DeFi Kingdoms
Crypto Overview
Overview
DeFi Kingdoms is a blockchain-based game that combines decentralized finance (DeFi) elements with gameplay mechanics inspired by classic fantasy role-playing games. The project launched on the Harmony blockchain in 2021 and has since expanded to the DFK Chain and Klaytn network.
Intended Utility
JEWEL serves multiple purposes within the DeFi Kingdoms ecosystem: It functions as the primary governance token, allows users to participate in liquidity mining, enables the purchase of NFT characters (Heroes) used in the game, and serves as the main currency for in-game transactions.
Actual Utility Assessment
The token demonstrates significant real-world adoption within its ecosystem. On-chain data shows active daily users engaging with the platform's features, including DEX trading, Hero NFT transactions, and participation in quests and mining activities. The development team maintains regular updates and has successfully expanded to multiple blockchain networks.
Token Distribution and Governance
The token distribution includes locked allocations for development (25%), marketing (5%), and founding team (15%), with vesting periods extending over multiple years. The remaining 55% is allocated to the community through various mechanisms including liquidity mining and gameplay rewards. Smart contract audits have been performed by multiple security firms.
Revenue Model
The protocol generates revenue through transaction fees from its DEX, Hero NFT sales, and various in-game activities. These fees are distributed to token holders who participate in protocol governance and liquidity provision, implementing a profit-sharing model that aligns with Islamic finance principles as it represents actual business revenue rather than interest.
Crypto Impact
To assign a comfort level investing in DeFi Kingdoms from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to DeFi Kingdoms.
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