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The first peak AscendEX with DeFi11 contributes to the explosive growth of GameFi

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The centralized game ecosystem with DeFi11 and Ethereum Layer2 is intended to capture the huge market share of traditional fantasy sports by solving a series of problems of centralized fantasy sports and become a growth engine for the expansion of GameFi'

Original author: AscendEX Institute

The DeFi11 protocol, which consists of the core components of fantasy sports, NFT games and sports prediction, is a decentralized game ecosystem. DeFi11 aims to solve the problems of lack of transparency, violation of users' privacy, and lack of auditability in the traditional sports world by means of DeFi. Its advantages lie in complete decentralization, user anonymity, no market manipulation and peer-to-peer trading without bookmakers.

At present, GameFi is still a hot spot in the market, and the "Play to Earn" model is attracting more people to participate in the blockchain gaming ecosystem. Many developers are also launching various types of blockchain games and related infrastructure to bring better on-chain experiences to DeFi users.

DeFi11 is the result of this trend. The DeFi11 team is made up of developers, designers, artists, and programmers. The team is dedicated to creating a decentralized ecosystem of fantasy sports and NFT games for users. In DeFi11, traditional sports users are allowed to participate in fantasy sports applications without permission and are unaffected by the fraud of the game platform and the lack of transparency in centralized fantasy sports games.

The pain points of traditional fantasy sports

DeFi aims to address the longstanding problems of centralised institutions by providing users with a safer, more transparent environment free of exploitation by middlemen. The same is true of traditional fantasy sports apps, where fraud and lack of transparency have become key factors limiting their ecological growth.

These problems are particularly evident in the following areas:

False winners

In order to make more money, the centralized platform will probably create a virtual winner during the competition, and other users will not be able to verify its existence.

Manipulate data and prize pools

Centralized fantasy sports apps can easily change their database data. And there is no prize pool accountability in its application, which can easily be manipulated by insiders.

The auditing system is not sound

Poor auditing means outsiders are unable to track their internal real daily turnover -- internal fraud is all too easy.

User privacy is not protected and regulated

In a centralized fantasy sports app, it is difficult to guarantee the privacy of users. Moreover, the behavior of selling users' personal information inside the centralized organization is often difficult to be supervised by the outside world.

To solve a series of problems with centralized platforms, the DeFi11 team launched a one-stop dream sports mobile APP that is completely decentralized. DeFi11 wants to continuously provide users with a completely anonymous fantasy sports service with no dealers and no market manipulation through the mobile application built on Layer2. And DeFi11 has passed the security audits of Certik, NonceAudits, and Quillhash.

DeFi11 ecology with explosive growth

With the well-established DeFi11 ecosystem, the number of APP downloads has exceeded 18,500 and the number of on-chain transactions has exceeded 40,000. DeFi11 aims to provide its customers with a first-class, centralized game experience with a basket of ecological features and generous incentives, including the smart wallet, Fantasy sports, NFT games, NFT market, transaction, token pledge, sports prediction, and working capital pool.

The potential for DeFi11 growth is due to the large market capacity in India.

According to statistics, considering the actual situation and various factors, the DeFi11 target audience capacity among Indian millennials is 252 million, while the total market capacity for DeFi11 fantasy sports among Indian millennials is 472 million. This means that one out of every two Indian fantasy sports users will have a chance to be thrown into the DeFi11 ecosystem.

DeFi11 is a defi-defying DeFi ecosystem, and users all over the world can join the ecosystem. DeFi11 has the opportunity to expand the DeFi11 global market and capture more user value.

For game developers, every time they launch a new game, they often need time to build their market. The DeFi Foundation provides them with a decentralized gaming ecosystem that is expanding and being driven by consumers. This means that the pressure to roll in the new game will be cut in half. By developing and selling games, game developers can also get certain compensation for DeFi11 native tokens. In addition, game developers can also use D11 tokens to pay for marketing and brand-related promotion expenses and enjoy certain discounts.

DeFi11 token economics

The DeFi11 token D11 is the only value medium in the ecosystem and can be used as a carrier for the value to flow between different games. Its total supply is 275 million. Token sales, including seed rounds, private rounds and public offerings, totaled 42.75 million, accounting for about 15.54 percent of the total supply. Among them, the sales price of seed round D11 token is 0.059 USD, the private price is 0.1 USD, and the public offering price is 0.15 USD.

In addition, the DeFi11 core team will receive 19.45% tokens, the early consultants will receive 2% tokens, and the value consultants will receive 1% tokens. 8% of the token will be used as a reward incentive and 4% will be used as a reward for future team members. The community will reserve 23% of the tokens, and the remaining 20% will be deposited into the agreement vault.

We can think of the D11 tokens as the common currency in the DeFi11 game economy. They have comprehensive and practical functions, such as paying for race procedures, purchasing assets, and exchanging game rewards. At the same time, users can easily use it for P2P transactions, such as exchanging it for other digital or fiat currencies.

The specific functions of D11 tokens are as follows:

, & have spentGet a discount on fee settlement;

, & have spent[Fixed] Get extra rewards when taking rewards

, & have spentTo pledge for gain;

, & have spentParticipate in the financing of the game and purchase the IN-GAME NFT (for players and D11 token holders);

, & have spentGetting users' attention and funding (for game developers);

In the DeFi11 ecosystem and all related games in the future, D11 tokens can be used to settle various fees, pledge and reward loyalty. In order to develop a sustainable closed-loop ecological economy, all fees collected in the network will be redistributed as an incentive for active contributors within the ecosystem.

We might as well put ourselves in the context of real use. We can use fiat when we need to buy NFT assets or pay a fee to operate in a specific game environment, but we can also use D11 tokens to get a percentage discount. This discount applies to all the situations in the DeFi11 ecosystem, including participating in competitions and predicting the market.

We can even get an additional percentage of D11 tokens on the redemption bonus -- if we've already earned a $10 bonus, we can get $10 +X% D11 tokens on redemption. For DeFi11 games, all the contest rewards are given to the user as a combination of DeFi11 and D11 tokens. If we enter a game with D11 tokens, even if we lose the game, we can get participation rewards in the form of D11 tokens.

Meanwhile, D11 token holders can provide working capital to platform game developers through a liquidity pool. Game developers will pay interest on the funds through D11 tokens. DeFi11 retains a small portion of the interest and passes the remainder to a liquidity provider.

DeFi11 also allows users to pledge D11 tokens to get more bonus points. These points can be used to participate in fantasy sports and prediction markets, providing free value-added experiences for players. Players/game developers in the ecosystem can also choose to pledge a floating number of D11 tokens based on a fixed dollar value, which will act as a guarantee of correct behavior by the user. At the same time, players will gain access to and use exclusive game content, enjoy more freemium game experience.

However, any platformer/game developer who engages in uncharitable behavior risks losing the D11 tokens they have pledged.

In addition, in order to encourage more people to participate in the DeFi11 game ecosystem, there are also many conditions for DeFi11, for which players and game developers can receive D11 tokens. For example, if the player plays for a long enough time in the game every day, which is officially set for DeFi11, he can get the D11 tokens. In addition, while not the primary function of D11 tokens, they can also be used by game developers to reward loyal users and by advertisers to pay for advertising.

To be sure, these measures will to some extent encourage eco-users to hold on to D11 tokens for a long time. For the DeFi11 ecosystem, D11 tokens will be used seamlessly, so all the costs will be settled with D11 tokens in the future.

DeFi11 will build an economy that supports interoperability with the help of D11 tokens. When D11 tokens are used, the DeFi11 foundation will charge a handling fee. The market value of D11 tokens is expected to rise further due to future demand for D11 tokens in the gaming ecosystem.

It is worth noting that D11 tokens can only be used in the DeFi11 game ecosystem. The purpose of introducing D11 tokens for the DeFi11 foundation is to provide a convenient and safe way of payment/settlement for the participants in the ecological interaction. It is not, and will not be, an acceptable medium of exchange for the public (or a section of the public) to engage in any form of payment other than ecological.

According to cryptocurrency trading platform Pinnacle. AscendEX has announced that the D11 token will debut on Summit AscendEX and open trading on September 20, 2021 at 21:00 (Beijing time). At that time, AscendEX will help D11 improve liquidity and contribute to GameFi's ecological explosive growth.

Financing situation

DeFi11 and DeFi Game Ecosystem completed a $3.5 million seed and private financing round on June 4, 2021. NonceBlox, Kyros Ventures, Ex Networks, AU21 Capital, Fomocraft, Alphabit, Launchpool, TDeFi, Biconomy, MintedLab, Berra Bank, Magnus Capital, Dadventures, LVT Capital, Zokyo, Phoenix Crypto VC, Zero2Launch, BBS Finance, Trustdao Capital, ExNetwork, Synergia Capital, Propeller, Protocol Ventures, Block Chain Capital, Titans Ventures, O1ex, Empire Global Partners, GD10 Ventures, Global Block Ventures Capital, X21 and A195 Capital participated.

Team introduction

conclusion

The DeFi11 decentralized game ecosystem based on Layer2 is designed to solve the pain points of traditional fantasy sports and provide a safe, transparent and decentralized GameFi service for the vast number of users in India and even around the world. DeFi11 is exciting because, in addition to attracting DeFi players, it will also appeal to more potential customers in the traditional world, helping to expand GameFi's overall ecosystem and bringing more people to see the appeal of DeFi.