My DeFi Pet is a virtual pet game where users can raise pets, personalize them, and benefit from DeFi altogether. It was initially designed to be suitable for the mass adoption of blockchain games. My DeFi Pet team consists of both traditional game developers and a blockchain team. It brings conventional game experiences and DeFi features to NFT collectables. DPET tokens and in-game NFTs are tradable cross-blockchain, currently via Binance Smart Chain and KardiaChain platforms. By utilizing KardiaChain, the game can be offered to any big blockchain community like Ethereum and Polkadot. My DeFi Pet was launched in May 2021 by KardiaChain, the first decentralized interoperable blockchain platform in Vietnam. You can learn more about My DeFi Pet in the official whitepaper.
The game is all about engaging activities for pets:
DPET is a transferable non-refundable utility token used in My DeFi Pet as the medium of exchange. It is designed to be used solely as an interoperable token on the platform, for the platform, and not for other use cases. DPET aims to provide a convenient and secure payment mode for participants who are interacting with the ecosystem.
Additional DPET tokens will be awarded to users based on the player’s usage, activity, and contributions to the network. Users or holders of DPET who did not actively participate in the ecosystem will not receive any DPET token incentives because DPET has been designed to maximize the interaction between players and the game.
Active users are rewarded with DPET and random rewards to encourage them to remain active within the system, which would promote the platform’s adoption. Players can also use DPET to enhance their progress and in-game experiences.
DPET token holders are allowed to propose and vote on governance proposals to determine the features and parameters of My DeFi Pet. The voting weight is calculated in proportion to the tokens staked by the user. The more tokens a user stakes, the more valuable the vote is. With that being said, the community members directly impact the development of My DeFi Pet.
There are a total of 100,000,000 DPET tokens, of which 12,105,698 tokens are in circulation. DPET’s market cap ranking is #916 at the time of this post and has a $15 million market cap and a $228 million fully diluted market cap. Its trading volume in the past 24 hours (Nov 24, 2021) has been $3,934,633.24. DPET hit its all-time high on Jul 26, 2021, at $9.92. The current price is in the $2.3 range. You can purchase DPET via KuCoin, Gate.io, and PancakeSwap.
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