AMA Recap — My DeFi Pet (17 Jul 2021)

On Saturday, July 17, we had the pleasure of welcoming to our Telegram channel, Amy Nguyen, Development Manager (My DeFi Pet) who shared about the development of My DeFi Pet.

Here is the recap of the session.

Section 1: Introduction to My DeFi Pet

First please introduce yourself Amy. What did you do before crypto and did you have any other previous venture in crypto? What is your role at MyDeFiPet?

Before working for My DeFi Pet team — Kardia Labs company, my role was Assistant Global Liquidity & Cash Management Manager at HSBC Bank and also have three years experience in education services. Fortunately, I’m surrounding by a circle of mentors who have influence voice in Vietnam blockchain industry, they non-stop keep me update and inspire me being an independent crypto researcher. I have a belief that crypto is a future financial system, therefore, I accepted the offer as Crypto Business Development Manager at My Defi Pet.

Woa, from banking to crypto, you must have a lot of experience in finance. Is it hard for you when learning about all the crypto technology? I know it is a bit overwhelming.

I hope traditional finance experience can benefit My Defi Pet and blockchain industry in general.

I have to say that the crypto technology never sleeps and it grows more than 5 times compared to investment banking which stimulates people who involves need to be updated simultaneously.

Yeah, it’s true. Ok, let’s learn more about My DeFi Pet. What is the project about in a few simple sentences? For how long have you been working on MyDeFiPet? How many people are on the team?

My DeFi Pet is the initiative for our vision of a mass-adoption blockchain game. The name encompasses the three characteristics of the game: “Pet” raising game, with “DeFi” features integrated, and “My” personalisation.

I developed My DeFi Pet along the most memorable milestones of the project. Currently, our team have 30 employees in total (Game development: 15, Business Development: 4, Marketing: 6, Community Roles: 5) and also three well-known project advisors: Danh Ho — Chief Growth Officer (Yeah1 eDigital), Jerome Wong — Co-founder & CBO (Everest Ventures Group) and Wayne Lin — Founder of Axia8 Ventures)

So you have such a nice team, actually the same size as Krystal :D May I ask where your office is based?

Our office is currently located in Ho Chi Minh City, Vietnam. Earlier, we registered our business license in London due to our CEO & CTO’s background.

Awesome, Now we want to learn more about DPET features in the game, what is the difference between My DeFi Pet and other NFT games like Axie, CryptoKitties?

My DeFi Pet is currently on KardiaChain as well as Binance Smart Chain, with its in-game economy ran by the DPET token, a KRC20 and BEP20 token. The direct competitors can be seen as other games with Defi and NFT functions such as Axie Infinity and Battle Pets.

• Low entry barrier: Users are not required to have extensive knowledge about blockchain to play the game. Also, it costs much less to start the game.
• In-game Features: My DeFi Pet brings in the best graphics for the pets that make users excited to play. The gameplay is very smooth with features that would keep users engaged for a long period of time.
• In-game DeFi: Users would be able to stake/lend their pets with DPET tokens in the gameplay to gain various rewards.
• Personalisation: The key in-game function that sets My DeFi Pets aside from competitors is its ability to personalize the pets to the player’s everyday activity. Our project allows for the connection between health tracking apps and other apps for utilities or entertainment such as music or movie streams and the game itself. While the player engages in their lifestyle, the pets will earn EXP points and enhance them in a personalized way that matches the pet master’s lifestyle.
• KardiaChain Dual-Node Technology: Through using blockchain technology from KardiaChain, My DeFi Pet is able to utilise the Dual-nodes technology which has access to the ledger data of KardiaChain and Binance Smart Chain simultaneously. KardiaChain also allows for 10,000x cheaper fees than most market offers, benefiting the users.

That seems amazing, I can’t wait to play it. Is the game available yet?

Yes, feel free to log in and play as the game compensation is completed now

Cool, I saw you guys think about players of all level so that anyone can join, good job team. My DeFi Pet monsters look really cool, could you share more about them?

Thank you, our design team put great efforts on them. Each pet has unique features ands stats such as colour, shape, type, aura, mutation and rarity. Users can collect pets by tributing DPET tokens at the alter.

Once the pets have been raised, they can evolve by being fed DPET tokens to unlock new appearances as well as features such as breeding, battle and staking.

For each type of pet, does it have a limited amount?

There is no limited amount of each type of pet, however, every pet after breeding will own unique gene.

That is cool. I will get myself some after this AMA. Your art team is doing a really nice job. Now let’s talk about DPET token.Could you share more about its utilities and tokenomics?

In My DeFi Pet, the pets that users are raising are NFT themselves! When users buy an egg and hatch their pet, the game has minted that unique NFT. By different level and the way players raising pet will give each pet unique type of gene!

With the staking function released in KardiaChain ecosystem, users will be able to stake their NFT pets to receive more tokens!

With the pets being NFTs, users will also be able to trade, lend and borrow their NFT pets with other players!

That is really good tokenomics of DPET. No wonder you guys have a good run recently :)

You guys can wait for upcoming events, we will have many exciting news about to announce with other exchanges cooperation.

That is also the question I want to ask. Are there any upcoming and exciting news from MyDeFiPet that we, as users, should pay attention to?

My DeFi Pet and our beloved community have reached together multiple incredible milestones! Within 2 months of our official launch, we have achieved over 100,000 holders on both KardiaChain and Binance Smart Chain, alongside over 1 million eggs have been appeared in the game!

Therefore, our team will host an giveaway event to thank the rapidly growing community as well as to raise awareness to protect users from risks when participating in the NFT market.

Most recently My DeFi Pet has been announced as one of the top 20 projects for Binance’s Most Valuable Builder (MVBII) program, and Top 10 projects have the potential of direct investment from Binance as well as listing on Binance!

I hope together our project team with Pet Masters can make top 10 come true and bring better advantages to everyone ^^

Section 2: Answering questions from the community

First question from @DngGiaPhong2:

“Why is it better to build games in the blockchain and not in the traditional way with centralized platforms?”

Traditionally, game items only hold value inside games and trading items on the secondary market is prohibited. Blockchain games enable game items as NFTs, to be sold and bought outside the game on the secondary market.

To understand the value of digital ownership in blockchain games, we must understand how traditional online games work. Items and characters in traditional games belong to the developer as they are stored on the developer’s server. This opens it to threats such as another player hacking into the server and duplicating the item.

With the inspiration of NFT and solving the problems for the gamers who want to be rewarded with their legendary NFT, our company launched the My DeFi Pet team.

Second question from @thao534:

“Marketing plays an important intermediary role in the development of DeFi projects. What marketing methods has MyDeFiPet applied in project development?”

Our marketing plan consists of a tentative news pipeline which keeps our users up to date with the multitude of activities ahead.

Use of KOLs, sponsored videos and multiple giveaway campaigns will be organised occasionally to continue to promote the project.

The use of special in-game events is also part of our marketing plan in order to both create content for the media and create incentives to increase our player population.

Next question is from @Jaki73364096

“Gaming is one of the biggest industries getting into crypto, so it calls my attention that within the 3 priority use cases, the less priority is actually gaming, do you intend increasing the development of gaming facilities in My Defi Pet?”

My DeFi Pet just presents new roadmap in our development journey. In the new roadmap, which describes the game’s direction in detail, is officially released to give users the most comprehensive view of the game’s direction and development plan. Specificially, in the half year of 2021, we will focus to release in-game features such as skill system, social system, PVP battle, new UI & UX and so on.Users can use this roadmap to have the best ideas about our future plans to invest more efficiently and earn the best benefits

Next question I would like to know the answer too, it’s from @Sumo4676

“Would you mind specifying the institutions participating your seed/angel/cornerstone/presale rounds?”

May I also ask how much the team has raised?

My DeFi Pet is very excited to attract a list of reputable venture capital firms which are at their strongest in NFT (Animoca Brands), DeFi (Spark Digital), product development and strategies (Axia 8 and Bixin Ventures), blockchain well-established (DFG) and blockchain community resources (M6).

To be specific, I would like to share Token Metrics including Private and Public Sales we has raised.

Very low market cap raised I would say, this is a hidden gem you looking for :) Ok last question from @nickJuanOrtega

“Now that your team have already presented the new roadmap, a quick question pls. Which exchanges that DPET token are available to reach users?”

We aim to be listed on multiple DEXs & CEXs in order to increase exposure to our project as well as increase the trade volume of our token. We have already been listed on KickPad, MANTRA DAO (ZENDIT), Nami.Exchange, Bilaxy, PancakeSwap, UniSwap, ChainSwap, Hoo.com, Bitrue, MEXC Global and VNDC.

That is great, we have concluded the second part here. Once again thank you Amy.

I wish my answers has cleared up the audience’s wonder.

Definitely, thank you for all the informative answers!

About My DeFi Pet:

My DeFi Pet is a virtual pet game that combines DeFi, collectibles and your own personality.

My DeFi Pet is operated on supported networks including Binance Smart Chain and KardiaChain.

• Website: https://mydefipet.com/
• Facebook: https://www.facebook.com/mydefipet/
• Twitter: https://twitter.com/MyDeFiPet
• Telegram: https://t.me/mydefipet
• Medium: https://mydefipet.medium.com/