❔FAQ

Frequently asked questions

What is DeFi?

What is a DEX? Decentralized finance, of DeFi, refers to an ecosystem in which a decentralized application (DAPP) built on top of a blockchain network provides financial services without a centralized authority.

Through a DEX, users can use smart contracts to exchange funds. Liquidity means that users provide pairs of tokens to the DEX (e.g., KLAY and KING) which the DEX then uses to trade those tokens.

Using this method, users who provide liquidity gain rewards from their liquidity pool (LP), and these LP rewards can be deposited within Klay Kingdoms’ Farm to earn still other rewards.

What is the cost to get started?

The game itself is free, but there are gas fees for using blockchain functions such as trading on the DEX, generating LP seeds on the Farm, and for other functions that make use of the blockchain including exchanging KING tokens. Right now these fees are very low on the Klaytn blockchain so they are not a great burden to players.

Of course, you can use a variety of tokens, including KLAY to add to LPs connected to Klay Kingdoms or to stake KING tokens in the bank as much as you want.

Players will be able to use KING tokens to purchase a variety of game items and heroes as NFTs when they are released.

How can I purchase KING tokens?

You can purchase KING by going to the Klay Kingdoms official website (https://klaykingdoms.com), logging in by connecting your wallet, and going to the Trader. The NPC ‘Victor’ is waiting for the player 24 hours a day and the player can always purchase KING through him. The exchanges will take place through KLAY, and we anticipate supporting a wider variety of tokens from the Klaytn ecosystem in the future.

KING’s contract address: 0x49032b16be045da01b62e3607738b2f5b2404534

Where can I view the KING token’s current price?

You can check the price of the KING token on the Klay Kingdoms website. https://klaykingdoms.com

What is the difference between KING and xKING?

The KING token is the chief token in Klay Kingdoms and is used in all exchanges, including the DEX. If KING tokens are entrusted to the Bank, the player receives the governance token xKING. To be brief, xKING allows users to participate in the development of projects through the DAO.

How is the Bank’s APR set?

There is volatility in the APR due to the nature of profits coming from fees within the game. The KING:xKING rate can increase significantly if the game and its DEX are highly active, while if the opposite is true the rate can decrease relatively.

Why can’t rewards be received immediately? (Why is there a lockup?)

KING tokens that are unstaked after they have been staked in the bank will be received after a 10 day period, and during this period no staking rewards will accumulate. This is to ensure the stability of the KING token. To learn more about KING tokens, please click here.