May 10, 2021
DeFi City, A Gamified NFT Yield farming Sleeping Giant
Alas! A bold, golden city of opportunity awaits you. I’m not speaking about any type of fantasy story, this is $DFC, DeFi City. This protocol is the next clever innovation to burst out from the creative depths of DeFi development.
The number of new users, as measured by the number of unique wallet addresses interacting with DeFi. The available data indicates that the trend will keep increasing; the crypto industry draws some of the brightest minds from IT, FinTech, and traditional finance to the space. To further substantiate the point, blockchain developers were the top sought-after talent in 2018, and institutional investors observing the space are noticing that
We all can agree that the recent new trend of NFTs has undoubtedly flooded the space. Today, trends seem to be meshing and even cycling. The new trend is aiming back to the past, remember yield farming? What happens when you start to mix the trending technology of ERC-721 (NFTs) with gaming, DeFi, and all in one, Liquidity Yield Farming! If you could take away the complexity and confusion of all those aforementioned, that turned away so many people, do you think quicker adoption would’ve occurred? This is what DeFi City has in store for us….What better way to lure the masses than with simplified interactive gaming.
DeFi City is creating a browser based, interactive virtual world, allowing users to build cities all while managing farms across different protocols. All of the best features of a high liquidity money market are included, based on users providing liquidity via borrowing, lending, staking and harvesting their yields across many different platforms, directly from their own city.
STARTING POINT
So here’s how it works so far…Unique buildings and cities will be set up in 256 square tiles, each representing an in-game item, (think Decentraland/Sandbox). To begin, Players will have to purchase, and open, “The Golden Scroll” with 25 $DFC tokens. Doing this allows the user to obtain a unique- City NFT.
From there, users will be able to interact in a fresh and newly advanced interoperable DeFi Eco-system. While a visual representation of the player’s entire yield-farming portfolio is displayed. Let’s not forget that this portfolio is multichain protocol based and will be displayed as Cities and/or Townhouses among the tiles.
Of course, various staking bonuses and higher APY yields will be generated. The first phase will allow the scrolls to be traded and in the future you will be able to trade entire cities, including LP positions.
“We want to decrease the number of authentication steps to provide liquidity to make DeFi more accessible. The dream would be that by simply creating a farm and accepting this process on our application the user is able to start farming.”
Brief summary of Tokenomics
“We strived for a deflationary token in order to reward DeFi City owners by burning a part of the total supply. When purchasing scrolls to obtain city NFT’s, a part of the DFC will be burned thus deflating the supply. Another part will be sent to the fee wallet and a part will be used as staking rewards.”
Tokenomics explaineed
With a token eco system that is deflationary, each NFT purchased, with remaining supply burned, will decrease the total supply. Every time you purchase a scroll a part of that portion will be burned. Many other features are coming in the near future, namely governance within the DFC community. Take a more nuanced look into DeFi City’s tokenomics above.
As for transaction fees, their team is fully aware of the high price of gas fees on Ethereum and they’re aiming to integrate support for other networks, including Polygon(Matic), Binance Smart Chain (BSC), and more in the near future. They are also integrating a “Claim All” button to allowing DeFi users to claim their rewards across all the different farms and platforms. I will share more details on the tokenomics of this as they are released.
Simply put- their overall aim is to make their entire platform as easy as possible for newbies but at the same time, engaging and entertaining for advanced users, all while the user gets educated in a playful way and is able to generate passive income.
“Finally, we believe that great decentralized applications are built for interoperability; they must integrate, work with, and build on top of each other — hence why they’re often called money legos.”
Their Vision Paper…quite impressive. The team? -Cunning. Consisting of Fin-Tech developers, artists and game designers all working hard to deliver DeFi City. Currently, the team is in the process of releasing the official Whitepaper, Web3 wallet integration, Liquidity rewards program and of course, token distribution/sale.
To learn more about the DeFi-City and their vision, check their Vision Paper.
Are you as excited as I am? I will be updating you more as they release new information. In the mean time, keep a look out for their roadmap, as their work and support continue to grow.
Duck DAO at it again + many more! Keep your eyes on this project.
Website | Twitter | Telegram | Medium | Visionpaper
Cheers from the The Crypto Lifestyle group.
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