AMA Recap: My DeFi Pet
On the 16th of July 2021, Kristen, host from BSC Army conducted a successful Youtube AMA with John Huy – CBO of My DeFi Pet.
As usual, the Community has a lot of questions about My DeFi Pet’s path. Our guest from My DeFi Pet took part in a captivating AMA session that included the introduction, project in-depth review, and audience questions. If you missed the live AMA in person, read this recap for a more comprehensive look at My DeFi Pet.
Kristen: Hi, thank you all again for joining the live AMA today with us. I’m Kristen from BSC Army – the first decentralized autonomous organization for social media industries on Binance Smart Chain. Today, I’ll be the host, and joining us is John from My DeFi Pet. We’re broadcasting from our youtube channel so if you’re new here don’t forget to like, subscribe and turn on notifications for more interesting videos every single week and also please stay back until the end of this live to join our giveaway with a reward of 150 $DPETs.
John, are you to give a little introduction about yourself?
John Huy: Sure, hi everyone. Thank you BSC Army for having me today. My name is John, I’m the chief business officer of My DeFi Pet. The background about me is that I have the blockchain and studied blockchain technology since in 2015 and I worked at the KardiaChain – a blockchain company in Vietnam since 2019, and recently the team created this project and I became the chief business officer and the co-founder of My DeFi Pet in early 2021. It’s nice meeting everyone today.
Kristen: Well, it’s our pleasure to have you here as well. So, let’s get started right into
our live. For the first part, we’ll be talking about your project as a whole.
Part 1: ABOUT MY DEFI PET PROJECT
1. Could you tell us where you got the idea for the name of My DeFi Pet?
John Huy: The name of the project basically speaks for itself. It has three main parts: ‘My’, ‘DeFi’, and ‘Pet’. The ‘My’ means pet personalization – a feature that we will be rolling out later in the future update; basically, it’s to personalize your pet based on your real-life activity. A third-party app would be linked to the game itself to boost the certain stats of your pet depending on your activity area. Let’s say you work out a lot using the third third-party app and it would track that and increase the bonuses for your pet based on your strength. We already know ‘DeFi’ right? So if I include the NFT collection, play-to-earn, those will be integrated into the game content so the game will be
more in the RPG genre. People would be able to play the game and generate the token as revenue for the concept Play2Earn. ‘Pet’ means the NFT collectibles so that they can be traded, stacked, or borrowed. Those are features that we already have or we already know for the pet collectibles.
2. There have been so many pet games out there on the network so what do you think makes your project stand out from the rest?
John Huy: Our project is different in the way that the project itself is developed and built by two different teams. We have the team from KardiaChain which is the expert in blockchain Topebox is one of the best gaming developers in Vietnam currently. The way that they designed the pet and the game is based on the 3d rendering is different from a lot of pet games out there. The graphic is a little bit better and also the game content will be much more in-depth than just the regular collecting pets and trading.
What would you say is special about the content that you mentioned?
John Huy: Since Topebox has been in the gaming industry for a while now, we work with them to generate a lot of RPG content for the game, therefore, this game will be more of an RPG game instead of a regular NFT collection game. You’ll see more in the in-game future that those RPG in-game features will be available and also those features will also be the Play2Earn feature that attracts a lot of users.
What group of users do you think this game would attract the most?
John Huy: Currently, we have a base of users from the Philippines and Brazil. They are very attracted by the blockchain game and Play2Earn feature so as of now we have a lot of those players from those two regions. Also, we have some from the U.S and we have some users based in South Asia as well. Our goal is to expand the user not just to the blockchain community but also to the non-blockchain community as well.
3. Since you wanted to expand it to more non-blockchain users and players, I think some would struggle a little bit in the beginning. What do you think would make the game seem easier for those to learn?
John Huy: My DeFi Pet is a blockchain game so the users need to have some kind of learning curve in the beginning, but not too much compared to other games. The way that we design the game is that we have the UX experience, users’ experience that is very smooth in the way that people can just click the button and all the transactions and all the smart contract interaction will be executed at the fingertip instead of executing the smart contract by themselves. We tried to put ourselves out there as a gamer to test the game to see if we can improve anything that would make this process more streamlined.
4. You mentioned that the people who came up with this project come from two specific different fields. Can you tell us about your team members and what job they do and what work they’re in charge of this project?
John Huy: For the Topebox team, the gaming studio, currently we have around 20 people. We have the game developers, the game designer, the artist to draw all of the pets, the animation guy, we have the community managers as well. Basically, the game producer is there to manage the whole project. And in KardiaChain, we are in charge of all the crypto-related matters. For instance, the smart contracts, all the partnerships, or the listing, talking about different projects to see if we can partner up in some aspects of the game to make a collaboration between different products.
How did you guys meet up when you first started My DeFi Pet? Did you face any challenges while working together?
John Huy: In KardiaChain, we have a lot of good connections with all the traditional businesses so when we reached out to Topebox at the game studio, we discussed over brief ideas of making a blockchain game. The idea was from a trading competition in KardiaChain and the reward for that was to give the winners the NFT pets and then we designed a small arena for them to battle, whoever wins gets the grand prize. That was the original idea. Then, we kept designing the game into more like a traditional game in terms of RPG and incorporating the blockchain technology and Play2Earn feature.
For the second part of this question, the people from KardiaChain and Topebox know each other very well so we didn’t have a lot of issues working together. Since we had our goals and the view was very clear, we just focused on making this game as best as possible in terms of blockchain.
5. In that trading competition of yours, did you start off with a smaller scale model or did you use My DeFi Pet as your submission?
John Huy: At the time, it wasn’t My DeFi Pet. We were in KardiaChain and we hosted that trading competition for the outsiders to participate.
6. So far, what products does My DeFi Pet offer? What profit does it bring to the users and the developers?
John Huy: My DeFi Pet is a blockchain game where people can buy the $DPET tokens and purchase the eggs to hatch into a pet. Then, you can use the pet to play within the game ecosystem.
For the profit part, as of now, people can buy the game items at a very low cost compared to others because we’re in the early stage of joining My DeFi Pet. And of course, we will have more content coming in the future so those who joined early will be the most beneficial because they have had a lot of pets already acquired within their inventory.
When we launched the game and even before that, we completed the private sale with different venture capitalists so we gained a little bit of money there. We didn’t raise a lot because we were more passionate about the game than the money portion but surprisingly a lot of people joined our game and so far we have more than one million pets bought at the price of 3 $DPET tokens each. Our revenue for the two months after we released the better version would be 3 million $DPETs and right now I think I have around four or five dollars, you can multiply from that. That’s a lot of money but we didn’t anticipate that it would come out so well.
7. Would you give us a sneak peek of the game’s future updates or a recap of your latest achievement?
John Huy: The latest achievement that I mentioned is one million pets purchased in the BSC network, the total holders of the $DPET token reach more than a hundred thousand within two months, and there are around 40 to 50 thousand active players. We really appreciate the support from our users and also the investors because they made it happen.
And in terms of future updates, we recently released the roadmap:
Recently, we released the Breed function from the production feature within Q3. We will have a marketplace for people to trade, buy, and sell their pets. We have the stacking feature for the $DPET token. We will have more in-game features, such as the PVP teaser, the new UI UX. As I mentioned earlier, we focus a lot on the UI and UX to give the users the best experience possible and then some of these in-game features.
We also have the Season 1: Boss Fight event, this event is very interesting so we will share with you: as of now we have, let’s say a million pet bots, we generate 3 million $DPET tokens, so a portion of that amount will be given back to the community, to the users when they participate in this event. Let’s say there will be a big super pass that users can have their pet to battle, that would need a certain amount of level of the boss and each of the levels requires a certain condition of the pet to be fighting the boss. If people have pets with that condition they can join the battle and then and kill the boss at a certain threshold, limit. For example, at the 10 levels, the boss will have a bigger pool that will distribute to the users as well.
What type of ranking system do you guys plan on using for this event?
John Huy: This one doesn’t require any ranking system. It’s more of a collaboration between users to fight the big boss. If you have more pets to battle the boss the more reward you will receive.
What platform is it going to be held on?
John Huy: We are still designing it right now but it will be on BSC and since the game is run on KardiaChain, the event will be on KardiaChain as well. We will give out the announcement when it’s nearby.
The next one is the Q4. We’ll have a new in-game token for the Play2Earn feature. This feature is basically the in-game feature itself in regular gaming that people see in the RPG genre. Let’s say we have a PVP battle here, this one is the one with the ranking. We have the campaign mode for the PVP, we have the daily quest, we have the world bars that the audit will generate the token for the users when they let their pets participate in these features. Along with the in-game feature, we will release the skill system, the social feature where you can add friends into the game and talk to them.
8. Can you explain briefly about the tokenomics distribution of My DeFi Pet and in particular, $DPETs? How many are held and how many are distributed out?
John Huy: We have a total supply of 100 million $DPET token, that’s a fixed cap and we won’t go over that number. We did a private sale for around 20 million tokens and the private sale is investing 10% monthly. The public sale is around two million tokens, 100% unlocked during the IDO. We have a team of 16 million tokens; it is locked for one year and then vests linearly over a year. For the advisors, the same concept. For partners, we have 10 million tokens locked during six months in one year. We have a reserve of 18 million tokens locked in the first two years. And then we have the marketing portion which is one month and then vest 5% monthly. These are the overall metrics.
9. Which area are you guys focusing on right now? What are the goals for this year?
John Huy: The goal for My DeFi Pet is to have more users. Our business goal is basically generating the revenue from the pet sales and also from the collection fee that we have. We will release the marketplace for people to trade their pets on. It will have a smart contract that will be secured so people can be comfortable trading their pets without being scared of getting scammed. So we have a marketplace with just a small amount of fee for each of the transactions. We also have the breeding feature that costs some $DPETs as well. That’s also one source of revenue.
10. How is your community growing right now? How do you plan on nourishing the community globally and improving the users’ experience?
John Huy: Our community is growing rapidly right now. Our telegram channel reaches 50,000 people and we have the Facebook channel as well. We have a Facebook chat from the Philippines official channel that reaches more than a hundred thousand members. That’s a huge community and we also plan to grow the community in different
regions as well.
Part 2: Q&A
11. Relating to the marketing term, are you planning to collaborate with famous streamers since they are very effective in promoting gaming projects?
John Huy: That’s something we have planned in the long run. We are in contact with some of the big game streamers from Vietnam and we hope for collaborations in the future. A lot of people from the Philippines community would like to collaborate with us on the streaming side as well.
12. Does My DeFi Pet have any community-created events for players? If yes, what can users benefit from it?
John Huy: We had one community event a couple of weeks ago. It was a pet design contest. Users from different communities can draw their pets and surprisingly a lot of them have good artistic skills. When we go to the final round, we will pick the best pet and that pet will be introduced to the game.
13. What is the most challenging aspect of developing this game?
John Huy: I don’t know if you’re familiar with game designing but when they design a traditional game and they test the game, it would go through multiple phases. It has to be able to avoid errors or bugs, etc. When we design a blockchain game, it’s like a whole different level. Before we can test the game content, we have to make sure the blockchain part is super secured because it’s related to people’s money, people’s investment. For game design, you can try and tweak things here and there but for blockchain when you deploy a smart contract, it’s stuck in there and you cannot change it so we have to do a lot of testing to make sure that things work the way they should be. So that’s the most challenging aspect of blockchain gaming.
14. How is the security of this project? How do you protect your players from scammers and hackers that can cause loss for players’ assets?
John Huy: For the security of this project, all the smart contracts were audited by the blockchain audit team and it passed 100%. So it’s very secure for people to play games using our system. In the blockchain network, there are multiple ways that hackers or scammers can get to you and we have some articles explaining, teaching people a little bit about blockchain so hopefully, people did a little bit of self-learning to avoid those.
15. How can you make sure that the in-game transactions shall be sufficient for the operation and development of My DeFi Pet?
John Huy: The in-game transactions are growing faster than we anticipate so we have a lot of users, a lot of transactions in the game. That requires a huge amount of scale-up from infrastructure and we are trying our best to scale up the servers, scale up the team to meet the current demand from users. From the beginning of the game, the data released was around 1,000 daily users, now we have more than 50,000 people a day. For the people that continuously online play the game, it’s like 25,000 people so that’s a huge amount for the server to handle. Thus, it requires a lot of upgrades in the server, in infrastructures, we’re hiring more people to the team to handle those.
Kristen: I think all of the viewers’ concerns have been satisfied enough in our AMA session today. Thanks for taking your time to explain My DeFi Pet so detailed, John. I hope to see you again in the future and I wish you all the best.
We’ll be posting the winners of the giveaway on our BSC Army Twitter account and telegram channels so stay tuned for that and don’t forget to claim your rewards.
My DeFi Pet aims to become one of the best blockchain games on the BSC network and create more amusing updates for the game features. With the amazing work from the KardiaChain and Topebox teams, we have seen outstanding achievements from My DeFi Pet so far and now are looking forward to seeing more remarkable performances.
Disclaimers: Writers’ opinions are solely their own and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research and seek professional advice from a financial advisor where appropriate.