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Binance Announcement
--
SOL Surge: Stake SOL and Complete Web3 Quest to Share up to $100,000 in SOL & 20 Solana Seeker Phones
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Earn is pleased to launch a promotion for Binance SOL Staking. Stake SOL to BNSOL and complete the Web3 Quest for a chance to win multiple rewards:
A share of up to $100,000 in SOL;One of 20 Solana Seeker Phones; Earn approximately 5% APR in SOL staking rewards* with BNSOL (Binance SOL Staking).
*Note: Users may check the staking rewards APR here, which varies from time to time.
To qualify:
Click [Register Now] on the activity page.Complete the steps in Promotion A and Promotion B.
Promotion Period: 2024-09-24 00:00 (UTC) to 2024-10-24 23:59 (UTC)
Promotion A: Stake SOL and/or Complete Web3 Quest to Share up to $100,000 in SOL & 10 Solana Seeker Phones
Users can stake SOL to BNSOL and/or complete the Web3 Quest to get a Total BNSOL Score, which will then be ranked on the leaderboard for a chance to share the below dynamic rewards pool:
Dynamic Rewards Pool:
The total size of the dynamic rewards pool to be unlocked depends on the Total BNSOL Score of all qualified participants during the Promotion Period, and can go up to 745 SOL.
Total BNSOL Score of All Qualified Participants During the Promotion Period Dynamic Rewards Pool < 350,000380 SOLâ„ 350,000561 SOLâ„ 500,000745 SOL
Reward Structure:
Rankings by Total BNSOL Score Reward per Eligible User380 SOL Dynamic Rewards Pool561 SOL Dynamic Rewards Pool745 SOL Dynamic Rewards Pool1st - 10th Places4 SOL + 1 Solana Seeker Phone6 SOL + 1 Solana Seeker Phone 8 SOL + 1 Solana Seeker Phone11th - 20th Places2.5 SOL3.75 SOL5 SOL21st - 30th Places2 SOL3 SOL4 SOL31st - 40th Places1.5 SOL2.5 SOL3 SOL41st - 50th Places1 SOL1.5 SOL2 SOL51st - 100th Places0.5 SOL0.75 SOL1 SOL101st - 300th Places0.3 SOL0.45 SOL0.6 SOL301st - 500th Places0.15 SOL0.23 SOL0.3 SOL501st - 1,000th Places0.11 SOL0.16 SOL0.21 SOL1,001st - 2,000th Places0.04 SOL0.05 SOL0.07 SOL2,001st - 3,000th Places0.03 SOL0.04 SOL0.06 SOL3,001st - 4,000th Places0.02 SOL0.035 SOL0.04 SOL4,001st - 5,000th Places0.01 SOL 0.015 SOL 0.02 SOL
Total BNSOL Score Calculation:
Total BNSOL Score = Net BNSOL Staked Amount * Web3 Quest Multiplier
Calculation Period: 2024-09-10 00:00 (UTC) to 2024-10-24 23:59 (UTC)
Calculation Parameters:
Net BNSOL Staked Amount = Total BNSOL staked through Binance SOL Staking + Total BNSOL Staked on Binance Web3 Wallet (All Wallets)* - Total BNSOL redeemed to SOL - Total SOL Locked Products Early Redeemed (Converted to BNSOL for activity calculations, based on daily conversion ratios)
Users are required to stake any amount of SOL to BNSOL through Binance SOL Staking for their Net BNSOL Staked Amount to be eligible. A snapshot of a user's Net BNSOL Staked Amount will be taken at random once every 24 hours (i.e., between 00:00 UTC to 23:59 UTC) during the Promotion Period and reflected on the leaderboard. *Users will be able to stake SOL to BNSOL on the Binance Web3 Wallet once BNSOL Binance Web3 Wallet Staking goes live. Rankings will be reflected on the leaderboard as soon as the data is ready to sync.
Web3 Quest Multiplier = 1.5 or 1
Users may withdraw any amount of BNSOL from their Binance Spot Wallet to their Binance Web3 Wallet (MPC Wallets Only) during the Promotion Period to earn a Web3 Quest Multiplier of 1.5.Completing the Web3 Quest is not mandatory. If the Web3 Quest is not completed, then Web3 Quest Multiplier = 1.This will be applied to usersâ Net BNSOL Staked Amount to calculate a Total BNSOL Score. Please note: If users staked BNSOL directly through the Binance Web3 Wallet (All Wallets) when this feature is available, they will automatically get a 1.5 Web3 Quest Multiplier. Otherwise, users must complete the Web3 Quest to get a Multiplier.
Total BNSOL Score Calculation Examples:
Assumes a conversion ratio of 1 SOL = 0.99 BNSOL for simpler illustration, the actual conversion ratios will apply based on the day and the time of these user actions.
User AUser BUser CActionsStaked 10 SOL to 9.9 BNSOL.Redeemed 5 BNSOL to SOL.No withdrawal to Web3 Wallet.Staked 10 SOL to 9.9 BNSOL.Withdrew 3 BNSOL to Web3 Wallet.Staked 10 SOL to 9.9 BNSOL.Redeemed 4 SOL from Locked Products. Calculation(9.9 - 5) * 1 = 4.9 (9.9) * 1.5 = 14.85(9.9 - (4 * 0.99)) * 1 = 5.94Total BNSOL Score4.9 BNSOL14.85 BNSOL5.94 BNSOL
All eligible users will be ranked by their Total BNSOL Score accumulated each day during the Promotion Period. Top users will qualify to share the dynamic rewards pool above.
Promotion B: Maintain a 1 BNSOL Score for a Special Giveaway of a Solana Seeker Phone
Binance is excited to announce a special giveaway! At 2024-10-24 23:59 (UTC), we will use the BNB Smart Chain hash value to automatically select 10 users from Promotion A. To qualify, simply stake and maintain at least 1 BNSOL Score by 2024-10-24 23:59 (UTC). Each of the 10 selected users will receive a Solana Seeker Phone.
Join the Promotions Now!
About Binance SOL Staking:
Binance SOL Staking allows users to stake their Solana (SOL) tokens to support the Solana networkâs operations. By staking SOL on Binance, users contribute to the networkâs security and efficiency, and will receive BNSOL tokens in return, a tokenized representation of staked SOL and rewards.Users can purchase SOL on the Spot market or via the Buy Crypto page using various payment methods, such as Visa and Mastercards, Apple Pay, Google Pay, and wallet balances to stake into BNSOL. Alternatively, users can also deposit SOL to their Binance account to stake into BNSOL.
About BNSOL Web3 Wallet & DeFi Integrations:
BNSOL is also supported on the Binance Web3 Wallet, users can withdraw their BNSOL to their Web3 Wallet and explore Solana protocols that have integrated with BNSOL, such as Kamino, Solayer, Drift, Orca, Meteora, MarginFi, Raydium, Sanctum, Save, Jupiter and Pyth.
Further Information:
Binance SOL Staking FAQGet Ready for Binance SOL Staking With the New BNSOL TokenWhat Is Binance Web3 Wallet and How Does It WorkHow to Create and Manage My Binance Web3 Wallet?
Terms & Conditions:
Only users who complete identity verification and confirm their participation during the Promotion Period can qualify for rewards in this Promotion. Please refer to the Binance SOL Staking Terms and Conditions and Risk Warning prior to using SOL Staking. Users may also view the FAQs on Binance SOL Staking for more information.Each sub-account will not be viewed as an independent account when participating in this Promotion. Sub-accountsâ net SOL staking amount will be combined with the master accountâs standard net SOL staking amount.Web3 Wallets created from the same UID will not be viewed as an independent account when participating in this Promotion. All Net BNSOL Staking Amount under different Web3 Wallets under the same UID will be combined together to work out a Net BNSOL Staking Amount.Rewards Distribution:SOL token rewards will be airdropped to eligible users by 2024-11-20 23:59 (UTC), unless otherwise advised by Binance. Users may find their rewards via Wallets > Spot. Binance will provide a 100% discount code for Solana Seeker Phones to all eligible winners via email, CS outbound chat, and VIP managers (if any) within three weeks after the Promotion ends. Winners have to redeem the discount code during checkout on the Solana Mobile Store before 2024-12-31 15:59 (UTC). If winners fail to redeem the discount code before the date, their reward will be forfeited. Winners will be responsible for any taxes, shipping and fees if applicable. No refunds or cash equivalent value of the physical rewards will be granted.Binance uses the exchange rate of SOL/USD at 2024-09-12 to calculate the total rewards in USD. Users can view their SOL staking assets on the Binance SOL Staking Page. Redemption period for SOL staking (BNSOL): Four days.Web3 wallet protocols: Binance does not assume any responsibility for the performance, security, or reliability of third-party protocols mentioned. Users engage with these protocols at their own risk, and Binance will not be liable for any losses or damages arising from their use. For more of the Web3 Wallet terms please see here. Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-09-24
Note: This announcement was updated on 2024-09-26 to clarify the Dynamic Rewards Pool of 380 SOL requires the Total BNSOL Score of All Qualified Participants During the Promotion Period to be < 350,000 to unlock.
Fellow Binancians,
Binance Earn is pleased to launch a promotion for Binance SOL Staking. Stake SOL to BNSOL and complete the Web3 Quest for a chance to win multiple rewards:
A share of up to $100,000 in SOL;One of 20 Solana Seeker Phones; Earn approximately 5% APR in SOL staking rewards* with BNSOL (Binance SOL Staking).
*Note: Users may check the staking rewards APR here, which varies from time to time.
To qualify:
Click [Register Now] on the activity page.Complete the steps in Promotion A and Promotion B.
Promotion Period: 2024-09-24 00:00 (UTC) to 2024-10-24 23:59 (UTC)
Promotion A: Stake SOL and/or Complete Web3 Quest to Share up to $100,000 in SOL & 10 Solana Seeker Phones
Users can stake SOL to BNSOL and/or complete the Web3 Quest to get a Total BNSOL Score, which will then be ranked on the leaderboard for a chance to share the below dynamic rewards pool:
Dynamic Rewards Pool:
The total size of the dynamic rewards pool to be unlocked depends on the Total BNSOL Score of all qualified participants during the Promotion Period, and can go up to 745 SOL.
Total BNSOL Score of All Qualified Participants During the Promotion Period Dynamic Rewards Pool < 350,000380 SOLâ„ 350,000561 SOLâ„ 500,000745 SOL
Reward Structure:
Rankings by Total BNSOL Score Reward per Eligible User380 SOL Dynamic Rewards Pool561 SOL Dynamic Rewards Pool745 SOL Dynamic Rewards Pool1st - 10th Places4 SOL + 1 Solana Seeker Phone6 SOL + 1 Solana Seeker Phone 8 SOL + 1 Solana Seeker Phone11th - 20th Places2.5 SOL3.75 SOL5 SOL21st - 30th Places2 SOL3 SOL4 SOL31st - 40th Places1.5 SOL2.5 SOL3 SOL41st - 50th Places1 SOL1.5 SOL2 SOL51st - 100th Places0.5 SOL0.75 SOL1 SOL101st - 300th Places0.3 SOL0.45 SOL0.6 SOL301st - 500th Places0.15 SOL0.23 SOL0.3 SOL501st - 1,000th Places0.11 SOL0.16 SOL0.21 SOL1,001st - 2,000th Places0.04 SOL0.05 SOL0.07 SOL2,001st - 3,000th Places0.03 SOL0.04 SOL0.06 SOL3,001st - 4,000th Places0.02 SOL0.035 SOL0.04 SOL4,001st - 5,000th Places0.01 SOL 0.015 SOL 0.02 SOL
Total BNSOL Score Calculation:
Total BNSOL Score = Net BNSOL Staked Amount * Web3 Quest Multiplier
Calculation Period: 2024-09-10 00:00 (UTC) to 2024-10-24 23:59 (UTC)
Calculation Parameters:
Net BNSOL Staked Amount = Total BNSOL staked through Binance SOL Staking + Total BNSOL Staked on Binance Web3 Wallet (All Wallets)* - Total BNSOL redeemed to SOL - Total SOL Locked Products Early Redeemed (Converted to BNSOL for activity calculations, based on daily conversion ratios)
Users are required to stake any amount of SOL to BNSOL through Binance SOL Staking for their Net BNSOL Staked Amount to be eligible. A snapshot of a user's Net BNSOL Staked Amount will be taken at random once every 24 hours (i.e., between 00:00 UTC to 23:59 UTC) during the Promotion Period and reflected on the leaderboard. *Users will be able to stake SOL to BNSOL on the Binance Web3 Wallet once BNSOL Binance Web3 Wallet Staking goes live. Rankings will be reflected on the leaderboard as soon as the data is ready to sync.
Web3 Quest Multiplier = 1.5 or 1
Users may withdraw any amount of BNSOL from their Binance Spot Wallet to their Binance Web3 Wallet (MPC Wallets Only) during the Promotion Period to earn a Web3 Quest Multiplier of 1.5.Completing the Web3 Quest is not mandatory. If the Web3 Quest is not completed, then Web3 Quest Multiplier = 1.This will be applied to usersâ Net BNSOL Staked Amount to calculate a Total BNSOL Score. Please note: If users staked BNSOL directly through the Binance Web3 Wallet (All Wallets) when this feature is available, they will automatically get a 1.5 Web3 Quest Multiplier. Otherwise, users must complete the Web3 Quest to get a Multiplier.
Total BNSOL Score Calculation Examples:
Assumes a conversion ratio of 1 SOL = 0.99 BNSOL for simpler illustration, the actual conversion ratios will apply based on the day and the time of these user actions.
User AUser BUser CActionsStaked 10 SOL to 9.9 BNSOL.Redeemed 5 BNSOL to SOL.No withdrawal to Web3 Wallet.Staked 10 SOL to 9.9 BNSOL.Withdrew 3 BNSOL to Web3 Wallet.Staked 10 SOL to 9.9 BNSOL.Redeemed 4 SOL from Locked Products. Calculation(9.9 - 5) * 1 = 4.9 (9.9) * 1.5 = 14.85(9.9 - (4 * 0.99)) * 1 = 5.94Total BNSOL Score4.9 BNSOL14.85 BNSOL5.94 BNSOL
All eligible users will be ranked by their Total BNSOL Score accumulated each day during the Promotion Period. Top users will qualify to share the dynamic rewards pool above.
Promotion B: Maintain a 1 BNSOL Score for a Special Giveaway of a Solana Seeker Phone
Binance is excited to announce a special giveaway! At 2024-10-24 23:59 (UTC), we will use the BNB Smart Chain hash value to automatically select 10 users from Promotion A. To qualify, simply stake and maintain at least 1 BNSOL Score by 2024-10-24 23:59 (UTC). Each of the 10 selected users will receive a Solana Seeker Phone.
Join the Promotions Now!
About Binance SOL Staking:
Binance SOL Staking allows users to stake their Solana (SOL) tokens to support the Solana networkâs operations. By staking SOL on Binance, users contribute to the networkâs security and efficiency, and will receive BNSOL tokens in return, a tokenized representation of staked SOL and rewards.Users can purchase SOL on the Spot market or via the Buy Crypto page using various payment methods, such as Visa and Mastercards, Apple Pay, Google Pay, and wallet balances to stake into BNSOL. Alternatively, users can also deposit SOL to their Binance account to stake into BNSOL.
About BNSOL Web3 Wallet & DeFi Integrations:
BNSOL is also supported on the Binance Web3 Wallet, users can withdraw their BNSOL to their Web3 Wallet and explore Solana protocols that have integrated with BNSOL, such as Kamino, Solayer, Drift, Orca, Meteora, MarginFi, Raydium, Sanctum, Save, Jupiter and Pyth.
Further Information:
Binance SOL Staking FAQGet Ready for Binance SOL Staking With the New BNSOL TokenWhat Is Binance Web3 Wallet and How Does It WorkHow to Create and Manage My Binance Web3 Wallet?
Terms & Conditions:
Only users who complete identity verification and confirm their participation during the Promotion Period can qualify for rewards in this Promotion. Please refer to the Binance SOL Staking Terms and Conditions and Risk Warning prior to using SOL Staking. Users may also view the FAQs on Binance SOL Staking for more information.Each sub-account will not be viewed as an independent account when participating in this Promotion. Sub-accountsâ net SOL staking amount will be combined with the master accountâs standard net SOL staking amount.Web3 Wallets created from the same UID will not be viewed as an independent account when participating in this Promotion. All Net BNSOL Staking Amount under different Web3 Wallets under the same UID will be combined together to work out a Net BNSOL Staking Amount.Rewards Distribution:SOL token rewards will be airdropped to eligible users by 2024-11-20 23:59 (UTC), unless otherwise advised by Binance. Users may find their rewards via Wallets > Spot. Binance will provide a 100% discount code for Solana Seeker Phones to all eligible winners via email, CS outbound chat, and VIP managers (if any) within three weeks after the Promotion ends. Winners have to redeem the discount code during checkout on the Solana Mobile Store before 2024-12-31 15:59 (UTC). If winners fail to redeem the discount code before the date, their reward will be forfeited. Winners will be responsible for any taxes, shipping and fees if applicable. No refunds or cash equivalent value of the physical rewards will be granted.Binance uses the exchange rate of SOL/USD at 2024-09-12 to calculate the total rewards in USD. Users can view their SOL staking assets on the Binance SOL Staking Page. Redemption period for SOL staking (BNSOL): Four days.Web3 wallet protocols: Binance does not assume any responsibility for the performance, security, or reliability of third-party protocols mentioned. Users engage with these protocols at their own risk, and Binance will not be liable for any losses or damages arising from their use. For more of the Web3 Wallet terms please see here. Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-09-24
Note: This announcement was updated on 2024-09-26 to clarify the Dynamic Rewards Pool of 380 SOL requires the Total BNSOL Score of All Qualified Participants During the Promotion Period to be < 350,000 to unlock.
Why Mobox is a SCAM
Once again going to expose some ugly truth over the listed GameFi platform named Mobox. In addition to my previous articles a new shameful incident came to my attention and feel the need to share in a way to protect people from losing their money to this slow rug pull. As described in previous articles, the big project called Dragonverse that earned developers thousands of , was falling behind in development. Nothing that was written in the Roadmap ever came to life. Players that had spent all their precious money to invest in the Dragon Nft's could only see days passing, without any play to earn game that accommodates a leaderboard and a prize pool. After all this months of waiting, now they hear of series of Events that end up in BURNING their nft's. Sounds a lot like the first Mobox scam, the famous Momoverse Avatars mint, imprisonment in Binance and then... burn for 2 mbox per avatar reward. To make matters worse there's evidence of INSIDE INFORMATION LEAK towards well funded wallets. One day BEFORE the event's official announcement, dragon nft market showed a remarkable volume increase, way far from the daily average of many months. Unsurprisingly, a few accounts literally swept the market. Even without knowing the Event / Airdrop (officially) rules, they spread their newly acquired Dragons into multiple wallet accounts. With this technique they managed to abuse the Dragon power / hash bonuses and get a much bigger share during the upcoming snapshot. How did they know? Who told them? Similar behavior has been observed and reported by the faithful community to the devs and mods directly in mobox telegram / discord. This behavior is traceable in the Blockchain and since multiaccount is (allegedly) not allowed in mobox, one would expect devs do something about it. Sure, they mute or ban people telling the truth while they keep selling information under the table. There were so many hopes for this project at the beginning but it turned out to be an orchestrated Rug pull. Feel free to comment, like, share and tip.$MBOX #Write2Earn #GameFi #NFTâŹâ© #MOBOX #scam
Mobox gamefi update
This is my second article concerning the subject's project. I strongly recommend any new potential investors to stay well away from it. It's in a dying process and developers are only inventing new ways to milk more money out. Recently they decided suddenly to close down Chainz Original (one of their few games) , effectively separating players - investors from their own investment!!! Today they announced an expansion of Dragonverse Neo, their latest project. They add yet ANOTHER NFT collection with infinite mint, without giving any usecase details and making existing platforms' nft's even more diluted. One year ago they issued Dragons nft's in Arbitrum network and got thousands of ETH back from the hype. One year later, they are still abandoned without a game to be used. 3 games that HAD been announced in 2023 Roadmap, were canceled. Now they go to milk BTC from the BRC-420 nft's. Just stay away. #Write2Earn $MBOX $BTC #GameFi #ScamAwareness
Mobox - The story so far
A long story about MOBOX (that can definitely be longer).
Mobox was launched as a project to create a gaming platform that will offer a good variety of games that will all make use of the platform's various NFT's and the platform's token #MBOX in Q2 of 2021 . Initial amounts of the token were given for free through a staking process using the developer's previous project tokens.
In August of same year it was announced as Binance's 22nd Launchpool project which brought enormous visibility and value to the project pushing the token to a price of 10$ during the farming month. In November a strategic investment by Binance Labs was announced and the introduction of a Mobox Mini-App integrated inside Binance App Marketplace to give Binance users a direct gateway into the gaming interface. Those two actions pushed the #MBOX token to its All Time High of 15.68$ . Two days later the advertised Mini App was removed from Binance Marketplace and everybody was left in question. The questions were vaguely answered during an AMA organised by Mobox team as the reason being that an unexpectedly great number of people joined it and the infrastructure was not ready to carry the burden. Ever since then , which means two years later , when Mobox team is asked about the status of this project , the answer given is "SUSPENDED" , not cancelled or under construction. At that point a slow decline of the token price began.
On 22nd February of 2022 Binance Airdropped Mobox's new NFT called "Momoverse Avatar" to everyone who had participated in the previously mentioned Mini App. Afterwards users were able to trade those Avatars in Binance NFT marketplace generating transaction fee income for both Binance and Mobox team. On 5th of April 2022 withdrawal of Avatars to decentralised wallets began functional but only to be suspended as well 20 days later. Notice that only withdrawal was suspended , transactions could still happen but prices crashed as now they would be nothing more than a profile picture on Binance. On 31st May 2022 Mobox team and Binance announced the "Avatar burn event" , a chance for users that had their avatars locked in Binance NFT area to destroy them and spin a wheel to earn prizes varying from 2 #MBOX tokens (minimum) up to 1 #BNB (maximum) . Obviously the chances to win anything other than 2 MBOX were never announced.
Leaving this Avatar distribution and imprisonment that left hundreds of users crying over their lost investment , while MBOX token kept losing value , MOBOX team had only one thing to say . We keep building. And they claimed they were focused solely on delivering their Metaverse called Momoverse. At first after its delivery it showed great potential , a world were many mini games can be added while a many more options were announced (Guild wars , Momo lands etc.) . Truth is that near the end of the 2023 and Momoverse is still the same as its latest Alpha test. No development while rewards for players have been nerfed plenty of times.
Mobox tokenomics in the Whitepaper have a strict plan for the platform's token. Mobox team managed to go around this by issuing MEC , an infinite supply NFT that can be minted out of thin air. They removed MBOX token from game rewards and made MEC usecase a necessity for Momo NFT holders and Momoverse players. On top of that they introduced Investment decay on their top two games (Moland Defence and Clash of Molands). Even their own rule that players were following , stating their investment level can only go up , was removed from game's description. These adjustments followed Mobox platform's routine of cutting down on rewards given to players/investors in any possible way (Liquidity pool / mining camp). Again Mobox was claiming they keep building.
During this time though they failed to deliver half of their initial Roadmap , introducing a totally new one. With this new Roadmap came another Momoverse-like game , but this time with Dragons. A small amount of eggs was distributed for free to eligible players. 5 months later there is still no game , only "Events" with leaderboards of players earning newly printed MBOX tokens while paying ETH / ARB / USDT to participate in this event. This is ofcourse an indirect way of devs selling their own token no matter how it will be presented. This money goes to various "Pools" that are supposed to be used for the further development of the platform.
There was a similar pool containing 7 million $ used to buyback and burn the token, as described in Whitepaper. Suddenly in October 2023 devs decided to close this pool and remove the money to be used for better ways , no details attached. For a "community-owned" platform as self-proclaimed, there has been no DAO for more than 2 years and community has never been heard. Additionally for the past year every critic voice of long time followers is being silenced with mutes and bans in platform's social channels. All this while the new Roadmap is already failing to be delivered (Q3 objectives were not met) and MOBOX team announced a new partnership and investment with P-12.
Rumour has it, that all the silencing is being done to avoid potential new investors being able to learn Mobox team failures and misconducts of the past that have led the token to its 0.20 all time low recorded on 19th October 2023.
Thank you for reading , feel free to comment and ask for details , follow and tip.
Mobox was launched as a project to create a gaming platform that will offer a good variety of games that will all make use of the platform's various NFT's and the platform's token #MBOX in Q2 of 2021 . Initial amounts of the token were given for free through a staking process using the developer's previous project tokens.
In August of same year it was announced as Binance's 22nd Launchpool project which brought enormous visibility and value to the project pushing the token to a price of 10$ during the farming month. In November a strategic investment by Binance Labs was announced and the introduction of a Mobox Mini-App integrated inside Binance App Marketplace to give Binance users a direct gateway into the gaming interface. Those two actions pushed the #MBOX token to its All Time High of 15.68$ . Two days later the advertised Mini App was removed from Binance Marketplace and everybody was left in question. The questions were vaguely answered during an AMA organised by Mobox team as the reason being that an unexpectedly great number of people joined it and the infrastructure was not ready to carry the burden. Ever since then , which means two years later , when Mobox team is asked about the status of this project , the answer given is "SUSPENDED" , not cancelled or under construction. At that point a slow decline of the token price began.
On 22nd February of 2022 Binance Airdropped Mobox's new NFT called "Momoverse Avatar" to everyone who had participated in the previously mentioned Mini App. Afterwards users were able to trade those Avatars in Binance NFT marketplace generating transaction fee income for both Binance and Mobox team. On 5th of April 2022 withdrawal of Avatars to decentralised wallets began functional but only to be suspended as well 20 days later. Notice that only withdrawal was suspended , transactions could still happen but prices crashed as now they would be nothing more than a profile picture on Binance. On 31st May 2022 Mobox team and Binance announced the "Avatar burn event" , a chance for users that had their avatars locked in Binance NFT area to destroy them and spin a wheel to earn prizes varying from 2 #MBOX tokens (minimum) up to 1 #BNB (maximum) . Obviously the chances to win anything other than 2 MBOX were never announced.
Leaving this Avatar distribution and imprisonment that left hundreds of users crying over their lost investment , while MBOX token kept losing value , MOBOX team had only one thing to say . We keep building. And they claimed they were focused solely on delivering their Metaverse called Momoverse. At first after its delivery it showed great potential , a world were many mini games can be added while a many more options were announced (Guild wars , Momo lands etc.) . Truth is that near the end of the 2023 and Momoverse is still the same as its latest Alpha test. No development while rewards for players have been nerfed plenty of times.
Mobox tokenomics in the Whitepaper have a strict plan for the platform's token. Mobox team managed to go around this by issuing MEC , an infinite supply NFT that can be minted out of thin air. They removed MBOX token from game rewards and made MEC usecase a necessity for Momo NFT holders and Momoverse players. On top of that they introduced Investment decay on their top two games (Moland Defence and Clash of Molands). Even their own rule that players were following , stating their investment level can only go up , was removed from game's description. These adjustments followed Mobox platform's routine of cutting down on rewards given to players/investors in any possible way (Liquidity pool / mining camp). Again Mobox was claiming they keep building.
During this time though they failed to deliver half of their initial Roadmap , introducing a totally new one. With this new Roadmap came another Momoverse-like game , but this time with Dragons. A small amount of eggs was distributed for free to eligible players. 5 months later there is still no game , only "Events" with leaderboards of players earning newly printed MBOX tokens while paying ETH / ARB / USDT to participate in this event. This is ofcourse an indirect way of devs selling their own token no matter how it will be presented. This money goes to various "Pools" that are supposed to be used for the further development of the platform.
There was a similar pool containing 7 million $ used to buyback and burn the token, as described in Whitepaper. Suddenly in October 2023 devs decided to close this pool and remove the money to be used for better ways , no details attached. For a "community-owned" platform as self-proclaimed, there has been no DAO for more than 2 years and community has never been heard. Additionally for the past year every critic voice of long time followers is being silenced with mutes and bans in platform's social channels. All this while the new Roadmap is already failing to be delivered (Q3 objectives were not met) and MOBOX team announced a new partnership and investment with P-12.
Rumour has it, that all the silencing is being done to avoid potential new investors being able to learn Mobox team failures and misconducts of the past that have led the token to its 0.20 all time low recorded on 19th October 2023.
Thank you for reading , feel free to comment and ask for details , follow and tip.
