DeFi Kingdoms Announces DeFi Kingdoms Blockchain

DeFi Kingdoms is proud to announce their own subnet, DeFi Kingdoms Blockchain (DFK Chain). Partnering with Ava Labs, DFK Chain will be the home of the previously announced Crystalvale expansion. It is their vision that DeFi Kingdoms Blockchain will become a go to location for community members and projects to launch GameFi and other blockchain gaming experiences in conjunction with their primary offering of DeFi Kingdoms: Crystalvale. They are pioneering this Initial Subnet Offering with Ava Labs and plan to expand the blockchain metaverse with DeFi Kingdoms as the provider of such utility.

Why a Subnet?

Avalanche subnet technology provides a way for projects to section off a group of Avalanche validators and commission them to validate additional blockchains outside of Avalanche’s primary 3 chains (P, X, C chains). By commissioning a subnet they will be able to run and manage their own proprietary blockchain. DeFi Kingdoms Blockchain is an EVM compatible blockchain that will be validated by their subnet and uses the proof of authority / proof of stake consensus algorithms developed by Ava Labs. DFK Chain combined with Avalanche Subnet infrastructure will unlock new potential for DeFi Kingdoms.

Technical information on Avalanche subnets can be found here: https://docs.avax.network/build/tutorials/platform/subnets/

JEWEL as Gas Token

One of the greatest advantages of building DeFi Kingdoms Blockchain on their subnet is to empower JEWEL. JEWEL will no longer only serve as a Serendale Governance Token, but will now also serve as the Network Gas Token of DFK Chain. Players of DeFi Kingdoms: Crystalvale will use JEWEL to pay for transactions on DFK Chain.

This decision does not increase the total cap of the JEWEL token. JEWEL will continue to only be minted in the Master Garden in Serendale. In-game bridging will be provided to allow for JEWEL to be moved to DFK Chain to pay for transactions and provide liquidity. The effective total supply across all chains remains at 500 Million JEWEL.

With JEWEL used as a gas fee where will it go?

  • A portion will be given to the designated wallets of the validators. This allows them to attract more validators and further decentralize the chain.
  • A portion will be burnt. This will continuously increase the value of JEWEL by implementing a consistent burn mechanic and deflating the supply.
  • A portion will be sent to the Quest Fund to reward their community and players.

DFK Outposts

Starting with Avalanche, DeFi Kingdoms will expand to have “Outposts” on multiple chains that will include features to help make onboarding onto DFK Chain seamless and easy for all players. These will include integrated bridging and trading through a local dex, to make it easier to obtain the DFK Chain gas token, JEWEL, and bridge it over without the need to leave defikingdoms.com. The goal of Outposts are to reduce barriers of entry into DeFi Kingdoms.

Outposts will have the fiat onramp integrated to help with the local chain gas fees, tutorials, and RPC switch to DFK Chain for the first time. Certain chains will even get their own dedicated mini-zone unique to their chain.

Bridging from Other Chains

DeFi Kingdoms Blockchain is in fact, its own chain, and therefore will need bridging support from all chains, including Harmony and Avalanche C-chain. As already seen in Serendale, DeFi Kingdoms: Crystalvale will utilize “The Docks” zone as an in-game interface that taps into bridging services. Although the Outpost zones assist in the initial onboarding to DFK Chain, The Docks will be the ongoing zone for all things related to moving tokens on and off chain, including fiat on/off ramps. At launch, DFK Docks will support JEWEL, xJEWEL, and AVAX from Avalanche and Harmony chains, but will expand in supported tokens and chains over time. The Docks provide a seamless and native experience for bridging to and from DFK Chain.

Subnet Validators

Running a subnet on the Avalanche network will require a set of validators. To start they will be partnering with several teams to establish a genesis validator set. In the short term they plan to open applications for community members, guilds, and other partners to join the validator set and earn rewards. All subnet validators are required by the subnet technology to be a Primary Avalanche Network validator. The current staking requirements of Avalanche is 2000 AVAX. In addition to this stake, validators hoping to join the DFK subnet group will be required to stake JEWEL and be whitelisted for the subnet. As the subnet technology advances they hope to make DFK Chain a permissionless proof of stake network for anyone to join and continue securing the chain.

RPC Nodes

Due to the high volume of data and transactions required to run game logic on-chain, RPCs are an essential part of their players’ experience. They are partnering with Ava Labs and the POKT network to provide a public set of RPC nodes at launch. Post-launch they will commission internal resources to provide private and public RPCs. These RPCs will serve as access to their community members, grant program participants, and official partners to make playing or developing on DeFi Kingdoms Blockchain an enjoyable experience for all.

$15mm in Incentives

In partnership with Avalanche Foundation, DeFi Kingdoms will be incentivizing the early phase of the Crystalvale launch on DFK Chain with a total of ~$15mm in incentives: half in Crystal and half in AVAX, through the new Avalanche Multiverse incentives program. These incentives will be awarded as part of ongoing airdrops and Ice Garden emissions in the earlier stages, where certain pools will be subsidized with AVAX. More details on incentives will be released in the coming weeks.

Source: https://medium.com/defi-kingdoms-official/defi-kingdoms-announces-defi-kingdoms-blockchain-2d51333b1e4e

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