New Coin Mining｜Analysis of MBOX｜Newbies entering virtual currency

A few days ago, after I started researching virtual currency because of Likecoin, I first went through the twists and turns of the exchange registration ( see my last article ), and then registered the Binance exchange. Binance is really fully functional. , The transaction volume and liquidity are good, and the interface is simple and easy to use. Unfortunately, it does not include the trading of Likecoin . However, at present, I only use a few thousand yuan to test his Binance financial management function. I have not yet stepped into currency trading. Observe I have learned about the regular demand interest rates between various stablecoins, and understand the principles and risks of staking and Defi mining. In the future, I want to try liquidity mining and the recent rise of NFTs.

If you have registered with Binance, you should have noticed that there is an announcement and investment information about the " Latest New Coin Mining Project Mobox (MBOX) " on the exchange. As a novice, I invested some money out of curiosity. Going in, I want to try what other people say about mining. After about a week of operation, I will share with you the relevant information I have observed and sorted out.

New Coin Mining MBOX

Directly click into Binance's new coin mining , and you will see the above screen, which easily presents various important information.

MBOX mining content

• The current mining project , because MBOX is the 22nd phase of Binance’s new coin mining, there are actually other projects that can participate, but the activity has ended, and only the latest MBOX is left.
• What currency to use as pledge , invest your existing MBOX, BNB, BUSD to increase currency liquidity, and get the handling fee

 💡From here, you can find that if you have the relevant currency of Binance platform, BNB and BUSD can participate in more kinds of investments, so when I transferred money to Binance, I chose BUSD instead of more people USDT used

• The annualized rate of return must be the part that investors are most concerned about. If you look at the rate of return at the time of writing, the lowest BUSD is 3.45%, while MBOX is as high as 54.21%, but this is calculated based on the annualized rate of return. , and this rate of return will fluctuate, or pay more attention
• To obtain income , it has been stated at the beginning that it is new currency mining, so the reward obtained is of course given in MBOX coins

 💡In the week I observed, the annualized income of MBOX gradually decreased from more than 100% to 54.21% at this moment. At first, I guessed that it was because the currency value of MBOX continued to rise, but the currency value should not affect the total return rate. That's right, at most the number of coins obtained has dropped, and it was later discovered that he has a total reward limit. It may be that more people participated, which diluted the mining reward.

• Mining time , Binance's new coin mining time is 30 days as an activity cycle

specific rules

The above information is only the general investment content. If you want to do in-depth research, you can check the MBOX research report and specific rules one by one. The MBOX research report explains the design concept of the MOBOX platform. The specific rules are the details and precautions of mining. Explain clearly.

Let's take a look at the important information about the specific rules first.

MBOX reward distribution for each mining pool

• Stake BNB: 2,100,000 MBOX reward (70%)
• Stake MBOX: 600,000 MBOX reward (20%)
• Stake BUSD: 300,000 MBOX reward (10%)

 💡It is obvious that the proportion of MBOX rewards allocated by BNB on Binance platform is really high. If you have a Binance account, it is highly recommended to hold BNB to invest in other projects

MBOX Daily Total Rewards

Each mining pool has a fixed total reward for the day , so your rate of return will be divided equally according to the total number of coins in the pool . The initial reward will be higher, and as the number of participants and the amount of money invested continues to increase, the later period will increase. The remuneration you get will also be reduced. If you are a holder of MBOX coins, you have to worry about the rise and fall of the currency value of the currency itself. You may get high remuneration but lose the difference in currency value , which is not worth the loss.

 💡In order to avoid the losses caused by the rise and fall of the currency value, my method is to only invest in BUSD mining, and then put the MBOX rewards obtained into the high-reward pool of MBOX itself. Even if the currency value rises or falls, I don't really care.

Precautions for mining MBOX

Only the parts that I personally care about are listed here. For details, you can go to the official website for research.

• Snapshots of user balances and total pool balances will be taken hourly to calculate user rewards and updated hourly.
• Users will be able to accumulate their rewards (calculated hourly) and claim these rewards directly into their spot account at any time .

 💡Here is a small discovery, because it is recorded once an hour, so when my BUSD is profitable, I will immediately receive the MBOX reward and put it into the MBOX pool. I don’t have to accumulate a certain amount before taking it all out. Let my rate of return flip quickly.

• Tokens in each pool, as well as any unclaimed rewards, will be automatically transferred to each user's spot account at the end of each farming period .

MOBOX Platform

Finally, let's talk about the MOBOX platform. It is a GameFi platform. It combines the blockchain concepts of DeFi and NFT , and integrates the game content with virtual currency . You can earn MBOX coins issued by the platform while playing.

There are various games in it, such as the platform-specific NFT character MOMO. Not only is NFT a mining tool that can help you mine, but there are also simulation games that allow users to use virtual assets for simulated investment, or bear-bull wars Guess the rise and fall of the currency, etc., and other types will be introduced one after another to enrich the entire way of playing.

Unfortunately, in my opinion, the content of these games does not seem to be very attractive. Unlike the current mainstream video games, it is a virtual currency investment project wearing a game. It can be seen that the current NFT game is still under development, but I I believe that in the future, the blockchain technology will gradually mature, and the game experience developed will definitely be better.

The above is the newly listed MBOX mining I tried to understand. If you have any questions, please leave a message below, or share with me how you use Binance Exchange~