Have you heard about DeFi Kingdom, the hottest crypto gaming craze. Learn how to yield farm, harvest rewards, and stake, all while playing a fun and entertaining game. Purchase in game NFT’s to increase your rewards and earn more tokens. Read on to find out more!
December 1st 2021| Mike Humphrey
Table of Contents
What is Defi Kingdom
DeFi Kingdom combines gamified yield farming, with classic console game graphics. Jewel, the in-game token is earned by providing liquidity to pools as well as staking. Where it differs from a normal swap protocol, is the in game NFTs (heroes and land), whose attributes help you to earn more yield. NFT heroes, and land are used to undertake quests and even PvP games to level up, increase their stats, and increase your rewards.
Transfer Funds to Harmony
In order to play Defi Kingdom you will need to have assets on Harmony. To transfer funds over to Harmony you can use the Harmony Bridge, Terra Bridge, Synapse Cross Chain Bridge, or Anyswap. You will also require a small amount of ONE token (the gas token for Harmony). Read our guide on how to Transfer funds to Harmony. Harmony is compatible with Metamask. Read how to Add Harmony to Metamask.
Create Your Profile
The first time you log into DeFi Kingdoms, you will be asked to create a username and select and avatar. Click on the play button and give permission for the site to connect with your wallet.
A new window will open where you will enter your username and select your character avatar.
Navigating The Kingdom
Once you have created your character, you are ready to start exploring the world of DeFi Kingdom.
The world map is the starting point for your journey through the kingdom. Each area is identified on the world map with a sign. To navigate from one area to another you can click on the signs, or use the menu in the top right.
The menu allows you to quickly move from one are to another without having to go back to the world map. From the menu you can also access external links to statics, docs and various contact channels. As the game grows, the world map will continue to expand and new areas will open up. Now that we have an idea of how to get around in the game lets explore what you can do in each of the areas.
The Market Place is the center of DeFi Kingdom. Here you can exchange tokens, deposit them in liquidity pools, and catch up on the “local” news.
There are three NPC’s in the Market Place:
- Trader: Allows you to swap tokens
- Druid: Pool creation or Deposit your tokens into a pool
- Town Crier: Information and updates about DeFi Kingdom
The Gardens are where players can farm liquidity pool (LP) tokens for Jewel. To deposit your LP tokens (called seed in the game) you must put them in the Seed Box. Jewel rewards are collected from the Harvest Box.
At the Bank players can stake their Jewel in the protocol and receive a portion of the platform trading fees. When Jewel is deposited, you will receive xJewel in your wallet. As fees accumulate in the protocol, xJewel increases in value. When you withdraw xJewel, you receive the Jewel you deposited plus the accumulated fees.
The Tavern is the gathering place of heroes (in-game NFT’s). In the tavern you can purchase, rent, and research DeFi Kingdom heroes. The Barkeep has an inventory of searchable heroes, and also allows you to send heroes to other users. The NFT agent is the marketplace for purchasing, selling, and renting heroes.
The Portal is used to summon/create new heroes/NFTs. Using Jewel, Tears and 2 heros, you can create new NFT.
Professions, is where your hero goes to perform quests and activities. In exchange for taking on the quests you will receive Jewel. There are four professions available – fishing, gardening, foraging and mining. Quests are scheduled to go live in Q4 of 2021.
The docks is where you can leave DeFi Kingdom and go to another blockchain. Clicking on the Dockmaster will take you to Anyswap where you can exchange your Harmony tokens for tokens on another blockchain.
Wishing Well Quest
The Wishing Well is a quest, that allows you to collect tears (required to summon new heroes). You must have a hero NFT in order to complete the quest.
How to Play DeFi Kingdoms
The following is a quick guide on how to get started with DeFi kingdom. Before starting be sure you already have funds transferred to Harmony, and ONE token in your wallet. At it’s heart DeFi Kingdoms is a swap protocol, similar to Sushi Swap or Viper Swap. To earn Jewel rewards, you must deposit liquidity in a pool and then stake your liquidity pool tokens. Jewel can then be used to purchase in game items.
Choose a Pool
You first stop in Defi Kingdom should be to check which pool you want to provide liquidity to. To do this head to the Gardens and click on the Seed Box. A window will open showing you all of the liquidity pools available and their APR. Choose a pool that you feel has the best returns with the lowest chance of impermanent loss. Impermanent loss occurs when the relative price two tokens in a pool fluctuates disproportionately. Before investing your tokens, be sure to do your own research and understand the risks involved.
Exchange Your Tokens
Now that a pool has been selected, head to the Market Place to exchange tokens and add them to the liquidity pool. In the Market place, speak with the trader and exchange your tokens so that you the two pool tokens in a ratio of 1:1.
In the Example above, I have swapped half of my ONE tokens for Jewel (leaving some ONE in my wallet for gas fees). This will allow me to put in equal amounts of ONE token and Jewel token into the liquidity pool in the next step. Click swap, approve the tokens and then approve the transaction. (see our guide on keeping Metmask safe)
Once you have exchanged your tokens, speak to the Druid and deposit the tokens into a liquidity pool. You will need to deposit tokens in a 1:1 ratio, where the value of each token deposited is equal (for example 4.35 ONE: 0.138815 Jewel as seen in the swap above). Once deposited you will receive LP tokens for the pool. This represents the portion of the pool you own.
Stake LP Tokens
Read about the DeFi Kingdom tokenomics below before depositing your LP tokens. There are restrictions for withdrawing staked LP as well as locked rewards with vesting schedules. To stake your tokens and earn additional Jewel rewards, head back to the Gardens. Click on the Seed Box and select the liquidity pool with your given token pair and choose deposit.
DeFi Kingdom Tokenomics
DeFi Kingdoms has developed several strategies to reduce the volatility of the Jewel token and to protect the longevity of the ecosystem.
LP Staking Withdrawals
To prevent flash loans and pump and dump strategies, DeFi Kingdoms has implemented a withdrawal fee schedule. If you withdraw your LP within the same block it was deposited, there is a 25% fee on the withdrawal. The fee decreases progressively down to 0.01% at roughly 1 month. See the table below for the complete fee schedule.
Locked Jewel & Vesting Schedule
Staking rewards have two components – locked, and unlocked Jewel. Locked Jewel begins vesting in January of 2022. The percentage of your rewarded Jewel that is locked decreases over time. For example at Epoch 1, 95% of the rewarded Jewel was locked. At Epoch 2, 93% of the rewarded Jewel was locked. The percentage of locked Jewel decreases by 2% every Epoch (approximately 1 week). This strategy prevents the supply of Jewel from spiking in the market and helps to maintain the token’s value.
As Jewel rewards start to accumulate you can withdraw the unlocked Jewel from the Garden Harvest Box. Click on the Harvest Box and click claim. Claimed Jewel can either be re-invested into one of the liquidity pools, deposited in the bank to receive xJewel, or can be used to purchase in game items.
Stake Jewel in the Bank
To earn additional rewards as you accumulate Jewel, you can deposit it in the Bank. Players who deposit Jewel into the bank receive a distribution of 1/3 of all trading fees on the platform. When you deposit Jewel, you receive xJewel in your wallet, which increases in value based on the platform trading fees. To deposit your Jewel, speak to the Teller at the bank and select deposit. Select the amount of Jewel you wish to put in and approve the transaction. xJewel will now appear in your wallet.
When you are ready to use your Jewel, you can head back to the bank, speak to the teller, and select withdraw.
Purchase Your First Hero
When you have enough Jewel, you can purchase your first hero from the Tavern. Speak with the agent to see a list of all the heroes currently available. Select The Hero you wish to purchase, approve the Jewel and the transaction.
Summoning A New Hero
To summon a hero, you will need 2 heroes, some Jewel, and Tears. Go to the portal and speak with the Arch Druid, and create a Summoning Crystal. Select the two heroes and approve the required Jewel and Tears. Once you have infused a Summoning Crystal speak with the Summoner and a new hero can be created.
DeFi Kingdoms is still quite new and there are some exciting advancements on the way. So what is next for the game? DeFi Kingdoms is set to expand the NFT’s available with land to be introduced. Quests are under development and they will allow heroes to begin leveling up, which will increase player rewards. There is also PvP and PvE game play scheduled for release in 2022. Below is the roadmap from the developers.
Have you played DeFi Kingdoms yet? Let us know in the comments
Hi I’m Mike, an active crypto investor DeFi enthusiast and crypto miner. I have been involved in crypto since March of 2021 and in DeFi since May 2021.
I’m also an avid outdoor adventurer!