DuckDAO
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DuckDAO

DefiCity — AMA Summary

On Friday the 7th of May, the DuckDAO community had an AMA with Rafael van den Berg and Max Nestler from DefiCity.

DeFi City gamifies decentralized finance through it’s browser-based virtual world that allows users to build interactive cities, and manage farms across different chains and protocols. Users will be able to provide liquidity, borrow, lend, stake, and harvest their yidl across different DFi platforms in one click directly from their city!

Cities will be set up in 256 square tiles, each of which can hold a unique building representing a farm or in-game item — such as NFTs purchased on OpenSea, statues, or other cosmetic items.

Helpful Links:

Participants:

DeFi City — Rafael van den Berg — Product Lead

DeFi City — Max Nestler — Community Lead

DuckDAO — Pep — DuckDAO community representative

Please note that the following summary has been edited for clarity.

Pep

Welcome everyone to another DuckDAO AMA.

We are joined today by Rafael van den Berg and Max Nestler from Defi City

On behalf of the DuckDAO community, I’d like to welcome you to our channel :)

Hey Guys!

👋

Rafael

Well hello there!

Thank you for having us on this AMA session. We are very happy with all the feedback and support we are getting so far. We will make sure everyone can use and enjoy the potential of this project.

Max

Good evening guys! — what a pleasure to be here 🙂 — thank you for having us. And I also want to welcome all the DUCKS

Pep

😘

The pleasure is ours guys.

Let’s get this party started, shall we?

Rafael

Yes yes :)

Max

Let’s do this

Pep

Can we start with an introduction for yourselves; what are your backgrounds/experiences both in the traditional and crypto spaces.

Can you also talk a little bit about some key Defi City team members that are not here with us today for this AMA?

Rafael

Sure thing!

My name is Rafael van den Berg and I am currently living in the Netherlands. I’ve been in the crypto space for a very long time, mining my first bitcoins in 2011. I have seen a lot in the crypto space, the ups and downs and it is very beautiful to see this space evolving and getting more accepted. I am a developer and working in various disruptive industries — it’s an honor to be participating in the crypto space.

Pep

Wow 2011… what a fabulous time to enter this space!

Max

Hey, my name is Max Nestler and I am living in Germany.

I have known Rafael for a long time — he was the one who introduced me to the crypto space.

I went with him through all the ups and downs the average guy has in the crypto space.

I used to be a digital consultant and moved to a startup accelerator 2 years ago. Since Raf introduced me I am hooked to this lovely field.

Regarding our team members, we have a big team consisting of developers/game designers/artists all working hard to deliver DeFi City. But as things progress I think we will grow even bigger 😛

Rafael

I know… it’s quite some time

I have seen a lot in the meantime, I bought my first litecoins in 2013 though as I was still young and had no capital to invest.

Pep

Still a great investment! I didn’t enter until 2016 so I consider myself quite late… but you guys did fantastic!

Rafael

We are all still early ;) don’t worry

Pep

Yeah, I know. But still… I have millionaire dreams lol

Max

I was not that early 😕

But it is sure the best time to be in this space right now

Pep

Agree!

Ok ok, let’s get these questions started!

Let’s start with a very broad question about your project — can you give us a high-level summary of what Defi City is? What are you building, and how can people participate?

Max

Ok sure

DeFi City is all about farming. We noticed that DeFi and its concepts are hard to understand, therefore we are trying to gamify it while giving a utilization for experienced users as well.

By building a NFT based ecosystem where you can track and manage your farms this is how we try to accomplish this.

Rafael

We both faced the issue of farming/staking being not that easy or user-friendly. Also, it is not that easy to educate yourself on permanent loss or other pitfalls in this field. We have tried to bring multiple farms in one place, educate the user and make it as easy as possible for them.

Pep

That’s great… I’m sure many will find that very useful

It really isn’t! I was struggling with farming something just yesterday and thought how are the noobs going to handle this?

Max

We want to bring DeFi to everyone

My dream is that my mother can do it as well!

Rafael

It indeed can help with understanding the concepts of DeFi while having the opportunity to manage and track different protocols from one central place.

Pep

That really should be the goal. Everyone (not just the banks) should have the opportunity to win

Do you have any Coin Burn/BuyBack systems or any Token Burn plans to increase the value of Token?

Max

Yes, we have a coin burn mechanism. For every scroll -> NFT a part of it will be burned thus deflating the total supply

Rafael

This basically means every time you purchase a scroll a part of it will be burned. This makes the ecosystem deflationary. It is a difficult tradeoff to think about the token amount burned and respect the price increase playing the game. But we are confident that our solution handles this properly and will benefit the user experience.

Max

Well said Raf 😉

Pep

Ok thanks for the clarification

Pep

What do you think about the opinion that blockchain-based gaming processes are slower than regular games? How can DeFi City provide a smooth gaming experience, while taking advantage of blockchain technology?

Rafael

This is a good question

Well we try to achieve a smooth gaming experience by doing the transactions on the Polygon chain making it cost effective and fast. For in game activity and changes we will use a local database to keep track of the users activity within the game. Maybe even running transactions in the background so you can keep farming. The game experience is really important to us since it is the first impression the user receives.

I hope this makes sense

Pep

So while the user is in the game, farming can also continue?

Rafael

Yes of course!

Pep

If I want to play the game, what is the minimum purchase of tokens/NFT required? Will we earn tokens/NFTs by playing games on your platform?

Max

To start the game, you will need to have a city NFT.

This NFT can be obtained by opening a scroll. The scroll has to be bought for 25 DeFi City tokens.

You only need 1 NFT to start the game.

The city NFT can be bought at our website when we release it 🙂

Pep

Oh, that would make it very convenient.

Max

Ya of course otherwise my mother couldn’t use it! 😂

Rafael

We want everyone to be able to use DeFi

Pep

It’s such a wasted opportunity when the user gives up on something because they found it difficult. I myself have done that before so I love it when things are easier and user-friendly.

Rafael

Indeed, that is why we try to remove the barriers while being interesting for more experienced DeFi users

When you bring your NFT to life by initializing it in the game, you can start farming. Depending on the properties of your NFT your additional rewards will be calculated. The rarer the NFT, the more additional staking rewards and airdrops you will get. Also having a better townhouse will give you more starting tiles while playing the game. We also provide a HODL incentive for early users, this means by holding your initial token batch you will be eligible for bonus tokens. We will make a snapshot every month to see who is eligible for the bonus. So better keep this gem ;)

Pep

Defi City plans to make yield farming simple, effortless, and accessible to everyone, but yield farming can be quite risky…

How does Defi City plan to manage these risks for users, as well as boost our yields?

Rafael

As we do not only have our game we are also a intermediar for DeFi protocols. We are aware of the risks in defi and want to address these concepts in game by showing how your investment behaves when it comes to impermanent loss etc. We do however have no control in the risks of other platforms.

Max

When it comes to farming DFC tokens, we will have a stable yield with low risk. The better the stats of your NFT the more DFC you will earn. BUT

As I already said before:

“Educating our users is also a huge bullet point on our agenda. We want to provide resources so the users are aware of what they are doing.”

Pep

Perfect :)

I can see that NFTs inside the Defi City game platform can have a different quality/rarity. I assume that rarity would affect both their power and value within the Defi City ecosystem.

How can they be used in the game, and how many types of Rarity will the NFTs have? Can you also give us some example “items” that NFTs in the game can represent?

Max

The city NFT, your building block for farming, has different properties.

These represent the farming statistics of DFC tokens and the starting tiles of your city.

By staking DFC as time goes on you will unlock more tiles in order to get more utility of the platform.

Next to that we will have in-game NFT items which are currently in development.

Rafael

You can think about cars, statues, tools, cosmetics etc.

Max

Maybe even influencers you might know appear on our platform and you can have them in your own city :p

Pep

Wow that would be interesting

Max

I agree

Pep

Actually sounds like a lot fun

Rafael

It will be ;)

Max

Fun + rewards = double the fun

Pep

I agree… that’s what brings users back!

Pep

Defi City allows users to borrow and lend across different defi platforms, in a gamified way. But how do you deal with cases of complex flash loans attacks which allow users to borrow more than their collateral value? Can you speak a bit about your platform’s security?

Rafael

Thanks for the question. This indeed is a problem…

When it comes to security of our DeFi Protocol and platform we can guarantee everything is audited and works as expected. As far as other DeFi protocols we will only implement valid and trusted protocols in order to guarantee the maximum safety for our users. However as defi is still new it has risks, there will be always risk involved.

As for DeFi City token itself, we are not planning to release flash loans just yet. As it comes with security issues we will have to think about it more thorough in order to guarantee safety

Pep

Well we appreciate any audits regarding safety as it helps enable the user to go further. I know one bad experience can really prevent a user from returning and it would be a shame because defi really is quite profitable.

Rafael

Unfortunately we see it way too often, yes.

Pep

I personally am new to defi but love what I am finding. Passive income for those of us who don’t have time.

Rafael

Once you understand the concepts of DeFi I am sure you will love it

We will help you with that :)

Pep

Ok so that’s what we have for our prepared questions. Now we will open the chat to our community for any questions they might have.

Duck (User @Maksyrn)

How can Defi City keep funds secure? What are the benefits of using Defi City?

Rafael

The benefit of using the city is having the ability to track and manage different DeFi protocols from one place. This means you don’t have to log in into each individual platform to see your rewards. Also it will give an overview in the total amount staked and you can immediately spot good and worse performers.

Duck (user @momfly)

What is the motivation for holding $DFC tokens long term? How is the $DFC token used?

Max

As DFC is a platform so that you can farm multiple tokens in one place — this is already a benefit for the users. On top of that, you can earn our native token. That means in case you are interested in farming/staking we might be a good place for you. — Above all, we try to make it as user-friendly as we can.

Duck (user @Opotatoo)

What will the future of gaming with NFT be like? In my humble opinion, games related to money can upset gamers. I still remember the big failure of the auction house in Diablo3.

NFT games can be exciting for investors but I suppose there’s a big gap between investors and gamers. That may be why I’ve invested as an investor believing “this is promising!” but haven’t played a game yet as an old-school gamer I have a feeling that “it’s not right”.

I would like to know Defi City’s perspective on this.

Rafael

In my opinion, the future will be good for blockchain gaming. Currently, there are some issues regarding speed but this will be optimized as there are more L2 solutions and scalability. We try to make the balance between the game element and the utility of the platform which makes DeFi easier to manage. No more excel sheets.

Duck (User @newmonk369)

Will there be inter-city trades?

Rafael

In the first phase, just the city can be traded. However, in the future, we want to give the ability to trade a complete city including LP positions.

Duck (user @CElllIFE)

How does Defi City plan to dominate the DeFi market? How easy is it to use Defi City?

Max

We try to make DeFi city as easy as possible. When entering DeFi I had some issues — in terms of knowledge but also I didn’t know how to use it properly. We want to give our users a knowledge transfer.

By doing it intuitive and user friendly so that people love our product we sure get a pie of the DeFi market 🙂

Rafael

Also, we will make it possible to copy other city strategies

Duck (user @starkyiv)

What can Defi City offer to solve the scaling problem? And how does Defi City deal with the threat of centralization?

Rafael

We will use L2 solutions to make it fast and scalable. Also, I believe with ETH 2.0 many problems will be solved. Regarding the centralization, holding DFC will also provide governance meaning in a later stage the users will be able to decide the direction of the game.

Pep

This was great gentlemen. Thank you for taking the time to educate our community about your project. We’re really looking forward to more positive user experiences in DeFi.

Welcome to the Duck family and Glad to have you on board!

With that said, the AMA is complete. Thanks for your time and much success!

Rafael

We are very excited to be a part of this journey! Thank you for having us!

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast-track their progress on the path to success.

Who will win? One VC or TWENTY thousand ducks?

Official Links:

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DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

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