Activate the creature with Elemental Mastery attached by tapping it, creating a number of 1/1 Elemental creature tokens with haste equal to its power.
Activate Phyrexian Altar by sacrificing an Elemental.
When the Elemental dies as an artifact due to Encroaching Mycosynth, Dross Scorpion triggers, untapping the creature with Elemental Mastery attached.
Repeat.
This loop relies on the clever synergy between Encroaching Mycosynth turning all your permanents—including your creature tokens—into artifacts, which in turn allows Dross Scorpion to watch them perish. Once you tap your enchanted creature using Elemental Mastery to generate a hoard of hasty Elemental tokens, you can feed them directly into Phyrexian Altar for colored mana. Because Encroaching Mycosynth makes those tokens artifacts upon death, Dross Scorpion triggers and untaps your creature, letting you repeat the process to generate infinite mana and an endless army of tokens.