Introduction
DeFi Kingdoms combines a powerful DeFi protocol with a cross-chain, play-to-earn game. It offers a fantasy RPG world where players can interact with DeFi features such as swapping tokens, providing liquidity, and trading NFTs. This allows players to have a fun and engaging experience while also earning incentives through their involvement in the game’s economy.
Overview
The DeFi protocol is built on the Uniswap V2 Protocol, and has the native tokens JEWEL, CRYSTAL, and JADE for different functions such as gas, governance, and power-ups. The network also has a governance system, where token holders can have a say in the future direction of the game and the protocol.
DeFi Kingdoms network strives to offer a distinctive and engaging experience for players who can have fun with the adventure and also get rewards for their participation in the game’s economy.
DeFi Kingdoms is a multi-chain network that operates on three blockchains – DFK Chain, Klaytn, and Harmony – and offers players the choice to access different blockchain features, such as fees, speed, and security, while playing a pixel art fantasy RPG world.
DeFi Kingdoms also incorporates various DeFi elements, such as a decentralized exchange, liquidity pools, staking, governance, and NFTs, into its gameplay. Players can manage heroes, explore realms, swap tokens, provide liquidity, stake for rewards, and trade NFTs in a game that leverages the full potential of the blockchain.
DeFi Kingdoms is constantly evolving and adding new features, systems, maps, and cross-chain gameplay, making it one of the most innovative and immersive blockchain games in the market.
Background
DeFi Kingdoms emerged from a visionary quest to bridge the chasm between traditional gaming and the burgeoning world of decentralized finance (DeFi). Its odyssey began in the fertile ground of 2020, amidst the explosive growth of DeFi protocols.
Recognizing the untapped potential, the game’s creators envisioned a realm where players could not only embark on captivating adventures but also actively participate in the DeFi ecosystem. This fusion of entertainment and financial empowerment became the cornerstone of DeFi Kingdoms.
Fueled by this innovative vision, the project’s development commenced in September 2020. The core team diligently focused on crafting engaging gameplay mechanics while seamlessly integrating powerful DeFi tools into the pixelated world.
Their dedication culminated in the launch of the Alpha version on the Harmony blockchain in August 2021. This momentous event marked the opening of a new frontier in gaming, offering players an immersive experience unlike any other.
The launch of the Crystalvale realm on DFK Chain in March 2022 and the subsequent migration of the Serendale realm to the Klaytn blockchain in December 2022 demonstrate the team’s unwavering commitment to scalability and performance optimization.
These strategic decisions ensure a seamless and enjoyable experience for players, regardless of their preferred blockchain platform.
Today, DeFi Kingdoms thrives thanks to a vibrant community of passionate gamers and DeFi enthusiasts. The dedicated team, driven by user feedback and unwavering support, continues to develop innovative features and updates, ensuring the game’s sustained growth and evolution.
Tokenomics
JEWEL is the native token of DeFi Kingdoms, a cross-chain metaverse game. It has a hard cap of 125,000,000 tokens, which have all been created and are either in circulation or burned. Some tokens are still in a vesting contract. JEWEL is a scarce and deflationary asset, as it is constantly burned by game actions and DFK Chain transactions.
On September 1 2022, the community voted to end JEWEL emissions on Harmony and lock the remaining JEWEL on that chain forever. At that point, there were about 112.9 million JEWEL unlocked and about 283.6 million JEWEL locked on Harmony.
The locked JEWEL was replaced by CRYSTAL, JADE and JEWEL on Crystalvale and Serendale 2.0, which were airdropped to the eligible holders when Serendale 2.0 launched.
The airdropped tokens were vested according to the original schedule that started on September 24 2022(Harmony Block #31,772,767). As of March 20 2023, the airdrop and vesting were complete.
The locked JEWEL on Harmony was redistributed as different tokens on DFK Chain and Klaytn, after the Splittening event that reduced the maximum supply of JEWEL to 125,000,000.
– The redistribution followed these percentages:
– Locked CRYSTAL: 44.07342236579% (DFK Chain)
– Locked JADE: 44.07342236579% (Klaytn)
– Vested JADE: 5.806824466532% (Klaytn)
– Vested JEWEL: 4.283393907257% (DFK Chain)
– Liquid JADE: 1.762936894631% (Klaytn)
About 12.1 million JEWEL was put in a vesting contract on DFK Chain for one year. Of this, about 1.7 million JEWEL went to the Development Fund and about 59,000 JEWEL went to the Jeweler, based on the team and contract balances on Harmony. The rest, about 10.4 million JEWEL, went to individual holders.
Use cases of JEWEL token
Governance: JEWEL grants players a powerful voice in shaping DeFi Kingdoms’ future. By holding JEWEL, they vote on proposals, ensuring the game evolves to their preferences, fostering a sense of community ownership.
Summoning Heroes: Players use JEWEL to summon new heroes, expanding their options and unlocking strategic possibilities. This reliance on JEWEL incentivizes players to engage with the game’s economy, boosting its overall health.
Purchasing NFTS: JEWEL fuels DeFi Kingdoms’ NFT marketplace, allowing players to own valuable in-game assets like heroes, pets, and land. These NFTs offer unique benefits and enhance gameplay, empowering players to actively participate in the burgeoning DeFi Kingdoms NFT economy.
Staking and Liquidity Mining: Contributing to staking pools grants additional JEWEL rewards, while providing liquidity to the DeFi Kingdoms ecosystem through liquidity mining offers further JEWEL rewards in recognition of their contributions to stability. These options allow players to earn passively and contribute to the overall health of the DeFi Kingdoms economy.
In-Game Transactions: JEWEL underpins the smooth and efficient operation of DeFi Kingdoms, serving as the central currency for various in-game transactions. Players use JEWEL to level up their heroes, purchase equipment, and pay marketplace fees, seamlessly facilitating their gameplay experience. This reliance on JEWEL for transactions further solidifies its position as the essential economic driver of the DeFi Kingdoms ecosystem.
Marketplace fees: DeFi Kingdoms’ vibrant marketplace thrives on JEWEL, with a portion of every transaction paid in this essential token. This not only contributes to the value and sustainability of JEWEL, but also incentivizes players to actively engage in the marketplace. As players participate in buying and selling, they fuel the ecosystem’s growth and contribute to its continued success. This self-sustaining economic model ensures a thriving marketplace where players can acquire valuable assets and drive the growth of DeFi Kingdoms.
Features and Functionality
- Decentralized Exchange (DEX): Swapping tokens, providing liquidity, and earning rewards in JEWEL, CRYSTAL, and JADE tokens are seamlessly integrated into the DeFi Kingdoms experience.
- Hero (NFTs): In the vibrant world of DeFi Kingdoms, you navigate through the landscape as a unique hero NFT. Each hero boasts distinct stats, abilities, and class, making them valuable assets in your journey. Through leveling, equipping gear, and embarking on quests, you can unlock your hero’s true potential and reap bountiful rewards.
- Gardens: Here, you can cultivate your JEWEL tokens by staking them to reap rewards. The longer you cultivate, the greater your yield. Additionally, participation in liquidity pools unlocks further rewards, enriching your DeFi Kingdoms journey.
- Summoning: Unleash the potential for rare and powerful heroes with the unique summoning feature. Here, you can fuse the genetic traits of two existing heroes, creating an entirely new character with potentially unmatched abilities.
- Kingdoms: Forge your own haven within the DeFi Kingdoms universe by claiming and developing your own Kingdom. These player-owned parcels of land offer an exciting opportunity to generate resources, construct diverse structures, and secure passive income streams. While still under development, Kingdoms hold immense potential to become a cornerstone of the DeFi Kingdoms ecosystem.
- Crystalvale: Embrace the wonders of Crystalvale, a captivating new realm recently unveiled within DeFi Kingdoms. Here, your adventures continue with the introduction of CRYSTAL, a novel token alongside the familiar JEWEL. Embark on exciting quests, encounter captivating heroes, and gather unique resources to unlock the secrets of this vibrant land. Crystalvale awaits with thrilling possibilities, offering a fresh perspective on your DeFi Kingdoms journey.
- Quests: Embark on thrilling quests and test your skills in the world of DeFi Kingdoms. These challenges offer a diverse range of objectives, from vanquishing formidable foes to gathering valuable resources. By completing these tasks, you’ll not only gain valuable rewards but also witness your heroes grow in power and prowess.
- Pets: Enrich your adventures with loyal companions in the form of pets. These charming creatures offer a multitude of buffs and bonuses, enhancing your abilities and granting you a strategic advantage as you explore the vibrant world of DeFi Kingdoms. Bond with your pet, witness its unique personality unfold, and unlock its hidden potential to become an invaluable asset on your journey.
- Multi-player combat: Prepare for the thrill of real-time player battles, a feature in development that promises to revolutionize the DeFi Kingdoms experience. This exciting addition will introduce a new dimension of competition and strategic depth, allowing players to test their skills against each other in dynamic, real-time encounters. Hone your abilities, strategize meticulously, and prepare to face your fellow heroes in the ultimate test of prowess. The future of DeFi Kingdoms beckons with the promise of exhilarating, real-time battles!
Advantages of Defi Kingdoms
- It allows players to create and trade unique NFTs called Heroes, which have different attributes, classes, and skills. These Heroes can be used for summoning, questing, and combat, earning rewards and experience in the process.
- It uses the Harmony One blockchain, which offers fast and low-cost transactions, as well as cross-chain compatibility with other networks such as Ethereum and Binance Smart Chain.
- It integrates the UniswapV2 Protocol, which provides liquidity and trading opportunities for both players and investors. The native token of the game, JEWEL, can be used for various functions such as staking, governance, and marketplace fees.
- It features a rich and immersive pixel art world, with two realms to explore, each with their own resources, zones, and objectives. The game also has a roadmap for future updates and expansions, such as new maps, systems, and cross-chain gameplay.
- It leverages the potential of blockchain gaming to create a sustainable, community-driven, and profitable ecosystem. Players can earn money by playing the game, while also contributing to the development and governance of the project.
Risks and Challenges
- Like any DeFi protocol, DeFi Kingdoms relies on smart contracts, which are complex pieces of code susceptible to vulnerabilities. Exploits could lead to loss of funds or manipulation of the game economy.
- The long-term viability of DeFi Kingdoms hinges on its ability to maintain a sustainable economic model. Fluctuations in token prices and potential inflation could discourage users and negatively impact the game’s health.
- As a decentralized platform, DeFi Kingdoms relies on individual users to manage their own assets and data. This poses security risks, such as phishing attacks or social engineering attempts, and raises privacy concerns regarding user data collection and usage.
- The evolving regulatory landscape surrounding DeFi presents significant challenges for protocols like DeFi Kingdoms. Regulatory action could limit its functionality or even lead to its shutdown in certain jurisdictions.
- Maintaining a healthy and engaging game experience is critical for DeFi Kingdoms’ long-term success. Balancing gameplay mechanics, ensuring sufficient content updates, and addressing bugs and glitches are ongoing challenges.
How They Address These Challenges
- Audits: DeFi Kingdoms has undergone multiple audits by reputable firms, aiming to identify and address potential vulnerabilities. The protocol also actively encourages ethical hackers to discover and report vulnerabilities, offering rewards for responsible disclosure.
- Tokenomics Design: The JEWEL token distribution is carefully designed to incentivize long-term holding and participation in the game’s economy.
- Burn Mechanisms: Mechanisms exist to burn JEWEL tokens, reducing overall supply and potentially increasing value over time.
- Compliance Focus: The team actively monitors regulatory developments and strives to comply with applicable regulations.
- Experienced Team: The team comprises experienced game developers committed to delivering a high-quality and engaging gaming experience.
How Defi Kingdom is Secured
DeFi Kingdoms thrives as a vibrant and innovative platform thanks to its strategic selection of underlying frameworks. Let’s delve deeper into the key components that contribute to its success:
– Harmony Blockchain: A Foundation for Speed and Scalability
The bedrock upon which DeFi Kingdoms is built is the Harmony blockchain. This network boasts efficient Proof-of-Stake (EPoS) consensus, allowing for lightning-fast transaction speeds and remarkably low gas fees. This translates directly to a seamless and enjoyable user experience within the game, particularly crucial for high-throughput scenarios. Furthermore, Harmony’s innovative sharding technology distributes the network load across multiple shards, further enhancing scalability and facilitating the smooth operation of DeFi Kingdoms’ complex ecosystem.
– Chainlink Oracles: Unlocking Transparency and Fairness
DeFi Kingdoms seamlessly integrates Chainlink oracles, a vital tool for accessing real-world data and triggering pre-defined actions. This integration serves several critical functions:
– Price Feeds: Chainlink ensures accurate and decentralized price feeds for various assets within the game. This facilitates fair and transparent trading, essential for maintaining a healthy and balanced in-game economy.
– Randomness Generation: Chainlink provides a verifiable source of randomness for crucial game mechanics like hero summoning and loot drops. This prevents manipulation and ensures a fair and unpredictable experience for all players.
– Off-chain Data Integration: By leveraging Chainlink, DeFi Kingdoms can utilize external data feeds for a diverse range of purposes. This allows for triggering specific events or updating game variables based on real-world occurrences, further enriching the player experience.
– JavaScript SDK: Empowering Developers and Users
DeFi Kingdoms utilizes a custom JavaScript SDK specifically tailored for front-end development and user interaction. Key features of the SDK include:
– Wallet Integration: Facilitates smooth integration with popular Web3 wallets like MetaMask and WalletConnect, ensuring secure and convenient access for users.
– Game Logic and UI: Enables developers to implement various game mechanics, user interfaces, and functionalities, shaping the interactive landscape of DeFi Kingdoms.
– Data Access and Manipulation: Provides developers with tools to interact with smart contracts, retrieve crucial data, and trigger actions within the game environment, allowing for dynamic and responsive interactions.
Beyond the Core: Additional Components
DeFi Kingdoms incorporates various other libraries and tools alongside its core frameworks. These include game engines like Unity for rendering captivating graphics and animations, as well as additional libraries for sound design, networking, and user authentication. Together, these components coalesce to create a robust and scalable foundation for DeFi Kingdoms, fostering its unique blend of gaming and DeFi functionalities.
Conclusion
DeFi Kingdoms is a groundbreaking fusion of play-to-earn gaming and decentralized finance built upon the Harmony blockchain. It offers a unique and immersive experience where players can embark on thrilling adventures, gather resources, and build their own kingdoms, all while earning rewards through DeFi mechanisms. By combining the excitement of gaming with the potential for financial gain, DeFi Kingdoms has positioned itself as a leader in the evolving landscape of blockchain technology.
Sources:
https://defikingdoms.com/
https://docs.defikingdoms.com/https://spintop.network/gamepedia/games/defi-kingdoms
https://medium.com/defi-kingdoms-official/defi-kingdoms-announces-defi-kingdoms-blockchain-2d51333b1e4e
https://dappradar.com/blog/defi-kingdoms-launching-own-dfk-blockchain-to-improve-game-experience
https://defireport.io/defi/defi-kingdoms-introduced-defi-kingdoms-blockchain/
