We are happy to announce KittieFIGHT DEFI lending going live imminently with an awesomely revamped user dashboard that is easy to understand. Also all our internal tests showing Ethie NFT CDP’s generating +50% weekly Interest yields. We are happy to have the public participate in our public testnet events before moving to the next stage our live deployment scenario.
As a recap : We have pivoted KittieFIGHT by integrating permissionless lending markets via smart contracts, bringing an exciting passive income opportunity to Lenders. KittieFIGHT is a DeFI Lending backed, FOMO Mortal Kombat CryptoKitties MMO game. You can think of the KittieFIGHT lending and gaming system like an open source bank collectively funded by lenders, that funds the bankroll of a high yield casino/lotto which in turn returns yield to the bank and collective lenders proportionally. The difference is in this case games are funded collectively by DEFI lenders using Ether and the gaming model is a Cryptokitties mortal kombat themed MMO, with two opposing player groups battling with ETHER over a sizeable, initial Ether jackpot incentive, that swells to at least 10x its initial size to return lucrative winnings to players and interest to lenders. You can read more about it here
Lending and retrieving interest
A lender can generate 20% -70 % rolling compounded interest in a periodical week following 4 major steps on the part of the user
- Lender locks Ether in KittieFIGHT treasury for at least an entire week .
- Lender generates an Ethie CDP .
- KittieFIGHT treasury( Endowment ) uses collective funds in games through the week .
- Lenders burn Ethie CDP during the rest day, to redeem compounded interest and Ether principal .
KittieFIGHT DAO Governance
In a few weeks after successful deployment to the Ethereum mainnet, The system parameters maintenance and governance will transferred to our supporting community via an Aragon enabled DAO voting system. Thus drawing on crowd wisdom to steer the growth and direction of the KittieFIGHT gaming platform. Before enabling community governance capabilities, Governance token holders can still enjoy ETHER staking rewards generated as interest from kittieFIGHT games, by staking DAO organization tokens in the Aragon staking app. More information will be provided through subsequent blog and community updates.
Testnet & Mainnet
KittieFIGHT is currently deployed to the Rinkeby testnet and will be undergoing a live testing scenario with lending and gaming cycle between May 25 and 27th. Lenders can lend Rinkeby testnet Eth to the system before the 26th of May, participate in the public game on the 26th and burn and withdraw Ether principal and interest on Thursday 27th of May. The Ethereum mainet deployment plans are scheduled for early June 2020 with stringent restrictions and ultra low limits on amounts allowed within the system. Stringent restrictions and removal of funding limits within the system will come about with gradual introduction of decentralized community governance and with little to no incidences.
Summary
Our code is now open-sourced and more documentation around the system will be provided as we cautiously deploy. In time being Join our discord where you can hang out with our team and look to lend to the system or participate in our upcoming game on Monday May 26th . Thank you all for your patience. We are excited to be able to provide a way to earn passive weekly income with our innovative games even in these unpredictable economic times. Expect more frequent developments and update. Join our discord today!
