I tried 5 different passive income strategies on Defi Kingdoms and got some really wild results. Here’s how much I made, how I did each strategy and what strategy ended up being the best.
This year we’ve seen huge popularity and demand for NFT games. And I totally love it.
DeFi Kingdoms looks to be one of the most ambitious projects to this day. Sure, DeFi Kingdoms has plenty of competitors such as Axie Infinity and Spliterlands. But there are promising factors that separate this particular project than the rest.
So, if you are interested how to make money in Defi Kingdoms then keep on reading…
#1 Questing
You will need to get a hero to be able to do the quest. There are technically five quests available to heroes:
- (1) Wishing well (don’t waste your stamina on this one IMO and instead use your stamina on profession quests)
- (2) Foraging profession quest
- (3) Fishing profession quest
- (4) Gardening profession quest
- (5) Mining profession quest.
Wishing Well
I wouldn’t recommend spending your hero stamina to run this quest. The wishing was initially a “LITE” quest feature introduced to (1) influx Gaia’s tears into the economy and (2) to allow the Dev’s to test the experience, stamina use and rewards mechanics associated with quests.
Fishing and Foraging
These quests consume 7 stamina per quest attempt(and take 20 seconds per quest). One big different between the wishing well and these profession quests is that by sending them out in a group, the time to quest stacks cumulatively (i.e. the 20 seconds per quest isn’t running at the same time for each hero, only for one hero at a time). So if you send 6 heroes for 5 attempts each, it will be ~18 minutes before you can complete and reap their rewards. Further, if you sent another group of 6 on that same quest for 5 attempts each, then it would be another 18 minutes on top of the first, so 36 minutes before the second group of 6 would be done. Below is a helpful chart. To show how the time stacks.
Gardening and Mining
Gardening and Mining are fundamentally different in how they work from Foraging and Fishing because instead of saying go on x quests, where each quest costs stamina, you instead say, go do Gardening/Mining for x Tics, where one Tic is on point of Stamina (i.e. a Miner with 27 stamina points can go mining for 27 tics, and each tic takes 10 minutes of time, whereas if you don’t have the profession gene (i.e. if you go mining with a forager) then it takes 12 minutes per tic.
#2 Buy Hold And Pray
Buy One Harmony Token And HODL IT.
Harmony (ONE) is a decentralised blockchain platform which was designed to act as a bridge between efforts associated with scalability and decentralisation. Harmony was launched as part of the initial exchange offering (IEO) on the Binance Launchpad in 2019, focussing on the data sharing as well as creation of marketplaces of fungible tokens along with non-fungible tokens (NFT).
#3 Gardens
The Gardens is where you can stake your liquidity provider (LP) tokens, and receive JEWEL as rewards. Much like everything else on DeFi Kingdoms, we aimed to make the concept of providing liquidity as easy to understand as possible.
When you click on the ‘Druid’, you will also see all the official liquidity pools that you can stake your LP tokens in. Information such as APR, Total Deposited, Pool Reward Allocation and Emission Rate is all shown.
By pressing ‘+ Liquidity’, you can pair two tokens together. For example, pairing JEWEL and ONE together gives you JEWEL – ONE LP tokens. This then allows you to stake in the JEWEL<>ONE pool.
After getting your LP tokens, you can stake them in the appropriate pool by clicking ‘Deposit’. There are no deposit fees for staking LP tokens in the Gardens. You are also able to create your own liquidity pair by clicking ‘Create Pair’, but this will not be an official pool with JEWEL rewards endorsed by DeFi Kingdoms.
To prevent people from trying to exploit the system, we have implemented fees when withdrawing your staked LP tokens (based on when you choose to do so):
- 0.01% fee if a user withdraws after 4 epochs
- 0.25% fee if a user withdraws after 2 epochs
- 0.5% fee if a user withdraws after 5 days
- 1% fee if a user withdraws under 5 days.
- 2% fee if a user withdraws under 3 days.
- 4% fee if a user withdraws under 24 hours.
- 8% fee if a user withdraws under 1 hour.
- 25% slashing fee if a user withdraws during the same block.
#4 Rent Out Your Hero
People littery want to rent out your hero so they can do summon. If you have 10/10 summon you can let other people rent out your hero so they can summon and you get the jewel for profit.
#5 Summon And Generation
I put this last because it can be risky, you may gain money you may lose money. It looks like gamble but if you do your research you will make profit out of it.
I’m combining these two because they go so close hand in hand — these are the two most important things in my book when it comes to summoning. The summons number on the front of the card tells you both how many summons total this hero can summon and how many remaining summons it has left. The generation of a hero impact summoning costs and total possible summons.
- Every time you summon the numerator (i.e. summons remaining) goes down.
- Higher generation of hero = higher cost to summon with that hero (cost goes up by 10J for their first summon every time you increase generation.
- The cost of summoning goes up ever generation by a base cost of 10. Every summon on a hero the cost goes up by an additional 2 (e.g. the Archer above is a Gen1, which has a base summon cost of 16, and it has summoned 6 times. That means the next summon will cost 16+2+2+2+2+2+2+2=30J for this one hero, then whatever the summon cost if for the other summoner using the same math.