Welcome to the second edition of the Tiny spotlight series, where we take a closer look at Tiny World’s unique features.
In this week’s spotlight we will be taking a step into Tiny Farm, where NFTs, DeFi and gaming combine to bring users an enjoyable GameFi experience, allowing users to play and earn using blockchain technology.
Before reading on, I suggest you read the first edition of Tiny Spotlight where you can learn how to obtain Tiny Hero NFTs, as they are a core component of the Tiny World ecosystem!
First, let’s get an understanding of some terms you may not be familiar with.
🔗What is blockchain?🔗
A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network, hence the name block-chain.
In simple terms, a blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
💲What is DeFi?💲
DeFi, or Decentralized finance, is a financial system that reimagines financial transactions by removing intermediaries and is based on blockchain technology. Various financial transactions are possible with DeFi’s ‘smart contracts’ that execute financial transactions under certain conditions.
🎮What is GameFi?🎮
GameFi is a combination of decentralized gaming and DeFi, and GameFi platforms represent a confluence of cryptocurrencies, non-fungible tokens (NFTs) and the play-to-earn (P2E) gaming model.
🤔Why does a gaming platform like Tiny World need blockchain technology?🤔
Blockchain technology can offer the player many advantages. One of the main draws is the fact you can earn from playing games, but other reasons exist. Users can safely store their assets avoiding hacks, real ownership of assets, community governance allows players greater control of their favourite games and much more!
Now let’s take a look at Tiny Farm, which is another core part of the Tiny World platform. There are various different features in Tiny Farm, and each one works together to create value in the ecosystem, offering players different ways to have fun and earn simultaneously.
🏦 Tiny Vault 🏦
When you reach the Tiny World platform, one of the first things you will come across is Tiny Vault. There are various different features in Tiny Vault that can enable you to generate an income, let’s take a look at them!
📈 Boost Pool 📈
The Boost Pool is a liquidity pool with a difference. In liquidity pools, you stake 2 tokens in return for LP tokens. These LP tokens are staked to the smart contract and you can yield token rewards to generate profits.
The difference with the Boost pool compared with traditional liquidity pools is that you can boost the returns by over 100% by staking a Tiny Hero NFT along with your LP tokens.
There is a certain amount of TINC released each day, and depending on your weight of the pool held, you will receive TINC tokens in real time which can be claimed whenever you like.
⚠️ Impermanent loss ⚠️
When staking to liquidity pools, it is important to factor in impermanent loss. Impermanent loss occurs when you deposit assets into a pool and suffer a loss when you withdraw them at a later date compared to just holding these assets throughout this period. As such, you don’t actually have to lose money for impermanent loss to occur.
This is because token prices fluctuate. LP tokens are locked into the dollar (or other fiat currency) value. If the token prices rise by 50% and you exchange your LP tokens back to the original pair, you will end up with less tokens than if you did not stake into the liquidity pool.
Always measure your risk when providing liquidity to an LP
🚜 NFT Farming 🚜
In the farm, Tiny Heroes farm crops and make produce to sustain the war effort. It is an important role in Tiny World and the farmers are rewarded for their hard work with TINC income.
To participate in NFT farming, you can stake your Tiny Hero NFTs into the NFT pool to generate TINC rewards.
By staking as many NFTs as possible, you can increase your daily returns. The amount of TINC generated each day depends on the total power added for all of your Tiny Hero NFTs that are staked in the NFT pool.
You can also increase the amount of total power staked by your heroes by completing the bonus rule objectives.
By adding different characters within each class of Tiny Hero, you can get an additional fixed power bonus added to your total, which will yield even more TINC each day for you. Higher class Tiny Heroes give a greater boost, so collect as many as you can for the best rewards!
There is an additional percentage bonus you can obtain by staking multiple high class heroes as shown by the table below. This percentage bonus will be added to your total bonus power to further improve returns from NFT farming.
👑 Tiny Lord 👑
The Dark legion have taken many territories around the Tiny Farms and are using them to store their loot. It is time for farmers to exchange their tools for weapons to take back the various strongholds, castles and outposts from the dark legion. Farmers that are successful in battle will become the Lord of the territory and can enjoy real time TINC rewards for the duration they hold the territory. Lords will try to defend the territory from other farmers that want to take the Lord title for themselves to gain rich returns!
Tiny Lord is essentially a game that is built on top of NFT farming that increases the competition and enjoyment from passive staking rewards.
To participate in Tiny Lord, your team of heroes must be staked to Tiny Farm NFT pool. You can select a team of 3 Tiny Heroes to battle the current lord for a particular territory. Your team will battle against the current lords in a 3 vs 3 battle and the winner will remain the Lord of the territory and will generate tokens in real time.
First, select an unprotected territory that you want to battle for. You can select a team to battle the territory and start the fight. The higher the power of your team, the better the chances of winning you have.
Each player will do between 1–100% of their power in damage to the other team, with the winner being the player that does the most damage in the battle. The winner will become the lord for the territory and can enjoy the token rewards until they taste defeat.
There are many different rules for Tiny Lord that you must consider when playing.
There are 3 different types of territories; strongholds, castles and outposts. There are 60 strongholds, 120 castles and 300 outposts that can be occupied. Strongholds generate the most TINC rewards and outposts generate the least. Choose the territories you want to be lord of carefully, as you can only hold up to 15 territories at any given time.
Protection time gives you a window where you cannot suffer a challenge to your Lord position in Tiny Farm. Every player will have a protection time when first becoming Lord. The more veTINC you hold, the longer the protection time for your team.
You can challenge territories for free each day. For UR + SSSR heroes, you get 2 free challenges per day. For all other heroes, you get 3 free per day. Each subsequent challenge will attract a TINC fee to battle. There is also a fatigue system, which means Lords lose 15% power every 30 minutes. This means that as time goes on, Lords get weaker and an inevitable new Lord will rise to the precipice.
For any Lord that is withdrawn from the NFT farming pool or runs out of energy, the whole Lord team will be removed from the territory and the dark legion will once again claim the territory for themselves, until another brave player comes to claim it.
🫂 Referral system 🫂
Tiny World has an extensive referral system that can enhance your profits even further from inviting friends to play. You can get 0.5% BUSD expenditure rewards and up to 5% TINC returns from your friends spending.
All you have to do is go to the referral tab and copy your unique link. Share with your friends and start earning more rewards, what are you waiting for!?
🪙 TinyDAO 🪙
The TinyDAO is a treasury that collects the majority of platform profits. It belongs to the community and users will eventually be able to vote on how these funds can be used in the Tiny World ecosystem.
You can stake your TINC tokens into the TinyDAO to obtain a governance token — veTINC. veTINC has multiple different uses on the platform and is a core feature of the play and earn ecosystem. You can get a ratio of 1:1 TINC:veTINC if you stake for 1 year. If you stake for 6 months, you will receive 50% of the veTINC.
Advantages of holding veTINC include;
- Passive TINC rewards which increase as more TINC is burned
- Extra protection time for Tiny Lord
- Increase Hero Title in Tiny Kingdom
- Use to vote in gamer governance
- More to come
We will look at TinyDAO in more detail in a future edition.
Where can I find out more information about Tiny World?
If you want to know more about Tiny World then you should check out our social links below to stay up to date;
NFT mystery rune giveaway
To celebrate the Tiny spotlight series, we will be giving away 3 mystery runes to our readers each week 🥳 All you have to do to take part is to ask a question in the comments section on the tweet promoting this article on our official Twitter page
We will pick the 3 most interesting questions which will be answered in our community AMA in Discord on Thursday. Make sure you don’t miss out on this great opportunity to get a free Tiny Hero NFT! 👏
That’s all for this week’s edition, tune in next Tuesday where we take a deeper look at Tiny Kingdom, an idle-style RPG trading game where you can play, earn and have fun in your spare time!
See you next week!👋
