DeFi Kingdoms Introduces New Power Token for Serendale 2.0 on Klaytn

Set to be launched on a native DEX, $JADE will be the new utility token for all gameplay-related features in Serendale 2.0.

Oct 15, 2022
by Akira Ming
DeFi Kingdoms Introduces New Power Token for Serendale 2.0 on Klaytn
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Meet $JADE -  the new power token for DeFi Kingdoms on Klaytn

As DeFi Kingdoms (DFK) prepares for Serendale 2.0, the developers have introduced $JADE - a new power token to be used in the game. The utility token will be usable for gameplay-related features in Serendale 2.0 and can be minted through a native DEX soon. 

Since August, DeFi Kingdoms has been working hard to move its original map, Serendale, out from the Harmony blockchain to the Klaytn network. As of writing, the team is in the progress of shutting down Serendale 1.0 and its upgradeable smart contracts on Harmony. 

Coming back to $JADE, a community vote was held and passed in September involving its tokenomics. As shown in the graphic below, $JADE will have a total supply of 250 million tokens, with 125 million locked $JEWEL to be converted to 125 million locked $JADE. The first 20 million liquid $JADE will be distributed to locked $JEWEL holders through a 1-year linear unlock schedule. 

With these changes, $JEWEL's total supply will be reduced to 125 million tokens. It will also become the governance and fee-sharing token for all DFK chains. For easier reference, the team has designated sJEWEL as the governance token for Serendale, and cJEWEL as the governance token for Crystalvalve. 

What's new in Serendale 2.0? 

Apart from the tokenomics changes, Serendale 2.0 will go live with some new exciting features. Some of these include the introduction of new Hero classes and gene sets synchronized with the Klaytn theme. Besides that, the team will roll out some minor visual updates to improve the overall look and feel of the realm. 

Also, in-game bridge services will be available to support bridging between DFK Chain and Klaytn. A snapshot will be taken, too, for any DFK-native tokens that failed to be transferred via the new bridge. 

Given how much effort the team has already put in, fans probably won't have to wait too long to start playing Serendale 2.0. 

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