HomeCoinsAltcoinsWhat Is DeFi Kingdoms? - CryptosRus

What Is DeFi Kingdoms? – CryptosRus

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DeFi Kingdoms is gaining traction as Harmony’s biggest Play-To-Earn blockchain game. Learn more about the project that could potentially overthrow Axie Infinity in the GameFi space.

Covered:

  • What Is DeFi Kingdoms?
  • How Does DeFi Kingdoms Work?
  • Partners & Team
  • Tokenomics

DeFi Kingdom's Map

What Is DeFi Kingdoms?

Defi Kingdoms (DFK) is a play-to-earn game on Harmony set in a pixelated world. This browser-based game comes equipped with a decentralized exchange (DEX), a liquidity pool (LP), and utility-driven NFTs. Gamers can use their Hero NFT to go on quests, stake tokens in the bank, garden to participate in the liquidity pool, and more.

It is currently one of the most significant projects on Harmony and is now expanding to the Avalanche blockchain. The growing DeFi kingdoms game is a serious challenger to Axie Infinity’s GameFi Supremacy.

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How Does DeFi Kingdoms Work?

DFK is still in development. However, there are already fully functional features that gamers can participate in with the ONE and JEWEL tokens. ONE is required for gas fees during in-game transactions. JEWEL is the native token required to buy in-game items and complete specific tasks. Gamers have to go to particular locations or talk to specific individuals to complete a task. 

  • Marketplace: This is the DEX of the game. It is quite an important place since JEWEL can only be traded here. Gamers can interact with the “trader” to swap different tokens for JEWEL. 
  • Bank: This is where JEWEL can be staked for xJEWEL. The bank rewards you with a number of xJEWEL equal to the JEWEL you deposited divided by the Bank Ratio at the time. This process ensures that one xJEWEL always equals more than one JEWEL. 
  • Garden: This is the game’s liquidity pool where gamers can stake a pair of two tokens (JEWEL + Token of Choice) to gain rewards. 
  • Tavern (Not Open Yet): The NFT marketplace where gamers can buy their Hero NFTs to play the game. 
  • Portal (Not Open Yet): Once a Hero is purchased, gamers can summon their Heroes with JEWEL here.

DeFi Kingdom's Heroes

Hero NFTs

Still being developed, Hero NFTs will be the central part of the gameplay. Gamers do not need a Hero to participate in the Marketplace, Bank, or Garden. However, Hero NFTs are required to participate in quests, engage in professions, and fight in PVP. Each Hero has specific stats, profession, rarity, class, subclass, element, gender, and more. Additionally, Hero NFTs of a particular generation can be combined to create a new Hero.

As mentioned above, Heroes are NFTs that can be bought in the Tavern and summoned at the Portal. Each Hero will require a specific amount of JEWELs and Tears (in-game crystals) to be summoned. 

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Partners and Team

The 12 team members at the DFK are transparent yet anonymous. Team members have their wallet addresses, and social media handles public. However, they go by nicknames such as Frisky Fox, Professor Tango, and Jericho Splendershoes, while no one knows who they are. 

Artemis Protocol, a multi-product Defi protocol on Harmony, has partnered with DeFi Kingdoms to act as a launchpad and bootstrap the project. In addition, DFK has also been audited by Solidity Finance

DeFi Kingdom's Native Token: JEWEL

Tokenomics:

As mentioned, JEWEL is the currency of DFK, and it is a native token on the Harmony blockchain. JEWEL can only be purchased in-game at the Marketplace. ONE token is needed to start playing the game and pay gas fees. 

For every JEWEL transaction, a percentage of JEWEL is portioned to be deposited into the bank to reward xJEWEL holders, added into the community treasury, returned as quest rewards, and funded to development cost. Apart from in-game uses, JEWEL is also a governance token for holders to have a say in the project’s growth. 

The JEWEL token has a hard cap of 500,000,000 tokens. Among that, 10,000,000 JEWEL tokens were pre-minted and distributed as follows:

  • 5,000,000 JEWEL: Allocated to fund the future development of the game. 
  • 2,000,000 JEWEL: Allocated to promote the project, including marketing, airdrops, etc. 
  • 2,000,000 JEWEL: Allocated for initial liquidity. 
  • 1,000,000 JEWEL: Allocated for bounties and hours for the founding team based on their work towards launch. 

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Concerns:

DFK has been growing and surpassing many milestones. With that said, the biggest issue is that the team is still anonymous. This game is one of the biggest projects on Harmony, yet there is a lack of partnerships. Additionally, the gameplay is still in development. Therefore, gamers can only purchase tokens, participate in staking and liquidity pools. With so many blockchain projects with an anonymous team turning into rug pulls, one always has to take precautions. However, if the gameplay is successful, DFK can easily take over the GameFi space.

Where To Buy JEWEL and ONE?

JEWEL can only be purchased in-game. However, you can purchase Harmony’s ONE token through KuCoin exchange, similar to how you would buy another cryptocurrency. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately. If you are interested in purchasing ONE, you can do so by visiting KuCoin or Gate.io.

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