(*Updated*) Spawning and Upgrading Mount

When upgrading Wings, Mounts or morphing Pets, Lucky Stars earned will vary from every attempt with a random increase on the Star Bar. A failed attempt might give you nothing or whole bar of lucky star. However, my opinion is that lucky star doesn't matter at all. It only gives the player a motivation to go further. It actually counts the number of your attempts. But upgrading always comes under chance basis like any other online games, meaning you can upgrade an item in a single try if you are feeling lucky. 
Baby Turtle
Mounts will give you tremendous amount of stat boost on you characters Health, Attack, Defense, Healing and Movement speed. The principal mounts are Baby Turtle which can be obtained by completing lvl 15 optional quest or purchasing it in Miscellaneous vendor at Starglade, Rabid Raccoon which can be obtained by completing lvl 30 optional quest or purchasing it in Miscellaneous vendor at Aurora Point, Battle Stallion which can be obtained by completing lvl 45 optional quest or purchasing it in Miscellaneous vendor at Bloodfang 

The materials that are needed to upgrade mounts are: Mount Upgrade Token for semi-rare mounts, Greater Mount Upgrade Token for rare mounts and Therion for very-rare mounts. Mount Upgrade Token (MUT) are dropped by dungeons boss, Greater Mount Upgrade Token (GMUT) can only be obtain in event rewards and purchasable in item mall while Therion are event rewards only.


Semi-Rare Mounts

Panther
Requires Turtle,
Mount Upgrade Token x5

3 Tries

HP:  +2.6%
Attck: +2.0%
Def: +2.7%
Heal: +2.3%
Movement Speed: 210
Battle Bear
Requires Battle Horse,
Mount Upgrade Token x24

12 Tries

HP:  +13.2%
Attck: +10.2%
Def: +13.7%
Heal: +11.7%
Movement Speed: 230
 
Mythical Scorpion
Requires Rabid Racoon,
Mount Upgrade Token x12

6 Tries 

HP:  +6.6%
Attck: +5.1%
Def: +6.8%
Heal: +5.9%
Movement Speed: 220

Rare Mounts

Hellwing
Requires Gryphon,
Greater Mount
Upgrade Token x40

25-30 Tries

HP:  +54%
Attck: +42%
Def: +46%
Heal: +58%
Movement Speed: 260
Gorilla Titan
Requires Bear,
Greater Mount
Upgrade Token x36

15-20 Tries

HP:  +26.3%
Attck: +20.7%
Def: +27.3%
Heal: +23.4%
Movement Speed: 240
Gryphon
Requires Gorilla,
GreaterMount
Upgrade Token x38

20-25 Tries

HP:  +40.5%
Attck: +31.5%
Def: +42%
Heal: +36%
Movement Speed: 250


Rare Mounts

Gilded Battle Stallion
Requires Hellwing,
Greater Mount
Upgrade Token x42

18 Tries

HP:  +64.1%
Attck: +48.4.7%
Def: +66.7%
Heal: +56.4%
Movement Speed: 265
Kilin
Requires Gilded Battle Stallion,
Greater Mount
Upgrade Token x44

23 Tries

HP:  +74.1%
Attck: +55.4.7%
Def: +77.3%
Heal: +64.8%
Movement Speed: 270

Mounts can also be leveled to boost the bonus stats that it will add to your character. Just open your Mount panel and feed him with Purified Crystal. This material is a drop from dungeon boss, however, if you are 5 levels higher than the level of the boss drop rate is negatively affected.

The maximum level of a mount is 20, the higher the level the higher stat boost it gives. I recommend you to level up Hellwing or Great Phoenix only, since these will be your final mount. The amount of Purified Crystal you need in every level is the product of the mount current level and the amount of Purified Crystal needed in every attempt. For example, Hellwing needs 27 Purified Crystal in every attempt. Therefore, you need 5,130 Purified Crystal to reach level 20 Hellwing which will give you the following stat boosts:

HP:  +74.5%
Attck: +57.9%
Def: +77.2%
Heal: +66.2%
Movement Speed: 260

Players are also wondering why their Mount has lower stat boost than other player's mount, even though they have the same type of mount and level. Because there is another way to increase the stat boost of your mount, by using Normal Mount Food which adds 5 aptitude to your mount. 

Very-Rare Mounts
(2 Person Mounts)

Seiryu
Requires White Tiger,
75 Therion

100% Spawn Rate

HP:  +55.8%
Attck: +43.4%
Def: +57.9%
Heal: +49.6%
Movement Speed: 260
Genbu
10 Therion


100% Spawn Rate

HP:  +12.5%
Attck: +9.7%
Def: +13.0%
Heal: +11.1%
Movement Speed: 220
White Tiger
Requires Genbu,
Hellwing, 25 Therion

100% Spawn Rate

HP:  +20.9%
Attck: +16.2%
Def: +21.7%
Heal: +18.6%
Movement Speed: 240

Great Phoenix
Requires Seiryu,
150 Therion

100% Spawn Rate

Lvl. 1                                          Lvl.20
HP: +84.1%                               HP: +116.0%
Attck: +65.4%                          Attck: +90.2%
Def: +87.3                                 Def: +120.4%
Heal: +74.8%                            Heal: +103.2%
Movement Speed: 280           Movement Speed: 280

Tips: A total of 260 Therion are needed to spawn Great Phoenix. And Hellwing  has  better stat boost than the first three 2-Mount Person mount.