KingSwap brings gamification to DeFi through NFT lottery games
Users can purchase KingSwap NFT to get higher revenue and limited edition digital collectibles, which can be traded on OpenSea and Rarible.
DeFi project KingSwap (https://www.kingswap.io/) announced the launch of its NFT lottery program and lottery game. The goal is to promote mainstream DeFi applications through gamification. KingSwap is a high-yield liquidity platform that can provide a wide range of pledge rewards, digital collectibles and fiat currency transactions.
KingSwap's new NFT lottery program allows users to mortgage their King King, Queen or Knight Knight NFT within a fixed period of 3, 6, 12, 24 or 48 months, similar to a bank deposit certificate. For the 12-month commitment, investors can obtain 60% APY by purchasing Knight Knight NFT (worth 10,000 $KING tokens), and 80% APY by obtaining Queen NFT (worth 100,000 KING tokens). Acquiring King NFT can get 100% APY (KING tokens worth 1 million USD).
Holders can also invest their NFT into various unique games based on the KingSwap platform, including lottery.
To join the KingSwap sweepstakes, players need to pay an entrance fee of 20 $KING tokens. Once 100 players are reached, a lucky player will be randomly selected to get a limited edition NFT. Players recommend each friend to participate in the lottery game, and each purchase will receive a $KING token.
Malcolm Tan, chief consultant of KingSwap, said: "We created this kind of lottery game to provide better rewards for participants while gaining the loyalty of $KING token holders." "We have seen many enthusiastic users join in. Our previous lucky draws, and look forward to continuing to reward our community through limited edition NFTs."
KingSwap also launched NFT games inspired by poker and game consoles, providing players with more chances to draw NFTs and thus have the opportunity to get greater returns. All NFTs of KingSwap can be reserved for use in various games in the ecosystem, or sold and traded as digital collectibles on platforms such as OpenSea and Rarible.
The NFT lottery schedule is on December 3, 2020. KingSwap's development team prepared a 2-day UAT/SIT test before releasing the NFT lottery function. During the test phase, they found that the NFT pledge was improved, the Gas fee was reduced, and the gas fee was reduced. Additional work/refactoring required for security risks. The development team added these functions to solve the airdrop when the user delegated the NFT, and added an emergency withdrawal system to prevent the contract failure and the user's tokens will be refunded.
KingSwap's development team has added more information to the UI to make it more experience-friendly. All these improvements were detected during UAT testing. Because they strongly hope to introduce a feature that will benefit KingSwap supporters and minimize their risks, they decided to postpone the release of the NFT lottery to December 4th UTC+8.
KingSwap was created by a team of experienced leaders in banking, finance and encryption, including Dr. Anish Mohammed, who has consulted and worked for companies such as HSBC, Lloyds and Zurich, and was an early consultant for Ripple and Ocean Protocol; chief of Fido protocol Architect and President of Sanctum Pte Ltd Dunstan Teo; He Qianxin, who served as a director of Standard Chartered Bank; Japan's largest investment bank Nomura and Bank of Singapore.
KingSwap’s advisors include venture capitalist Dr. Giampaolo Parigi; University of California, Los Angeles (UCLA) Blockchain Professor and Co-founder Professor Alex Nascimento; Transform Group founder and CEO and BitAngels co-founder Michael Terpin; Leonne Er Yi Luke (Esq.) and Dr. Robert Choi (Robert Choi).
Before the public offering of KingSwap in October 2020, venture capital firms and cryptocurrency investors participated in an early stage financing with more than $20 million in capital and liquidity support. KingSwap's investors include Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital and 7CC.
About KingSwap
KingSwap (https://www.kingswap.io/) is a Singapore-based DeFi project with a fully regulated token that introduces a liquidity pool platform for fiat currency transactions. KingSwap's high-yield liquidity platform provides a wide range of pledge rewards and digital collectibles.