Singapore – The DeFi project KingSwap announced today the launch of its NFT staking program with raffle games. According to the executives, this platform aims to earn higher yields while driving mainstream DeFi adoption through gamification. Besides that, KingSwap will offer limited-edition digital collectibles that are tradable on Rarible and OpenSea.
With KingSwap’s new NFT staking programs, users can stake their King, Queen, or Knight NFTs for different timeframes between three to 48 months. It is almost similar to a bank’s Certificate of Deposit. According to KingSwap’s executives, investors will earn at least 60% APY for staking Knight NFT, 80% APY for the Queen, and 100% APY for the King NFT, within the 12-month commitment.
KingSwap Senior Advisor Malcolm Tan revealed that they came up with this exciting raffle game to provide better rewards to its customers while earning the loyalty of $KING token holders. Currently, KingSwap has already seen thousands of enthusiastic users join the platform’s first few raffle drawings. The company’s Senior Advisor stated that KingSwap continuously looks forward to providing better rewards to the community with limited-edition NFTs.
At the time of writing, KingSwap already rolled out plenty of NFT games inspired by slot machines and poker games, giving users more opportunities to stake their NFTs and get higher chances to earn rewards. KingSwap confirmed that players could utilize the NFTs in various games in the ecosystem. They can also sell and trade the tokens as digital collectibles on Rarible and OpenSea.
Aside from the exciting slot machine games, KingSwap released a Sit and Go Poker concept, where players can convert 20 $KING tokens to Knight Lancelot NFTs for a chance to win greater rewards. Upon winning, users can choose whether to exchange them for ETH or take their Queen NFTs on KingSwap.
The DeFi project has undergone extreme UAT testing to minimize the risks and roll out the customers’ best features. Some of KingSwap’s backers for this project include Plutus VC, Alpha Sigma Capital, and 7CC.