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Along with a superb infrastructure, a blockchain wants numerous certified initiatives to develop, and Harmony is an instance of a sequence with at the very least one extremely promising sport in its ecosystem.
In line with Footprint Analytics, Concord presently ranks twenty first in TVL for blockchains. Its TVL rose 529% in only one quarter to $753 million as of December 26, largely as a result of reputation of GameFi venture DeFi Kingdoms (or DFK), which makes up 50% of Concord’s TVL.
Footprint Analytics: Harmony TVL
Concord even surpassed Ethereum and BSC when it comes to quantity within the GameFi sector within the final seven days. Ronin, an Ethereum sidechain constructed particularly for Axie Infinity, and WAX, a gaming-focused chain, additionally did not outperform Concord.
Footprint Analytics: Volume of GameFi by Chain & Game (7D)
Concord: Quick out of the beginning block
Concord, the mainnet of which went stay in June 2019, goals to construct a extremely scalable, safe and low-energy chain based mostly on a sharding structure. Footprint Analytics explored how Concord plans to beat the challenges different initiatives have confronted with sharding expertise in Will Concord Be the Subsequent Chain with 10x Development?
Concord’s energetic GameFi initiatives are DFK and Freyala, with DFK accounting for 98% of their TVL.
Footprint Analytics: Harmony GameFi Balance
Whereas Axie Infinity has been the benchmark for GameFi initiatives and as soon as led the business with its play-to-earn mannequin, DFK has outperformed Axie Infinity when it comes to quantity for 10 days in a row beginning December 17.
Footprint Analytics: Top GameFi Ranking (10D)
What precisely is DeFi Kingdoms?
DFK, a play-to-earn sport launched on the Concord chain on August 23, is a nostalgic pixelated kingdom containing video games, DEXs, liquidity swimming pools and NFT marketplaces. The staff goals to mix parts of DeFi right into a extra enjoyable and synergistic sport that may be performed like a sport with each day quests to improve to extend rewards and accumulate uncommon NFTs.
Supply: DeFi Kingdoms
Some areas that DFK gamers can presently go to are the Portal, Docks, Tavern, Market, Gardens, Financial institution, Meditation Circle, and Wishing Properly.
DFK is a closely DeFi-centric venture at this level, with a a lot emphasis on in-game clothes. The event staff introduced it’s planning extra attention-grabbing modules sooner or later, akin to lands, pets, buildings, gear, guilds, PvE (Participant versus Surroundings) and PvP (Participant versus Participant).
How DKF Combines Gaming and DeFi
DFK gamifies capabilities one usually sees on an change akin to Uniswap by tying them to totally different areas within the kingdom, thereby making DeFi investing extra enjoyable.
- Market: Gamers can swap tokens.
- Gardens: Gamers can add liquidity to make LPs to earn charges from different customers when changing tokens and mine the platform token, JEWEL.
Supply: DeFi Kingdoms
JEWELs could be harvested in two states, Locked and Unlocked. The variety of JEWELs that may be unlocked will increase over time. The quantity of JEWELs unlocked and locked is determined by the “epoch”—or assortment of blocks—the reward belongs to. Every epoch has 302,400 blocks, and if every block has a pace of two seconds, it will take one week to unlock an epoch.
After epoch 51 (estimated to be in Q3 2022), no new rewards shall be locked and locked JEWELs will start to be unlocked slowly. They’re estimated to be absolutely unlocked in Q3 2023.
When a person needs to take away liquidity, DFK will cost a withdrawal price based mostly on the size of time held. The minimal price shall be 0.01% for deposits over 4 epochs, and the utmost price shall be a 25% slashing price for withdrawals inside the similar block, acknowledged within the official docs.. Withdrawal charges and locked rewards are in-built to assist DFK retain its worth somewhat than change into purely a automobile for hypothesis.
The Financial institution permits customers to stake forex. Customers can stake a single token, JEWEL, as a voucher to obtain xJEWEL. JEWEL is used as the first token for in-game each day transactions, and xJEWEL because the governance token could have entry to neighborhood airdrops and different rewards.
The Financial institution’s income comes from one-third of the person’s transaction charges within the sport, so there is no such thing as a fastened APY and there shall be extra income when the sport releases necessary occasions. After depositing JEWEL, the ratio of JEWEL to xJEWEL will maintain rising, in order that when customers take JEWEL out of the Financial institution, they’ll at all times obtain extra JEWEL than after they put it in.
In contrast to JEWELs obtained in a Backyard, JEWELs obtained in a Financial institution would not have lock-up intervals or withdrawal charges, very like conventional financial institution demand deposits.
In addition to DEX-related parts, NFT “Heroes” are a central a part of DFK, the place they serve not solely as NFT collectibles, but additionally as a method for customers to earn extra JEWELs. IN the longer term, DFK gameplay will revolve round Heroes.
Customers should purchase, promote or lease heroes in Tavern, summon Heroes within the Portal, do quests within the Wishing Properly, and degree up heroes in Meditation Circle.
Heroes could be categorised by genes, rarities, professions and ranks. Totally different heroes obtain totally different rewards when performing actions, might harvest totally different ranges of NFTs and JEWEL, and may degree up their characters.
Associated Token
There are 4 tokens presently within the sport.
ONE is a local token of Concord and is principally used to pay transaction gas charges. With out ONE, it’s unimaginable to carry out any actions in DFK, and a price is paid when choosing the avatar and identify at creation.
It’s the main token of DFK and is used for many in-game transactions, akin to buying Heroes, gear, props, and many others. It may be gained by means of liquidity mining or straight by means of swap.
xJEWEL is the governance token of DFK, obtained by staking JEWEL within the Financial institution.
A sure variety of DFKTEARS are required to summon a Hero, which could be obtained by quests at Wishing Properly or by straight swapping.
With the rise of DFK, the value of the first token JEWEL has gone as much as about $14. The worth of DFKTEARS has plummeted to only $0.05.
Footprint Analytics: Token Price
Abstract
DFK has grown to over 20,000 customers as by December 26, simply 4 months since its launch, in accordance with Footprint Analytics.
Footprint Analytics: DFK Volume VS User
In comparison with Axie, DFK focuses extra on finance and token technology than gameplay. Whereas Axie seems like a sport with a crypto investing side, DFK seems like a crypto funding platform changed into a fantasy RPG.
The playability of a game-focus venture is the important thing to maintain avid gamers keep. For DFK, its nature of DeFi can obtain this objective.
Each transaction on the blockchain must eat gas charges in order that there won’t be a very free sport like the standard sport, at the moment the GameFi has been inseparable from the monetary properties. GameFi’s imbalance at both finish of the Sport and Finance won’t assist long-term development.
Nevertheless, the builders of DFK are laborious at work iterating on new sport parts to boost gameplay, making the venture much less like a gamified DEX and extra like a standard RPG. In the event that they succeed, the venture appears to be like to have a promising future, as does Concord blockchain which hosts it.
What’s Footprint?
Footprint Analytics is an all-in-one evaluation platform to visualise blockchain knowledge and uncover insights. It cleans and integrates on-chain knowledge so customers of any expertise degree can shortly begin researching tokens, initiatives and protocols. With over a thousand dashboard templates plus a drag-and-drop interface, anybody can construct their very own custom-made charts in minutes. Uncover blockchain knowledge and make investments smarter with Footprint.
Footprint Web site: https://www.footprint.network
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Twitter: https://twitter.com/Footprint_DeFi
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Disclaimer: The views and opinions expressed by the creator shouldn’t be thought-about as monetary recommendation. We don’t give recommendation on monetary merchandise.
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