Dear MOBOXers,
It’s been six months since we launched the $MDBL Liquidity Yield Program! Throughout this period, we’ve been continuously fine-tuning our approach to maintain active participation and reward our loyal community members who have supported us from the beginning.
Today, we’re excited to announce updates to our liquidity rewards structure, specifically focusing on adjustments to the total daily rewards tiers. These changes will take effect from Stage 7, beginning October 23. Please find the detailed breakdown of these modifications below.
Please note that until our next update, the following information serves as the official reference for $MDBL Liquidity Yield Program rules.
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.
- Get Boost Rate by holding Dragon Balls or MODragons.
⌛ Duration
- Stage 7: October 23rd — November 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: October 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 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
💡 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.
💡 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
October 23, 2024
