G a m e F i 2 .0 A decentralized hub for P2E, NFTs and DeFi TABLE OF CONTENTS 03 Summary 04 A Promising Market 06 The emergence of P2E games 07 The problem with DeFi & P2Es 08 The solution- MoK’s GameFi Hub 09 How MoK is shaping the future of GameFi 09 How it works 10 Governance 10 Tokenomics 11 Tokens and emissions 11 Team 12 Why We Chose Kadena Summary The past decade has been a whirlwind of new technologies like blockchain, NFTs and cryptocurrency. This has opened new opportunities for investors and users alike. Today, the gaming industry is experiencing a ground- -breaking transformation from a centralized to a globally distributed one. MoK aims to increase awareness of these new technologies along with serving as a disruptor in the GameFi space by ushering in DeFi into blockchain gaming and building a safe, scalable, and decentralized world. We are working on empowering people worldwide by gamifying the way users can control their finances in a next-level GameFi ecosystem. In doing so, we are creating an environment where players, collectors, and investors can become part of a global community. The MoK Ecosystem builds a truly decentralized economy with a gaming component and is positioned for future growth. We believe that two major global trends align with our goals for this project perfectly - NFTs and P2E (play to earn). P2E is a modern, dynamic space and we are developing a protocol based on similar values. Building an all-encompassing hub for game finance with a collection of features and tools to bring value to all participants in the booming blockchain gaming economy. © 2022 T H E MI NERS O F KA D ENI A (MO K ) 03 A Promising Market 10 years after the world first heard of Bitcoin - Satoshi’s version of a global, peer-to-peer electronic payment system - the shift from traditional, centralized financial systems to decentralized finance enabled by blockchain technology is accelerating. We’re seeing peer-to-peer borrowing and lending platforms to tokenized assets, stablecoins and NFTs, the DeFi ecosystem now spans an interconnected network of integrated protocols and financial instruments. This presents a wide range of use cases for individuals, developers, and institutions. Cryptocurrency’s promise was to make money and payments universally accessible and DeFi seems to be the gateway to improving the user experience in crypto. It has provided a global, open alternative to centralized financial services we use today - savings, loans, trading, insurance and more. DeFi is not only an exploding sector of the crypto sphere but also one of the biggest wealth-generating trends in the world. In just over a year, the sector grew from $1 billion to surpass $100 billion over $219 billion of assets locked in various DeFi protocols across platforms such as Ethereum, the Binance Smart Chain (BSC), Polygon, Tron, and more. Just a decade after the world first heard of Bitcoin, the cryptocurrency market cap passed the USD $3 trillion in November 2021. While this growth has been a strong point in the crypto space, the market cap is still just a short fraction of the S&P 500 index (which stood at about USD $33.4 trillion as of December 2020) which is also a fraction of the global stock market investment market at about USD $80 trillion. This implies that there is a whole space and a long road for growth within the cryptocurrency market in the current and next decade. © 2022 TH E MI NERS O F K A D ENI A (MO K) 04 HISTORICAL CHART TVL IN DEFI Source: https://www.defipulse.com/ As the crypto industry continues to mature, DeFi lending markets will increase in volume and liquidity. New solutions will appear to challenge incumbent financial institutions. But to stay true to crypto’s core ethos of decentralization and inclusion, we need an approach that is decentralized, composable and multi-chain. The recent dip in the crypto market has opened many opportunities for investment ahead of the time when crypto prices bounce back. During a crypto bear market, projects with a clear goal and value can leverage lower prices to scale faster and more cost-effectively. As cryptocurrencies are forecasted to grow and more centralized players are entering the space, making it into the market right now gives crypto startups a strategic advantage when integrating their platforms and products into various spheres of life. Moreover, during a bearish market, investors are interested in those companies with a strong team and a clear business as a means to spread investments and thus ensure reasonable risk management. © 2022 TH E MI NERS O F K A D ENI A (MO K) 05 The emergence of P2E games The gaming industry is This growth is only increasing post the COVID-19 pandemic when more people are constantly increasing its plugging into the virtual world to find new presence and audience ways to interact, socialize, earn, have fun and develop their skills. Crypto currencies, DeFi across the world. and NFT are currently the most hyped and constantly evolving investment opportunities for users across the globe nowadays. The crypto market was able to bounce back In the past decade alone, the revenue from the from $150 billion in March 2020 up to more gaming industry has surpassed the combined than $ 2. 5 trillion ; achieving more than revenues of the movie and music industries. 1600% growth in only a year’s time. Players are spending more time engaged in playing multiplayer games online, creating Now, imagine the potential of the combined strong communities are being created, and forces of DeFi, the crypto market and P2E pushing the limits of this exponential growth gaming. P2E games are rapidly revolutionizing towards new horizons. the general functionality of decentralized finance gaming. They offer the flexibility But once blockchain technology emerges, that project need to evolve from just games we saw a new gaming dynamic come to with boring gameplays to micro economies. light - P2E (play-to-earn). This new approach Furthermore, P2E functionality now brings back to gaming goes hand in hand with another the value of DeFi and NFT markets. groundbreaking concept - that of NFTs (non- -fungible tokens) that allow players to actually But above all else, P2E games are not just own the artifacts they have gained by spending focused on delivering joy to players. They time playing the game and leveling up their are successfully increasing the rate of skills and getting economic benefits out of it. popularization of non-fungible tokens thus The opportunity to earn crypto while playing, as plugging into the broader crypto sector. well as NFT ownership, is what makes this new sort of game appealing. As P2E games continue to amass thousands of new and enthusiastic users, many participants Since 2021, play-to-earn (P2E) gaming has are now considering GameFi, as the easiest way moved mainstream in the crypto industry. to enter the complex world of cryptos. When Unlike in the past, when games were just for compared to the total art industry, gaming distraction or to pass time, millions of people industry, or the traditional finance market size, are now turning to P2E gameplays to make P2E seems to offer a way to inject a huge money and earn a living. As of August 2021, amount of liquidity into the GameFi market and Axie Infinity - one of the most popular P2E the general DeFi market. Blockchain creates games - had north of 1.8 million users and a borderless and permissionless ecosystem a daily sales volume of $33 million . In the with a kind of global decentralied access that Philippines, where Axie Infinity has 60% of its didn’t exist earlier and P2E will play a very crucial user base, people made their living expenses role in the future we are headed towards. playing the game through the lockdowns brought on by the COVID-19 pandemic. © 2022 TH E MI NERS O F K A D ENI A (MO K) 06 The problem with Defi & P2Es Despite the considerable success of these ecosystems, DeFi and P2E are still in their infancy. Therefore, ecosystems based around these concepts are often plagued with certain risks that hinder their progress. There are various significant challenges and vulnerabilities facing DeFi and P2E adoption in today’s world. The fragmented DeFi landscape sees many DeFi platforms based on layer 1 architecture, but they suffer from high transaction charges, hindering their mass adoption. A fundamental principle of crypto is reducing the costs of any financial transaction by removing intermediaries. Unfortunately, the proliferation of DeFi platforms has resulted in a surge in transaction charges due to the rising demand for resources. Users must register on multiple platforms simply to access DeFi services. This requirement of constantly needing to switch between different platforms creates a complicated and frustrating user experience. High gas fees and lack of proper education and transparency also add to the reasons why people with no former experience in crypto find it very difficult to gain entry into DeFi. While some leading platforms are working with blockchains to provide an all-encompassing user experience (e.g., Dex collaborating with a DeFi lending platform), cross-chain interoperability is far from providing a seamless user experience. The current DeFi ecosystem is highly segregated, which means projects are struggling with issues of over-collateralization, centralization, and liquidity while trying to develop products and platforms that appeal to their end users. Cross-chain bridges came to be in an attempt to establish blockchain intercommunication and eliminate blockchain infrastructures remaining isolated. While cross-chain bridges allow for interoperability and intercommunication between vastly different networks they are not without their flaws. Cross-chain bridge systems rely heavily on assumptions of trust and honesty between the two actors involved in the cross-chain bridge. If these assumptions fail to hold, then it is possible that assets on both blockchain A and blockchain B unlock at the same time, causing a malicious double spend. When the Ronin Bridge, the special side chain of the largest chain game Axie Infinity, was attacked, this resulted in a loss value of $616 million, making it the largest theft in the DeFi history. Existing P2E games may plug into the broader DeFi economy but their utility is extremely limited as their in-game tokens rarely attain value outside of the gaming ecosystem. This considerably restricts the earning possibilities of users and leaves their funds tied into tokens they can either sell or to compound. This is good only for early investors as those who join late are used as exit liquidity, at which point most P2E projects head to the $0 price point. To ensure financial management and decentralization of financial processes like borrowing and lending, DeFi and P2E must address these challenges. © 2022 TH E MI NERS O F K A D ENI A (MO K) 07 The solution - MoK’s GameFi Hub MoK is a DeFi protocol that gamifies the way that users can generate yields by participating in a complete ecosystem that is easy-to-operate and visually appealing. This interface is the first step towards unifying the financial ecosystem with yield generating opportunities and utility based NFTs. By leveraging the Kadena blockchain we have built a single platform for multi-asset, cross-protocol farming and swaps without sacrificing in-game experience. Our goal is to increase adoption for the entire Kadena ecosystem by aggregating the best elements from it into one beautifully packaged protocol that incentivizes users for their actions. MoK will start out as a standalone protocol with its own thriving utility and economy. Eventually, it will grow into a universe of interconnected dApps and games run on the Kadena blockchain that gives users easy access to all of Kadena and its features while creating additional incentives in the form of rewards that span the entire ecosystem. We envision MoK as a versatile GameFi protocol on the Kadena blockchain that will expand to become a decentralized hub for all projects across Kadena, allowing seamless integrations within MoK’s gamified Metaverse. By combining elements of interoperable NFTs, DeFi, and social elements in a gamified environment to provide yield generating opportunities, we are opening new ways for users to earn assets such as tokens or NFTs from other projects inside the collaborative ecosystem of MoK. Users can collect, swap, stake, trade, and sell everything they earn inside the MoK metaverse while uncovering new ways to participate in other projects and benefit from their own respective use case. MoK uses a revolutionary token economic system, which combines the advantages of NFTs and DeFi. We leverage decentralized and financially stable mechanisms together with game reward systems for the creation of a fun, rewarding, and immersive GameFi ecosystem. © 2022 TH E MI NERS O F K A D ENI A (MO K) 08 How MoK is shaping the future of GameFi At the heart of the MoK ecosystem is our stand-alone protocol driven by the $MOK token. The MoK protocol acts as a gateway into the DeFi space by removing barriers to entry as it enables native collaboration on the Kadena blockchain. By connecting projects, MoK unlocks a layer of composability that was not previously possible. Kadena is one of several blockchains that support composability with regard to project building in their ecosystem. A protocol like MoK can enhance the interoperability of teams and projects that develop protocols, platforms and products on top of each other and their capacity to exchange data across protocols and platforms. The combination of NFTs, yield mining, and the utility given to tokens via the MoK ecosystem is our approach to allowing P2Es to create real world value for users and encourage adoption and participation. Thus creating a true digital playground where users can play, earn, explore, socialize, swap, buy and sell, interact and own. How it works MoK will offer several game modes for players to choose from as they join. We will continue to expand the protocol by integrating elements from other Kadena-based projects into our own to increase its utility over time. The initial core gameplay will focus on enabling the synergy between NFTs and the ability of upgrading them to increase their performance and mining rewards. There are two ways to start interacting with the protocol: by minting a Miner NFT directly in the forge by purchasing one from the marketplace The user can then start accumulating rewards from his in-game actions. Rewards in the MoK ecosystem will come in the form of: $MOK $KDNM Ecosystem tokens NFTs Choosing which nodes to mine,or which NFTs and upgrades to pursue, will ultimately dictate the amount and types of rewards players will earn. Users can claim rewards immediately or deposit them into “Piggy Banks” or liquidity pools to unlock more yields. The gamified component of the protocol will thus provide opportunities to those who do not normally feel comfortable engaging in such DeFi systems. As the world of MoK continues to expand, more in-game areas will open up with unique social or financial opportunities for the users of the protocol to explore, interact with and earn from. By always expanding and providing additional content, we guarantee the use case and demand of the governing assets while making sure that driving adoption and lowering entry barriers are always at the top of our priority list. © 2022 TH E MI NERS O F K A D ENI A (MO K) 09 Governance MoK uses a dual-token model in which the $MOK token is the governance token of the MoK Protocol used to govern MoK’s DAO and to incentivize users. Its core functions in the ecosystem include: DAO governance Staking A reward for playing in the incentive periods Used to purchase ingame Items & NFTs $MOK holders are meant to influence the future of the MoK Metaverse by signaling their support for upgrades, introducing new games to the ecosystem, and acquiring rewards on holding and staking. The TownHall will be MoKs first attempt at decentralized protocol management, in which community choices will not only impact the way rewards are distributed, but also how the protocol expands and accommodates new projects.. Within the TownHall there will be two different DAOs. 1. Standard DAO were users can vote using their Staked $MOK On matters of governance 2. Game DAO in which users can vote using their Miner NFTs on matters related more towards the game functions Tokenomics The $MOK Token is the prime asset and driver of the MoK Ecosystem. It is used for governance while having utility all across the protocol. $MOK will be a tradable asset and featured initially on Kaddex as the prime decentralized exchange on Kadena. As we near launch, $MOK will be made available on centralized exchanges. © 2022 TH E MI NERS O F K A D ENI A (MO K) 10 Tokens and emissions We also aim to provide a vibrant virtual economy with ways to earn and trade. As we believe in community input, we will steer the direction of the project according to what the community thinks are fair and balanced ways to trade and interact in the virtual world, while also creating a fun and rewarding metaverse to explore. To achieve this, we will deploy two additional tokens with specific utility: Kadenium - $KDNM In-game utility token A reward for playing the game Used for accessing in-game services $KDNM will have an unlimited supply and can be traded on the secondary market. EXP Tokens - POW Acts as an additional reward for interacting with the MoK protocol Gained by most interactions- not necessarily P2E Used for upgrading NFTs Non tradable Team Having a solid management team and a proven strategy in place is fundamental to the success of our project. This is where MOK excels - the protocol is a collaboration between experts in the blockchain industry, professionals in startup development, fund management, gaming enthusiasts with deep ties to professional organizations and thought leaders in tech. MoK is the team’s first project on the Kadena blockchain. We believe that our experience in traditional markets & our love for the new world of blockchain allows us to create a flexible, composable and cross-chain protocol that combines the professionalism of Web2 with the fairness and transparency of Web3. © 2022 TH E MI NERS O F K A D ENI A (MO K) 11 Why We Chose Kadena We chose Kadena as the foundational blockchain of MoK because it is a rapidly-growing ecosystem in the crypto world. It is a proof-of-work, infinitely scalable Layer 1 blockchain that fits to the letter with the technical and philosophical requirements of MoK. Kadena’s near-zero fees & gas stations allow us to completely remove them for users in favor of creating a completely gas-free environment. PACT & Marmalade, Kadena’s smart contract language and NFT standard respectively, allow us to build a fully encompassing ecosystem that goes beyond security or decentralized ownership of NFT assets. MoK aspires to leverage Kadena’s innovations as much as possible to continue to expand its capacity, utility and scope. To drive innovation by example - pushing the infrastructure to its limits and by doing so, overcome the next milestone in the evolution of DeFi. © 2022 T H E MI NERS O F KA D ENI A (MO K ) 12 T H E M O K . I O
Enter the password to open this PDF file:
-
-
-
-
-
-
-
-
-
-
-
-