My DeFi Pet Philippines Guide | What is DPET Token

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2021 has been very mind-blowing especially for traditional gamers and streamers who got used to traditional games as Play-to-earn gaming is increasingly gaining attention even to those who are not really used to playing games.

Blockchain first started revolutionizing the financial sector and now, it is even disrupting the gaming industry, made possible by non-fungible tokens (NFT). Previously, games were just entertainment to some people but today, gamers can really own the assets they get from the game and sell it to other people who can also see the value of the asset in exchange for crypto or in-game tokenized currency of the game. (Read More: What is Play-to-earn?)

Today, the most popular NFT game Axie Infinity allows Filipino players to earn around P20,000 – P50,000 depending on the price of its in-game currency “Smooth Love Potion” (SLP). Because of the results the game has contributed especially in the Philippines, there are so many projects that are emerging to follow the steps of Axie Infinity . One of those projects is My Defi Pet.

My DeFi Pet Philippines Guide

My DeFi Pet is a game developed by TopeBox (formerly known as Pine Entertainment), a Vietnamese game development company founded in 2012 that developed games like King Rivals, Sky Dancer, Thief Rivals and Century City. It is also a virtual-pet collectible game just like Axie Infinity with other features like the fact that players can let their pets evolve when it reaches a certain level.

TopeBox’s vision is for My DeFi Pet to become a mass adopted blockchain-based game. This is the reason why the company based the game’s name to include “My”, for players personalisation; “DeFi”, acronym for Decentralized Finance which is composable finance without any human intermediary; and “Pet”, which denotes for breeding, evolving, feeding and etc.

What is DPET Token

My DeFi Pet’s in-game currency is called “DPET”, a BEP20 token operating in Binance Smart Chain. It is mainly used today for trading, buying and hatching eggs, evolving and breeding of monsters and other game utilities.

DPET’s token economics (tokenomics) is designed to reward players who can contribute a lot to the game to further enhance player interaction. Economics incentives of the game are implemented to encourage players to maintain the ecosystem of My DeFi Pet thereby creating a win-win system. Additional DPET tokens are rewarded to users based on their actual usage, activity and contribution. On the other hand, users who only hold DPET tokens and do not participate in the game will not receive any DPET token incentives.

As part of TopeBox’s vision of promoting a decentralized community, they will allow DPET holders to propose and vote in governance proposals that would determine the future development of the game. DPET tokens will be distributed to compensate them for their time and expertise.

All DPET tokens are currently available and tradeable on Binace Smart Chain and KardiaChain.

How to Play My DeFi Pet?

My DeFi Pet is currently playable with still a few limited features like buying and feeding your pets only to increase your level.

Just go to their website and click the “Play Now” button which you see on the upper-right portion of the screen and it will lead you to a different tab.

My DeFi Pet as of the moment, can only be playable through their main website. You can choose which network would you like to use in buying your first DPET tokens that will be linked to the game.

You can use Metamask or KardiaChain wallets which are browser-integrated wallets that can be downloaded through the extensions webstore, then use the wallets to exchange assets like BNB or KAI on PancakeSwap or KaiDex.

How to Buy DPET Using MetaMask?

1. Create an account on Binance and make sure to follow the verification process until you meet the eligibility criteria for P2P trading.

2. Once you already have a verified Binance account you can choose what mode of payment you want to use to buy USDT on Binance P2P.

Note: You can use GCash, Bank Transfers, Coins.PH and Paymaya and make sure you already added your credentials on Binance Payment tab.

3. Trade your USDT to BNB on Binance Spot market.

4. Once you already have BNB, we can now head over to downloading Metamask wallet through the extension webstore and create your account.

Note: Make sure to keep and remember your private key securely in case you forgot your password as there is no way Metamask team can recover your account if your private key is lost.

5. Since DPET is a BEP20 token, you must connect the Binance Smart Chain network on your Metamask wallet because PancakeSwap is operating on Binance Smart Chain, it is not interoperable as of the moment. Your BNB might be lost if you try to send it using the address based on Ethereum network.

Open your Metamask wallet and as you can see on the picture, it is connected to the Ethereum Network. Just click it and look for “Custom RPC”, which is located underneath and input the details below:

Network Name: Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com

6. After integrating Binance Smart Chain network on your Metamask wallet, you can now send your BNB from Binance to your Metamask wallet.

Note: Your wallet must show Smart Chain on the upper-right portion and BNB as your main asset.

7. Go to PancakeSwap and look for the exchange. Set your “From” to BNB and “To” into DPET token and select “Import” and swap. Just wait for a few minutes and you can see your DPET tokens on your Metamask wallet.

8. Go to My DeFi Pet website and select “Play Now” and select “On BSC Chain” and you can now buy eggs from My DeFi Pet using your DPET tokens.

Note: 1 Egg = 3 DPET Tokens

How to Buy DPET Using Kardiachain Wallet

Swapping DPET using KAI token is more complicated but some players say that using KAI/DPET pairing is much cheaper than going through Metamask wallet.

1. Create a Binance and KuCoin account.

2. Use Binance P2P trading to buy USDT which will be transferred to your KuCoin account.

3. Transfer your USDT on KuCoin to your KuCoin trading wallet and look for KAI/USDT pairing and convert your USDT to KAI and transfer your KAI again to your Main wallet which is mainly used for withdrawals.

4. Download the KardiaChain wallet on your browser extension webstore and create an account.

Note: Make sure to keep and remember your private key securely in case you forgot your password. There is no way the KardiaChain team can recover your account if your private key is lost.

5. Transfer your KAI from KuCoin to your KardiaChain wallet.

6. Go to KaiDex, and look for the DPET/KAI trading pair and convert your KAI to DPET.

7. You can now go to My DeFi Pet website, click “Play Now” and select “On Kardia Chain”, and you can now buy eggs from My DeFi Pet using your DPET tokens.

Note: 1 Egg = 3 DPET Tokens

My DeFi Pet Play-to-earn Mechanics

My DeFi Pet is still in its beta stage and as of the moment the game doesn’t have any ways to actively earn while playing. The game right now looks like Farmville, a popular classic Facebook game which players plant crops which can be harvested in a certain time and the only difference is you are using the crops harvested to feed your pets which improve their stats as they gain experience and level up.

However, according to the recent roadmap update, marketplace and staking is set to be released by 3rd Quarter of 2021. 

This will let players earn by selling their pets on the marketplace and by holding DPET tokens. Before the year ends, theMy DeFi Pet development team will introduce a new token which will be used for the game Play-To-Earn features which we can compare to Axie Infinity’s “Smooth Love Potion” (SLP).

The Play-To-Earn features which will be released on 4th Quarter of 2021 based on the roadmap includes:

– PvP Battle (reports say you need 5 pets)

– Campaign Mode (PvE)

– Daily Quest

– World Boss

In just 2 months, My DeFi Pet already has more than 100,000 holders and more than 1 million eggs have been bought. The game also won at the Binance Vietnam Super Blockathon which allowed them to participate in international events like DoraHacks, a global leading hacker organization and Binance Smart Chain SEA Hackathon. Here’s the future plans of My DeFi Pet according to the game’s roadmap.

My DeFi Pet Roadmap

Q3 2021

  • Blockchain Feature: Breed (Released)
  • Marketplace
  • Staking
  • In-game feature:
    • PvP teaser
    • New UI & UX
    • Sell cage feature
    • Bank – increase silver storage
  • Season 1: Boss Fight Event

Q4 2021

  • Introduce new in-game token for Play-to-earn features
  • Play-to-earn features:
    • PVP Battle
    • Campaign Mode (PVE)
    • Daily Quest
    • World Boss
  • In-game Features:
    • Skill System
    • Social Features

Q1 2022

  • Play-to-earn features (continued)
    • Campaign mode (unlock more maps)
    • Endless Tower
    • Pet Expedition (in-game staking)

Q2 2022

  • Mobile App Release
  • Limited NextGen Pet Sale
  • Season 2: Super Hunger Games
  • Play-to-earn -> In-game lending pet

Q3 2022

  • Limited Land Sale

As NFT game projects continue to evolve, My DeFi Pet is setting itself in leading the next wave of NFT games in Southeast Asia.

This article is published on BitPinas: My DeFi Pet Philippines Guide | What is DPET Token

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Sean Millare

Sean is a full-time trader who started exploring & investing in cryptocurrency in 2015 when he was still a college student.