Yield Farming
This section will elaborate on the content related to Yield Farming (liquidity mining).
1. What is Yield Farming
Yield Farming
"Liquidity mining" in DeFi refers to the process of depositing or lending designated token assets as required through DeFi products with a mining mechanism to provide liquidity for the swap fund pool and obtain income. This may be the native token of the project.
On the MOBOX platform, deposit the MBOX-BNB LP to increase liquidity for the pool. As a reward for providing liquidity, participants to get airdrop of MBOX.
Crates
Each CRATE contract is a smart contract that automatically optimizes and delivers the best yield farming strategy for users across the Binance Smart Chain ecosystem. Users can stake their stable tokens or LP Tokens into the CRATE contract. Each CRATE contract has their unique optimized yield farming strategy through different DeFi protocols.
2. LP Token
What is LP token
LP (Liquidity provider) usually be understood as a token certificate that the liquidity pool returns to the user when the user staked tokens into the pool.
At present, all LPs on the MOBOX platform are Pancake's LPs, and the LPs that provide liquidity on the pancake can be directly deposit on MOBOX.
Get LP token
Deposit two digital token for instance MBOX&BNB into Pancake Swap's pool to obtain LP tokens, or add liquidity on MOBOX.
How to generate 1 unit of MBOX-BNB LP?
Assuming that the price of BNB is 100 BUSD and the price of MBOX is 1 BUSD, when 1 BNB is provided, 100 MBOXs are required.
3. HOW MBOX Farmed？
Source
All staked tokens will be converted to USDT amount to determine the amount of MBOX airdropped daily.
TVL (USD)
Daily MBOX airdrops
≤ 50,000,000
50,000
≤ 100,000,000
75,000
≤ 200,000,000
100,000
> 200,000,000
125,000
2. Users can yield farm by staking Pancakeswap MBOX-BNB LP (BEP20) into MOBOX Crates to obtain MBOX.
3. Each Crate Pool will be allocated a certain percentage of daily MBOX. Each user will be airdropped MBOX according to their weight in MBOX-BNB LP pool.
4. MBOX can be used to subscribe BOXs containing unique NFTs through the Smart Contract without withdrawing.
5. MBOX can be withdrawn any amount to a user's wallet.
How does LP auto-compounding work?
Auto-compound mining is achieved by constantly mining CAKE rewards, selling CAKE, and re-investing in the base LP. By supplying LP tokens on Pancake will yield us CAKE rewards.
Flow Chart of Yield Farming
4. Tutorials
1) Exchange BNB/MBOX
LP tokens come from liquidity, before add liquidity make sure you have enough BNB and MBOX tokens in wallet;
You can exchange tokens directly through the MOBOX platform, follow the step shown below.
2) Add Liquidity
Click "Liquidity" from MOMO farmer. In the pop-up window, click to add liquidity, and enter the quantity.
3) Deposit LP tokens
Click "deposit" on MOMO farmer. Enter the number of LP tokens in the pop-up window.
4) View APY
Follow the step to check "My APY", and recommendations of boost strategy.
5) Withdraw
There are two steps to withdraw your tokens:
Withdraw your deposited LP tokens.
Remove liquidity, rclick on "liquidity" from MOMO farmer and select "remove liquidity". After wallet authorization is completed, the tokens will returned back to the wallet.
5. Rewards
Click "Rewards" on the MOMO farmer to withdraw the mining income.
6. Mining Booster
veMBOX Booster
System will automatically accelerate the mining output after getting veMBOX; The current effect will be displayed at APY on the homepage.
How to get veMBOX?
Click "veMBOX boost" on MOMO Farmer. Enter the staked amount of MBOX in the pop-up window, and select the time you want to staked.
Find More about veMBOX:
7. Instructions
When withdrawing LP, a handling fee will be charged according to the pledge time, the specific values are as follows:
Liquidity mining (pledged LP) may incur impermanent Loss.
Note: Liquidity mining income only obtained by deposit LP.
In MOMO farmer, staked MBOX≠deposite LP. Staked MBOX can only obtain veMBOX and boost the mining income, but not the rewards for mining.
Last updated