DeFi City — Simplifying DeFi Product Portfolio Management
The decentralized finance (DeFi) world has seen enormous growth over the past year. Many new DeFi products introduced have provided DeFi’s 1.75 million users fresh streams of passive income. Users no longer rely on simply buying and holding cryptocurrencies as a means to grow their wealth. New products including NFTs, staking, and yield farming, among others, have taken the cryptosphere by storm.
With a 50% boost in DeFi users in the Q1 of 2021, there is no denying that people indeed are curious about the possibilities of this space. The only challenge is their simplification.
Although there are enormous opportunities in DeFi, most people fail to grasp the complexities of this space. Exploring these new territories may also expose users to risks if their choices aren’t backed with a sound understanding of the technicalities.
Tracking the growth and managing farms is a cumbersome process even for the seasoned users who conduct yield farming and liquidity mining on multiple protocols. These users log into different platforms to keep a tab of their investments.
Gamifying DeFi Yield Farming for Everyone
Aimed at 'Gamifying and Simplifying Yield Farming,' DeFi City serves as a one-stop-shop to manage all yield farms spread across multiple DeFi protocols. The DeFi City IDO is scheduled for 16th July on Poolz and DuckStarter.
It is a browser-based application that breaks down the complex structures, allowing beginners to learn and understand these products through tasks and mini-challenges. For the pros, it streamlines crypto investments and enables them to view and monitor everything from a single platform.
To begin, a player can purchase a city by paying for it in DeFi City Tokens (DFC). Each of these cities in DeFi City will come with up to 256 tiles, where every tile can be used to establish a unique building. City owners can use their building to represent a farm, or a non-fungible token (NFT) purchased from an open market.
The city will allow users to monitor all their assets and their KPIs through a single interactive dashboard. They can use the buildings to represent everything from lendings, liquidity pools, and yield farms across multiple platforms in a single city. Moreover, the city will also be registered on the Ethereum network as an NFT, making the player its sole owner.
The first building in every city will be the Townhouse. This central building will act as a vault for staking NFTs and tokens, and the number of tiles a player gets initially will depend on the tier of their Townhouse.
Besides, the staking bonus users earn on their staked assets will also be directly proportional to the level of their Townhouse. Hence, users can play consistently to increase the tier of their Townhouse and get a staking bonus between 1% and 10%.
Apart from the Townhouse, there will be three other properties each city will have — Environment, Resources, and Grid — and each will add an additional surplus to the staking reward.
What is a City Worth?
The value of the cities will depend on the unique features present in them. One of the ways to acquire these features is through in-game airdrops, which will also contain tokens.
Other value features like NFTs can be found in scrolls, which users can purchase from the DeFi City website. In-game cosmetics will also add to the value of the city, letting players customize their cities and make them completely unique.
Additionally, DeFi City also offers its players the option to purchase and open a Golden Scroll, which will give them a new city with unique features. Players can start building on their new cities or sell them as NFTs on the open market.
DFC — A Deflationary Token
DFC is the native token of DeFi City, and it can be purchased directly on PancakeSwap.
Notably, the DeFi City store will burn a certain percentage of the tokens used in the transaction for every purchase made. This, in turn, will lead to a direct surge in the value of DFC tokens, which are already limited to 100 million units. If a user wishes to acquire more DFC tokens, they can do so by staking their DeFi City NFT and in-game tokens.
Creating the Future of DeFi
DeFi City aims to democratize decentralized finance products and lower the barriers to entry for new users through gamification. Serving as an integrated platform, the game will allow players to invest in protocols across multiple chains, thus simplifying the DeFi experience for new users while making portfolio management more efficient for the pros.
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