🗓️Official AMA 05-31-2022
Venue：Telegram Official | Voice AMA | Host: Eden Speaker: Nina、Dr.z | Duration：60minutes
Host: Welcome to the third official AMA of NBOX, thank you for your continuous attention and support to NBOX, the development of NBOX cannot be separated from every NBOXers! Since we have just announced the economic model, in order to better answer players' questions, this AMA will focus on the economic model (Fi) by Dr. Z
NBOX Big Steps Review in May
AMA timeline:16th May-24th May-31th May
Thanks for you guys' support, we have made some important breakthroughs these days. First of all, we held our official AMA successfully, and try our best to solve our players questions. We found so many old players who always support NBOX and never miss any big event of NBOX. I'd like to say, thank you guys, you guys make NBOX now. Besides, we created a new Philippines telegram group and we found more and more Philippines players join us and show their enthusiasm. There are also so many guilds and Youtubers making a review video for us and inviting their friends into our community. We are so grateful. In this month, we also added one new partnership- Dapp radar. We can see we have ranked NO.22 in BNB chain-Games section-7d part.
However, the most important thing is that we start our mining on 24th May! Did everyone see the production? By the way, it seems we will finish our initial mining today. Is that right? It seems we will get 1.2 times production during the initial mining.Actually, I put 180 BUSD in N-Guard and I got 420 NBOX token in this week. It seems I will get my money back within the next 2 months. That's so exciting.
NBOX Future Plan
I believe that so many players are looking forward to our Buy back Event, right? Here, I'd like to say we will not delay this event, and start to buy back from 30th June. As for the mechanism, here, I can only say a little about that. We will buy back at least 20% of players total circulation NBOX token.Besides, maybe everyone will expect and ask when will NBOX list on exchange. We can say there, after we buy back, we will list NBOX on DEX. So don't worry, everything is under our control.
NBOX Games
Thanks for you guys support. I think after the last 2 AMA, we will show whatever we can show you guys. And we are still working on that and see in which way we can bring you guys an extremely exciting experience. But anyway, I will show you something different. Today, I will show you 2 scenes in our games.
Twitter Questions - Q1: If 100 billion NBOX cannot be mined in 5 years, what will happen to the rest?
When treating all players as one, the returning of investment at any time point can be precisely predicted base on the figure shown below as well as in the white paper. While since no one can predict how many players will join the game and how will they invest, we definitely cannot say their total returns will be exact 100B in 5 years, and realistically speaking, it will be pretty much likely a much smaller number.
While we do promise all 100B NBOX will be minted in 5 year term. Please refer to the white paper (or the same figure below), there is a “lower bound curve” to restrict the total up-to-date production. That means, we will mint at least that many of tokens no matter how the investment and returning curve goes. That ensures in 5 year time, there will be absolutely no more NBOX.
But the key is that, whenever we mint more coins than what is required to return, Fi will burn the remaining coins immediately after they are minted on daily basis. So it will no more inflation at all in addition to the original returning plan. Basically, relatively more or less tokens will be actually given to players for more or less investment, fairly. And all the rest will be burned.
Twitter Questions - Q2: Staking is one of the strategies to attract users and hold them and long term. Does your great project have plan about to staking?
The Fi affects NBOX liquidity by “depositing” mechanism. The deposits release 1% of its balance on daily basis (please refer to the white paper). And the Fi gives depositing a significant leverage especially when the market price is lower then “ideal”. Let’s say at one year time point after opening, that is, t=0.2, the “ideal price” shall be 0.136 BUSD/NBOX. If the actual market price at the time drops to as low as 0.034 BUSD/NBOX, then the “regulator factor” will be 0.034/0.136=0.25, and the contribution booster of depositing (“earth”) will rise to 3.5X! And even more, considering the “bonus” part of daily yield rises along with the regulator as well, the actual combined factor of “depositing” will be almost 6.1X higher than normal. That means depositing will have a huge advantage in distributing of dialy yield of coins.
Twitter Questions - Q3: When will the "auto deposit" start? How does it work exactly?
Auto deposit mechanism will start working along with the next major release in about 2 weeks time. The details are as following:
There is a portion of daily collected coins going to deposits automatically.
The actual % of auto depositing is calculated by the “regulator factor” as explained above. For example, at one year time point after opening (t=0.2), the “ideal price” shall be 0.136 BUSD/NBOX, and:
If the actual market price drops to 0.068 BUSD/NBOX, the regulator will be 0.5, then up to 75% of daily income will go to deposits.
If the actual market price rises to 0.272 BUSD/NBOX, the regulator will be 2.0, then only 25% of daily income will go to deposits.
Please note that this % only applies to today’s income. It doesn’t affect existing NBOX in your wallet.
And you may always do pneuma upgrading by NBOX coins regardless if they are in depositing or not.
Twitter Questions - Q4: What's your plan if crypto goes to 0?
The team’s own interests also highly reply on the long term price value of the NBox that we will mine. That we designed a very sophisticated mechanism to react to market price vibration. In short, Fi regulates, strongly, all by algorithms, not any human.
The general idea is that the distributions and weights of all effective factors we listed in the white paper (hashrate, contribution elements of Fire, Earth, Wind & Aqua), are not pre-determined nor constant. They are regulated, adjusted by the real-time market price of NBox. When price goes lower then expected (regulator < 1), Fi shifts to the favor of “daily participation” rather than player’s existing hashrate. More specifically, “Deposit” and the pneuma-upgrading by NBOX gets significant higher boost factors, to encourage players to lock or consume more NBox coins.
Please note that the “expected price” keeps raising from Fi’s point of view. Thus, by shift the leverage of supply-and-demand, we expect it will help stabilize and even raise the price, at least in some degree.
In a word, players don’t need to do too much when the price is good, while when it’s not good, participation will helps a player significantly, especially depositing and upgrading.
In addition to these, we will introduce a long term auto buy-back mechanism sometime after opening the NBOX-trading in DEX. The mechanism will be driven completely by algorithm and smart contract that will be open to public with all the details, just stay tuned!
Live Questions - Q1: What is more vulurable for team？The game part or crypto Part?
Very good questions! We are very confident with both parts. In terms of algorithm, we have a very professional technical team and algorithm team to support us, as we just updated the white paper, we have made public the algorithm fi part, which will be a long term plan. For the game part, we will follow the roadmap and gradually disclose it to everyone, so everyone please stay tuned!
Live Questions - Q2: NBOX is a one-step platform for gamers, cryptocurrency enthusiasts and NFT lovers. But many of the projects are the same as yours, so how is yours different from the others?
NBOX is indeed an aggregation platform for GameFi, cryptocurrency and NFT enthusiasts. This is our original intention to build an NBOX-verse ecosystem. The content covered is rich and we need to make it in the long term, but the team will take a solid step by step.
Unlike those products that are launched after preparing a white paper, NBOX has done enough market research and technical reserves in the early stage, and every goal on our roadmap is strictly determined and achieved on schedule, including the official website on schedule, the pre-sale on schedule, the open pre-upgrade on May 17 and the opening of the mine on May 24, as well as the internal testing of the game before the 3rd quarter, we will achieve everything on schedule. The basis of the success of Dapp products is consensus and mutual trust, and the team will not allow plans to change overnight. The videos and posters you see now are all public until our project is deployed to a certain level. As a long-term development project, we rely on the team's sincerity and efforts, as well as your support.
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