The Elfin Kingdom is a decentralized gaming ecosystem on Binance Smart Chain built for gaming and metaverse projects that wish to power their games in Web3. Every project in the Elfin ecosystem makes use of $ELFIN and NFTs in their respective universes to empower users.
$ELFIN, the native token of the Elfin Kingdom metaverse, is the main currency for marketplace transactions and is also considered a main resource for the platform. In this way, $ELFIN acts as the main currency for the total metaverses connected under the Elfin Kingdom allowing interoperability between games.
The Elfin Kingdom's economy is driven by three main aspects:
- $ELFIN: The currency;
- $KING and In-Game: In-game currency and NFTs as resources; and
- Leagues: Users, Players, Developers, and Guilds.
$ELFIN is scarce and is needed to unlock the full Elfin Kingdom metaverse.
The project is being monitored by the ElfinDAO, which is governed by staked $ELFIN holders. The goal is to allow communities, users, and developers to create new, decentralized metaverses through joint creativity and create a fully decentralized gaming platform.
The DAO decides which projects will join the Elfin ecosystem, as well as $ELFIN distribution and revenue-sharing agreements or other incentives in the platform.
The Elfin Kingdom acts as a full product platform to increase user adoption and onboarding of web2 games looking for decentralization in the Web 3.0 ecosystem.
ELFIN is a DAO-governed platform. To ensure a degree of structure, a group of dedicated DAO members forms the "Elfin Assembly," which will help execute and maintain the vision.
Proposals are made by users, players, or developers, then decisions are formed by the DAO and voted by $ELFIN holders through Snapshot Voting. Participating in decisions is one of the ways the Elfin ecosystem rewards its community.
