What are DeFi Kingdom Charts?
DeFi Kingdoms is a blockchain game on the Harmony ONE network that combines the aspects of decentralized finance (DeFi) and play-to-earn. DeFi Kingdoms appears as a decentralized exchange platform like Uniswap and Pancakeswap on the outside. In this article, let us learn about the DeFi Kingdom Charts in detail.
Players can engage with game-like mechanics like land, buying items in-game, summoning heroes, and building to increase yields. You can monitor price charts for JEWEL, which is the main native coin for the game.
Players can earn and exchange coins while enjoying their game in the metaverse. Yes, things just got interesting but first, let’s briefly discuss the technology upon which the game is based. To take advantage of the game to its full potential, it is recommended to understand the ins and outs of the game. What is NFT?
Gone are the days, when people weren’t aware much about cryptocurrencies, NFTs, and other technology associated with them. But today is the time when every individual is not only well-acquainted with the domain but is also trying to find ways to get closer to it and explore it to the best of their capacity.
Kicking the conversation on, let us understand what exactly are NFTs and the terms related to them.
What are NFTs? A brief introduction
While technology leaves us wondering every single day, NFTs have changed the whole mood to another level. While we were grasping the fact that crypto trading is hitting a new high in India in lockdown, NFTs came into being.
NFTs can range from an autographed being sold to clipart images of rocks or half-drawn paintings being nominated. The more you try to decode it, the more you lose it. But trust me, every day it shows its new face and it’s nothing but interesting. A hell lot interesting! But the best is yet to come in the world of NFTs.
Not only NFTs but every term or idea related to it is also evolving with each passing day and it just gets interesting.
To start with, NFT is Non-Fungible Tokens which is unique and can’t be replaced with anything else. While talking about Indian Rupee or Bitcoins for that matter, if you exchange it you get the same. With NFT, you get something else ranging from Nyan Cat to someone’s signature.
NFTs are part of the Ethereum blockchain technology. Ethereum is a cryptocurrency, like Bitcoin or Uniswap, but there’s something more unique to it. This blockchain also supports NFTs which have extra information stored in them, trade differently, and add much more value than just numbers.
While so much is unique to NFTs, with the gaming industry booming, games aren’t much behind when it comes to entering this one of its kind domain. One such game comes out to be the DeFi Kingdoms. As the name sounds, it’s creative but comes with its own set of rules based on blockchain technology, crypto, coins, trading, etc.
What is DeFi Kingdoms?
Not just a game, it’s a whole world for players where they can do numerous activities while using blockchain technology and usable NFTs. Easily shareable on various platforms, it is one of the most famous games on the blockchain technology that has shareable NFTs with mythical utility.
Read this to learn more about What is DeFi Kingdoms?
What Blockchain are DeFi kingdoms on?
DeFi Kingdoms is a blockchain-operated game that runs on the combination of Decentralised Finance abbreviated as (DeFi) and is popular as a play-to-earn format on the Harmony ONE network.
On the surface, DeFi Kingdoms appears to be a decentralized exchange platform similar to Uniswap or Pancakeswap. However, it is much more than that in which users can interact with it while getting involved in a game-like mechanics such as summoning heroes alongside items, land, heroes, and buildings in addition to many other ownerships to boost yields and hence, tokens.
Getting to know about JEWELS and rewards/ tokens
JEWEL is the token that the gamers earn and powers DeFi Kingdoms which can also be used to purchase NFTs such as items, heroes, and kingdoms. Holders can also utilize them in a liquidity mining pool to earn a yield by expanding their land, kingdom, gardens, or buildings. Finally, JEWEL can be used anywhere to undergo the overall development of the player or his kingdom. It is very much similar to what we call Indian Rupee and use for everyday survival.
The JEWEL token holds a definite cap of 500,000,000 tokens. The other tokens which can be used are Crystal Tokens. These tokens are used in portions for initial liquidity with the remainder used to fund a variety of rewards for players for their performance in the game. Specific information on these rewards is still unknown and dynamic.
Not only this, the rewards or tokens earned can be withdrawn at current exchange rates from the marketplace. One can also become a Liquidity Provider by adding liquidity to any token pools that are owned as per wish. These will help players earn an amount any time anyone trades those tokens further. Additionally, these Liquidity Provider tokens can also be staked for in the Gardens to earn JEWEL tokens or CRYSTAL tokens.
Though the game is still in its early stage, there are plans in the pipeline to release more features such as player vs player, player vs environment, and resource gathering. Apart from these there are also plans to launch some more NFTs which the player can use to trade his Jewels.
What are DeFi Kingdom Charts?
These are the charts that represent the price status of JEWEL in the market. This is traded and built on Harmony ONE platform, based on the UniswapV2 protocol. Harmony ONE is the blockchain upon which the Defi Kingdoms is based upon. Harmony can dramatically reduce node validation times and give greater performance than competing PoS or proof-of-work (PoW) blockchains by using a Verifiable Random Function (VRF) for impartial and unexpected shard membership.
A friendly guide to DeFi Kingdoms
Let’s first know the basics of the game before entering the world of Defi Kingdom. Read ahead to know how you farm in DeFi kingdoms and earn more Jewels.
Swap Tokens: These are tokens that help you play and trade with ease. One of the most known is Jewel Token in the DeFi Kingdom game.
Jewel: The Jewel Token is built and traded on the Harmony One platform using a unique tool called UniswapV2 Protocol. It is secure, fast, and runs on extremely low trading fees aiding your rewards earning in literally no time!
Liquidity Pool: Liquidity Pool, often called LP, is paired with the tokens and helps facilitate different activities in the game structure like mining in the Liquidity Fam Pools.
Gardens: Adding liquidity in the gardens helps to cultivate more and more tokens which is beneficial for the overall scores and value too.
In every domain, the Gardens is a spot to stake liquidity pool tokens to get a portion of power tokens. In the JEWEL gardens of Serendale, players can stake to get JEWEL outflows, while in the Ice Gardens of Crystalvale, CRYSTAL emanations are on offer for the people who stake.
Also, players can allocate their Hero NFTs to work in their nurseries. Those Heroes procure extra awards in JEWEL or CRYSTAL given the ability of the Hero and the sum put resources into the nursery they’re tending, so players who put resources into the Gardens and in Heroes have synergistic utility for their NFTs immediately.
Heroes: Heroes help to defend your gardens and important assets that help to maintain your liquidity and also facilitate unlocking more tokens.
While the above-mentioned features in the game make it interesting, the constant update leaves room for more. The upcoming features mentioned on the website are as follows. These new features are to provide a more holistic experience to the gamers while making them feel as if they are not just playing the game on their devices but are actually into it. It is basically to create a world of their own.
Land: The process would start from owning land of your using resources to developing it from the scratch by using the tokens.
Buildings: The building or any other development for that matter is just a way of improving your land, taking it to the world map, and showing off your money and skills at the same time to the world. Isn’t it like real life? Well, it’s all crazier and more fun!
Equipment: Equipment is just another added feature but this time for your hero to give it more power and good looks.
While we know a lot about the game, its features, and whatnot, the biggest question comes as to where we find it, DeFi Kingdom thrives as it forms communities at every step. You can easily get to play the game and reach out to similar people on Discord and Twitter. Apart from this, it is easily discoverable on other platforms too.
What is the role of Jewel in Defi Kingdoms?
The Jewel tokens in the game are a decentralized way of transaction running on the UniswapV2 Protocols and the numbers of the same depend on your mining abilities. Not only this, but to motivate more and more people, Discord is air-dropping Jewel Tokens to the first 1000 gamers who join the Discord channel and get their accounts verified. Now, that’s some cool deal!
Heroes play an important role in the Kingdom. They are the caretakers of your treasure and your geographies. They restore the land to its former glory. They are hero NFTs that you can buy, trade, combine, and use to level up in the game. For instance, in a war, you can send your heroes on quests to protect the gardens, mine for JEWEL tokens, and forage for resources while you sit back and watch and of course, bet on them.
It was also said that 50 Gen 0 Heroes were to be given to winners from people who had at least 5,000 x JEWEL tokens in their jeweler balance by a certain time, like in real life, which is something everyone is yearning to build or either acquire. It is a land of auction and expansion of the world map by setting up your land. With kingdoms too, the game made some exciting announcements.
How do you farm in DeFi kingdoms?
After you’ve sent cash to the DeFi Kingdom Chain and have your wallet and JEWEL ready for usage, you could employ the yield farming approach outlined below:
You will need to purchase xJEWEL to provide liquidity. To get ready, go to the “Marketplace” (as seen below), click on the “Trader,” and exchange half of your JEWEL for xJEWEL.
Now go to the marketplace’s “Druid,” hit “Create Pool,” and specify the quantity of JEWEL and xJEWEL you want to offer as liquidity.
Further things to keep in mind while farming in Crystalvale
- Verify any required approvals or transactions.
- Go to the “Gardens” section.
- Select “Seed Box” from the drop-down menu.
- Put your xJEWEL-JEWEL LP tokens on the line.
- You will earn the specified APR on your deposit
- To receive your prizes, go to the “Harvest” portion of the “Gardens” area.
We hope this blog has helped you uncover methods to answer your question of How do you farm in DeFi kingdoms?