Full description of DeFi Kingdoms
DeFi Kingdoms is a play-to-earn game launched on August 22, 2021 as a DEX. It is built on the Harmony
Blockchain (?) with a native
Coin (?) ONE and offers an online world in the nostalgic form of fantasy pixel art. The team’s key goal was to build a
DeFi (Decentralized Finance) (?) project that would embrace the full potential of the blockchain and to create a game where players would be able to invest and make a profit. With that, DeFi Kingdoms aims to make
Decentralized (?) Finance (DeFi) secure and accessible to everybody.
To protect the project’s funds from hacking attacks the team relies on a multi-signature
Wallet (?) Harmony which requires 3 of the 4 signatures made by the 4 founding members to complete a transaction. Besides, all transactions are 100% transparent, and it is possible to view all their details before their execution, as well as the data of each past transaction. Moreover, the platform has been audited by Solidity Finance.
The DeFi Kingdoms ecosystem includes a game, an exchange, a native token, hero Non-Fungible Tokens (NFTs), and a liquidity pool. The decentralized
Exchange (or Cryptocurrency exchange) (?) is based on the Uniswap V2 protocol and allows swapping the native platform’s
Token (?) JEWEL to a variety of other assets. The platform’s liquidity pool creates JEWEL LP tokens in return for JEWEL and gives access to liquidity farming pools.
DeFi Kingdoms offers users unique NFTs with several types of built-in utility: Heroes, Equipment, and Kingdoms. Heroes represent one of the key features in the game. They are playable characters who protect the gardens, mine JEWEL tokens even locked ones, and forage for resources. Hero NFTs can be bought, traded, combined, and leveled up. Equipment is a feature coming in the first quarter of 2022, which will allow users to create their own outfits for the heroes.
DeFi Kingdom’s features
The game provides players with some impressive features including Gardens, Bank, and Land.
Gardens enable players to earn more JEWEL by
Staking (?) LP tokens. After harvesting or unlocking tokens, gardeners deposits their yield in the vault representing their share of JEWEL tokens in the mined block. Another feature of DeFi Kingdoms is the Bank, where you can stake JEWEL tokens to receive xJEWEL shares and earn staking bonuses. The Bank also stores commissions from the DEX and buys JEWEL tokens on the market. Users can purchase land to build their own kingdom where they can gather the necessary resources and add improvements.
The DeFi Kingdoms token
The JEWEL is the DeFi Kingdoms native token built on the Harmony ONE platform. It was launched in August 2021 with the total supply capped at 500,000,000 coins.
10 million JEWEL tokens were pre-minted. Out of that supply, 5 million coins were locked in the future development fund to be released on schedule as functions get completed. 2 million JEWEL tokens were reserved for promotion campaigns, marketing, airdrops, etc. They are also locked and are meant to be released slowly over the next few years so that the project always has the funds to promote the game and attract new participants. Another 2 million coins were set aside to be matched with ONE tokens and form the initial ONE/JEWEL liquidity pool. The remaining 1 million JEWEL was reserved to reward the founding team for their work on the launch.
JEWEL allows players to earn actual tradeable tokens instead of just investing in the game. Players can provide liquidity for the chosen tokens and earn rewards when somebody trades them. LP tokens can also be staked to earn JEWEL.
To prevent fraud only recipients with a profile of a required time of existence can get JEWEL tokens through an incoming transaction. In addition, the token is protected by anti-whale logic that
Limits (?) the number of tokens that can be transferred at a time.
JEWEL utility cases
Apart from being a monetary token, JEWEL also provides value to its holders in many other ways. The JEWEL token can be utilized to purchase various in-game items, NFTs, and in-game buffs. It can also be used for liquidity
Mining (?) bringing benefit to users through staking. Finally, JEWEL is a governance token allowing its holders to take part in voting and making decisions about the platform’s improvements and the project’s future.
Users can buy JEWEL at the Marketplace with ONE or Harmony's other tokens. It is also available for spot trading on Defi Kingdoms and Harmony ONE against a range of tokens such as WONE, WETH, WBTC, BUSD, UST, USDC, USDT, and some others.
The xJEWEL token
xJEWEL is a DFK's governance token. Players can deposit JEWEL tokens to the Bank and receive xJEWEL shares, which in turn earn profit from every JEWEL in-game transaction.
The trading fees on the platform are extremely low as they make up just a fraction of a cent allowing users to earn rewards instantly. Revenue from each JEWEL transaction is allocated in the following way: one portion is put to the Bank deposit to reward xJEWEL holders, another portion is returned to the community treasury to serve as quest rewards, and part of the funds is spent on the network’s development.
The DeFi Kingdoms team
Defi Kingdoms has a dedicated passionate team that shares a vision of DeFi available to everyone. However, the team prefers to remain anonymous and not reveal their real names as all team members work under pseudonyms.
Frisky Fox is a Solidity and React developer who has worked on the game’s interface, analytics, and API servers. Defi Kingdoms is his brainchild, and he was the one who pushed the discussion of its mechanics forward. Professor Tango is a project leader of the developers. Jericho Splendershoes is a technical writer and developer who worked on the white paper and other documents. He also programmed most of the front-end part of the game. Admiral Omicron is a React Developer who has worked on the game and DEX interface in React. Tadakichi is a game developer with 10+ years of experience. Hubert Cumberdale is a specialist who has created all the game mechanics.
- Exchange symbol (?): JEWEL
- Cryptocurrency type (?): Token (?)
DeFi Kingdoms for developers
DeFi Kingdoms social sites
Source: NOMICS
