What is the utility of FINA token in Defina?

Natsu posted 2m ago
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$FINA is the token of the Defina game on the Binance chain. Not only can the token be used to purchase in-game assets and buying Hero NFTs, it serves as a governance token for holders as well. As an on-chain token, you can seamlessly deposit and withdraw $FINA tokens from your BSC wallet to the in-game wallet at any time, ensuring easy accessibility and utilization within the Defina Metaverse ecosystem.

What is the utility of $FINA? 

There are many use cases for the $FINA token in Defina. For starters, it serves as a game currency where you can buy mystery boxes to mint your Hero NFT, buy and sell Hero NFT on the in-game marketplace. On top of that, you can use $FINA token to buy in-game consumables such as stamina potions to play more PVE battles and rebirth crystals to improve your Hero stats. These consumables will definitely give you an advantage in Defina. For example, Stamina is a resource you need to play PVE matches. 1 stamina is expended for every PVE battle but fret not, your stamina will reset daily. So if you’ve used up all your stamina for the day and wish to continue playing to earn more EXP, you can then use your $FINA token to purchase more stamina.

On top of it being used as a currency in Defina, $FINA serves as a governance token as well. This means that token holders have a say in the roadmap of the Defina project. The team is very community-driven and will constantly review and take into account the feedback given by the community.

If you don’t wish to use your $FINA token throughout the game, another way to make full use of them is through staking. In May 2023, Defina opened up a $FINA liquidity pool on the polygon chain to allow staking of your $FINA and $MATIC tokens on the polygon chain and earn rewards daily!

How to stake your $FINA?

Staking is pretty easy. You just need to follow the steps below. Your staking reward varies depending on the term of deposit. The longer you leave it in, the more you can earn. 

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Staking Reward Breakdown (Source: Defina Whitepaper)

  1. Go to Defina Sushiswap (https://app.sushi.com/trident/add/MATIC/0xc6527b9dB96b4790604a3F8873D23140C8391D07?fee=10&twap=true&chainId=137) 

  2. Connect your wallet and ensure it is on Polygon network

  3. Enter the amount of $FINA and MATIC you wish to stake. Approve BentoBox and $FINA token. Then you can deposit.

  4. After adding liquidity, you will receive Sushi LP tokens.

  5. Go to https://defina.finance/staking/ 

  6. Select the polygon network and click stake

  7. Approve your LP tokens then you can stake

If you wish to withdraw your earnings or LP token, simply click the ‘withdraw’ tab, select the amount you wish to withdraw. Then, click ‘Withdraw All’. 

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LP Token Withdrawal (Source: Defina Whitepaper)

How to get $FINA tokens?

Now that you know how you can use the $FINA token, it’s time for you to get some of them! There are two ways you can go about getting your first $FINA tokens. One way is earning them through playing Defina Adventure mode (PVE), Arena Battle (PVP) and climbing the Arena Leaderboard every season. 

Another way to get $FINA token is by purchasing them on decentralized exchanges (DEX) such as Pancakeswap. Previously, you can exchange for $FINA with BNB or BUSD but ever since the cross chain implementation, you can buy $FINA using MATIC as well. Just make sure you cross $FINA from BSC to Polygon on your Defina game account first.

Can I convert $FINA to other tokens (i.e. fiat currency)?

If you have extra $FINA tokens that you do not wish to spend them in-game or use them for staking, you can definitely swap them for fiat currencies like USDT and USDC on Pancakeswap. I believe this would be a perk for you to try out Defina because there are so many options for you to use their $FINA token and if you have earned quite a bit from playing the game and wish to withdraw it, you can do so anytime. It feels good to be able to receive the rewards you reap from playing a game you like.