$MDBL Liquidity Yield Program Update (August 2024)

MOBOX
4 min readAug 20, 2024

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Dear MOBOXers,

Time flies when we’re building something amazing together! It’s been four months since we launched the $MDBL Liquidity Yield Program, the exciting opportunity for our community to support Dragonverse Neo while earning daily rewards through $MDBL staking. Your support has been nothing short of extraordinary, and we’re elevating the program to new heights.

We’re excited to introduce $MERL as an additional daily reward! Dragon Ball and MODragon holders can now boost rewards for both eMDBL and $MERL.

These changes will be implemented starting from Stage 5 (August 23). Check out the detailed breakdown of these exciting changes below.

Program Overview

🔗 Link

🔎 How to Join

  • Get BTC on Merlin on Meson as Gas Fee.
  • Get $MDBL on MerlinSwap
  • Go to the Liquidity Yield page.
  • Convert $MDBL to eMDBL at a 1:1 ratio. No staking period needed.
  • Claim Daily Rewards distributed in eMDBL and $MERL.
  • Get Boost Rate by holding Dragon Balls or MODragons.

⌛ Duration

  • Stage 5: August 23rd — September 23rd
  • The program will be carried out on a rolling basis, and the rewards will be adjusted by stages according to market conditions and ecosystem plans.

📝 Basic Rules

  • Total Daily Rewards varies based on the tier of Total eMDBL.
  • Redeeming eMDBL for $MDBL involves a Cooldown Period, with the flexibility to choose the duration and redeemable rate. The unredeemable portion will be considered as slashings.

Core Mechanisms

🧮 Daily Rewards Calculation

  • My Daily Reward = (My Boosted Active eMDBL / Total Boosted Active eMDBL) * Total Daily Reward
  • My Boosted Active eMDBL = My Active eMDBL * (1 + My Boost Rate)
  • My Boost Rate = Min [(DragonBall Buff + MODragon Buff), 25%]

🏆 Total Daily Rewards (Latest Update: August 2024)

  • Total Daily Rewards varies based on the tier of total active eMDBL at Snapshot Time.
  • Daily Snapshot Time: 8AM UTC

🔮 Boost Rewards with Dragon Balls & MODragons

  • Get Boost Rate by holding Dragon Balls or MODragons.
  • My Boost Rate = Min [(DragonBall Buff + MODragon Buff), 25%]
  • Daily Snapshot Time: 8AM UTC

🎉 Claim Daily Rewards

  • Daily Rewards are distributed in eMDBL + $MERL and must be claimed manually.
  • Daily Rewards claimed before 8AM UTC every day will be calculated into the total eMDBL for the next day.

🔄 Redeem eMDBL

Redeeming eMDBL to $MDBL involves a Cooldown Period, with the flexibility to choose the duration and redeemable rate. The unredeemable portion will be considered as slashings.

Before the $MDBL claim:

  • You need to wait for X days(15/30/60/120) to get Y%(25%/35%/50%/100%) of the $MDBL through redemption.
  • You can cancel the redemption at any time.
  • The eMDBL during Cooldown Period will still be calculated into the liquidity yield.

Example: If you stake 100 $MDBL, redeem 100 eMDBL, and choose 15 days for Cooldown Period, it means you can only get 25% (25 $MDBL) through redemption. The rest of 75% (75 $MDBL) is considered as slashings.

Possible FAQs

💡 Can $MERL rewards be boosted using DragonBalls and MODragon?

Yes, boosted rewards will proportionally increase both eMDBL and MERL earnings.

💡 What are Cooldown Period (15/30/60/120 days) and Redeemable Rate (25%/35%/50%/100%) for eMDBL?

When redeeming eMDBL for $MDBL:

  • 120-day cooldown: 100% redeemable after 120 days
  • 60-day cooldown: 50% redeemable after 60 days
  • 30-day cooldown: 35% redeemable after 30 days
  • 15-day cooldown: 25% redeemable after 15 days

Any unredeemed amount is considered as slashing.

💡 Why use Slashing Mechanisms?

Participating in the Liquidity Yield Program is optional-it’s a two-way choice.

  • Long-term supporters prefer to choose 120-day cooldown period for stable high rewards.
  • Users seeking flexibility can choose to hold $MDBL without participating in Liquidity Yield Program.
  • It’s impossible to balance between high APRs and instant unlocking, which would be unfair to our long-term supporters.

💡 Is there a Cooldown Period for $MERL?

No, $MERL rewards can be claimed every 24 hours.

💡 Will there be additional Rewards in the future?

Yes, we will update the reward pool on a rolling basis. Please stay tuned for future announcements!

💙💛

Team MOBOX

August 20, 2024

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