DeFi Kingdoms Whale Watch and Key Analytics Report #8 — October 10, 2021

8 min readOct 10, 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 8. Snapshot was taken around 4:15pm UTC on 10/10/21.

Most of you are here because you’ve been following these prior reports or are already part of the community and seeing this in the discord, on reddit or otherwise. 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).

Hero Tracking Update: Still in the works. This data isn’t so nearly friendly via Harmony Explorer.

Community Member Participation: A couple community members have reached out to offer their assistance in streamlining the data gathering, compilation and analysis involved in preparing this. I won’t lie, it is an effort, and I have to give a shout out to Frothy (Twitter: 0xfrothy) and Magg for their help. With Magg’s help we are able to bring you some analytics around the top 10 wallets are their LP holdings (see below for details).

You can also check out Magg’s work on the DFK “Watch” where he lists various Dev and administrative wallets associated with DFK for your viewing pleasure: https://dfkwatch.web.app/

Will hopefully be revamping some of the data sets analyzed as well as adding some new metrics for those who love data and how it impacted and impacts adoption of DFK!

-Discord: Samichpunch#2518

-Twitter: @Samichpunch

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WHAT IS THIS? This report focuses largely on xJewel wallets as wallets participating in the LP pools may not always be closely associated with the adoption of the game and are a bit outside the scope of this report. With Community member Magg’s recent help, I am able to add some details on how invested each of the top 10 are into the Gardens in this report. More detail may be available for these in the future to the extent it would be helpful!

Time since last report: ~5.4 Days

TLDR:

A lot of movement happened in the last 5 days, with 12 wallets exiting the top 50 scene. A lot of this is likely in part due to several of the top 50 holders investing heavily into Heroes after the mint by summoning and buying third party through the community run (not official DFK) pre-tavern Hero Trade/Buy/Sale discord server. Moby’s balance for the most part remained constant.

Top 50 as a % of total xJewel decreased 6.4% while the amount held by the top 50 increased by 4%, meaning that even though Top 50 xJewel holdings increased by 4%, the majority of xJewel’s whopping ~17% growth came from the smaller folks, which anyone reading my prior reports knows I love as a sign of more adoption. Moby’s vote power went from 8.47% vote power to 7.11% since the last report. Total xJewel increased ~17% since the last report, which follows a 20% decrease reported on the last report, so after the hero mint people are putting their Jewel bank into the bank in the form of xJewel.

The median xJewel wallet size decreased by another 9.11%, meaning that we are getting more and more smaller wallets joining the fray and staking in the bank, which I see as positive movement towards mass adoption. A bit of a unique metric, but one I like to track is how long it took for the most recent 100 profile creations. At the time of this report, it was just under 3 hours, compared to the 10.5 hours from the last report, a nearly 3x increase. Take a look below on the Adoption analytics for more details on how excited I am about how this is trending.

xJewel Analytics

Highlights here include number of xJewel wallets increasing by 20%, and the rate by which they are increasing having increased by 75%. The latter metric often being referred to as “acceleration”. Those are exciting numbers for adoption. More on adoption below.

One other item to note here is that while top 50 wallet holdings increased, their % of total xJewel (in other words their voting power) decreased by 7%. That means wallets outside the top 50 grew more than the top 50 wallets, also a great sign IMO.

Bank Ratio Analytics

Highlight here is that the annualized Bank Ratio increase was only 91% this week, down nearly 4x from last week, but you must recall that last week was an anomaly due to the 10% minting fees from Gen0 heroes going directly to the bank, so this is back in line with the typical 0.25–0.3% daily increase.

Since launch its gone up about 1% on average per day, meaning an annualized APR of 370.21%. Again, I suspect these all to move quite a bit once the tavern opens up sales of heroes is easier and more accessible to everyone.

Jewel Analytics

Normal increases in circulating Jewel (resulting from Garden rewards for the most part).

Adoption Analytics

Median wallet decreased by 9%, after decreased 24% in the last report, meaning more and more smaller wallets are entering the bank. My personal thoughts are that if we are seeing more and more small wallets staking in the bank, we are starting to capture the larger population and not just the whales staking thousands. Its not until we start to see all the smaller players joining the game and staking/providing LP with their earnings from playing the game that we will pick up the real steam towards mass adoption. With 724 new xJewel wallets since the last report, this means most of the wallets were on the smaller end to push the median down by 9%.

Dappradar metrics are up at an astounding rate over the past report with an increase of 26.53% unique wallets interacting with DFK over the past 7 days. I’ve moved to tracking Transactions in the past 7 days rather than 24 hours so you’ll see a % change on the next report for that metric.

Top Wallet Movement

Wallet Names: Started tracking using “0x…” wallet address format rather than the “One” wallet address format. Current wallets noted by “Wallet xyz” and where applicable, prior wallets noted by “Prior Wallet abc”.

Moby decreased holdings by only 0.52%. Not much here, just playing the hero game it seems, but no profit taking or new capital infusions.

Several of the top 10 had some pretty significant dips. Namely Wallets 4, 8 and 9. Outside of the top 10 we had some pretty big increases, namely wallets 10, 12, 13 and 16.

I continue to believe that Wallet 8 and Wallet 19 (Prior Wallets 7 and 9) are either closely affiliated or the same person, which if their positions were combined would put them at position 5.

Anyone interested in looking at specific movement can easily see that by looking at the holder list for xJewel on the Harmony Block Explorer here.

12 Wallets exited the top 50, all of which were in the 25–50 range. Not having the time to analyze each one, nor believing that it would even be helpful, my guess is that this is from trading for heroes via private party transactions and stacking heros for when the rest of Phase 2 rolls out.

Wallet 4 — This was prior wallet 2, it looks like the majority of their decreased position resulted from transfers to other wallets, i’m confident that these are hero purchases via private party transactions and escrow agents.

Wallet 10 — This wallet has received funds from dev wallet before so is either a Dev or a partner. Looks like at least a good portion of the new Jewel comes from new ONE into the system. Bullish.

Wallet 12 — If i’m reading it correctly they withdrew a VERY large Jewel-XYA pool position and staked a majority of it in the garden, resulting in their large increase. If you saw a hike in XYA pool APR’s for a bit, it was likely a result of that (seems like it would have been an over 20% withdrawal of the pool, but in any case APR’s are all consistent across the pools again). Equally balanced as all things should be.

LP Holdings by Top 10 Wallets

Thanks to discord user Magg (Magg is authoring the DFK 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 10. It gets more granular than this, but here’s some interesting data on how much of the LP pools these whales hold.

What I was a little worried I would find is that the Top 10 Jewel holdings were only the tip of the iceberg compared to their Garden holdings, but that doesn’t appear to be the case, as all but 2 of them have more value in the Jewel holdings than they do in their current staked garden rewards.

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

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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.