defi kingdoms
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DeFi Kingdoms Moves Serendale to Klaytn

The cross-chain gaming platform, DeFi Kingdoms, has announced it is time for its Serendale on Harmony to retire and launch on Klaytn. Klaytn is an open-source Level-1 public blockchain built for future Metaverse. 

The platform is built to provide enterprise-grade performance and scalability, which is crucial to the delivery of a smooth Web3 experience across different touch points. Currently, there are many GameFi projects on Klaytn, including Cross Worlds.

What Changes can Users expect with the Movement of Serendale to Klaytn?

The movement of Serendale to Klaytn will come with minor visual updates and other changes to the DeFi Kingdoms’ tokenomics. Here are the highlights of the proposed changes that will come with the movement:

Retirement of Serendale from Harmony

  • DeFi Kingdoms will turn off all upgradable smart contracts through a phased schedule
  • Based on the current Harmony schedule, Locked JEWEL will return to unlock
  • The game platform will provide fully functional bridges to transfer assets to DFK Chain before the retirement
  • DeFi Kingdoms will take a snapshot of any DFK-native tokens that do not move assets through the bridge

defi kingdoms

Launch of Serendale 2.0 on Klaytn

  • The game platform will make some minor visual updates to the look and feel of the game realm.
  • Users will have access to a new native DEX where they can mint new utility tokens. The native DEX is yet to launch, and the platform will reveal the name of the new utility token in due course.
  • The gene sets and new classes will synchronize with the Klaytn theme.
  • The In-game bridge services will support bridging between Klaytn and DFK Chain.

Utility and Changes to the JEWEL Token

  • JEWEL will become the Fee Sharing and Governance token for all chains
  • The platform will reduce the supply cap of JEWEL to 125mm, and there will not be any opportunity to mint more
  • The in-game benefits of having a specific number of xJEWEL are subject to timelock

New Klaytn Power Token (KPT)

  • The name of the new token is yet to be revealed, and it will be the sister token of CRYSTAL. Gamers will use it for all gameplay features associated with Serendale 2.0
  • The first liquid of 20mm of KPT will be distributed to locked JEWEL holders with a year linear unlock schedule.

Crystal Update

  • CRYSTAL will remain the gameplay utility token for Crystalvale
  • The game platform will phase out xCRYSTAL, and the given JEWEL will become the only token for staking at JEWELER

The DeFi Kingdoms will hold a voting event on August 30 to deliberate and vote on this proposal. Community members can vote with xJEWEL from Crystalvale and Serendale and xJEWEL from Gardens and Heroes. For the proposal to pass, it requires a majority vote.

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