My DeFi Pet Price Chart Update [DPET]

To explore more about this project, read our comprehensive analysis of My DeFi Pet.

My DeFi Pet (DPET) - An Introduction

My DeFi Pet is a pet game that combines the concepts of NFT collectibles and DeFi. It presents an exciting opportunity for pet enthusiasts, serving as a fusion of Pokémon and NFTs. The gameplay revolves around the collection, breeding, and evolution of NFT collectible pets, each possessing unique characteristics. The game transports players to an enchanted land where they can embark on adventures and uncover the magic concealed behind the mystic veil.

Launched on May 14, 2021, My DeFi Pet has witnessed remarkable growth, boasting 166,000 token holders and over 100,000 followers on Telegram and Twitter as of August 2021.

To achieve mass adoption, the team has introduced seasons, offering an alternative to the typical prolonged rhythm found in collectible games.

The first season introduces a competition with a grand prize of 100,000 USDT. Players are required to locate the NFTs that precisely match the specifications outlined in the contract and send them to the contract to claim the reward. The specific requirements will be determined after the launch. Tentatively, the prize necessitates possessing 10 legendary pets at the maximum level.

In addition to these features, My DeFi Pet offers yield farming opportunities through collaborations with other projects. The game also plans to introduce battle and storage options. The release of these elements and updates has been announced for Q3 2021.

The Founders of My DeFi Pet

My DeFi Pet was launched in April 2021 by a Vietnamese team associated with KardiaChain, the first interoperable blockchain in Vietnam and South East Asia. The CEO of My DeFi Pet, Trim Pham, also holds the position of CEO at KardiaChain. The COO, Liem Thai, serves as the CEO of Topebox, one of Vietnam's prominent game development studios with over 15 years of experience in the game industry and media, along with 30 years as a passionate gamer.

The other three core team members are also affiliated with either KardiaChain or Topebox. My DeFi Pet enjoys the support of a four-member advisory team and a diverse range of venture capital funds, including Animoca Brands, Spark Digital, Axia 8, and Bixin Ventures, among others.

Unique Features of My DeFi Pet

My DeFi Pet offers players intricate gameplay designed to keep them engaged and entertained.

Players have two methods of acquiring pets. The first option involves summoning them by consuming a certain amount of DPET tokens to obtain a random egg. Alternatively, players can participate in pet auctions. A new pet is born every hour, and players can bid with DPET tokens for a period of 24 hours. Any unclaimed pet will remain at the Altar for future purposes after the bidding period ends.

Breeding is another interesting aspect of the game. Players can breed pets by combining two existing pets, resulting in offspring that inherit their parents' genetic traits. This allows for the creation of entirely new pets, as the offspring inherits features from both parents.

Pets have various evolution levels and capabilities, and players can feed them DPET tokens to evolve their pets. Additionally, pets can participate in battles and fight bosses to earn DPET tokens as rewards. Each boss level consists of 100 levels, with a new boss level appearing every 15 minutes after the previous boss is defeated or the time runs out. Players have a window of 12 hours to defeat any boss levels before they escape, except for the last boss, which allows for 48 hours.

My DeFi Pet has plans to introduce play-to-earn features and social components in the future. A mobile app is also scheduled for release before the launch of Season 2 in Q2 2022.

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Circulating Supply of My DeFi Pet (DPET) Coins

The total supply of DPET is 100 million. 21.875% of the tokens were distributed in a private sale (vested at a rate of 10% per month), and 1.5625% in a public sale. 16.5% of the tokens are allocated to the team but are locked for one year and then vested linearly over the subsequent year. 10% of the tokens go to partners, which are locked for six months and then vested linearly over one year. 3% of the tokens are allocated to advisors with the same vesting schedule. 1.25% serves as liquidity for the DEX, 18.8125% is held in reserve, and 27% is reserved for marketing, vested at a rate of 5% per month.

Security of the My DeFi Pet Network

DPET functions as a BEP-20 token on the Binance Smart Chain, while the game itself operates on the interoperable KardiaChain. The team intends to make DPET available on other blockchains and has plans to launch on Ethereum and Polkadot. Recently, they integrated a VRF function from Chainlink to ensure 100% randomness in their game.

BSC ensures security through the proof-of-stake consensus mechanism. Every 24 hours, 21 validators are chosen to validate transactions and maintain the security of the blockchain. To be eligible to serve as validators, they must stake a specific amount of BNB coins with Binance.

Commencement of My DeFi Pet Trading

My DeFi Pet was launched on May 14, 2021, on Pancakeswap.

Platforms to Buy My DeFi Pet (DPET)

DPET can be purchased on PancakeSwap, Gate.io, and Kucoin. If you want to learn more about how to start buying cryptocurrencies, you can read our comprehensive guide.

With the game's increasing popularity, the DPET to PHP price has seen a significant rise in the Philippines.