Grant Proposal for incremental build plan of DeFi Kingdoms features integrated in, and built for, Klaytn ecosystem

Klaytn Governance Council Proposal


Kingdom Studios, the developer behind DeFi Kingdoms, is submitting a request to the Klaytn Governance Council to support and fund a build incentive valued at a total of $1.5 million in order to secure the continued development of the DeFi Kingdoms: Serendale realm exclusively on Klaytn for the next 12 months.

DeFi Kingdoms currently represents nearly 20% of all transactions and 60% of all gas usage on the Klaytn blockchain, even though only approximately 10% of DeFi Kingdoms transactions are performed on Klaytn. This provides the opportunity for rapid growth through measures to bring more of the existing transaction volume to Klaytn, in addition to new growth through player acquisition.

The proposed incentive will further the collaboration between Kingdom Studios and the Klaytn Foundation, deepen DeFi Kingdoms’ ties to the Klaytn ecosystem, and help foster innovation and adoption within the blockchain gaming industry.

Click the below link to see full proposal details and supporting data.


Looking forward to more DFK traction!

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$375,000 for ERC-20, ERC-1155, and KIP-7 token support contracts, $375,000 for Player vs Environment Combat, $375,000 for Expeditions feature, and $375,000 for achievement system do not seem to reflect realistic budgets.


Dear Kingdom Studios and Members of the Klaytn Governance Council,

First of all, I would like to express my appreciation for the comprehensive proposal put forward by Kingdom Studios. The potential collaboration and alignment of goals between Kingdom Studios and the Klaytn ecosystem is indeed an exciting prospect. The proposed build incentive could contribute to fostering innovation and growth within the DeFi Kingdoms and blockchain gaming industry.

However, after careful review, I must humbly express some concerns on certain aspects of the proposal.

  1. Though the outlined milestones are clear, I believe more stringent evaluation of the projected ROI including potential risks is necessary as $1.5 million incentive is a substantial amount. Furthermore, the commited goals’ incentives look like just divided into four, not detailly calculated from actual expenses.

  2. While DeFi Kingdoms represents a significant portion of transactions and gas usage on the Klaytn network, we’re concerned focusing on a single project might lead to overdependence as Klaytn aims to diversify investment across various innovative projects for more robust and resilient ecosystem.

  3. The proposal mentions pain points related to computation costs and user experience on the Klaytn chain. We strongly agree with this and therefore addressing these foundational issues should be prioritized as they will enhance the experience for all developers and users on Klaytn.

In conclusion, with the current market condition and situation, it seems that we need to focus on boosting Klaytn ecosystem itself rather than fostering certain service with an amount of Klay which is a bit overwhelming at this point.

I appreciate your attention to these concerns and look forward for further discussion. Thank you.


This looks like a project with great potential. Thank you klaytn for supporting start ups

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**This is undoubtedly a great proposal but considering the market condition right now, I think $1.5m is much and will have a significant impact on the price, for now, I think attention should be focused more on Klaytn’s revenue expansion…and with time, such amount will be a tip of an iceberg to what Klaytn Foundation can seamlessly offer, I hope the stakeholders understand **


The collaboration seems to offer growth for both parties

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As a DFK player I have to say this is a bad proposal. Most of these task where meant to be completed years ago. I don’t think another 1.5 million will make it happen. We need more clarity on how these funds are being spent. What happened to the avax incentives and earlier klaytn funds you guys got? This is really a 100k task. The bazaar has already been built and just needs to be ported which is fairly straightforward for any team to do its concerning that would take $375k to do.

We need a clear roadmap for the funds,

Also the **a new exclusive-to-Klaytn Power Token called JADE ** launch was completely laughable regardless of bear market conditions - clear pump and dump just like the CRYSTAL token


In the past 30 days, we have seen 3.6 million transactions from over 35,000 unique active wallets—over 18% of all transactions on the network during this period. In addition, the generally complex transactions from the DFK ecosystem regularly amount to 60-70% of the gas usage on the Klaytn blockchain.

Not to mention this is misleading as most of the new activity is from airdrop farmers (layerzero), total transaction volume in dollars is still down.

We’re also looking forward to progressing our partnership!

@DragonLordSMART Hello DragonLord! We do recognize the size of the grant as well, and are open to feedback on all aspects of the proposal. That said, we believe that furthering our partnership with the Klaytn ecosystem will lead to significant revenue growth for Klaytn as well through user acquisition, new partners and projects, and transaction growth, investing in a shared future.

@sbouts For the sake of clarity, our initial DEX launch has not been 2 years past yet. While we did anticipate a more aggressive timeline in the early days, hoping to have some of these features released by the end of last year or beginning of this year, events have shifted that, which we have always been very open about. Not least of which was the migration off Harmony.

Every feature we build takes time, and expenses are not just paying developers, but infrastructure and maintenance that is equally required. Additionally, this grant is not merely for the four milestones, but for all incremental building that occurs between those milestones, of which we have much planned, as well as those same infrastructure and maintenance costs. As stated in the proposal, our RPC on Klaytn alone costs over 100k/yr. Also found in the proposal is the full list of features we anticipate releasing over the next year, which is far from limited to the four milestones.

On the JADE token, the only people with liquidity at the launch were our players. No JADE was pre-minted to the project or the team, aside from 37,500 for initial liquidity which is still staked as such.

As for our volume on Klaytn, certainly, some can be attributed to airdrop farmers, but as your image shows, our transaction volume remains relatively consistent over the last 90 days, which dates to before the rumors of that airdrop, as does, overall, our volume. Additionally, the gas volume we cite in the proposal (60-70% of total usage) is since we have launched on Klaytn, 8 months ago. Not related to any recent events.

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Hello! The milestone amounts are not meant to be representative of solely the cost of development for that specific feature, but rather the cost of development, the incremental costs of infrastructure and RPC, and the cost of development for all features between those milestones as well. We have no intention of the four milestones being the only features we release within those 12 months, which the new feature list details more. We also pride ourselves on pushing the bounds of blockchain technology, and our features all include fully custom work, such as the Bazaar, the first milestone. As an on-chain order-book style dex, it extends beyond support contracts, with the ability for users to place market and limit buy and sell orders for any existing token, all in a custom built user interface, bringing simplicity to those users. That said, while we did lean toward simplicity in fewer milestones, we would be open to further dividing the grant with additional milestones.

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Hello Ikko! We appreciate your feedback and concerns, as well as your openness toward further discussion. That is, ultimately, the goal of this proposal, to be a starting point for discovering mutually beneficial ways forward and that cannot happen if concerns aren’t shared.

To respond to some of your concerns directly:

  1. On the milestones, you are correct, we did lean toward simplicity and uniformity of fewer milestones. That said, those will not be the only features we release over the course of the 12 months, with more listed in the upcoming features in the proposal, just prior to the milestones. If the GC would prefer more granularity and additional milestones, we are open to that route as well. In the current iteration, the milestones are meant to reflect development costs for not only that feature, but also additional features being delivered between milestones, as well as ongoing infrastructure costs. We are also fully supportive of additional analysis on ROI and risk, which if we can provide additional information and/or context, we are happy to do so.

  2. A vibrant and resilient Klaytn ecosystem is certainly a goal that we share. Part of the value that we wish to add to that ecosystem, beyond gas and transactions, is acting as a resource for enabling and assisting other projects in joining Klaytn. To that end, we have several measures available to other projects meant to assist them in getting started and growing:

  • First and foremost is ourselves. We are always willing to consult with others to lend our experience and technical expertise in any way they wish.
  • Additionally, we’re available to co-market these projects, and use our reach to introduce them to as many as we can.
  • Beyond that, our first milestone in the current proposal is an order-book style dex that supports all ERC-20, ERC-1155, and KIP-7 tokens, open for any project to take advantage of.
  • We also have an in-game raffle system, where tickets can be earned and entered for a chance at various prizes, with an established method for others to offer those same tickets to their users, as well as the ability to host custom rewards specifically for others using the system.

This grant is not meant to only be for ourselves, but for us to continue to find ways to improve and give back to the ecosystem as a whole.

  1. We are also in alignment here. We believe we can be of assistance in addressing these issues, and wish to be part of the solution. To this end, we would not only be continuing to work with the Klaytn Foundation team on the concerns, but also bringing and introducing partners that we have made along the way who, we feel, can also be of great value in reducing the friction of operating on the Klaytn blockchain.

Finally, we do also recognize that the size of the grant is substantial. In line with the goal of finding mutual benefit, all aspects of the proposal are open for feedback and discussion, not just the milestones themselves, but the totality of the grant as well. We look forward to continuing the conversation with you!


In accordance with the Operational Procedures of the KCF Grant Program Pilot, 14 August will be the first day of GC voting on KCF project proposals. As of 13 August, no proposals were endorsed by our GC members.

Instead of skipping the voting on 14-28 August, KF decided to bring the proposals from Kingdom Studios to the GC voting considering a wide range of feedback from GC Members and the Klaytn Community. KF found that the proposal recorded more than 700 views and 10 replies, which is larger than other proposals submitted around the same time.

By bringing this proposal to the GC voting, we would like to ensure GC Members have enough time to review the proposal and demonstrate that the proposals are given due diligence by the GC.

Using this opportunity, KF is setting rules of endorsing KCF grant proposals. We will share the rules with the Klaytn Community before KF starts the official KCF grant program.


We know that DefiKingdoms is contributing to Klaytn’s transaction, but I think 1.5mil is excessive.


Defi Kingdoms is very good. It will affect the Klaytn.
But I think 1.5mil is too much.

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The amount of subsidy is too high.
Excessive KCF support in the past led to a significant drop in the value of Klaytn, which only negatively affected the ecosystem. This can be confirmed by looking at historical data. Support should be given in consideration of the current market situation and the situation of the Klaytn ecosystem.

여기에 프로젝트 올리고 댓글 달고 필요성이 있나?
그냥 보여주기용으로 만들었을뿐이지 재단에서 맘대로 투표로 넘기는데
이전과 바뀐점이 한개도 없네

그러면 이런 과정을 안보여주고 투표로 넘기는게 더 좋을까요?
그렇다고 재단이 투표 넘기는 권한을 모두 커뮤니티에 넘기면… 예를 들어 여기서 좋아요 1000개 받았다고 투표로 넘어가면 그게 맞을까요?

Angbulee 분탕러입니다. 무시하세요.

It seems like they just invented some figures, I have noticed it with a few proposals I am reading here that don’t seem realistic budget vs timeframe.