Meshbox Biweekly Report (2020.10.17 – 2020.10.30)

The first batch of MBOX Non-Fungible-Tokens (NFTs), which represent the tokenization of MeshBox hardware will soon be offered for swap.  Owners of the MBOX NFTs may then choose to stake their MBOX for DeFi Yield Farming. The miners of the first mining pool will receive rewards, notoriety and asset allocation rights. In terms of rewards, the MeshBox will set up mining pools with a steady stream of rewards, and the number of tokens to be mined is considerable.  In terms of notoriety, the liquidity providers not only play the role of “miners”, they also become “Founding Members” of the global decentralized Internet. Early holders can enjoy a portion of the mining rewards from successive mining pools.  In terms of asset allocation rights, MBOX owners can trade their NFTs, and thus enjoy more liquidity.  Note that persons and entities in USA, China, and Singapore, are NOT eligible to participate in the MBOX NFT swap, and subsequently the MeshBox Yield Farming process.  Interested participants will undergo a KYC process to enforce such eligibility.

Recently, Huobi held an online and live celebration for its 7th anniversary. The event featured industry elites to discuss the opportunities and development potential possible via blockchain technology. Professor David Lee and Mr. Henry Wang, consultants of MeshBox, were invited to participate. Professor David Lee was invited to participate in the “Unlimited Future – 2020 Blockchain Great Navigation Era” Industry Summit and the 7th Anniversary Online Summit held by Huobi from October 27 to October 28, and talked with the Huobi Chief Operating Officer, Mr. Jiawei Zhu. Mr. Henry Wang was invited by Huobi Group to participate in the live event of “Going with Fire, Zunyi Journey”.

The following is our recent work in detail:

Software development

1. Added Meshbox Squid Web file cache support

2. Fixed the abnormal problem of br_netfilter module in the core

software test

new version update:

 

MeshBox-Maxwell     v1.2.5.92

MeshBox-Tesla          v2.2.5.923

MeshBox-Turing        v3.2.5.924

 

Cooperated on debugging Squid; the debugged version has taken effect and needs to be optimized

Fix device abnormality caused by netfilter

 

Hardware

The Philippines NTC certification of MeshBox-Tesla has been completed, which means that MeshBox has obtained the qualification for commercial deployment in the Philippines.

The file sharing function in the MeshBox-Tesla LAN has been basically completed, and debugging has been completed. After optimization, WiFi guest users can play video files stored on the Meshbox (or stored on the external hard disk connected to the USB port and SATA port) when using the APP player on the mobile phone.

  1. The specific work of marketing is as follows:

After staking their MBOX NFT, the owner owner becomes a MeshBox Yield Farmer (MYF). The MYF mines MESH from the first, Genesis, mining pool and enjoys rewards, identity and asset allocation rights. Note that persons and entities in USA, China, and Singapore, are NOT eligible to participate in the MBOX NFT swap, and subsequently the MeshBox Yield Farming process.  Interested participants will undergo a KYC process to enforce such eligibility.

 

  • In terms of rewards, here are details of the MESH Yield which each MYF will receive as part of the Yield Farming process, using their staked MBOX NFT.
  • The (first) Genesis DeFi mining pool has 86,700,000 MESH, and will be mined for the duration of the next 6,000,000 Spectrum blocks
  • The Spectrum blockchain generates a new block every 14s nominally, with a nominal 6171 blocks (=60 sec/min * 60 min/hour * 24 hours/day / 14 seconds per block) per day.Thus, 6,000,000 blocks correspond to approximately 2.66 years).
  • The Launch Event encompasses a total of 85 MBOX NFTs, which correspond to 85 Alpha production MeshBoxes with a required swap of 2000 USDT per MeshBox.The total Yield of each MBOX for Genesis batch is 1,020,000 MESH (=86,700,000 MESH/85 MBOX), and the Yield is distributed as each Spectrum blocks is generated. The Yield of each blocktime for each MBOX is 0.17 MESH (=1,020,000 MESH /6,000,000 total block times), with a daily Yield of approximately 1049.07 MESH (= 0.17 MESH * 6171 blocks per day).
  • The second (Beta) production batches of MeshBoxes will also undergo a similar MBOX NFT offering, as well as the choice for yield farming. 10% of the total MESH in the second DeFi mining pool (number TBD) will be allocated to the MBOX of the first (Genesis) mining pool, and the remaining 90% will be allocated to the MBOX in this second mining pool.The mining rules are similar to that of the first mining Pool.
  • For the third batch (Gamma) of MeshBoxes to be manufactured, in the corresponding third DeFi mining pool, 5% of the total MESH will be allocated to the MBOX of the first mining pool, 5% will be allocated to the MBOX of the second mining pool, and the remaining 90% will be allocated to this third mining pool.
  • Continuing, in successive MeshBox manufacturing batches, and the corresponding mining pool N will always allocate 10% of the total MESH in that mining pool to the previous N-1 mining pools, so that previous generations earn additional Yield, and the remaining 90% will be allocated to mining pool N.

Therefore, the earlier (MBOX NFT batch) one becomes an MYF and enters the mining pool, the higher the overall Yield.

 

  • In terms of identity, the MYF liquidity providers are not just “miners” anymore, they also become the “Founding-Members” of the global decentralized Internet. The first 10,000 MBOX NFT owners are given the title of “Founding-Member”.  The early mining pools will enjoy part of the mining income of each successive pool in the future. For example: if MBOX NFT liquidity providers are ranked by generation, then there will be founding parent, founding child, and founding grandchild.  For Miners with founding-parent qualifications, their MBOX NFT assets not only generate income from the first mining pool, also generate income from the second, third, fourth, etc., mining pools. The sooner one becomes a liquidity provider, the more mining pools one is be able to enter.

 

  • In terms of asset allocation rights, the MBOX NFTs can be traded, enabling more liquidity. If one is already a Founding Member, when one doesn’t want to continue to mine, one can trade their MBOX in the market for tokens.

 

  1. Recently, Huobi held an online and live celebration for its 7th anniversary. The event featured industry elites to discuss the opportunities and development potential possible via by blockchain technology. MeshBox consultants Professor David Lee and Mr. Henry Wang were invited to participate in online and live activities.

 

  1. Professor David Lee was invited to participate in the “Unlimited Future-2020 Blockchain Great Navigation Era” Industry Summit and the 7th Anniversary Online Summit held by Huobi from October 27 to October 28. In the theme section of the summit “The Beginning of Hongmeng, the Rise of the Blockchain World and the View of the Forerunners”, Professor David Lee had a conversation with the Huobi Chief Operating Officer, Mr. Jiawei Zhu, discussed about the many problems in combining blockchain technology with traditional financial; and the development of digital economics.

 

Professor David Lee made it very straight forward that the greatest value of blockchain is the ability to change society. “As far as technology is concerned, blockchain is actually not complicated. Satoshi Nakamoto uses blockchain technology to change the way we think, and then we can bring 60% of the world’s people who do not use the banking system into a new economic structure.” Professor Lee emphasized the importance of the blockchain-based Mesh network in inclusive communications during the conversation.

(2) MeshBox consultant, Mr. Henry Wang, was invited by Huobi Group to participate in the live event of “Going with Fire, Zunyi Journey”.

(3) The MeshBox global team is actively promoting the construction of global communities and preparing for the MeshBox MBOX NFT Swap and subsequent MBOX NFT Staking for DeFi Yield Farming.  At this stage, the number of global communities (Telegram Group: @MeshBoxIO) continues to grow, and follow-up activities are also planned.

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