DeFi Kingdoms unveils cJEWEL and sJEWEL
Cross-chain fantasy RPG game DeFi Kingdoms releases two in-game tokens — cJEWEL and sJEWEL.
Two tokens, cJEWEL and sJEWEL, were released by DeFi Kingdoms. The cJEWEL and sJEWEL are governance tokens used in Crystalvale and Serendale, respectively. They perform the same functions. The cJEWEL emulates the veToken model developed by Curve (veCRV) such that the token is “Voter escrowed”.
DeFi Kingdom users must lock up JEWEL for 7 to 1095 days to receive cJEWEL. The Jeweler fee sharing will work like the garden’s LP staking. Also, the cJEWEL is used to activate premium features such as experience buffs, a feature that will be released after the token’s launch.
The quantity of cJEWEL gained during staking can be calculated using the formula:
cJEWELearned = JEWEL deposited *(daysLocked/MAXDAYS)
The token model has significantly changed the user’s interactions with DeFi Kingdoms Jeweler. Users will explore many exciting features. They will createLock by selecting an amount of JEWEL to deposit and days to lock, and the returned cJEWEL is based on the inputted values. The model allows for an increase in the deposited amount and unlocking period. Users are opportune to claim rewards, update rewards and withdraw from the Jeweler. Users can withdraw before the locking period using the emergency withdrawal option. However, the user suffers a 50% token burn on the staked amount as a penalty.
Advantages of Holding DeFi Kingdom's cJEWEL
Holding CJEWEL comes with many benefits: the governance will use the cJEWEL balance of users for voting on proposals. Holders will earn rewards such as fee sharing and airdrops. Also, they will have access to certain benefits for holding a specific amount of cJEWEL. The tokens will be soulbound to the generating wallet. Tokens held after the locking period will earn rewards and governance power.