#KittieFight is a Blockchain-based platform that has a competition concept intended for Cryptokitties. On the #KittieFight platform, various participants can compete and the winners of each fighting competition session who use special fighting characters owned by participants from the Cryptokitties platform, will receive a token reward. The prizes are Ethereum & Native Tokens from dApps #KittieFight and there will be a Jackpot that has the opportunity to be won in every session. Blockchain technology provides a fair Ecosystem so that all participants in the game have a 50% chance of winning the ongoing competition session.
The #KittieFight platform is also a solution to solve the problem of over-supply of Cryptokitties through a flow called KittieHell, this will provide a Demand Effect from each fighting session on the #KittieFight platform which will basically create a demand for new cats on the Cryptokitties platform because of the ongoing Competition Session and The KittieHell flow described above. Participants who win battle sessions on the #KittieFight platform can trade the token or other things. Not only that, #KittieFight embraces a crowd-driven system, which will provide the community to participate and contribute.
KittieFIGHT, A Game changing Platform
#KittieFight hаѕ furthеr evolved ѕеvеrаl aspects introduced bу CryptoKitties, but thіѕ nеw game іѕ nоt аbоut collecting digital cats оr trading cards. Instead, it’s а pure fighting game whеrе digital cats fight аgаіnѕt еасh other. Players саn place Ethereum bets іn support оf thеіr favorite competitors. Mоrе importantly, thіѕ approach gіvеѕ players thе option оf earning lucrative rewards thаt hаvе hitherto bееn impossible іn blockchain games.Another aspect thаt mаkеѕ #KittieFight а unique breed іѕ hоw іt incorporates multiple aspects оf decentralized finance оr DeFi. It’s а vеrу popular industry thаt hаѕ attracted billions оf values оvеr thе раѕt fеw months. Combining thіѕ aspect wіth blockchain games аllоwѕ уоu tо create vеrу powerful аnd engaging projects. Thеrе аrе оthеr beneficial aspects аѕ well, but it’s оnе оf thоѕе aspects worth keeping аn eye оn #KittieFight.
KittieFIGHT Game and DeFI Lending
Another exciting thing about KittieFIGHT is that it is a DeFI Lending backed, FOMO Mortal Kombat CryptoKitties MMO game similar to a high yield casino or lotto game.
Weekly yields are deposited to the bank and available for lenders to withdraw with their investments to determine their yields.
Lenders can visit https://www.kittiefight.io/DeFi-Lending to start earning weekly interests of about 20% — 70% on the sum invested into the opensource internal KittieFIGHT treasury called “the Endowment fund contract.” This treasury is user-controlled and accessible in the KittieFIGHT smart contract system
What is Yield Farming?
Yield farming, in brief, enables a lender to earn interest on the cryptocurrency he lends as well as receive new digital tokens. With yield farming, a trader can put their crypto assets and earn optimum returns on those assets, a concept which is not possible with the tools of traditional finance.
With liquidity mining, the returns on yield farming have grown even more attractive. Liquidity mining facilitates a new token to the yield farmer along with the usual returns. The usage of the token in a specific program increases its utility and therefore the price of the token. Hence, if the price of new token escalates, a trader can receive substantial returns on the original investment.
KittieFIGHT’s Lending Protocol
KittieFIGHT is a unique innovation in the DeFi space. It is a decentralized gaming application that is backed by a DeFi lending protocol. Its inherent structure facilitates lenders to out Ether (ETH) collateral in an endowment fund or an open-source bank. The smart contract yields return to the lenders in proportion to their initial capital.
The gaming application yields ETH and KTY tokens to the lenders. KTY tokens are the native tokens of KittieFIGHT platform. When a lender deposits ETH tokens into KittieFIGHT’s lending protocol, KTY tokens are auto-bought on Uniswap. The tokens gain utility through the platform’s gaming application. Lenders need to pay transaction fees, betting fees, and ticket fees with KTY tokens. Its inherent utility further creates a demand for KTY tokens, thereby resulting in an increase in its price valuation.
A lender is awarded KTY tokens, in addition to ETH tokens, as rewards after the game. The lending protocol of KittieFIGHT rewards users with 20–70% interest in the form of KTY tokens and ETH tokens.
KittieFIGHT’s Yield Farming Platform
KittieFIGHT’s yield farming program facilitates users to earn rewards in the form of KTY tokens. The platform has launched a smart contract faucet deemed as ‘Volcano’, a yield farming program. It allows users to earn KTY tokens through staking.
The governance token in the KittieFIGHT protocol is through SuperDAO (DAO) tokens. The DAO tokens enable participation in KittieFIGHT’s governance and its yield farming program. In addition to this, DAO tokens will also be used for staking Ether rewards in multiple dApps. As more DAO tokens are locked in the staking mechanism, it will subsequently result in an increase in token valuation of DAO.
The KittieFIGHT’s ‘Volcano’ faucet distributes KTY and DAO tokens to yield farmers who provide liquidity on Uniswap. The higher the liquidity provided by any lender for a longer duration of time, the greater the reward of KTY and DAO tokens. 7% (or 7,000,000) of the total fixed KTY token supply and 7% (or 7,000,000) of the total fixed SDAO token supply is allocated to the 6 month program duration
KTY Token Distribution
The kittieFIGHT token (KTY) is a gamified utility token powering the kittieFIGHT internal economy, utilizing limited supply with suppressed emissions and incentivized crowd participation for various fees paid in Kittiefight scheduled matches. The growing demand for use of KittieFIGHT tokens (KTY) in games, drives up the value of KTY token which are additional rewards to players in each game aside from the Ether rewards.
Token Economy: Distribution
About 65 million or 65% of the total token economy supply are used as rewards to winners and supporters alongside Ether rewards. 8 million tokens out of 100 Million are being auctioned off, with an additional 2 million tokens allocated for bounty tasks. This means anyone can get involved, without needing Ether. Read further down to learn how to participate in the bounty tasks to earn tokens through effort. To understand the need of valuation and dutch auction, please refer to our previous post. Here is the breakdown of the token distribution :
There is an immutable total supply of 100 million KittieFIGHT (KTY) tokens;
- 8 million are up for public auction in a descending price dutch auction
- 2 million is allocated for a pre-launch bounty & marketing bounties
- 5 million is allocated for gaming related partnerships and promotions
- 10 million is allocated to a long-term free distribution for new users (freemium access)
- 10 million is allocated to the team
- 65 million is allocated as token rewards alongside Ether rewards over time for fight winners as well as to KittieFIGHT stakeholders.
- Token Name: Kittiefight Token
- Ticker: KTY
- Blockchain: Ethereum
- Contract: 0x976F035dd2Bc70f0dc399EAEd61090cDADeE15B6
- Token type: Utility .
- Token Standard: ERC-20
- Total Supply: 100,000,000 KTY
- Circulating Supply: Not yet circulating in the market
The future of KTY Token
KittieFight makes Defi process on the Ethereum Blockchain unique and faster.Along with the development of the Ethereum ecosystem, I believe KittieFight will also develop.
For more information :
Website : https://www.kittiefight.io/
Telegram : https://t.me/Kittiefight_ANN
Twitter : https://twitter.com/kittiefightHQ
Telegram : https://t.me/KittieFIGHT_DeFi
Reddit : https://www.reddit.com/r/kittiefight
Whitepaper : https://www.kittiefight.io/whitepaper
Facebook : https://www.facebook.com/KittieFight-110975747423209
Author : Gozila
ETH Wallet : 0x948c0D91F515575d1fb04907F5adEC922C2cf494