Overview of $JEWEL and DeFi Kingdoms on Harmony One
This article covers what you need to know about DeFi Kingdoms. A video version is available on YouTube:
Disclaimer: The content of this post is intended as an example strategy and meant as entertainment not investment advice.
What are the DeFi Kingdoms?
DeFi Kingdoms is not your typical p2e game. It’s educational and promotes DeFi literacy through myth and story.
Defi Kingdoms is a Dex + Yield Farm wrapped in a Zelda-themed UI.
Traditional DeFi terms and concepts that newcomers consider “confusing” are repackaged into understandable analogies.
Learning about DeFi in the Kingdoms
Learn to use a Decentralized Exchange:
Exploring the mythical Kingdom you can go to the marketplace and interact with Merchant Matoya. She’ll walk you through how to swap any coins on the harmony network.
Her easy to understand instructions have made “her” the biggest DEX on Harmony Protocol.
Related Articles: Coinbase vs Coinbase Pro vs Coinbase Wallet
Learn about liquidity pooling:
The other member of the marketplace is Druid. He sells seeds. You buy seeds by pairing any token 50/50 with the native token of the game $jewel. You then get seeds (aka LP tokens).
Learn about yield farming:
Next, after you’ve bought your seeds, visit the garden where Henry will plant them for you. (aka staking LP tokens for additional rewards)
Learn about yield-bearing tokens:
If you’re just into single staking. You can take your $jewel to the bank and deposit it with the banker where you’ll receive $xJewel which earns interest.
PSA: Keep your crypto safe with a hardware wallet
Why I’m hype about the $jewel token and TVL in DeFi Kingdoms
For seasoned #degens you likely don’t need all these cutesy terms and “gamified” UI.
However, it is drawing a lot of new people and money into Defi by making it less intimidating.
Recently, TVL has exploded on DeFi Kingdoms and $jewel its native token has been rising quickly – even during the market downturn.
There’s still plenty of room to grow. I didn’t even touch on the NFT quests that are just getting started on Defi Kingdom. Or their plans to further build out the metaverse. Or their PVP tournaments.
This is not financial advice. Of course, there are plenty of risks involved in playing Kingdoms and buying their native token $jewel.
But congrats to DeFI Kingdom for teaching a new generation of people about the magic of DeFi while creating unique and useful financial tools.
Related Articles: Dydx Exchange – How To Trade Crypto Perpetuals
Follow Mark for more
Follow Mark on Twitter for more strategies and drops.
Check out our other DeFi articles here at Peer Through.
Looking for a job in web3? Hiring for a crypto project? Check out our recruiting portal.
