DeFi Kingdom (JEWEL)

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:
• Aka DFK
• From Our Network (20-11-2021):

"Built on Harmony, the GameFi platform combines DeFi elements (decentralized exchanges, liquidity pools and staking) with an elaborate NFT-based hero system."

Audits & Exploits

• Bug bounty program can be found [insert here].

Governance

Admin Keys

• From the docs (28-12-2021):

"Our funds are secured in a multi-sig wallet at multisig.harmony.one. These wallets will be controlled by 4 founding members of the project, and any transaction will require 3 out of 4 signatures to execute.

Founding Member Addresses:

1. Frisky Fox: 0x17D717EB3DD20a202dce9e8e396A444db1Af1D28
2. Sinstar Necro: 0xA76Ea4f96136AF0fF23e7CC426Bfc21E451ff9f5
3. Jericho Splendershoes: 0x2b45C2dF1E982E596137d49A02afC02B9fb8B8dB
4. Admiral Omicron: 0x19612e015E6bC4f5C7ba122bd4acA23646414b72 "

Token

Token Allocation

• The JEWEL token has a hard cap of 500,000,000 tokens. From the docs:

"10,000,000 JEWEL tokens will be be pre-minted and distributed as follows:

1. 5,000,000 JEWEL: Allocated to fund the future development of the game. These tokens will be time-locked and release over a set schedule as features are completed.
2. 2,000,000 JEWEL: Allocated for promotion of the project, including marketing, airdrops, etc. These tokens are also time-locked to release slowly over the next few years, to ensure that there are always funds available to market the game and acquire new players and investors.
3. 2,000,000 JEWEL: Allocated for initial liquidity. These tokens will be matched with ONE tokens to form the initial liquidity pool and will not be withdrawn or sold.
4. 1,000,000 JEWEL: Allocated for bounties and hours for the founding team based on their work towards launch. Half of these will be awarded at launch, and the other half will vest over time."

Utility

• From The Defiant (15-12-2021):

"JEWEL is a fungible token that can be used to buy in-game NFTs, staked in something called the Bank where it accrues fees from DFK’s DEX and JEWEL transactions, as well as for voting in governance."

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Harmony, plans to deploy on Avalanche (15-12-2021).

How it works

• From Ansem's Q1 report (1-1-2022):

"The two main features of DFK are its’ decentralized exchange where you can trade various crypto assets, and their hero NFTs that you can use to summon other heroes, do quests, and eventually compete against other players in PVP. Their in-game economy and hero NFTs benefit users more than any other ecosystem that I’ve seen so far."

• From The Defiant (15-12-2021):

"DeFi Kingdom is expanding the definition of NFTs by offering its version of the tokens, called Heroes. They are playable characters that go on quests to earn tokens. In contrast with static NFT, Heroes gain experience through these adventures and can be equipped with gear to increase their efficacy.

What’s driving the project’s growth and how does it work? Hans Hauge, head of quant strategy at asset management firm, Ikigai, who released a long article on DFK on Dec. 13, thinks the project effectively combines DeFi, NFTs, and metaversal elements to create a real functioning economy. A “real economy” here means one with multiple functioning parts. The five most prominent of these parts are the JEWEL token, a decentralized exchange (DEX), a place to stake liquidity provider tokens called the Gardens, the Hero NFTs, and an upcoming feature called Kingdoms."

Fees

• From Ansem's Q1 report (1-1-2022):

"Regarding their dex, users who stake the governance token Jewel in the bank receive 30% of all transaction fees. For those providing liquidity, they are rewarded with the majority of the initial token distribution, partially locked, instead of early deals to VCs and others in seed rounds like most projects. Even with the in-game ecosystem of heroes, the majority of the costs associated with summoning new heroes are re-introduced back into the system. 30% of all summoning costs are provided later to players as questing rewards and 10% of all summoning costs are paid out to to xJewel stakers in the bank."

Staking

• From their docs (31-12-2021):

"When you deposit your JEWEL in the Bank, you receive xJEWEL in exchange at a ratio that can be found in the Teller's menu. The ratio of xJEWEL to JEWEL grows over time. The xJEWEL fund receives a share of fees from the DEX, liquidity withdrawals, and from in-game transactions. The fees collected from the DEX and liquidity withdrawals are not purely in JEWEL. When any player uses the claim function, the bank will use these non-JEWEL tokens to market purchase more JEWEL, growing the total value of the fund and ultimately increasing the ratio of xJEWEL to JEWEL. Since Bank rewards are determined by transaction volume, the bank does not have a fixed yield."

Roadmap

• Can be found here (20-12-2021).

Usage

• From Our Network (20-11-2021):

"In a span of three months DFK's player base has grown from under 1k to 41k — including $904 million in total transaction volume and $2.12 billion in assets. Thanks to DFK's recent success, TVL on Harmony (including staked tokens) hit record highs of $550 million earlier this week. DFK's TVL, which grew by 47% to $310 million in the past week, now accounts for 55.19% of Harmony's TVL. For comparison, SushiSwap is the next largest protocol at $95 million TVL."

Team, Funding and Partners

Team

• Full team can be found [here].

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31