A very popular question that is often asked by the players. veMBOX is seen everywhere, from MOMO Farm boosting to Raffles requirement.
Let’s dive into the veMBOX mystery!
💁 veMBOX has a couple of functions in Mobox:
- As a weighted boost for your CRATE for your MOMO Farm
- As the right to vote on the development of the MOBOX platform
- As requirement for to enter BOX raffles or GEM lottery
Before continuing, I’d recommend to have a read up the official MOBOX medium about veMBOX that covers the following:
- How to deposit veMBOX to the Liquidity Pools?
- How to participate for the BOX raffle?
In this article, you’ll learn the following:
- How does veMBOX work as a weighted boost for your CRATES?
- How do you transfer your veMBOX to other pool?
- What is GOV pool?
How does veMBOX work as a weighted boost for your CRATES?
veMBOX will give you a weighted boost for when you are KEY farming in CRATES, the max boost of KEY farming you can receive is 3x.
Few things to take note based on the above statement:
- NFT Farmer Crates no longer produce KEYs, and has been changed to produce MBOX tokens instead which was mentioned in this community update
- 3x does not refer 3x from the normal APY, but rather weighted 3x more in the Liquidity Pool
Boosting does not mean multiplying the APY (annual percentage yield) with the multipliers, but boosting the weight of your stake in the liquidity pool that allows you to get the maximum APY % than those without.
With the example above:
- Average APY (what everyone is getting without boost) = 215.77%
- My APY (with 2.82x boost) = 256.82%
- What I get, if I max out the veMBOX boost (3x boost) = 272.82%
- I’ll need additional of 352.16 veMBOX to maximize the boost to 3x
💡 Things you need to know
The more you stake in the Liquidity Pool, the more veMBOX you need for the maximum boosting. Keep checking your CRATES on the veMBOX boosting, as you might need to add more veMBOX from time to time, when more and more people are boosting their stakes as well.
How do you transfer your veMBOX to other pool?
- Click on veMBOX icon. Choose “Transfer” tab.
- Select the veMBOX duration that you had previously stake your MBOX for your veMBOX. If you had previously stake your MBOX for veMBOX for a “Long” period (1/2/3 years), then select “Long”.
- Click on the pool, for eg. MBOX-BNB, that you had previously stake. Choose the pool that you wanted to transfer from.
- The balance amount will be displayed accordingly, and enter the amount that you desired for the transfer.
- Click on the pool, for eg. GOV, that you wanted to transfer to.
- Click on “Confirm” and pay the gas fee.
What is GOV pool?
GOV gives you the important right to vote on the development of the MOBOX platform. At this current moment, there’s no further information about the voting features. Will update back, when I have more information about this.
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Stay safe and take care,
— HarryMomo
