$MDBL Liquidity Yield Program Update (August 2024)
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
