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FAQ About MBOX

• What is MOBOX (MBOX)?

  MOBOX (MBOX) is a community-centric platform designed to reward users for their participation and enjoyment. It was launched on April 6, 2021, and merges aspects of decentralized finance (DeFi) and non-fungible tokens (NFTs) to offer a distinctive gaming experience. The platform's native utility token, MBOX, enables various functionalities within the ecosystem. With a total supply capped at 1 billion tokens, MOBOX utilizes a specialized smart contract to ensure equilibrium within its ecosystem. The founders have been involved in the decentralized application (DApp) sector since 2018, bringing extensive expertise in developing smart contracts.

• How to buy MBOX

  To buy MBOX, you can follow these general steps:
  
  1. Choose a cryptocurrency exchange and Create an Account
  Start by selecting a reputable and reliable cryptocurrency platform that supports MBOX trading. You can also buy MBOX here on Toobit. Sign up.
  
  2. Complete Verification (Not Mandatory):
  Read our How to Complete Identification on Toobit guide for more information.
  
  3. Deposit Funds:
  Deposit funds into your Toobit account. This could be done via credit/debit cards, or your crypto wallet.
  
  4. Navigate to MBOX:
  Once your account is funded, navigate to the Markets section of the platform.
  
  5. Buy MBOX:
  Locate MBOX in the list of available cryptocurrencies.
  Place a buy order. Read our How to Buy Crypto on Toobit guide for more information.

• How to Sell MBOX?

  You can sell MBOX to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.

• What is MBOX price Now?

  Are you looking for MBOX Price? Live MBOX price is updated in real-time on Toobit.

• How to Withdraw MBOX on Toobit?

  You can withdraw MBOX and other crypto tokens into USDT here on Toobit. Read our How to Withdraw Crypto on Toobit guide for more information.

• MBOX Price

  MOBOX made its debut in April 2021, launching with a total supply of 1 billion tokens. Initially priced at $4, the token's value dropped to a low of 48 cents by June 2021 before rebounding to $9 by September and reaching a peak of $15.68 in December 2021. The MBOX token operates on the Binance Smart Chain as a BEP-20 token. At the time of its launch, 51% of the tokens were allocated for public distribution, while 21% were designated for contributors, 8% for strategic partners, and 20% for the project’s team.
  All MBOX tokens are expected to be introduced to the community by April 2026, which is five years following its initial launch. In the first year, 400 million MBOX tokens were made available to the public, with the introduction rate of new tokens declining over time. For example, in the second year, 225 million tokens are set to enter circulation. Additionally, MOBOX commits to buying back 80% of its platform's profits every week, with these profits generated from a 4% market fee, a 4% performance fee, and a 0.5% withdrawal fee, all paid in tokens.

• How does MOBOX work?

  MOBOX is centered around the play-to-earn model, which transforms video gaming into a financial opportunity by rewarding players with cryptocurrencies. It incorporates decentralized finance (DeFi) elements, including yield farming—the process of earning rewards by staking governance tokens—and non-fungible tokens (NFTs). The MBOX token serves as both a governance instrument and an in-game currency, incentivizing new players while encouraging current users to engage through staking.
  All games within the MOMOverse are free to access, and developers aim to create an experience akin to a ""savings account"" where players can accumulate resources and summon more heroes the more they save. Essentially, MOBOX brings DeFi principles, which gained traction in mid-2020, into the realm of video gaming.
  The games are part of the MOMOverse, MOBOX's unique metaverse, where players select a MOprofession to refine their skills and trade their creations on the MOmarket. They can also explore MOland, interact with others on the MOsocial network of social games, or appreciate NFTs showcased in the MOseum. Ultimately, MOBOX plans to transition from the Binance Smart Chain to its own MOBOX Chain, a dedicated blockchain that will eliminate gas fees.

• Key events and management

  MOBOX has collaborated with Team Alliance, an e-sports organization, to launch MOMO NFTs. The MOBOX team consists of 30 anonymous members with extensive experience in developing DeFi projects, and one co-founder is referred to as "Soon," according to BSC News. Development on the MOBOX platform started in March 2021, with a security audit conducted by Certik in May 2021. The audit awarded MOBOX a strong security rating of 93 out of 100. For context, Aave, a well-established DeFi protocol, received a slightly higher score of 95, but it’s important to note that these scores do not necessarily indicate the reliability of the project; rather, they reflect the integrity of the code. In contrast, Terra, which faced significant collapse in May 2022, received a score of 85.

• What are the potential use cases for MOBOX?

  MOBOX strives to offer a platform that rewards users for their participation and enjoyment. The MBOX token powers various in-game actions, such as obtaining new characters and earning rewards through Player-versus-Player (PvP) competitions. Holders of the MBOX token can contribute to the platform's evolution by submitting and voting on proposals that shape its future. Furthermore, the platform boasts a distinctive NFT ecosystem, enabling users to create, trade, and utilize NFTs across a range of games. It also supplies a suite of resources for the community, catering to game developers, artists, and NFT enthusiasts alike.

• How Many MBOX Coins Are There in Circulation?

  The MOBOX platform launched fairly on April 6, 2021, without any pre-seed funding, pre-sales, or pre-locked value. It has a total token supply of 1 billion, with 51% allocated to the community, 21% designated for community contributors, 8% set aside for strategic partners, and 20% reserved for the team. The MBOX token distribution occurs over a five-year period, beginning with the release of 400 million tokens in the first year, followed by a decreasing amount each year thereafter. Additionally, 80% of the platform's fees are utilized to buy back and burn MBOX tokens through an innovative smart contract that automates this process.