Based on Footprint Analytics, Concord at present 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 challenge DeFi Kingdoms (or DFK), which makes up 50% of Concord’s TVL.
Footprint Analytics: Harmony TVL
Concord even surpassed Ethereum and BSC by way of 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 didn’t 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 primarily based on a sharding structure. Footprint Analytics explored how Concord plans to beat the challenges different tasks have confronted with sharding know-how in Will Concord Be the Subsequent Chain with 10x Development?
Concord’s energetic GameFi tasks 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 tasks and as soon as led the business with its play-to-earn mannequin, DFK has outperformed Axie Infinity by way of 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 components of DeFi right into a extra enjoyable and synergistic sport that may be performed like a sport with every day quests to improve to extend rewards and acquire uncommon NFTs.
Supply: DeFi Kingdoms
Some places that DFK gamers can at present go to are the Portal, Docks, Tavern, Market, Gardens, Financial institution, Meditation Circle, and Wishing Effectively.
DFK is a closely DeFi-centric challenge at this level, with a a lot emphasis on in-game clothes. The event crew introduced it’s planning extra fascinating modules sooner or later, corresponding to lands, pets, buildings, tools, guilds, PvE (Participant versus Setting) and PvP (Participant versus Participant).
How DKF Combines Gaming and DeFi
DFK gamifies capabilities one usually sees on an trade corresponding to Uniswap by tying them to completely different places 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 may 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 will probably be locked and locked JEWELs will start to be unlocked slowly. They’re estimated to be absolutely unlocked in Q3 2023.
When a consumer desires to take away liquidity, DFK will cost a withdrawal price primarily based on the size of time held. The minimal price will probably be 0.01% for deposits over 4 epochs, and the utmost price will probably be a 25% slashing price for withdrawals inside the identical block, acknowledged within the official docs.. Withdrawal charges and locked rewards are inbuilt to assist DFK retain its worth somewhat than turn 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 every 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 consumer’s transaction charges within the sport, so there isn’t a mounted APY and there will probably be extra income when the sport releases necessary occasions. After depositing JEWEL, the ratio of JEWEL to xJEWEL will hold rising, in order that when customers take JEWEL out of the Financial institution, they may at all times obtain extra JEWEL than once they put it in.
Not like JEWELs obtained in a Backyard, JEWELs obtained in a Financial institution do not need lock-up durations or withdrawal charges, very like conventional financial institution demand deposits.
In addition to DEX-related components, NFT “Heroes” are a central a part of DFK, the place they serve not solely as NFT collectibles, but additionally as a means for customers to earn extra JEWELs. IN the longer term, 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 may be categorised by genes, rarities, professions and ranks. Totally different heroes obtain completely different rewards when performing actions, could harvest completely different ranges of NFTs and JEWEL, and can even stage up their characters.
There are 4 tokens at present 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 price is paid when choosing the avatar and title at creation.
It’s the major token of DFK and is used for many in-game transactions, corresponding to buying Heroes, tools, props, and so on. It may be gained by liquidity mining or immediately by 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 may be obtained by quests at Wishing Effectively or by immediately swapping.
With the rise of DFK, the worth 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
DFK has grown to over 20,000 customers as by December 26, simply 4 months since its launch, in keeping with Footprint Analytics.
Footprint Analytics: DFK Volume VS User
In comparison with Axie, DFK focuses extra on finance and token era than gameplay. Whereas Axie appears like a sport with a crypto investing facet, DFK appears like a crypto funding platform become a fantasy RPG.
The playability of a game-focus challenge 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 devour gas charges in order that there won’t 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 won’t assist long-term progress.
Nevertheless, the builders of DFK are laborious at work iterating on new sport components to reinforce gameplay, making the challenge much less like a gamified DEX and extra like a standard RPG. In the event that they succeed, the challenge appears to be like to have a promising future, as does Concord blockchain which hosts it.
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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.