GameFi platform MOBOX has announced the $MDBL Liquidity Yield Program following a fair launch of the token, with the first stage set to start on Tuesday, April 23rd.

Program Details

The program is said to give the community a chance to support Dragonverse Neo by claiming, trading and participating in the program. Divided into stages and done on a rolling basis, users are set to receive daily rewards for their participation, with rewards changing in each stage of the program based on factors such as ecosystem and market conditions.

Stage 1 begins on April 23rd at 12 PM UTC and will last for a month, ending on May 23rd at 8 AM UTC. The start time represents the same time for the token’s DEX listing and token claiming, including post-LBP airdrop claims.

How It Works

Users will be able to provide liquidity by converting $MDBL tokens to eMDBL at a 1:1 ratio, earning daily rewards distributed in eMDBL. A snapshot is taken every day at 8 AM UTC to determine daily rewards. Claiming eMDBL rewards will have to be done manually, and if you claim them before the snapshot time, the announcement states that they will be part of the rewards calculation for the next day.

Participants can get a Boost Rate by holding Dragon Balls or MODragon NFTs, with the buffs varying based on MODragon hash rate and the number of Dragon Balls.

Rewards are calculated based on the number of eMDBL you have and the total amount of daily rewards available. The higher eMDBL you have, the higher tier/level you are placed in, leading to bigger rewards.

Redeeming eMDBL

Users who want to redeem their eMDBL to $MDBL will have to undergo a Cooldown Period which limits the percentage of eMDBL you can redeem. Users who want to redeem after 15 days will be able to get 25% of $MDBL tokens, while those wait 30 days can get 35%. Waiting 60 days gets you a 50% redeemable rate, while 120 days lets you get 100% of the tokens.

Stage 2 Plans

For the second stage, MOBOX is planning on introducing new rewards that include MODragon Eggs, tradable REALM Passes and external rewards such as $MERL.

Earlier this month, MOBOX celebrated its 3rd anniversary with sustainability updates and plenty of rewards.