Sirwin
Sirwin

CORRECTION: Devikins KLV Burning/Mining Event ACTUALLY ended within the FIRST MINUTE, not hour

By TokEnthusiast | TokEnthusiast | 23 Jul 2021


I expected things to be fast, but not THAT fast!

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If you were not able to read the article I wrote yesterday, I'm informing you that the Devikins' Mining Event just started and well, it's also already over. The teams at both Klever and Moonlabs Studios expected that their mining event would use up the allotted 24 hours timeframe, but they may have underestimated the bullishness of the anticipating early adopters as it reached the 20,000,000 KLV Burn Goal within an hour from opening. The countdown might be a bit hard to read but for those who haven't noticed in the image above, there's supposed to be 23 Hours, 1 Minute, and 4 Seconds left for the event. Supposed to be, anyway.

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CORRECTION!!!

From a recent tweet by Dio Ianakiara (@dio_ianakiara at Twitter), the Co-Founder of Klever that facilitated the mining event through Klever Labs, it was revealed that the Mining Event actually ended with the first few minutes of its start. Technical issues in their TRON Nodes apparently led to the API having difficulty processing and computing that many blocks in the transaction which cause the extension of 56 minutes of the event. This means that if the API had processed and computed all transaction at real time, the mining event would have ended within the first few minutes and I wouldn't have had the opportunity to burn my KLV (Thank the Devigods for this). Due to this, the event didn't actually only burn 20,000,000 KLV but in fact, it actually burned 51,000,000 KLV! Thankfully with the understanding and consideration of Klever and Moonlabs Studios, they decided to honor all burns done in excess of the goal. This means that more than 1 Billion Devicoins will be minted and divided proportionately to all miners while still following 1:20 ratio. This goes to show that the people wanting to join this project are just not bullish, they are EXTREMELY BULLISH for Devikins!

CONGRATULATIONS to everyone who participated in the event!

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I was able to burn my KLV for the Mining Event and now I wait for distribution next week. The feeling of being an early adopter is rather thrilling and worrying at the same time. I pride myself for not having been rugged by whatever Token or Coin I decided to dabble into and I'm fairly sure that DVK won't be the one that will be breaking my rugless streak anytime soon.

With the Burning of 20,000,000 KLV results to the minting of 400,000,000 DVK. It should be noted that addresses are only allowed to burn 200,000 KLV each. Sure, the possibility of whales getting into this event is very likely, but considering the prospects of this project, I'd consider any whale who would be selling their DVK immediately to be rather lacking in foresight, and having the greatest adverse relation between their wallet size and intelligence.

Realistically speaking, as the price of KLV during this event was around $0.045 per KLV, and with 20:1 Ratio for DVK per KLV, we can assume through basic mathematics that the initial price of DVK would be around $0.00225 per DVK. That's my assumption anyway with how the price may be calculated. But the high demand for DVK has been proven by the swift end of the mining event. So once DVK gets released in the Klever Exchange next week, I would be expecting a rather bullish first couple hours or so.

Now considering what's to come in the future, I expect the Devs at Moonlabs Studios to be releasing more concept art soon or even just a bit more detail on how gameplay and other matters involving the game would proceed. May they satisfy the hunger and quench the thirst of the early adopters anticipating the release of their game.

If you want to check on the latest updates about Devikins, here's their Twitter account: https://twitter.com/devikins_game?lang=en

If you burned some KLV like I did, congratulations to you, fellow early DVK adopter and DVK miner! We'll be expecting the first phase of the game to be released sometime in Q4 this year! For those unable to participate, go transfer at least 1000 KLV or 1 KFI to your Klever Mobile Wallet and stake them for the DVK Airdrop in August! Or you can get it earlier and buy DVK at the Klever Exchange once its released on July 28/29!

Anyhow, I'll be keeping my eyes wide for whatever new and exciting thing that would be happening in the cryptoverse that I consider to be worthy of writing about! If you got something to share yourself that you think I may like to look into, feel free to leave it in the comments!

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TokEnthusiast
TokEnthusiast

A collector of tokens. Be it shitcoins, rugs, gems, or memes, I would want to have as much variety of tokens in my wallets as possible.


TokEnthusiast
TokEnthusiast

A collector and researcher of various tokens. Collected gems, rugs, shits, and memes; tokens of whatever variety. Just don't expect me to participate in actual "sales" as at least I'm proud of the fact that I've never been rugged before due to my extreme caution. Follow me as I look into potential gems and probable rugs tokens in the ever increasing and changing ecosystem of cryptocurrency.

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