shown over and over again.
Personally my role, is co-founder of the company. So basically I don’t do much : ) haha
Lola (AMA HOST): Haha.
Hope I’ll be getting lunch today too 😅
Expecting my lunch.
Sam: haha will let the chef know : )
Lola (AMA HOST): But you still oversee
That’s good. Keep the good work!
Sam: haha thank you : )
Lola (AMA HOST):
😊😊👍
Q3. In your Telegram Group I came about Mobox staking boost. Can you tell us what it’s about?
Sam: Ah yes, so the MOBOX staking boost is different than most DeFi single token farms that you see out there.
The way the MOBOX Staking BOOST works is that users have the choice to Stake a certain amount MBOX tokens for a certain period of time – they will then be given a score for this. And depending on the score that they recieve they will a MAX farming boost of 3x, which gives them 3X the weighted average they have in a certain pool.
So as an example,
Let’s say Ivan staked enough MBOX tokens for a 3X boost and currently has his LPs in the MBOX/BNB pool making up a total of 1% of the whole pool. And lets say other users don’t stake enough MBOX to recieve the boost.
Now Ivan instead of owning 1% of the pool, now will own 3% of the pool giving him more farming power, allowing him to farm more KEY tokens used to unlock Chests for unique NFTs.
Its quite a different system then most users have out there, but we believe that with this system those who actually use the ecosystem are rewarded fairly. While those who don’t actualy use the ecosystem can still earn, but will be at a slight disadvantage.
Our platform is built on the notion that those who spend time, energy, etc should be rewarded fairly and we believe this system does just that, while also locking up as many MBOX tokens as possible, staking them from circulation.
Which means, although you’ve removed some MBOX from Circulation – you are rewarded for it : )
Q4. Can you tell us about how Mobox (Gaming and Finance) works?
Sam: So as explained above we take the best of DeFi Yield Farming and combine it with our experience in Gaming NFTs. We are not here to compete, we are not here to copy and paste, BUT we are here to add value to the current DeFi ecosystem on the Binance Smart Chain.
The Finance part is simple, yield farming through great platforms like Pancake Swap and Venus. BUT that is not the core of our platform.
Unlike most platforms out there that create another AMM with a copy and paste of PCS from github we didn’t look to build our own.
Instead we integrated PancakeSwap into our platform, only for 1 reason. To make onboarding gamers to the blockchain ecosystem easier. This way a new user who just starts out with dapps wont’ need to jump from platform to platform just to invest their tokens. Users will ALWAYS choose the path of least resistance, and we hope to create this path.
This is also why we decided to build our own wallet plugin and mobile app – so that we can control the flow of onboarding users, making it as easy as possible.
The biggest issue to DApp adoption is the higher barrier to entry, and we hope that we can take this step by step and lower this barrier.
For the Gaming part, thats where our experience comes into play. We’ve had the experience of buildling multi-million dollar games and understand what it means to make a game fun and enjoyable. Now with the emergence of blockchain and DeFi we dont’ only just make games fun and enjoyable we also make it a way to earn an income.
So far our users have been having fun yield farming and opening up unique MOMO NFTs
This is a tweet we had on the 6th day of launch. We already had 7,500,000 in NFTs traded – with one of the highest selling for 70,000 BUSD
This is just the beginning of our Free to Play and Play to Earn ecosystem : )
Lola (AMA HOST): I love your creativity I must say. It really shows you know what you’re doing and you’re capable to do it.
Sam: I’m just glad we’ve been given the opportunity to innovate. we actually had our alpha test on Ethereum
and right after the Alpha test we decided it is impossible to create a system for everyone due to the high gas fees
Q5. What are the benefits or Reward in Mobox?
Sam: so we should all thank Binance Smart Chain… for being Binance Smart Chain
Lola (AMA HOST): Haha. Yea
Sam: So rather than talking about the benefits or rewards of the MBOX token, I think it’d make more sense to talk about the utility of the token.
Let’s talk a little bit about the tokenomics.
Total tokens : 1,000,000,000
Distributed and released over a 5 year period, with it diminishing after every subsequent year.
20% for devs
51% for the community
and the rest of some marketing and strategic partners, and community contributors.
The MBOX token can be earned through staking MOMO NFTs on our platform and also through playing and enjoying games that will be laucnhed on our platform.
Where can MBOX tokens be used?
All in-game transactions will require MBOX tokens – which also feeds into the Free to Play and Play to Earn concept.
You mine MBOX tokens with your NFTs that you get from staking your LPs —-> You then use those tokens through the games – which at the end of the day all get burnt.
We also have a unique auto buyback and burn system – where platform revenue is put into an auto buyback and burn pool – this pool will calculate the average price of MBOX in the previous 72 hours, and will auto buyback and certain amount whenever it drops below the 72 hour average.
We just released system and have been testing it. We will be optimizing it as time goes on.
Now if we talk about the platform and the benefits of the platform —- I think this can be understood in just a few sentences.
This is the only added value platform that allows users to Have fun and earn at the same time while showing the true uniqueness and interoperability of NFTs.
No matter if you are a collector an investor or a gamer – there is something for you on the MOBOX platform
Q6. How many Partners do you have? And what do you expect from them?
Sam: So this is where I have to emphasize one very important aspect of the MOBOX platform.
The MOBOX platform had a FAIR LAUNCH！ What does that mean? that means NO SEED ROUND, NO PRE-MINE, NO PRE-TVL.
Given this we didn’t start with any partners although we were approached by some industry veterans that wanted to invest. But we felt that would be the wrong decision. why? Most of these investors look for a quick buck. They purchase your tokens, they look for a quick 5x and dump on the community. THIS IS ABSOLUTELY NOT THE WAY WE DO THINGS.
We are a long term project and this is just the beginning for us.
With that said though…
After launch we have been seeking strategic partners – these partners include those who are in the Binance Smart Chain ecosystem and those who are not.
We’ve been talking to a few, but especially one that we are looking forward to work with. But its not that simple… Why do I say that?
Like we’ve shown above we are looking to innovate – not just do what everyone else is doing —- So the way we are working with our partners is quite different than what has been done already. So it takes a bit more time to put the pieces together.
But so far the talks with these partners have been going smoothly : )
That’s all I can say for now : )
Q7. Can you tell us about the Transaction fees in Mobox since it’s also about Finance?
Sam: Great question! Now this goes back to what I said above. WE ARE NOT HERE TO COMPETE. We built MOBOX platform with the goal of adding value to the ecosystem!
Yes we have a DeFi aspect to our platform, we have an AMM in our platform, you can add liquidity, you can swap etc. BUT THIS IS NOT OUR OWN SYSTEM – We do not have to re-invent the wheel, when the wheel was already built so well —- i.e PancakeSwap.
So most of the “Finance” features you see on our platform is a direct integration of Pancake Swap – The fees that happen when you Swap are PancakeSwap fees and in no way do we take any of it. So it use to be 0.2%, but after the migration I believe it is now 0.25% (oh my the migration….) —— Turned out to be good for everyone haha
So when you add liquidity from the MOBOX platform – you are directly adding that to PCS V2
The only fees that we take, is a small withdrawal fee that is waived depending on how long you stake for —— and a fee that is taken when NFTs are traded ——
BUT
Most of this goes into the auto buyback and burn pool, which is used to buyback MBOX token on PancakeSwap
Which means in the end it is again going back to the supportive community
Q8. Can you share with our community the plans you and your project have for this year and the coming years?
Sam: So Lets begin with this year.
In the coming weeks the community can expect to see the following
1. MBOX BOOST stake pool
2. Gem System (using BRC1155 standard NFT)
3. The first MOMO game called MOMO: Token Master
here are some UI images of the upcoming Token Master game – a PvP battler where users can win MBOX tokens
We’ve also created a very unique system where users can Lend out their MOMO NFTs to other users
and earn passive income on that while also mining MBOX tokens —— AGAIN SHOWING TRUE INTEROPERABILITY
Oh I forgot to add, we will also be introducing the fameddd…….. LEGENDARY MOMO NFTs
For the rest of the year, it will be working with more strategic partners to increase the ecosystem and where the NFTs can be used —
We have 3 games planned for this year
While also onboarding artists and game developers to build for the platform
Lola (AMA HOST): Wow! A lot coming up.
Sam: lastly, we will be revamping our mobile app – to create a truly cross platform platform
Q9. What are the major challenges of Mobox and how do you intend to solve them?
Sam: I think the major challenge for MOBOX is how to target the audience that we are after. Of course the blockchain and crypto audience is important – but that isn’t our main goal.
Our main goal is to capture the traditional gaming audience and introduce to them the power of blockchain and NFTs, and what it means to be true free to play and play to earn.
Why is this hard?
Because the barrier to that audeince is too high – due to the difficulty with getting started with Dapps
wallets, private keys, getting your first crypto etc.
Again we need to create the path of least resistance for users
creating this path will be tough, but we are putting the pieces together
for example
Lots of dapps depend on third party wallets – but for any dapp you need a wallet and web 3 browser – but if you depend on a third party then you can’t control your own onbaording process
this is exactly why we decided to use time to build our own wallet – so we can control this process and bring MOBOX and free to play and play to earn to the masses
but it will for sure take a lot of energy and time
But we are ready for this task and hopefully we can be the first ones to break this barrier : )
Lola (AMA HOST): Sure. 😊👍
Q10. Share with us all the links about Mobox, so that readers can find out more and also follow the development of the project.
Sam: More than happy too : )
THE PLATFORM Free to Play Play to Earn
More info check out our lightpaper
Join our amazing : ) community
Keep up to date with twitter
Want to learn more about NFTs? Check out this AMAZING MUSIC VIDEO
TRUST ME! YOU WON’T BE ABLE TO STOP LISTENING TO IT : )
i’m actually listening to the music video right now hahaha
Lola (AMA HOST): Haha. Just checked it out. It’s really nice. ☺️
Sam: haha catchy right? so much easier to learn about NFTs with a great song hahaha
Q11. Lastly our favourite question, do you have any alpha or juicy news for us in BSC News today?
Sam: haha I can’t give out too much information – coz i really don’t like to schill…
All I can say is… the best is yet to come : ） The journey just begun.
oops forgot to say done
Lola (AMA HOST): Haha. That’s wise 😅
What a great session.
Thank you Sam. It was a really Nice AMA😊
Sam: Thank you for having me : )
Source : bsc.news
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