Introducing: Mobie Staking
Stake Your Mobie Tokens for Guaranteed Rewards
The time is here to grow your MBX holdings with the launch of Staking!
On April 1st, Mobie will launch staking of the wMBX ERC20 asset. We will be doing this in partnership with Ferrum and are pleased to share the information in advance!
What is Staking? — Staking helps grow your token holdings with fast returns when you lock your tokens in your cryptocurrency wallet for a fixed period of time. This process supports the operations of the network and generates great rewards for locking up your tokens for 90 days. We have built out both Standard (up to 35% APY) and VIP (up to 45% APY) staking models to provide different ways to get involved — keep reading for details on each!
The rewards you’ll earn from staking your wMBX are a fast and safe way to increase your token holding. Staking also has the potential to provide ecosystem support for the token which could help create even more value over time.
What do you need to start Staking? — For now, staking is only supported on the Ethereum chain. To take advantage of staking we have developed a MobieBridge that lets you convert your Stellar-based MBX tokens to the Ethereum-based wMBX ERC20 format. Once in ERC20 format, your tokens are ready for staking. To learn more about how to convert your MBX to wMBX check out this article.
The secure Mobie blockchain exchange from MBX to wMBX is made possible with our advanced proprietary technology. It’s a simple process that takes just moments of your time to initiate. All you need is a Mobie wallet and an Ethereum wallet. Once you have converted your assets to wMBX, you’re ready to stake them.
How Mobie’s wMBX Standard Staking Works
Standard staking earns an outstanding 35% APY in tokens when you stake over a 90-day term.
Mobie is making standard staking accessible to everyone at the 35% APY rate. That means that anyone who wishes to participate can stake up to 8 million wMBX for the 90-day period and have the benefit of a 35% APY (8.75% over the term) on their staked tokens.
You can use standard staking starting on April 1, 2021. Staking will stay open until the 350 million wMBX pool is filled.
There is no minimum, and you will receive a 35% APY in tokens as long as you stake for the whole 90-day term (8.75% over the term). If you decide to withdraw your tokens after the minimum 30 days but before the full 90 day term, your APY will drop to 20% for the time you are staked.
VIP staking earns even more with a 45% APY in tokens over the same 90-days.
How Mobie’s VIP wMBX Staking Works
Mobie is also offering a limited pool of VIP staking opportunity that is completely first-come, first-serve. This very limited offer, with a pool size of 150 million tokens, yields a 45% APY in tokens over the 90-day term (11.25% over the term). If you decide to withdraw your tokens after the minimum 30 days but before the full 90 day term, your APY will drop to 25% for the time you are staked.
There is no minimum contribution for VIP staking; the VIP pool has an individual contribution cap of 5 million wMBX at this special rate.
The pool is also much smaller for VIP staking and is capped at 150 million wMBX.
Mobie’s Initial wMBX Staking Just the Beginning
This initial staking opportunity with Mobie is just the beginning, you are truly contributing to the future of the Mobie ecosystem when you stake your wMBX today. Staking part of the circulating supply may also help support the long-term token value within the ecosystem.
With Mobie, there’s, even more, to get excited about. We are obsessed with finding ways to make money matter. Storing your currency with us is as rewarding as it gets. Mobie is creating an open community based on trust, authenticity, and inclusion.
Mobie is working to pay it forward every day, and we are committed to improving financial access through a decentralized financial system and a true sharing economy.
Stake your MBX on the Ethereum network with Ferrum and reap rewards while supporting the growth of the community.
