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What are Crates? (Yield Farming)
Optimized Yield Farming
Each CRATE contract is a smart contract that automatically optimizes and delivers the best yield farming strategy for users. Using the MWallet, users can stake their stable coins or certain Liquidty-Provider (LP) Tokens into the CRATE contract. Each CRATE contract has their unique optimized yield farming strategy through different DeFi protocols. Where MWallet and CRATEs stand out is that it gives users the option to earn the best yield on three different blockchains (Ethereum, TRON, Binance Smart Chain). Note: Only Ethereum yield farming will be available during alpha
When depositing into a CRATE users will be given mTokens in return. mTokens represents a user's deposits into a CRATE + interest earned from the CRATE. Depositing into CRATES also mines
Ivan deposits 100 DAI into the DAI CRATE with 10% APY
Ivan receives 100 mDAI in return for his deposit. mDAI (Liquidity Provider Token) represents Ivan's deposits into the DAI CRATE.
Note: Due to MOBOX GameFi's unique ecosystem, in addition to earning DAI Ivan is also earning KEY tokens and NFTs, boosting his overall APY.
After a year, Ivan decides to withdraw his 100 DAI and collect his earnings. Ivan's mDAI will be burned and Ivan will receive 110 DAI.
Ivan has now made 10 DAI while sleeping.
John has heard of providing liquidity to AMM DEXs but finds the steps too difficult.
John sees that ETH-USDT LP has an APY of 40%. But John only has 10 ETH and no USDT.
Instead of swapping 5 ETH for USDT to provide liquidity to the ETH USDT pool, John is savvy and uses the MOBOX platform. He deposits 10 ETH and the MOBOX smart contract automatically swaps 5 ETH into USDT and provides liquidity into the ETH-USDT pool all in one transaction. John just saved on a lot of gas fees!
John's ETH is now earning swap fees from AMM DEXs as well as yield farming!
Note: Just like Ivan, John is not just earning swap fees and yield farming but also BOX tokens and NFTs! But John also has to consider impermanent loss due to providing liquidity to AMM DEXs.