DeFi Kingdoms Whale Watch and Tokenalytics Report 2022 — Vol. 2 (January 23, 2022)
Nothing in this report is intended to be financial advice and is strictly for informational purposes.
Hi DFK Fam -
This is the second report of 2022. As noted in the first issue, I’ve shortened the name of this report to the DeFi Kingdoms Whale Watch and Tokenalytics report. Snapshot was taken on January 23, 2022. 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 index of articles which includes a comprehensive beginner’s guide).
Before we get into it, I’ve created an index for all of my DeFi Kingdoms articles. I highly recommend bookmarking and following my medium account so that you can stay current on my latest.
Special thanks to Magg (LP and hero valuations) and MrZipper (Hero count details).
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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 data of the LP holdings of the top xJewel wallets. I’ve looked into trying to do a separate table or section JUST for LP holders and people who have no skin in the actual game (i.e. no heroes or otherwise), but its not feasible with my resources to pull that data.
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Time since last report: ~14 Days
Analytics
Condensed this section into one table with the numbers and my thoughts in the right-most column.
You’ll notice some very big number swings on the xJewel side and that is largely in part due to our Moby Dick wallet both selling a substantial amount (in their affiliated wallets over the past couple week) in addition to moving about half of their remaining funds in this top xJewel wallet into the gardens. I’ll get into more details on that in the top50 Movement section of this report below.
Top Wallet Movement
Obviously the price of $Jewel really tanked since the last report (where Jewel was around $18). Some of you may be thinking that it was entirely driven by the top wallets — but from what I can tell that defintely wasn’t the driving factor.
Yes — there were some top 50 wallets that definitely cashed out some money, but nothing to the extent where I would be able to point and say — hey these 5 wallets tanked the price.
Let’s look into it a bit. I can’t analyze every single wallet because I just don’t have the time to be able to do that, but I do have some high level takeaways to share.
Our Moby Dick wallet (profile: Trout) has a few affiliated wallets. Here is what I noticed in their actions the past couple weeks:
- Moby Dick appears (and I say appear because I have not the resource nor the time to forensic this to the point of being 100% certain, but I’m pretty certain) to have taken ~$3M USD profits from Jewel sales from xJewel they withdrew from the bank. The 46% decrease in xJewel holdings you see below is more a result of them pulling out of xJewel and creating a large garden position (see LP positions of the top 15 wallets below.
- Moby Dick had another wallet that funded all of its Jewel and that had deposited into the gardens around weeks 1 and 2 of this game. I detailed this a bit in my last report. That wallet appears to have liquidated its large LP position and sold all of the Jewel into USDC. This totaled about $3M in sales. These $3M in sales happened in the past 24 hours and likely helped drive the price reduction from mid $9 to mid $8 today.
- Finally — Moby Dick’s hero holding wallet also sold about $500k USD worth of Jewel yesterday.
Again — these amounts in the aggregate are not even close enough of what is needed to make Jewel’s price crash. The reality is that we had an overall market crash, coupled with large wallets like Moby Dick that fueled the price dip.
There were other wallets from the last report, such as the #12 wallet (that sold $1M USD worth of Jewel) who also exited positions.
Here is a list of last week’s top 50 xJewel wallets and whether they remained in the top 50 as of today or whether they exited.
Note- this doesn’t mean they sold necessarily, it just means they aren’t in the top 50 xJewel wallets anymore.
Here is the movement for this week’s top 50 wallets:
LP Holdings and Total Value in Game by Top 15 xJewel Wallets (AND LOCKED BALANCES!)
Here is the LP holdings of the top 15 xJewel holders. As noted above, creating a tracker of wallets BASED on LP holdings would have to be entirely manual, I’d have to know the wallet addresses, or I would have to have extensive script writing experience that I do not have. Having spoken with several that do, it also appears this isn’t some easy analysis, so for now, I won’t be able to do an LP chart of wallets based on LP positions.
Prior Whale Watch Reports
Check out my Index of DeFi Kingdoms Articles for a list of all my prior Whale watch reports, among many other articles, including various specific strategy guides!
DeFi Kingdoms Lost Annals of Gaia
You can check out all of these volumes, which are compiled nuggets of knowledge on game mechanics that I’ve compiled from Devs in the discord. Check them all out in my Index of DeFi Kingdoms Articles!
Inner Grove Podcast
I recently started a podcast with some close friends where we discuss hot topics and issues related to gameplay in 20–30 minute segments. Give the channel a follow so that you can stay up to date!
https://www.youtube.com/channel/UChEe39RczjmF75lI2Fe8BxA
Samichpunch’s Unofficial Beginner’s Guide and Index
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
You should also bookmark my index of DeFi Kingdoms articles, as its the repository of all the DFK articles that I write:
Samichpunch Index of DFK Articles
Where to learn more about DefiKingdoms?
In addition to my various medium articles you should definitely check out:
Also check out Albus’ helpful links doc — which is an amazing compilation of various resources on all things DeFi Kingdoms
