We’ve had a spectacular 2021 growth season that’s also brought many rich people from GameFi. Most of the projects that day have died out, but there are still valuable projects that still exist and are still developing today. The example we want to talk about today is DeFi Kingdoms of the Harmony network. So what is DeFi Kingdoms? Let’s find out through the article below.
To better understand the article What DeFi Kingdoms is, people can refer to some of the projects below to get an overview of DeFi Kingdoms.
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DeFi Kingdoms Overview
What is DeFi Kingdoms?
DeFi Kingdoms is a browser-based Blockchain game that combines several DeFi elements in an engaging way. Its gaming elements combine DEX, NFT Marketplace and Liquidity Pool, all in fantasy pixel form.
The DFK team wants to exploit the full potential of Blockchain in the form of games and create synergies between games and decentralized finance. DFK uses the veToken mechanism developed by Curve to optimize in-game liquidity.
August 2021 launched on Harmony, March 2022 launched Crystalvale on the DFK chain, on the Avalanche subnet and moved Serendale to the Klaytn chain.
The DeFi Kingdoms difference
- By combining DeFi functions with gaming elements. It’s a huge difference from countless other games that help bring out the natural feel on DFK.
- Its DEX uses Uniswap V2’s protocol to enable swaps and become a liquidity provider and earn fees from transactions.
- Liquidity tokens can be staked within The Gardens, with users receiving tokens to purchase NFTs. Each garden is a unique liquidity pair and the yield is moved into storage.
How to join
- Step 1: Join one of two DeFi realms: Serendale and Crystalvale.
- Step 2: Stake JEWEL to receive cJEWEL or sJEWEL
- Step 3: Use LP tokens to buy NFTs and Pets, Heroes.
Development roadmap
The project was launched in September 2021 and quickly became one of the most successful GameFi combined DeFi projects at that time. DeFi Kingdom’s development journey is divided into a number of important milestones.
Phase 1: Startup
- DeFi Kingdoms was launched in September 2021 on the Harmony Blockchain platform.
- The project quickly attracted the attention of the community and became one of the most successful GameFi projects at that time.
- Key features of DeFi Kingdoms during this period include: DEX – AMM platform that helps users trade tokens on the Harmony network, Gardens – Platform that allows users to stake different tokens to earn profits and NFT Marketplace – Where users can buy and sell NFTs in the game.
Phase 2: Development
- During this period, DeFi Kingdoms added many new features, including Bank – Lending & Borrowing Platform, Forge – Mechanism for minting NFTs from raw materials, and Quests – Quest system for players.
- In addition, DeFi Kingdoms has also developed related projects such as JewelSwap – an AMM platform dedicated to JEWEL tokens and Crystalvale – A new world in DeFi Kingdoms with new features and mechanisms
Stage 3: Growth
- During this period, DeFi Kingdoms continued to grow and expand its ecosystem. The project has announced plans to develop new features such as Staking and Farming for NFT assets, Fighting Games,…
- Additionally, DeFi Kingdoms also made the move to Avalanche in July 2023.
Core Team
DeFi Kingdoms is developed by Kingdom Studios. The team operates anonymously under names such as: Dreamer (President/Revenue Director), Frisky Fox (Co-founder/Blockchain Director) and Beetle Dude – Application Director.
Investor
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Tokenomics
Overview information about JEWEL token
- Token Name: DeFi Kingdoms
- Ticker: JEWEL.
- Blockchain: Harmony
- Token Standard: HRC
- Contract: 0x72cb10c6bfa5624dd07ef608027e366bd690048f
- Token Type: Utility.
- Total Supply: 125,000,000 JEWEL
Token Allocations
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Token Release
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Token Usecase
JEWEL tokens, in addition to being used for transaction costs, also have administrative functions and upgrades (Power-Ups) in the game.
Exchanges
Users can trade JEWEL on several exchanges such as MEXC, CoinEx,…
Information channel of DeFi Kingdoms
- Twitter: https://twitter.com/DefiKingdoms
- Discord: https://discord.com/invite/kARBQuMAhS
- Telegram:
Summary
With existing products, has the DeFi Kingdoms project met the necessary needs for the GameFi market to be mass adapted? Above is all the latest information about the project that Weakhand has updated. Please leave your comments below in the comments section.