DeFi Kingdoms Introduces The Bazaar, an Order Book Marketplace for Seamless Trading
The new marketplace will allow players to trade their low-liquidity assets through an order book that limits slippage and price impact.
What does the DFK Bazaar have in store
DeFi Kingdoms, a cross-chain fantasy RPG, has introduced The Bazaar, a new platform that allows players to trade their in-game assets with an order book.
To provide a smooth and flawless experience, the new marketplace will first launch in Crystalvale on the DFK Chain, followed by Serendale on Klaytn in the coming weeks. There will be an order book that limits slippage and price impact, making it easier for players to trade their low-liquidity items at their desired price point.
Players can submit buy/sell orders for any ERC-20 or ERC-1155 token at their chosen price, which will be filled once available or placed on the order book for fulfillment later. They can also place a market order for an item and trade at the best price available or place a limit order by setting the price at which they wish to buy or sell.
It should be noted that all purchases and sales in the Bazaar are made with JEWEL in both Crystalvale and Serendale. This ensures simplicity when comparing prices between realms.
Both buy and sell orders are subject to a 1.5% fee in JEWEL. When a buy order is placed, the fee is held in escrow until the order is filled, canceled, or refunded. If a sell order is filled, the charge is deducted from the monies sent to the seller.
These fees can be reduced by activating a two-tiered Master Merchant Power-Up by allocating 500 or 5000 c/sJEWEL to gain a 0.1%–0.5% reduction in buying and selling fees.
- Tier 1: 500 c/sJEWEL — 0.1% fee reduction
- Tier 2: 5000 c/sJEWEL — 0.5% fee reduction
All fees collected will be distributed to the community and developers to further develop the game. 5% of them will be burned, with 15% going to JEWEL stakers, 30% to the realm's Quest Fund, and 50% to the Dev Fund. To learn more, check out the official post.