As I was saying one of the past days, Mobox is a platform with potential, and many 'old guard' people are using it now, as it can work like a self sustaining source of income. On top of all these, their NFT prices are at all time low. Mobox team is a team that previously developed Chainzarena game on Tron network, and I must admit that I liked that game, when they had enough time to work on it. Chainzarena was one the first ever to successfully cross blockchain (ETH, TRON, EOS) and cross platform idle RPG game. It has been launched April 24th 2020.Lately, I think they use most of their resources for Mobox.io on BSC, even if they are still improving it now and then. I will add a resume of my post, as a video guide, at the end of the article.
So, what is Mobox? Mobox.io is a platform using games and NFT related to those games, in order to provide income. They are based on the Binance Smart Chain and they use two different tokens. One is called Mobox (MBOX), it is the token mined using NFTs, the second one is called Key (KEY), and it is rewarded if you provide liquidity. One full token - 1 KEY, can be used to buy a box, which once open can reward you with a NFT, which in exchange can be used to mine more MBOX, which can be used to provide liquidity, which in return will reward you more KEY. Did you get it?
No problem, and now I will take you step by step through the process.
Step 1. Get some NFTs. There are two possible strategies to be used. The simple one is to log in using your BSC account (Metamask works fine) and to use some BUSD to start buying mining NFTs. Second way is to provide liquidity on one of they many pools ( they got simple pools like BNB, USDC, USDT, BUSD and pairs LP pools like MBOX-BNB, BTCST-BNB, ETH-BNB, BUSD-BNB, USDT-BNB, USDT-BUSD, DAI-BUSD, USDC-BUSD). The single pools are to be deposited on the Mobox platform, the LP pools are the ones from PancakeSwap. I need to want you that they have a penalty scheme in place, to prevent bad actors to mess with the system. Depending on how long you keep the crypto in their pools, you will pay a fee when withdraw it, and the fee is smaller and smaller the longer you keep it in there.
Given the rewards level, I deem effective to keep it at least 31 days. Once you got the NFTs, you can check on My Momo page, click on it, and select Stake, Once staking is activated, you start to mine Mobox (MBOX) and as long as the promotion is active, you can also mine BANANA (which can be used on Apeswap to farm on their pools), but the quantity is quite small, if your mining power is not really really high.
Step 2. Once your Momos (their mining NFTs) are mining, you need to check their Mining Camp, and claim your crypto from time to time. I try to do it weekly, unless the price is up. The easy way would be for you to exchange MBOX into BUSD and buy other Momos right away. The long term way (that is use) is to set up similar intervals (let's say 5 days, and on interval 1 - days 1-5, to exchange MBOX for BNB, interval 2 - days 6-10, to get the MBOX, and on day 10 to provide liquidity using both MBOX and BNB - see the video at the end on how to do it) and the intervals can be longer than mine if you want to save on BNB fees.
Step 3. Bonuses. Once you learn the game mechanics, there are multiple ways to rig the system in your favor, in order to mine more efficiently. For example, there are all kind of bonuses, like some bonuses activated when you have a certain amount of Rare, Epic or Legendary Momos, but these ones are not as important as the fixed bonus hash. You can see in the picture bellow how I got an extra 2% because I have 5 Rare Momos.
So, back to the bonus hash. The Momos can be used to complete a collection, where you have a crew of four NFT (Common, Uncommon, Unique and Rare) and for every crew you have you will receive 100 Hash Power Bonus (around 3 MBOX mined daily). Word of advice, if you want to make a crew, first buy the most expensive one, as their prices range from 200 to 20.000 BUSD. The remaining 3 NFTs needed to complete the crew will cost ONLY between 8-20 BUSD (As per 22.06.2021). On My Momo tab, click on collection and you can see all of them. As you can see I locked my full collections so I will not sell them by mistake
Another way to increase the Mining Power is by upgrading the Rare, Epic and Legendary Momos that you own, using cheap, common and uncommon ones that you will burn in order to level up the better ones. The upgraded Momos increase their mining power quite easily, and this is a great move when common and uncommon NFTs are cheap. As you can see, one of mine is over 100 mining power at level 4, and I have burned 4 common and 2 uncommon to get there, with a total cost of 96 BUSD. Right now if will cost you around 300 BUSD to create a crew and get the 100 mining power bonus, so, as you can see, depends on the market. I estimate it will take between 40 and 60 days to recover your initial investment, after you buy a Momo. Can be less if you are providing liquidity, and I will explain this in the next step.
Step 4. That was the mining bit. Now I will talk about providing liquidity. If you click on Crates page, you can see all the pools there. As I believe that the value of the MBOX will increase in the next bull market, I choose not to sell it and I am using it to provide liquidity instead. Providing liquidity is paying a nice 295% APY right now for MBOX/BNB and rewards you KEY tokens that you can use to open chests and get more Momos on top of that. You can improve your mining rate boosting it up to x8 times more, buy using the veMBOX staking (veMBOX is used right now to provide farming boosts, but they promised future benefits as the platform will be improved, see boost button next to deposit and withdraw).
Basically, this is the guide for NFT staking and liquidity providing. If you have other questions, feel free to ask in the Comments area. Mobox.io platform is quite complex when you start, but easy to use once you get used to it. This video is an example of what I was explaining, and you can watch it as many times as you need, all the steps are included.
And, because I care about all my readers, I will overdeliver as usually. Right now there is a CoinmarketCap contest, where you learn about MBOX and get rewarded 1 KEY if you answer correctly to all the questions. Remember, 1 Key means you can 1 Chest and get a free MOMO, so you can start your mining without paying nothing. Good luck. I can tell you in advance, as I closely follow the team updates. Do not rush, the contest starts on 23.06.2021 at 12.00. Good luck!
That's all for today,
Meanwhile, why not...
...get the higher rewards for your investments using Blockfi and Celsius.network. Get ETH while writing on Publish0x blog, using Presearch search engine to maximize your income with PRE tokens. Check my Lbry.tv channel in here and use Torum instead of Twitter . I am also writing on Read.cash.