AMA — Transcript 19/04/2021
Below is the transcript of the AMA ( Ask me Anything ) held in the Telegram Room of mobox.io held on 19th April 2021.
For those of you who have missed the AMA, you can read the transcript below.
Intro from Soon:
some of you know me, some of you don’t. Either way, let me give a quick intro.
We are the developers of MOBOX.io which is our newest and most exciting project yet. We’ve been developing dapps for almost 4 years now and have been working with NFTs for quite some time.
We also had the opportunity to have one of our dapps on the Binance Launchpad roughly 2 years ago.
So we have a lot of experience in this field and looking to bring DeFi and NFTs together where we can make free to play and play to earn a reality.
the eternal question that gets asked all the time “ when buyback and burn” when are we going to activate the smart contract to do its thing :)?
Glad you asked! Great news!
We will be launching the auto buyback and burn function this week.
Tomorrow we will start calculating 72 hours price average, and by Friday the first buyback will happen. let me give you guys an idea of how it works….
So we have a system in place where most profit from the platform goes into a buyback and burn pool. This pool will continue to accumulate funds that will be used to buy back and burn MBOX tokens. We will calculate the price of MBOX over a 72 hour period, and whenever it dips below that price the system will trigger a buyback. The buyback happens a max of 96 times a day, with the max buyback each time it's triggered of 100 BUSD.
The reason why it's done this way is to ensure that some users or bots cannot game the system the amount being bought back will be random. given this, on a per-day basis, the max buyback amount will be 9600 BUSD.
The burn will take place manually and will happen roughly once a month. To ensure full transparency, each buyback and burn transaction will be shown on the platform.
Here you can see the buyback pool is almost at 1,300,000 BUSD. So I’m glad you asked that question first haha, gives us a good start lol
Question: Well to be honest with you I am glad it will get kick-started in the next few days, so we don’t have to constantly answer the same question “ when buyback” hehe
The next question that also gets asked a lot, can we stake MBOX.
so question is, can we stake MBOX only, and if so when can we stake it?
So yes, there will be MBOX staking pool, but it will work a little differently than what most of you are used to. the way the MBOX pool will work is that it will be a booster pool, meaning that by staking MBOX you can boost your weighted average for your relative pool. The way it works is the users can choose how much MBOX to stake and for how long, you will then receive what we call veMBOX in return. This will be used to calculate how big of a boost you will get, with the max boost being 3X. again, just to be clear, this doesn’t mean that you will get 3X the rewards. this means that your weighted average will be given a boosted weight.
the veMBOX token cannot be traded, but can also be used for other functions on the platform.
This includes giving you extra attempts in Trade Action as well as Voting rights for everything MOBOX platform : )
This is quite a complicated system, and we hope to have this out soon.
Question: ok so we have ticked off 2 questions that get asked a lot, and the 3rd question is.
When is the next game, and what will it be?
Answer: Exciting question!
The first game is scheduled to be launched by May 20th, 2021. The name of the game? MOMO: Token Master!
This is the first game where all your MOMOs can be used in. To ensure that everyone can have fun, whether you’re a pro gamer or not, we made the game so it's easy to pick, hard to put down, and fun and exciting at every stage. It will be mainly PvP based with the main goal of the game being — — who can collect the most Tokens (Gold coins). The game will be set in seasons, for example, each week is a season and everything gets reset after that. Now of course the main question is how are MOMOs used in the game
MOMOs that are staked in NFT: farmer will begin to generate a new in-game token (not a new crypto token) representing Gold Coins
These Gold Coins will depend on your MOMOs hash power.
There are several systems in the game.
Skills: Each MOMO will have 4 skills with rare and above heroes having the ability to upgrade skills.
Each MOMO will be equipped with 3 Passive Skills and 1 Active Skill.
Skills will also depend on Gems. More on this in a bit.
MOMO Battler: This is where users can fight against one another with their MOMOs. It will be a 3v3 battler where each opponent MOMO that you defeat you will receive 1 Star and depending on how many Stars you get, you will be able to steal a certain amount of Tokens (Gold Coins) from your opponent.
MOMOpoly — which is a fan favorite, is where you can put your Tokens on the lucky wheel, and see how much you can win back!
Now the most important question… is?? How can you earn MBOX tokens from the game?
Each game will have leaderboards where depending on your rank you will be rewarded with MBOX tokens.
For Token Master there will be 3 leaderboards.
1. Token Master Board: who accumulates the most Tokens by the end of the season
2. MOMOpoly multiplier board: who gets the higher multiplier on monopoly
3. Star leaderboard: who accumulates the most stars in the MOMO battler
Now as I said there is a Gem system… so wants that?
The Gem System uses the ERC1155 standard to mint Gems. A certain number of gems are minted on a daily basis. To obtain a gem, you will need to use MBOX tokens. It will be based on a lottery system. If you are lucky enough you will get gems, if unfortunately, you aren't lucky enough then you will have your MBOX tokens returned to you.
The Gem system will be launched on roughly May 8th, 2021. The lottery will take place 4 times a week, and will last for 4 weeks. Depending on the stats we will see if it needs to be extended or if any changes need to be made. Gems have a max level of 9 and can be upgraded by combining three of the same type and level of gems. This will be directly inlayed into your MOMO.
Question: Do we have any other updates on the NFT’s we can share in the AMA?
So, we’ve always said we like to revolutionize, we like to do new things, we like to go crazy because we aren’t afraid to go crazy…so… free to play… play to earn…but not everyone can afford a super epic MOMO.
So isn’t this game just for whales? Well, we got something revolutionary for every stakeholder. Whether you are a whale or a fish like me.
Whether you’re an NFT collector, a gamer, or an investor we’ve devised a unique fully decentralized system using Smart Contracts where everyone can earn. so what is this system?
well… I haven’t thought of a good name for it yet. But for now, we will call it…MOMO Lend, Rent, and Earn system!
To put it simply, with the use of smart contracts, users can lend our their MOMO and other users and rent them. So let's say, I have an Epic MOMO that I’d like to keep… but I don’t play games.. and it sitting there doing nothing… no worries! You can put it up on the market and lend it out to other players for a season.
So now let's say you’re a gamer and you want to earn MBOX tokens through Token Master or all the other games coming out…. But you need an Epic to beat your opponent and get on the leaderboard. No problem!
You can rent an Epic MOMO, pay a small fee and earn your tokens by gaming!
Oh, I must add if you lend your MOMO out, it DOES NOT affect your MOMO: NFT Farmer hash power. You will still have the same hash power like your MOMO never left your side.
This is a system not seen anywhere else, but gives extra value to MOMO NFTs giving them more use cases, whether they are sitting idle or not.
We’ve always said this is a platform for everyone, so we need to make sure everyone can have fun on the platform and benefit one way or another.
Moderator: Well Kind sir, I think that is just some awesome news and like we always said we make the impossible possible here :)
Soon: yup, it's a sophisticated system, but we think it will be super beneficial for collectors, investors, and players
Question, from Twitter
You always said that you have “big players” on your side. When will you reveal some partnerships?
When we are ready to. Actually, I never said we have big players on our side. What I did say though is that we are actively working with partners.
I think there is a difference in the way we work. You have some projects that have an idea, show a few big players, then show a product 1 year? 2 year? 3 year? down the road? We work a bit differently, we let our product speak for itself. Everyone has a great idea, everyone can pitch, everyone can add a few logos, but not everyone has a working product that's fun, exciting, and earning for users. But… I will say that when the Legendary MOMOs come out… then we will reveal : )
next question from Twitter @Pickle248 :
Why can’t nft momo be transferred to another nft exchange what is its advantage to players like me and why other nft momo don’t have an upgrade
Not that it can’t, but the way we developed it is so that all the operations can take place within the smart contract. If we didn’t do this that would mean
you open a momo,
you have to manually stake it: GAS
now you want to sell it
you will have to unstake it: GAS
now you want to transfer it to another NFT exchange
Send it through your wallet: GAS
And many other steps that will cost gas
I think our innovation is how we have staking, upgrading, trading all within the smart contract.
So to finalize my answer to your question: What we did might seem to be different than other platforms or whatnot, but because we put the player experience in mind first. We needed to save as many steps, in turn, saving everyone on gas fees
Question: Next question from Twitter:
Will they be a chance where two NFT can breed, like Tamagotchi, and create brand new NFTs?
Answer: We don’t have plans for that atm.
everyone does breeding…
Question: next one from Twitter:
Why is MOBOX better than other similar platforms which combine DeFi and NFTs?
Answer: Because our approach is vastly different.
We are not trying to compete with others, but we are trying to add value to the current BSC DeFi ecosystem, something where a lot of developers have built a lot of meaningful products on.
Most DeFi NFT projects incorporate DeFi mechanics in their game or NFT platform or whatnot. We didn’t do that, we built on top of it, we added value. We built NFTs on top of the DeFi ecosystem, giving users more ways to learn about NFTs by going through an action they are already doing (yield farming) and more importantly another meaningful way to collect and Earn NFTs.
But I think the biggest difference between us and other projects is how the NFTs are being used. With MOMO you aren’t just mining MBOX tokens by staking, but we are showing true interoperability. Not just between blockchains (we will be adding other chains where you can bridge the NFTs) but also between games and platforms.
This is key for any NFT because of its verifiable uniqueness, it should have the ability to be used across multiple platforms and games, giving it more use cases and this is what we plan to show with MOMO NFTs with the help of the community, and also the partners we are onboarding.
Question. This is coming @SamBTC4 on Twitter
I fell in love with the whole Mobox ecosystem from the day I minted my first momo. I have the following questions regarding the roadmap 1. Besides burns what other options are being planned to boost the demand for MBOX tokens? 2. In the future will you raise daily MBOX dist?
Glad you’re having fun : )
Currently, there are no plans to raise the daily MBOX dist, as there will be other ways to earn MBOX through the games on the platform.
I think demand will come in several ways because everything is an ecosystem.
Demand for MOMOs
Demand for KEYs
Demand to Earn
Demand to have Fun
Demand for MBOX
All of this is a cycle, and one interacts with the other.
So, I think as long as we give more use cases for MBOX, bring in more users, show people the benefits of DeFi and NFTs and what it means to free to play and play to earn, demand will come naturally. the auto buyback and burn system also help with that. So I’d say, that for 2 weeks of launch we can only focus on developing and bringing out everything else we have planned.
This naturally will create demand. the auto buyback and burn system also help with that. So I’d say, that for 2 weeks of launch we can only focus on developing and bringing out everything else we have planned. This naturally will create demand. As I mentioned above, the product will speak for itself