DEFY, the popular move-to-earn app, has announced the launch of their $DEFY token through IEO and IDO platforms on Monday, 15th August. Built on the Polygon Layer 2 network, the move to earn game is making a name for itself. This exciting development will make the $DEFY token available for all players. We will be talking about this development, along with some information about the IEO and IDO platforms. Let’s get on with the article.
Who Are DEFY Labs?
DEFY Labs are the makers behind the move to earn app, DEFY. The app is slowly revolutionizing the move to earn industry with unique virtual reality gameplay features. DEFY Labs have years of experience developing mobile apps, with their previous District Race app, and other popular fitness apps for some huge corporations. Altogether, DEFY Labs apps have surpassed over 700,000 global active users, partnering with some top brands such as Adidas, Apple, and MasterCard.
What makes DEFY Labs unique is the financial emphasis. Their co-founder has a strong knowledge of international finance, with a huge existing knowledge of cryptocurrency, and move to earn gaming. Additionally, several team members have an avid interest in digital marketing and AR gaming. Part of their mission is to encourage people to go outside and move around in the real world, with the help of AR, of course.
Token Allocation
In DEFY, there is proposed a total supply of 2.5 billion $DEFY tokens that are spread across nine pools. The tokens are distributed across many phases, with no extra burning or minting allowed in order to support the game economy. Take a look at this release schedule below and the allocation summary from DEFY’s whitepaper.
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IEO and IDO
DEFY have announced the proposed token allocation, with 26.5 million proposed in IEO and IDO. The token sale begins on 15th August, with 18 million IEO and 8.3 million IDO. In regard to tokenomics, IDO is a crypto token offering that occurs on a decentralized exchange and is immediately listed on the DEX via which they were launched.
IDO
IDO acts as a permissionless crowdfunding platform that allows easier fundraising in the crypto space. DEFY is launching an IDO on the Polkastarter platform, meaning the coin is being released via a centralized liquidity exchange. But, what is this benefit, and why does it matter to DEFY players?
Essentially, IDOs are considered a fair way to launch a new token project, with successful projects including Raven Protocol IDO and Universal Market Acess Protocol IDO. IDOs are generally favored because it is decentralized, meaning new possibilities open up in the crypto market.
When raising funds for DEFY, an IDO will provide instant access to liquidity and trading, cutting out any of the waiting and nitty-gritty details. DEFY using IDOs is also beneficial because it will assist in streamlining and assisting users. This will happen by delivering a secure and safe wallet, trading platform, and singular interface for users to access tokens. IDOs can also support several types of wallets, making it pretty versatile.
IEO
IEO is also happening on 15th August, with 18 million $DEFY tokens available.
The offering will be via Bybit Launchpad, where all 18 million DEFY tokens will be available by committing BitDAO tokens or signing up for the USDT lottery. Bybit launchpad is used for popular crypto exchanges with a great track record. It is speculated that DEFY is using Bybit due to its advanced ecosystem and NFT marketplace that aligns with DEFY.
How do you grow a community before token launch? Well, IEOs often enable the project and token to be showcased to wider audiences and potential investors. And this is all before the launch. By using Bybit, we can suspect that DEFY will gain amazing visibility. This is emphasized even further through the use of Bybit’s launch packages. These launch packages include events, campaigns, and competitions that will successfully draw attention to DEFY and Bybit.
How To Play DEFY
DEFY is a location-based AR game with futuristic narrative elements. in DEFY, the gameplay is based in 2048, when Future Systems, a corporation, has taken over global internet networks. Because of this digital dictatorship, the population has no privacy over their online activity and general well-being. The game merges game-fi elements with an innovative storyline, allowing players to become kha0s operatives to take down the widespread corporation.
Want to know how the DEFY game works?
Check out the DEFY game loop, with all the details of how to play, earn and fight back against Future Systems
Soon we'll be revealing our rewards structure for the Alpha release phase
Mission 1 begins in 12 days. Get ready operatives 👊 pic.twitter.com/KiKic6hlwX
— DEFY (@defydisrupt) April 2, 2022
DEFY gameplay features controlled funds that are distributed into Future Systems wallets that are located around the world. You need to scan and hack the Future System cell towers in order to track the wallets and steal the funds. Virtual private masks hide your operative identities, which are NFTs with energy levels and attributes. In order to charge them and level up, you need to spend $DEFY tokens.
Final Thoughts
Potential partnerships and publicity could arise from the $DEFY token launch. Releasing the game token via IEO and IDO may successfully draw attention to the game, and its future. We don’t know about you, but we look forward to the token launch.
