DeFi Kingdoms Whale Watch and Key Analytics Report #12 — November 14, 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 12. Snapshot was taken around 10:00AM MST on 11/14/21.
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 (including my new unofficial beginner’s guide) 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 me.
-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: ~14 Days
I’m transitioning this report to be bi-weekly rather than weekly. As such, the % changes in comparison to the last reports will be quite a bit different because it will be tracking %’s over a 14 day period rather than a 7 day period on the prior reports, this will only be applicable for this report since all reports going forward will be covering a 14 day period.
xJewel Analytics
The number of xJewel wallets increased by 31.47% over the past two weeks, which is ~15.75% per week, compared to 19.42% weekly increase on my last report. Before that, it was a weekly increase of 25.46%, so while the % growth is going down slightly each week, the number of new xJewel wallets isn’t really going down. I view this as positive still given that we still don’t even have quests other than the “LITE” quest of the wishing well.
Not only did Top 50 wallets holdings decrease by 9.73% but their % as a total of all xJewel also went down dramatically (27.83% decrease). Top 50 wallets now only control ~35.6% of the total xJewel compared to the ~50% they’ve held pretty constant to over the past couple months.
Bank Ratio Analytics
Annualized Bank Ratio based on the increase to the bank ratio for the past two weeks on an annualized basis was 65.98%, compared to the 40.92% annualized basis from the week on the prior report. I would attribute this modest increase to the fact that summoning increased dramatically with the release of the wishing well. I think we were stagnant sitting around Hero ID Mint # ~11,000 something prior to wishing well quest and think that we are pushing Mint # ~24–25k now. So there’s a lot of summoning and related tavern fees going into play there that are reviving that bank ratio.
I mentioned before that Tavern didn’t really do much on its own to spike this, but now with people being able to summon without paying $30 USD per tear, we’re seeing a LOT more action.
Jewel Analytics
In line with the xJewel number, top 50 total Jewel as converted decreased 6.78%. Jewel in circulation continues to go about about 3–4% per week (last report it increased 3.94%).
Adoption Analytics
These are some of my favorite numbers to look at each week.
Median wallet increased by 1.53% for this two week period, after decreasing 21.65%, 33% and 33% for each of the last three weeks. This means we are starting to find an equilibrium of a median xJewel wallet right around 17 xJewels, which would be ~27 Jewel, which would be ~$135, which sounds about right for a majority of crypto investors joining new projects (in my opinion). With 2,469 new wallets, this means we saw a relatively even distribution on both sides of the median and an average wallet size that remained relatively stable as well. Keep in mind also that the top 50 wallets holdings as a % and numerically decreased quite a bit, so we’re seeing a lot more people jump in in the shrimp range as usual but also in the average range (but less in the top 50 range), all of which I think are positive adoption metrics.
Dappradar metrics are great still — with unique wallets interfacing with DFK up 15.02% compared to the last report’s number (from two weeks ago).
You might recall last week that the 7 day trailing transaction quantity remained steady compared to 2 weeks ago, but is up dramatically from just a week ago. There was a bit of stagnation in anticipation of quest release, but the wishing well breathed renewed life into the transaction volume and things continue steady. Once the real profession quests release I think we will see this spike.
Top Wallet Movement
Hero counts added back for this chart this week. Special thanks to MrZipper in Discord for the hero counts.
Just a couple of quick highlights on this list:
- You may recall that Moby transferred their current number 1 xJewel wallet several weeks ago (and remain number 1 on this list), but kept their hero’s on their other wallet. Their other wallet has 349 hero’s (up from 208 from the report 2 weeks ago)!!
- We have another big player coming to the top 5gang with the number 2 wallet. Remember last report when the 10th wallet had over 900K of unclaimed Jewel from the gardens? Well you’ll see in the revised LP analytics below that they claimed, so that is surely where their increase in xJewel for this report came from.
- Last report’s LP analytics for reference:
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 16.6M locked balance! Although, that isn’t surprising given they have $2.32M staked in the gardens on top of all of their xJewel. Given that they have 16M locked Jewel, and only 15K unclaimed, they are claiming consistently rather than letting them build up.
The 10th wallet from the last report (now the 2nd wallet) had 993K unclaimed Jewel, and now only has 15k, so they claimed a huge chunk and also have 105 heroes compared to last reports 72.
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
Whale Watch Report #11 — October 31, 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:
Samichpunch’s Unofficial Beginner’s Guide
Comprehensive written guide with lots of links, including to various youtube videos on how you can get started if you are just learning about DFK for the first time:
Samichpunch’s Unofficial Beginner’s Guide
Where to learn more about DefiKingdoms?
In addition to my various medium articles you should definitely check out:
