Along with infrastructure, a blockchain wants numerous certified initiatives to develop, and Harmony is an instance of a sequence with a minimum of one extremely promising sport in its ecosystem.
In line with Footprint Analytics, Concord at the moment ranks twenty first in TVL for blockchains. Its TVL rose 529% in only one quarter to $753 million as of December 26, largely because of the reputation of GameFi mission 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 reside 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 lively 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 crew goals to mix parts of DeFi right into a extra enjoyable and synergistic sport that may be performed like a sport with day by day quests to improve to extend rewards and acquire uncommon NFTs.
Supply: DeFi Kingdoms
Some areas that DFK gamers can at the moment go to are the Portal, Docks, Tavern, Market, Gardens, Financial institution, Meditation Circle, and Wishing Effectively.
DFK is a closely DeFi-centric mission at this level, with a a lot emphasis on in-game clothes. The event crew introduced it’s planning extra attention-grabbing modules sooner or later, similar to lands, pets, buildings, gear, guilds, PvE (Participant versus Surroundings) and PvP (Participant versus Participant).
How DKF Combines Gaming and DeFi
DFK gamifies features one usually sees on an trade similar 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 will depend on the “epoch”—or assortment of blocks—the reward belongs to. Every epoch has 302,400 blocks, and if every block has a velocity of two seconds, it could take one week to unlock an epoch.
After epoch 51 (estimated to be in Q3 2022), no new rewards will likely be locked and locked JEWELs will start to be unlocked slowly. They’re estimated to be absolutely unlocked in Q3 2023.
When a consumer needs to take away liquidity, DFK will cost a withdrawal charge based mostly on the size of time held. The minimal charge will likely be 0.01% for deposits over 4 epochs, and the utmost charge will likely be a 25% slashing charge for withdrawals throughout the identical block, acknowledged within the official docs.. Withdrawal charges and locked rewards are inbuilt to assist DFK retain its worth fairly than turn into purely a car for hypothesis.
The Financial institution permits customers to stake foreign money. Customers can stake a single token, JEWEL, as a voucher to obtain xJEWEL. JEWEL is used as the first token for in-game day by day transactions, and xJEWEL because the governance token can have entry to neighborhood airdrops and different rewards.
The Financial institution’s income comes from one-third of the consumer’s transaction charges within the sport, so there is no such thing as a fastened APY and there will likely be extra income when the sport releases vital occasions. After depositing JEWEL, the ratio of JEWEL to xJEWEL will preserve rising, in order that when customers take JEWEL out of the Financial institution, they are going to all the time obtain extra JEWEL than after they put it in.
In contrast to JEWELs obtained in a Backyard, JEWELs obtained in a Financial institution don’t have lock-up durations or withdrawal charges, very like conventional financial institution demand deposits.
Moreover DEX-related parts, NFT “Heroes” are a central a part of DFK, the place they serve not solely as NFT collectibles, but in addition as a method for customers to earn extra JEWELs. IN the long run, DFK gameplay will revolve round Heroes.
Customers should buy, promote or hire heroes in Tavern, summon Heroes within the Portal, do quests within the Wishing Effectively, and stage 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, could harvest totally different ranges of NFTs and JEWEL, and may also stage up their characters.
Associated Token
There are 4 tokens at the moment within the sport.
ONE is a local token of Concord and is principally used to pay transaction gas charges. With out ONE, it’s not possible to carry out any actions in DFK, and a charge is paid when deciding on the avatar and identify at creation.
It’s the main token of DFK and is used for many in-game transactions, similar to buying Heroes, gear, props, and many others. It may be gained by way of liquidity mining or instantly by way 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 Effectively or by instantly 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 simply $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, based on Footprint Analytics.
Footprint Analytics: DFK Volume VS User
In comparison with Axie, DFK focuses extra on finance and token era than gameplay. Whereas Axie looks like a sport with a crypto investing facet, DFK looks like a crypto funding platform become a fantasy RPG.
The playability of a game-focus mission is the important thing to maintain avid gamers keep. For DFK, its nature of DeFi can obtain this aim.
Each transaction on the blockchain must eat gas charges in order that there is not going to be a very free sport like the normal sport, presently the GameFi has been inseparable from the monetary properties. GameFi’s imbalance at both finish of the Sport and Finance is not going to assist long-term development.
Nevertheless, the builders of DFK are onerous at work iterating on new sport parts to boost gameplay, making the mission much less like a gamified DEX and extra like a standard RPG. In the event that they succeed, the mission appears 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 information and uncover insights. It cleans and integrates on-chain information so customers of any expertise stage 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 information and make investments smarter with Footprint.
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Disclaimer: The views and opinions expressed by the writer shouldn’t be thought-about as monetary recommendation. We don’t give recommendation on monetary merchandise.
