DeFi Kingdoms Whale Watch and Key Analytics Report #11 — October 31, 2021
I am not affiliated with the DefiKingdom team and nothing in this report is intended to be financial advice and is strictly for informational purposes.
Hi DFK Fam -
Here is whale watch and key analytics report number 11. Snapshot was taken around 9:30AM MST on 10/31/21.
Most of you are here because you’ve been following these prior reports or are already part of the community and are seeing this in the discord, reddit or my twitter. For those who are brand new to DeFi Kingdoms or know nothing about this gamefi platform, please see the bottom of this summary for some helpful links to get you started on your journey (and welcome to the family).
Shout outs:
- Shout out to Magg for providing me with the raw LP data as well as his awesome tool that can pull locked and unclaimed Jewel balances! You can also check out Magg’s work on his website https://kingdom.watch/ which has some really cool querying tools.
- Special thanks to MrZipper as well for his help in pulling hero data for the top addresses.
-Discord: Samichpunch#2518
-Twitter: @Samichpunch
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WHAT IS THIS? This report focuses on key metrics related to the game aspect of DeFi Kingdoms based on the largest wallets (by xJewel), as wallets participating in the LP pools may not always be closely associated with the adoption of the game itself and are a bit outside the scope of this report. However, I do provide some interesting data of the LP holdings of the top xJewel wallets.
Time since last report: ~7 Days
xJewel Analytics
The number of xJewel wallets increased by 19.42% this week. While this isn’t as high as last week’s 25.46% increase, its still a ~20% increase week over week and you have to keep in mind that the increase is a % of a larger starting number, so the actual number of wallets increasing hardly went down. This number makes sense to me, with phase 2 movement waiting for quests, to have another ~1350 wallets still join and stake in the bank is a positive sign.
Unlike the past couple weeks, The top 50 wallets increased their holdings by a combined 5.26%, yet their % of the total xJewel outstanding went up by 6.52%, meaning they grow more than the wallets outside of the top 50 as a %. Nothing alarming about this number, but I would bet it’s related to a lot of smaller wallets liquidating some xJewel to buy heroes on the tavern (which was available via beta this past week and launched this weekend on the live version!).
Bank Ratio Analytics
Annualized Bank Ratio based on the increase to the bank ratio for the past week was only 40.92% this week compared to last week’s 42.01%.
I don’t have the numbers to support this, but my guess is that the bank ratio will continue to go down slightly each week so long as there is not a large amount of summoning and sales at the Tavern. Part of this issue right now is that summoning has probably dropped A LOT because the price of Gaia’s tears is just broken right now. This is because nobody has access to Gaia’s tears unless they got them from the initial drop along with Gen0 minting or they are one of the lucky few that are winning the give always that the DFK team is putting on.
So looks like my prior thought that tavern release would pump this up more, because the Tavern fees alone (at current sale rates) are not generating that high of bank Jewel. As is, you’re getting a lot more bang in the gardens still IMO (not financial advice).
Jewel Analytics
Normal increases within the top 50. However, unlike past weeks, top 50 holdings as a % of total holding increased slightly whereas the past couple of weeks they’d been trending downward.
Adoption Analytics
These are some of my favorite numbers to look at each week.
Median wallet decreased by 21.65% this week, after decreasing 33% for each of the last two weeks. So the Median wallet three weeks ago was right around 50 and now sits at 17.52. I keep saying this, but I think median wallet continuing to decrease is a great sign of more and more small players getting into this game, an that’s what is needed for mass adoption. I find this important because it means you also have small players finding value in staking their token in game, which is a sign of healthy economic model for the game if it makes sense for even the small wallets. With 1,276 new xJewel wallets since the last report, this means most of the wallets were on the smaller end to push the median down by 21.65%.
Dappradar metrics are once again up at an astounding rate over the past report with an increase of ~23% unique wallets interacting with DFK over the past 7 days.
You might recall last week that the 7 day trailing transaction quantity was stagnant with only 0.79% increase over 7 days and that I’d wanted to keep an eye on this and only be concerned if we started seeing that trend downward over several weeks. I’m glad to see that we’re already back in the green again with a whopping 23.4% increase in transactions over the past 7 days, this may be in part due to Tavern sales.
Top Wallet Movement
Hero counts added back for this chart this week. Special thanks to MrZipper in Discord for the hero counts.
Special note that these numbers don’t include (I believe) any heroes these accounts may have listed on the Tavern.
Just a couple of quick highlights on this list:
- The old Moby from prior reports transferred their xJewel to what is wallet 2 on this list, but kept their hero’s on their other wallet. Their other wallet has 208 hero’s, someone is getting ready to play the game!!
- The New Wallet 1 coming in hot and heavy. If you look at their transaction history you’ll see many many many purchases of Jewel in amounts like 45–60k USD per transaction and then depositing every few minutes into the bank. Whoever this is is throwing down.
- Wallet 8 that had the 44% decrease sold about $75k worth of Jewel for ONE and then bot a whopping 200K xTranq. Let’s go. At the time of the snapshot, this wallet still held a lot of xjewel, however, since taking the snapshot it looks like they sold another 38,000 Jewel (not xJewel) so either expect to see their number drop dramatically next week or to see them try and swing trade back in during this dip.
LP Holdings by Top 15 Wallets (AND LOCKED BALANCES!)
Thanks to discord user Magg (Magg authors the Kingdom.watch website , where you can see certain known Dev team wallets and their transactions), I was able to get my hands on some data about the LP holdings of the top 15. It gets more granular than this, but here’s some interesting data on how much of the LP pools these whales hold. Also, new to this report is the top 15 xJeweler’s locked and unclaimed balances!!
Also super interesting is to see where these Whale’s locked balances lie. The third wallet is crazy high with 16M locked balance! Although, that isn’t surprising given they have $2M staked in the gardens on top of all of their xJewel. Given that they have 16M locked Jewel, and only 64K unclaimed, they are claiming consistently rather than letting them build up.
The 10th wallet has 993K unclaimed Jewel. That means at any given time they could claim for over 200k UNLOCKED Jewel, stake it in the bank and move up dramatically in the xJeweler rankings. Will be interesting to see if they are trying to wait until next year or a higher unlocking to claim.
Prior Whale Watch Reports
Whale Watch Report #1 — September 21, 2021
Whale Watch Report #2 — September 22, 2021
Whale Watch Report #3 — September 23, 2021
Whale Watch Report #4 — September 24, 2021
Whale Watch Report #5 — September 26, 2021 (Governance Highlight on Voting Patterns of Top 50 Wallets)
Whale Watch Report #6 — September 29, 2021
Whale Watch Report #7 — October 5, 2021
Whale Watch Report #8 — October 10, 2021
Whale Watch Report #9 — October 17, 2021
Whale Watch Report #10 — October 24, 2021
DeFi Kingdoms Lost Annals of Gaia
I recently posted a new piece about some very helpful game mechanic tidbits in the discord. If you are interested in the technical mechanics of summoning, leveling, questing, etc. you NEED to read this article. Until this knowledge can make its way into the official DFK docs, I’ve started “volumes” which can be found here:
What is DefiKingdoms
DeFi Kingdoms is a game, DEX, liquidity pool opportunity, market of rare utility driven NFTs, and it all plays out in the nostalgic form of fantasy pixel art.
Where to learn more about DefiKingdoms?
DFKWiki (awesome website created by another community member Sarah)
