One of crypto\u2019s most prominent GameFi projects, DeFi Kingdoms, now has its own subnet on the Avalanche blockchain.<\/p>\n
DeFi Kingdoms<\/a> (DFK), which originated on the Harmony One<\/a> blockchain, has deployed to an Avalanche subnet<\/a>, a scaling solution that involves \u201ca dynamic set of validators working together to achieve consensus on the state of a set of blockchains,\u201d according to the smart contract platform\u2019s documentation.<\/p>\n Synapse, a bridge protocol, has seen volumes surge as users move assets to DFK\u2019s new subnet. Prior to Mar. 31, Synapse had never seen volumes top $157M. After DFK\u2019s subnet launch, it more than doubled to a record $330M and accounted for 82.5% of the total bridging volume on Synapse.<\/p>\n DFK\u2019s iteration on Avalanche is called Crystalvale and will get its own token, called CRYSTAL, according to the GameFi\u2019s project\u2019s Medium<\/a> blog. DFK already has a JEWEL<\/a> token which can be bridged over to the Avalanche subnet to be staked and earn CRYSTAL when paired with xJEWEL, a staked version of the token which grants its holder access to fees and governance rights<\/a>.\u00a0<\/p>\n DFK\u2019s Twitter reported that staking rewards were 4,231% APR as of Mar. 31, though yields have since dropped to 3,082% as of Apr. 1 as more stakers enter.\u00a0<\/p>\n There\u2019s doubtless early demand for the product \u2014 a noticeable spike in gas<\/a> spent, relative to Avalanche\u2019s normal operations, can be seen when DFK\u2019s subnet launched.\u00a0<\/p>\n Patrick O\u2019Grady, head of engineering at Avalanche, reported a 30% increase in transactions on Avalanche around the launch of the subnet on Twitter<\/a>.\u00a0<\/p>\n While the JEWEL token rose in the month leading up to the subnet launch, it\u2019s down 10.9% in the last 24 hours as of Apr. 1, indicating that traders may have bought the hype and sold the news.\u00a0<\/p>\n While the CRYSTAL token will have use cases like purchasing in-game NFTs and paying for other in-game actions, JEWEL will be used to pay gas fees on the new subnet chain, according to DFK\u2019s Medium<\/a>.<\/p>\n With the launch, the DFK has made good on its Dec. 6<\/a> promise to ship Crystalvale. Major players are taking notice \u2014 Coinbase Wallet announced an integration with the new Avalanche-based iteration of DeFi Kindgoms on Mar. 30, in anticipation of the subnet\u2019s launch.\u00a0<\/p>\n<\/div>\n![\"\"](\"https:\/\/lh3.googleusercontent.com\/DZ9CmH72QHHXar3lliA14HYq41fKJWRUC8LP8RgDITwi44OUFLJErpb7zDk8DBD6UaQErDaOUW1O32QHJ17fUQPvCrH7a-hLetLuyDl9noxV9ZaXBMvCnDZ8wUuHkj0DwesQ-OPR\")
Staking Rewards<\/h4>\n
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