My DeFi Pet | An In-Depth Review
My DeFi Pet is an innovative project that allows users to adopt and breed unique digital pets on the Ethereum blockchain.
Suppose you are one of those who have always wanted a pet but have not had the time necessary to take care of it or to take more of your free time to clean up after it. In that case, My DeFi Pet will help you adopt a digital pet without too much stress.
My DeFi Pet is an innovative project that allows users to adopt and breed unique digital pets on the Ethereum blockchain.
A group of blockchain enthusiasts first proposed My DeFi Pet in the fall of 2021. After several months of development and testing, they officially launched the platform in early 2022. Since then, it has attracted a growing community of users who are drawn to the unique concept and fun gameplay.
My DeFi Pet Explained
My DeFi Pet is an innovative blockchain-based gaming platform that allows players to collect, summon, bid, breed, improve, battle, and trade unique digital pets. The game is available on Binance Smart Chain and KardiaChain.
These pets, called “CryptoPets”, are unique, each one having its own attributes and traits. The concept of My DeFi Pet is simple: users can adopt a CryptoPet through various means, such as summoning them using cryptocurrency, bidding on them in auctions, or breeding them with other pets.
Once a user has adopted a CryptoPet, they can breed it with another to create a new, unique offspring. The attributes and traits of the offspring will be determined by a combination of those of its parents. Additionally, users can earn crypto rewards by participating in breeding and trading events on the platform.
My DeFi Pet was created to bring some fun and excitement to the world of decentralized finance (DeFi) while also allowing users to earn rewards through breeding and trading their CryptoPets.
The evolving system allows players to improve their pets, make them more powerful, discover new, rarer pets, and gain value in their collection.
The game also features a battle system where players can pit their pets against each other to earn rewards.
The battle system in My DeFi Pet is turn-based, meaning that each pet takes turns attacking the opponent. Each pet has different stats, such as attack power, defense, and speed, which determine how it will perform in battle.
The pets also have unique abilities and attributes that can be leveled up to gain new skills and strengths. Players must strategize and choose which abilities to use in battle to emerge victorious.
My DeFi Pet users can earn rewards for winning battles, such as in-game currency or items used to improve their pets’ skills. These rewards can be earned by participating in both player-vs-player and computer-controlled battles.
The DPET token is the ERC-20 standard token and represents the exclusive digital token used on the My DeFi Pet platform, serving as a means of conducting transactions and representing in-game assets. The token operates on blockchain technology, thus ensuring its security and transferability. It is intended to be used only within the My DeFi Pet ecosystem and is not accepted as a general medium of exchange for goods and services outside the game.
The goal of the DPET token is to provide a secure and decentralized way for players to interact and transact within the My DeFi Pet ecosystem.
My DeFi Pet is particularly well-liked in Asia, with a strong following in the Philippines, and has the potential to become the most widely played blockchain game in the region. Its rewards for players are noteworthy, as you can see by checking the DPET to PHP price rate.
Getting Your First DeFi Pet
Here is a step-by-step guide to getting your first CryptoPet:
1. Visit the My DeFi Pet website and press the play button. Currently, it is only available on PC, but in the future it will also be available for iOS and Android.
2. It’s also necessary to have a Metamask wallet, which is a digital wallet extension and can be downloaded as an add-on for Google Chrome.
3. If you don’t have an account on Binance, create an account in order to purchase BNB coins.
4. After acquiring BNB coins, they need to be transferred to your Metamask wallet and exchanged for DPET tokens through PancakeSwap. In order to make this swap, your Metamask wallet must be connected to PancakeSwap.
5. Return to the My DeFi Pet website, select the “On BSC Chain” option, and connect your Metamask wallet. Once connected, refresh the page, and you can play the game.
6. Once you have DPET, you can browse the marketplace for available pets.
7. Once you’ve found a pet you like, you can purchase it by clicking on the “Buy” button and approving the transaction in your connected wallet.
8. Now that you have your own pet, you can raise and breed it, as well as participate in battles with other players. You can also earn rewards by participating in events, breeding, and staking on your pets.
9. Keep an eye on your pet’s attributes and abilities, and improve them to have a stronger collection.
The whole process is easy to follow. However, for the integrity of the steps, make sure you are aware of the latest updates that the My DeFi Pet team makes, so stay constantly connected with their website.
Tokenomics of DPET
DPET has a total supply of 100 million tokens.
Of these, 21.875% were sold during a private sale and released gradually (10% per month). A further 1.5625% were sold during a public sale. The team has 16.5% of the tokens, but they will be locked for one year and then released gradually over another.
Partners have 10% of the tokens, which will be locked for six months and progressively released over one year. Advisors have 3% of the tokens, with the same vesting schedule. 1.25% will be used as liquidity for a DEX, 18.8125% will be held as a reserve, and 27% will be reserved for marketing and released gradually at a rate of 5% per month.
Pros and Cons of My DeFi Pet
Pros:
- Immutable ownership – The use of blockchain technology allows players to truly own their virtual pets, as they are recorded on the blockchain and cannot be tampered with;
- Decentralized – The use of smart contracts allows for a decentralized and transparent system for trading and breeding pets;
- Passive income – The breeding, staking, and trading of pets can provide players with a source of passive income;
- Collectible aspect – Each pet has unique attributes and rarity levels that can increase its value.
Cons:
- Complexity – The game may have a steeper learning curve for new players unfamiliar with blockchain technology or idle games;
- Volatility – The value of the pets and the DPET token can be highly speculative and may be affected by changes in the market;
- Lack of wide adoption – as the game is relatively new, it may not have a large player base yet, and the marketplace may not be as crowded as some would like.
Is DPET Legit?
A few things are clear: My DeFi Pet is a new project that has attracted many users and is considered perhaps one of the most promising blockchain-based games to emerge in recent times.
The determination of whether a specific platform or system is a scam or not can vary depending on individual criteria. You should consider all options and make an informed personal decision through this review of My DeFi Pet. However, always keep in mind that the final decision should be yours only.
Furthermore, to fully understand the nature and operations of My DeFi Pet, it is recommended to conduct thorough research on the website, as well as gather information from testimonials and other sources available on the internet. The potential future of the project is given the controversies surrounding it.
Featured Image: zipmex.com
