Monkey Ball Crypto (MBC) is a cryptocurrency that is associated with Monkey Ball, a play-to-earn game that combines soccer and monkeys. Monkey Ball is a web3 sports game that allows players to create, play, compete, and earn MBC tokens. In this article, we will explain what Monkey Ball Crypto is, how it works, and what its potential is.
What is Monkey Ball Crypto?
Monkey Ball Crypto is the native token of Monkey Ball, a decentralized gaming platform that uses the Solana blockchain. Monkey Ball is a strategy-based soccer game that features cute and quirky monkey players with unique skills and perks. Players can scout, breed, train, and trade their monkey players, as well as form teams and compete in leagues and tournaments.
Monkey Ball Crypto is used for various purposes on the platform, such as:
- Governance: MBC holders can participate in the governance of the platform, such as proposing and voting on changes or upgrades.
- Staking: MBC holders can stake their tokens on the platform to receive sMBC tokens, which are synthetic tokens that have governance rights and other benefits.
- Liquidity mining: MBC holders can provide liquidity to one of the supported pools on SushiSwap or Orca and receive LP tokens in return. These LP tokens can then be staked on the platform to earn MBC rewards.
- Borrowing: MBC holders can borrow Magic Internet Money (MIM), a USD-pegged stablecoin, from abracadabra.money using their MBC tokens as collateral. MIM can be used for various purposes, such as trading, investing, or spending.
- Redeeming: MBC holders can redeem their MBC tokens for their underlying collateral tokens and pay a redemption fee. A portion of this fee is used to buy back MBC from the market and distribute it to the redeemers as a reward.
MBC has a total supply of 1 billion tokens, of which 200 million are currently in circulation. The remaining 800 million are allocated for future rewards and incentives. The emission rate of MBC is determined by the governance process and can be adjusted according to the needs of the platform.
How does Monkey Ball Crypto work?
Monkey Ball Crypto works as an incentive and utility token for the Monkey Ball platform. Users can earn MBC by doing one or more of the following activities:
- Playing: Users can play matches on the platform and earn MBC based on their performance and achievements. Users can also earn XP and level up their monkey players to unlock new skills and perks.
- Breeding: Users can breed their monkey players on the platform and create new monkey players with unique DNA and traits. Users can also sell or trade their monkey players on the marketplace or use them for playing or staking.
- Staking: Users can stake their MBC or sMBC tokens on the platform and receive rewards in MBC or other tokens. Users can also stake their LP tokens or open leveraged farming positions using borrowed MIM.
- Referring: Users can refer other users to join the platform and earn a percentage of their earnings in MBC.
What is the potential of Monkey Ball Crypto?
Monkey Ball Crypto has a lot of potential as a reward token for a play-to-earn game that combines soccer and monkeys. Some of the factors that could drive the demand and value of MBC are:
- Innovation and adoption: Monkey Ball is one of the first platforms to use the Solana blockchain, which enables fast, cheap, and scalable transactions and smart contracts. Monkey Ball also uses the Kashi Lending Technology developed by SushiSwap, which allows for isolated lending markets that can support any token pair with adjustable risk parameters. Moreover, Monkey Ball also offers yield farming opportunities, where users can stake their LP tokens or open leveraged farming positions using borrowed MIM. These features could attract more users and liquidity to the platform and increase the usage and utility of MBC.
- Diversity and opportunity: Monkey Ball offers a variety of gameplay modes and options that cater to different preferences and skill levels. For example, users can choose between player vs environment (PvE), player vs player (PvP), or team vs team (TvT) modes. Users can also choose between different leagues and tournaments with different rules and rewards. Users can also customize their monkey players with different appearances, skills, perks, and accessories. These options could create more demand and value for MBC as a reward and utility token.
- Resilience and potential: Monkey Ball has proven to be resilient and adaptable in the face of various challenges and crises. For example, Monkey Ball has survived multiple hacks, exploits, forks, splits, crashes, and bear markets in its history. Monkey Ball has also shown remarkable recoveries and growths after each setback. For example, MBC has increased from less than $0.01 in October 2021 to more than $0.04 in January 2022. Moreover, Monkey Ball has the potential to disrupt and transform various aspects of the gaming and sports industry, such as entertainment, competition, and monetization.
Conclusion
Monkey Ball Crypto is a reward token for a play-to-earn game that combines soccer and monkeys. MBC is used for governance, staking, liquidity mining, borrowing, and redeeming on the platform. MBC has a lot of potential as a reward token for a play-to-earn game that supports various gameplay modes and options. MBC could benefit from the innovation, adoption, diversity, opportunity, resilience, and potential of the Monkey Ball platform.