In addition to a good infrastructure, a blockchain needs various qualified projects to grow, and Harmony is an example of a chain with at least one highly promising game in its ecosystem.
According to Footprint Analytics, Harmony currently ranks 21st in TVL for blockchains. Its TVL rose 529% in just one quarter to $753 million as of December 26, in large part due to the popularity of GameFi project DeFi Kingdoms (or DFK), which makes up 50% of Harmony’s TVL.
Footprint Analytics: Harmony TVL
Harmony even surpassed Ethereum and BSC in terms of volume in the GameFi sector in the last seven days. Ronin, an Ethereum sidechain built specifically for Axie Infinity, and WAX, a gaming-focused chain, also failed to outperform Harmony.
Footprint Analytics: Volume of GameFi by Chain & Game (7D)
Harmony: Fast out of the starting block
Harmony, the mainnet of which went live in June 2019, aims to build a highly scalable, secure and low-energy chain based on a sharding architecture. Footprint Analytics explored how Harmony plans to overcome the challenges other projects have faced with sharding technology in Will Harmony Be the Next Chain with 10x Growth?
Harmony’s active GameFi projects are DFK and Freyala, with DFK accounting for 98% of their TVL.
Footprint Analytics: Harmony GameFi Balance
While Axie Infinity has been the benchmark for GameFi projects and once led the industry with its play-to-earn model, DFK has outperformed Axie Infinity in terms of volume for 10 days in a row starting December 17.
Footprint Analytics: Top GameFi Ranking (10D)
What exactly is DeFi Kingdoms?
DFK, a play-to-earn game launched on the Harmony chain on August 23, is a nostalgic pixelated kingdom containing games, DEXs, liquidity pools and NFT marketplaces. The team aims to blend elements of DeFi into a more fun and synergistic game that can be played like a game with daily quests to upgrade to increase rewards and collect rare NFTs.
Source: DeFi Kingdoms
Some locations that DFK players can currently visit are the Portal, Docks, Tavern, Marketplace, Gardens, Bank, Meditation Circle, and Wishing Well.
DFK is a heavily DeFi-centric project at this point, with a much emphasis on in-game clothing. The development team announced it is planning more interesting modules in the future, such as lands, pets, buildings, equipment, guilds, PvE (Player versus Environment) and PvP (Player versus Player).
How DKF Combines Gaming and DeFi
DFK gamifies functions one normally sees on an exchange such as Uniswap by tying them to different locations in the kingdom, thereby making DeFi investing more fun.
- Marketplace: Players can swap tokens.
- Gardens: Players can add liquidity to make LPs to earn fees from other users when converting tokens and mine the platform token, JEWEL.
Source: DeFi Kingdoms
JEWELs can be harvested in two states, Locked and Unlocked. The number of JEWELs that can be unlocked increases over time. The amount of JEWELs unlocked…
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