{"id":398754,"date":"2020-12-14T07:03:22","date_gmt":"2020-12-14T12:03:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398754"},"modified":"2020-12-14T07:03:22","modified_gmt":"2020-12-14T12:03:22","slug":"kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/","title":{"rendered":"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games"},"content":{"rendered":"<h2>\nUsers can Stake KingSwap NFTs to earn higher yields and limited-edition digital collectibles, tradable on OpenSea and Rarible<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>Singapore, Dec.  14, 2020  (GLOBE NEWSWIRE) &#8212; (via<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=vYPNmkS6jsRtDQa7PczzoLTK5dTk60VslB-7nmpP46XS6t1yC9cYSaRkMb1-Oc_VrKsiQrYljVIgvA6lfIcktsxZXinSfgPklQsCpMxlRpc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"> Blockchain Wire<\/a>)\u00a0DeFi project <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UzhDuFzoQfze9AfyJFxt69vKsBOTVgbAMUBKx4__D288YVE2a0Pe4VEFWRXoFF0iI3h1LeNMJHs_v7Qv0UwuCQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">KingSwap<\/a> (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BJ-3XqHZJgob7xThmhcfFcLoRlH1GdArY5WMGU8BigK5fXYAowwVNgWZeZMLCZqvOT-rkoDmmGJADHc5twLe2Jdd2t44hAWntWDhQoATm8E=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.kingswap.io\/<\/a>) today announced the launch of its NFT staking program and raffle games. On a mission to drive mainstream DeFi adoption through gamification, KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions.\u00a0<\/p>\n<p>KingSwap\u2019s new NFT staking program allows users to stake their King, Queen, or Knight NFTs for a set period of 3, 6, 12, 24, or 48 months, similar to a bank\u2019s Certificate of Deposit. For a 12 month commitment, investors earn 60% APY for staking a Knight NFT (worth 10,000 $KING tokens), 80% APY for staking a Queen NFT (worth 100,000 $KING tokens), and 100% APY for staking a King NFT (worth 1 million $KING tokens).\u00a0<\/p>\n<p>Holders can also stake their NFTs in a variety of unique games built on the KingSwap platform, including raffle drawings. To join a KingSwap raffle, players pay an entry fee of 20 $KING tokens. Once 100 players have entered, one player is randomly selected to receive a limited-edition NFT. For every friend a player refers to the raffle game, they\u2019ll earn one $KING token for each entry they buy.\u00a0<\/p>\n<p>\u201cWe created this raffle game to provide better rewards to participants, while at the same time earning the loyalty of $KING token holders,\u201d said Malcolm Tan, KingSwap senior advisor. \u201cWe\u2019ve already seen many enthusiastic users join our first few raffle drawings, and look forward to continuing to reward our community with limited-edition NFTs.\u201d\u00a0<\/p>\n<p>KingSwap has also rolled out NFT games inspired by poker and slot machines, giving players more opportunities to stake their NFTs for a chance to earn greater rewards. All of KingSwap\u2019s NFTs can be kept to use in various games in the ecosystem, or sold and traded as digital collectibles on platforms like OpenSea and Rarible. With its Sit and Go Poker concept, players convert 20 $KING tokens to Knight Lancelot NFTs for a chance to win. Winners can choose if they\u2019d like to take their Queen NFTs to OpenSea or exchange them for ETH on KingSwap. \u00a0<\/p>\n<p>The launch date originally set for NFT staking was December 3. During the KingSwap development team\u2019s testing phase, they found there was extra work needed to improve NFT staking by reducing gas fees and security risk. The development team added these functions to account for airdrops for users while they stake their NFTs, and added an emergency withdrawal system in case of contract malfunctions to refund a user\u2019s tokens. KingSwap\u2019s development team added more information on the UI to make it more user-friendly. All these improvements were detected during UAT testing. In order to roll out features to benefit KingSwap\u2019s supporters and minimize risk, they postponed the launch until December 4.<\/p>\n<p>KingSwap was founded by a team of experienced leaders in banking, finance, and crypto, including <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JR2-zwfTsQ6t0NJzFtjz9ryccgeKBwfgnXhuHK5o4iZ2uTdvOh7YAoogToTM3bTqz2ZuoV_LiX7iYVLUXkXjO4STl0kjhjqTyoQ1wHV5rbI=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Dr. Anish Mohammed<\/a>, who has advised and worked for companies including HSBC, Lloyds, and Zurich, and was an early advisor to Ripple and Ocean Protocol; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DsYdULxfXxgqWKplUxFon0Jtnokf9HEAXSA60XoY1NKVMXoUB8tqfP_rIo37hk57YVR_Y5jzC3tUbBPEldhkSdN8bBDps1pMF5HieBlx1rcSLps11HFqDvjrAW4Y8P2b\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Dunstan Teo<\/a>, Chief Architect of the Fido Protocol and President of Sanctum Pte Ltd.; and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ficwlpArIFNsZ2XnJJCRpc7iV1Uz6oKFrPQH9YMBitZVjeYMlzQzKkWh2F-c0haIhhK1fg2m_JuwyuUMYtKjrqvEm74WShA8Afoyo0xjUx0f56UOhl0h2cIQO3okF4msax8zhgEJoBKVq1xruahUqQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Ho Chin Shin<\/a>, who previously worked as a director at Standard Chartered Bank; Nomura, Japan\u2019s largest investment bank; and the Bank of Singapore.\u00a0<\/p>\n<p>KingSwap\u2019s advisors include Venture Capitalist Dr. Giampaolo Parigi; Professor Alex Nascimento, Faculty and Co-Founder, Blockchain at UCLA; Michael Terpin, Founder and CEO of Transform Group and Co-Founder of BitAngels; Lionel Iruk, Esq.,\u00a0 and Dr. Robert Choi.\u00a0<\/p>\n<p>Prior to KingSwap\u2019s public launch in October 2020, venture capital firms and cryptocurrency investors participated in a private fundraising round, raising more than $20 million USD in funding and liquidity support. KingSwap\u2019s backers include Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital and 7CC.\u00a0<\/p>\n<p>To learn more about KingSwap, join the KingSwap <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JdKS_coafRXv_Lzyf3W8_bdCvKJSRHgd64pWnnPftHPS8STwTWDYdZMgqWEuFo626tEH2Uk0W_GOThKHTlVFJA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Telegram<\/a> group or follow the project on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DGOrtHGPYBg3HT6p6wa3z5Q80pV2MrlxvhJHh8LQlGzLYebck69nxM16bXz13wIO2fzXkHWaoe4If6nuSsF5Pw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>.\u00a0<\/p>\n<\/p>\n<p>\n        <b>ABOUT KINGSWAP<\/b><br \/>\n        <br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UzhDuFzoQfze9AfyJFxt61gcvLm3qx_ozXVZTRbljEfIhW7I2jb4PlpUUQ4EKqd29QRoEv8B0964MlSg2OX_Mg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">KingSwap<\/a> (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BJ-3XqHZJgob7xThmhcfFcLoRlH1GdArY5WMGU8BigLiyg9iUnRAFKFxt9J2f-fVorvVMaltpq9BcsaAz87R_JKMPXF9r7qjd9jI5fjQtis=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.kingswap.io\/<\/a>) is a DeFi project based out of Singapore with a fully regulated* token that introduces a liquidity pool platform with possible fiat conversions. KingSwap\u2019s high-yield liquidity platform offers extensive staking rewards and digital collectibles.\u00a0<\/p>\n<p>\n        \n      <\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5HXli91azvfZ3xtG_t4F-HgUSZnHaCFRhotc_6Gp7WrEgDc9G2BPLU-a5rn-0yVRR7_po6x7zIUl1DNn-USLlQqyMB-_Ab6lZu7X96Jc3KCR7Ld1UIZnnK36YhDhDorJUG_35Is82tYNIwPyE3CTLFQIkSd8JJQkdaap-2cpsfk4K_Qr0YhFyEdq56cAbMwpWNp24VHInd5VRlicJsr4IH-ef1ak2RjurJjj7cKZbLqT2yAK-sc1RyMgqxUqVpd0PKW-WUOweuuatUTIBr_jHdHHYnEQcR0CucVh1GbYtji9MA_mvqhCWkgiid8QCjBW_sfdUHNItIhnvJNam1tEQwxQw9m-O6hK3Ts_vjcpwOZAk4IeIFpX6rSC0mxufw0l202Dq43vrnDAiZkFnV-3m_Fg5k6C7DONMEnCvGMwQfht5XMkUhKQf3q5hRtwHqQOzGzdnsO81m348k6OoHeixrk-RMyALk8JB_XwqqK64qYI7sjopScigNO9H0QmROzYOqednWsC86NT1JQySAnK5Jey0AuaQ36HFKW_sXxZHMG3Z0OC-x43CFx94Tz6XYDSMOr-0QTbCPtHge1iOt5HDIF4Q65Tnbw-CR65vZvH8OQFan63J-zPTPuzMeylzH9MxLyOvqiB5WEOFtqP_8k3Vb0cFQyW9uVYHEI7FVSlHukaySr7jTPdOfU_Ty7_AF7ybZRGxinBWMigSSRi3u6fS64W63K_m5u83DVgnqA5VV_rgOGTC_lsRnofbr5nIAQjhAfVAFMNOAncMxUSOkdiqnPGzI1TJ5xWjUkgcaNKCtBxYO4sr1gK1LJrH9-jmD6SY6WwNlE0hlifH_u3ESyZ8n2x4omcBN9gJOl0KBi_e51Lfn7tUa0tSxrXmC93gGh6HnqK0Z77GV1qb4JSrJprqihh3mvKoNt8Rwb43uBVLoKbmy1PY1qDsVF1Twd3q9_zKwiXF6sSf1QlZ-MHiENvUw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">*&#8221;Regulated&#8221; &#8211;\u00a0 KingSwap commissioned Gravitas International Associates Pte Ltd, a Singapore Payment Services Act (&#8220;PSA&#8221;) exempt company, to issue the $KING tokens. A legal opinion regarding the token issuance has been submitted to the MAS in accordance with the PSA requirements. Gravitas has already submitted an application to the MAS for full licensing under the PSA, and the said application is pending review. KingSwap itself has no licensing specific to DeFi projects, as there is no such specific legislation anywhere in the world at this point in time, and is following the regulatory framework of the PSA in Singapore at the time of writing.\u201d<\/a>\n      <\/p>\n<p>\n        \n      <\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMTE3MiMzODY4NTIzIzUwMDA3NDc2OA==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/f640dd82-0b05-4c2f-a883-ea098d7dcfc9\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>alfonso@transformgroup.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Users can Stake KingSwap NFTs to earn higher yields and limited-edition digital collectibles, tradable on OpenSea and Rarible Singapore, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; (via Blockchain Wire)\u00a0DeFi project KingSwap (https:\/\/www.kingswap.io\/) today announced the launch of its NFT staking program and raffle games. On a mission to drive mainstream DeFi adoption through gamification, KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions.\u00a0 KingSwap\u2019s new NFT staking program allows users to stake their King, Queen, or Knight NFTs for a set period of 3, 6, 12, 24, or 48 months, similar to a bank\u2019s Certificate of Deposit. For a 12 month commitment, investors earn 60% APY for staking a Knight NFT (worth 10,000 $KING &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-398754","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Users can Stake KingSwap NFTs to earn higher yields and limited-edition digital collectibles, tradable on OpenSea and Rarible Singapore, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; (via Blockchain Wire)\u00a0DeFi project KingSwap (https:\/\/www.kingswap.io\/) today announced the launch of its NFT staking program and raffle games. On a mission to drive mainstream DeFi adoption through gamification, KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions.\u00a0 KingSwap\u2019s new NFT staking program allows users to stake their King, Queen, or Knight NFTs for a set period of 3, 6, 12, 24, or 48 months, similar to a bank\u2019s Certificate of Deposit. For a 12 month commitment, investors earn 60% APY for staking a Knight NFT (worth 10,000 $KING &hellip; Continue reading &quot;KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-14T12:03:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMTE3MiMzODY4NTIzIzUwMDA3NDc2OA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games\",\"datePublished\":\"2020-12-14T12:03:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\\\/\"},\"wordCount\":804,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODEwMTE3MiMzODY4NTIzIzUwMDA3NDc2OA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\\\/\",\"name\":\"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/","og_locale":"en_US","og_type":"article","og_title":"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games - Market Newsdesk","og_description":"Users can Stake KingSwap NFTs to earn higher yields and limited-edition digital collectibles, tradable on OpenSea and Rarible Singapore, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; (via Blockchain Wire)\u00a0DeFi project KingSwap (https:\/\/www.kingswap.io\/) today announced the launch of its NFT staking program and raffle games. On a mission to drive mainstream DeFi adoption through gamification, KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions.\u00a0 KingSwap\u2019s new NFT staking program allows users to stake their King, Queen, or Knight NFTs for a set period of 3, 6, 12, 24, or 48 months, similar to a bank\u2019s Certificate of Deposit. For a 12 month commitment, investors earn 60% APY for staking a Knight NFT (worth 10,000 $KING &hellip; Continue reading \"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-14T12:03:22+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMTE3MiMzODY4NTIzIzUwMDA3NDc2OA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games","datePublished":"2020-12-14T12:03:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/"},"wordCount":804,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMTE3MiMzODY4NTIzIzUwMDA3NDc2OA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/kingswap-brings-gamification-to-defi-with-nft-staking-and-raffle-games\/","name":"KingSwap Brings Gamification to DeFi with NFT Staking and Raffle Games - 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