What is DeFi Kingdoms?

Tiempo de lectura: 6 minutos

Gamification” is a concept that day by day continues to gain a preponderant space and the team behind DeFi Kingdoms understood it like few others.

This concept invites us to perform everyday tasks in a fun way, involving us in them through interactivity. It makes use of an innate characteristic of human beings, who are instinctively attracted to games.

In this article, I will analyze the DeFi Kingdoms platform. I invite you to discover what it is all about and why it is taking Decentralized Finance to a new level, hand in hand with gamification.

What is DeFi Kingdoms?

When we talk about DeFi Kingdoms we refer to a platform whose main function is to be a “decentralized exchange”. It is clear then, that its primary objective is to facilitate the exchange of our cryptocurrencies in a decentralized way.

In second place, gaining more and more importance every day, we find a NFT platform. These non-fungible tokens are used for “gamification” related purposes, which allow us to perform the typical interactions we have in other DeFi platforms, while playing.

DeFi Kingdoms is on the Harmony network. This blockchain, whose analysis you can find in this article, provides immediate transfers and almost non-existent costs. Clearly, we are on the right ground to deploy such a platform.

 

Some numbers about DeFi Kingdoms

Harmony’s network, is in a boom moment, seeing the arrival of different consolidated platforms in other Ethereum compatible networks, but it has its own workhorses.

Of course, in DeFi Kingdoms, we find one of them. To date, we are talking about the most important decentralized exchange on the network, with a total of 1 trillion dollars locked or deposited on the platform.

The growth of this interactive DEX is impressive and, to a large extent, it is due to its unique proposition. Let’s understand what I mean.

What do we find in DeFi Kingdoms?

Its name says it all, in English we would understand it as “The Kingdom of DeFi” or “The Kingdom of Decentralized Finance”, and indeed it is.

When we enter the platform, after authorizing the connection to our wallet, we will find the image that you can see below this section and an appropriate music that will accompany us in our adventure. A map that, to those who already have some decades, will remind them of games like “Legend of Zelda”, where an ineffable hero traveled through a virtual world interacting with other characters and fulfilling his noble mission.

 

The world map

In DeFi Kingdoms, something similar happens, but the ultimate intention is to interact with this ecosystem known as Decentralized Finance. So, instead of entering a static page in which we select the currency we have, the amount and for which we want to exchange it, here the question becomes playful.

We dive into a metaverse of yesteryear and take our cursor to click on the “Marketplace”. Once there, we will find a character called “trader” and interacting with him we will be able to make the desired exchanges of our cryptocurrencies. All this happens while the epic music, typical of games of this style, accompanies us in every movement.

 

NFT in DeFi Kingdoms

But beyond the map of DeFi Kingdoms, we will find other places where we can enter and perform novel interactions. You will be surprised by a “Tavern”, where you will find an agent, in charge of the trade of the “Heroes”.

These characters, obviously represented by NFT, are the focus on which the action of the game is centered. Beyond the commercialization of these NFT within the map, the “Heroes” in DeFi Kingdoms, fulfill special missions that do nothing but enhance the goodness of the DeFi world.

After this brief introduction, let’s move on to the analysis of the map and its different options.

¿Qué es DeFi Kingdoms?

Interacting with DeFi Kingdoms

Now, having painted the first sketches of this decentralized application, let’s look at the world map and see what we find in each of the different options it offers.

 

Marketplace

Let’s start with the main function. In this site we find three characters:

    • The trader 

As I already mentioned, it is in charge of facilitating the exchange or “swap” of cryptocurrencies. The offer is very interesting and is facilitated by the liquidity pools.

    • The Druid

Here we find the character that facilitates the creation or investment in existing liquidity pools. When we lock our currency pair in a pool, we will be contributing to the liquidity of the DEX, but benefiting from an interesting APY (annual percentage yield), plus a 0.2% corresponding to the fees paid on each trade made in the pool.

In exchange for our participation, we will receive an LP token, known as a “seed” on the platform.

    • The Vendor

Its title says it all. The seller is in charge of facilitating the purchase and sale of items. We will find, among other things, potions that will help to improve our “Heroes”…

It goes without saying that the currency used here is Jewel, the DeFi Kingdoms governance token.

 

The Tavern

The tavern is a special place no matter what map we are talking about and here is no exception. Let’s review which characters we meet here and what is their activity.

    • The NFT Agent

The broker is a highly sought-after professional in the game. This is the person to turn to when trading NFTs. As anticipated, these NFTs represent the famous “Heroes”.

These characters are the main focus around which the DeFi Kingdoms universe revolves. With prices ranging from 32 Jewel and up to 76000 Jewel, the heroes are traded by the participants of the game.

What is important, beyond aesthetic preferences, are the characteristics they have. The “Heroes” are sent by their holders to perform missions, which allow them to boost their earnings, not only provided in Jewel, but also in other tradable NFTs.

    • The Barkeep

Always, we find someone who keeps the records, and in DeFi Kingdoms it is this character. By interacting with him, we will be able to know the latest movements in the market of Heroes and observe even those that are not for sale.

 

The Bank

As it could not be otherwise, this institution fulfills similar functions to the banks of the traditional world. Here we meet a character called “Teller” and by interacting with him we can deposit our Jewel, expecting, at the moment, a return that represents a third of the transaction fees generated.

In other words, here we can staking Jewel. In exchange we will receive a token called xJewel which will be in charge of capturing the value that we will obtain.

 

Professions

In this section, is where our Heroes come into action. We will be offered four different types of missions, all represented by characters to interact with.

So we will see a fisherman, a gatherer, a miner and a gardener. The characteristics of our heroes will give them a better chance of success in one of these four quests. These quests have a time limit, during which our NFT will be blocked and a certain amount of our Hero’s energy will be consumed.

As a reward, we will be able to obtain new Jewel units.

 

Gardens

The gardens are where we will be able to plant our seeds and reap their benefits. If you remember correctly, when we contributed liquidity to a pool in the “Marketplace” section, we were buying seeds. Well, this is where we stake our LP tokens and reap our profits.

 

Meditation Circle

It may sound strange, but in this map we will find a meditation circle. Here the music changes and generates the right environment for our Heroes to advance in level, which helps us to enhance their abilities when facing missions.

 

The Portal

The portal is the place you go to when you want to get your hands on a new Hero without buying it. You will have to interact with two friendly characters that will help you in this adventure.

To summon a new Hero, you must have two Heroes or just one, as the “Arch Druid” can help you rent one.

Tras una interacción mágica de tus Héroes, obtendrás “lágrimas de Gaia” y deberás aportar la cantidad necesaria de Jewel, para atraer un nuevo Héroe, desde tierras lejanas.

¿Qué es DeFi Kingdoms?

El roadmap de DeFi Kingdoms

Undoubtedly, the narrow limits of this article will not allow me to include absolutely every single part that makes up this platform and its future. But, it is impossible for me to say goodbye without mentioning the big milestone that the team promises for this year.

I started by saying that Harmony, with its fast and cheap transactions, is the ideal ground for this game. Anyway, we cannot deny that the decision of this team to bring the platform to the Avalanche network is the next necessary step.

Avalanche, an Ethereum virtual machine compatible network, will drive DeFi Kingdoms’ exposure to exponential growth.

We are talking about a network that, in terms of total value locked, is 12 times larger than Harmony and has most of the DeFi platforms enshrined in Ethereum. 

It will be prudent to keep an eye out for news on the DeFi Kingdoms expansion on Avalanche and watch the results of what, it is hoped, will be a highly successful move.

A look ahead

Those who analyze and propose hypothetical scenarios about our ecosystem usually focus on two main topics. Interoperability and “gamification”. It is clear that DeFi Kingdoms complies with both.

Beyond the opinion of the experts, I believe that this platform meets a quality that is difficult to achieve in the DeFi ecosystem. It is about having a governance token with real utility and that users want to have.

The experience of doing a simple swap on DeFi Kingdoms speaks for itself. The largest decentralized exchange on the Harmony network plans to bring its world map to Avalanche.

Today it’s all growth and celebrations for DeFi Kingdoms. We’ll see where and when this application finds its ceiling, if it has one….


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