WJEWEL

WJEWEL Price

About WJEWEL (wjewel)

WJEWEL is the ERC-20 wrapped version of JEWEL, the primary ecosystem and gas token of the DeFi Kingdoms gaming platform.

• Facilitates smart contract interactions and trading on the Crystalvale decentralized exchange.
• Enables liquidity provision and yield farming in the Ice Gardens of the DFK Chain.
• Maintains a 1:1 value ratio with the native JEWEL token through a wrapping and unwrapping mechanism.

What Is WJEWEL

WJEWEL serves as the standard tokenized representation of JEWEL within the DeFi Kingdoms ecosystem, specifically on the DFK Chain. While the native JEWEL token is used to pay for transaction fees on the network, WJEWEL is required for more complex decentralized finance (DeFi) operations that necessitate the ERC-20 token standard.

The token's primary role is to bridge the gap between the native gas asset and the application layer. By wrapping JEWEL into WJEWEL, users can participate in the game's internal economy, which includes trading in the Marketplace and staking in the Jeweler. As the DeFi Kingdoms ecosystem expands across different blockchains, WJEWEL acts as a consistent unit of value for cross-chain interactions and in-game utility. This utility scales as more features, such as Hero NFTs and specialized questing, are integrated into the Crystalvale realm.

What Makes WJEWEL Unique

• Dual-Purpose Utility: It acts as both a wrapped token version of a Layer 1 gas token and a primary currency for a high-traffic GameFi ecosystem.
• Native Subnet Integration: WJEWEL is deeply integrated into the DFK Chain, an Avalanche Layer 1 (formerly known as a subnet) specifically optimized for gaming performance.
• Ecosystem Symmetry: It allows users to maintain exposure to the core JEWEL asset while utilizing its value in automated market maker (AMM) protocols and liquidity pools.

What Can You Use WJEWEL for?

• Liquidity Provision: Users can pair WJEWEL with other assets in the Ice Gardens to earn rewards in the form of CRYSTAL, the power token of the Crystalvale realm.
• Trading and Swaps: It serves as a primary trading pair on the DeFi Kingdoms Marketplace, allowing for the acquisition of other in-game assets and resources.
• Smart Contract Compatibility: WJEWEL is used in various in-game contracts that require an ERC-20 interface, such as those governing the Jeweler and Hero summoning.
• Governance Participation: By unwrapping WJEWEL back to JEWEL and locking it in the Jeweler, users can obtain governance tokens like cJEWEL to vote on protocol changes.

How Does WJEWEL Work?

WJEWEL operates through a smart contract that locks native JEWEL tokens and issues an equivalent amount of WJEWEL in return. This process, known as wrapping, ensures that every WJEWEL in circulation is backed 1:1 by JEWEL held in the contract. This mechanism is similar to how Wrapped Ether functions on other networks.

The DFK Chain, where WJEWEL primarily resides, is an Ethereum Virtual Machine compatible blockchain. This compatibility allows DeFi Kingdoms to leverage familiar smart contract architectures while benefiting from the high throughput and low finality of its underlying infrastructure. As WJEWEL is an application utility token, it is not used to pay for network gas directly. Instead, transaction fees on the DFK Chain are paid using the native JEWEL token, while WJEWEL is used for protocol service fees and liquidity within the decentralized application.

Team Info and Investors

WJEWEL is part of the DeFi Kingdoms project, which is developed by Kingdom Studios. The team consists of a diverse group of developers, artists, and community managers who operate under pseudonyms such as Dreamer and Frisky Fox.

The project gained significant early traction through its launch on the Harmony blockchain before migrating its primary operations to the DFK Chain. This migration was supported by a partnership with Ava Labs, the team behind the Avalanche network, as part of an initial subnet offering. Governance of the ecosystem is transitionary, moving toward a decentralized autonomous organization (DAO) model where JEWEL and WJEWEL holders can influence the project's direction through the Jeweler staking system.

Where can you buy WJEWEL?

WJEWEL tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade WJEWEL is Defi Kingdoms (Crystalvale), where the most active trading pair WJEWEL/USDC has a trading volume of $140.65 in the last 24 hours.

What is the daily trading volume of WJEWEL (WJEWEL)?

The trading volume of WJEWEL (WJEWEL) is $8.20 in the last 24 hours, representing a -76.90% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for WJEWEL (WJEWEL)?

WJEWEL (WJEWEL) reached an all-time high of $10.39 and an all-time low of $0.005319. It’s now trading -99.90% below that peak and 13.60% above its lowest price.

How does the price performance of WJEWEL compare against its peers?

With a price increase of 1.50% in the last 7 days, WJEWEL (WJEWEL) is outperforming the global cryptocurrency market which is down -2.10%, while outperforming when compared to similar Kaia Ecosystem cryptocurrencies which are up 0.00%.