Cockfight

Demo

About

The problem it solves Cockfight introduces a novel approach to DeFi services, aiming to resolve two primary challenges: complexity and user engagement. Traditional DeFi platforms, known for their intricate logic and specialized terminology, can be daunting for users. Advanced services, such as Pendle and Eigenlayer, often exacerbate this issue, deterring user participation due to their complexity. Cockfight simplifies these concepts with an easy-to-understand "Chicken & Egg" model, making DeFi accessible and enjoyable even for novices. A common critique of existing DeFi services is the monotony of staking and waiting, which lacks engagement and excitement. Cockfight addresses this by infusing gaming elements into the yield farming process, allowing users to wager yields rather than principal. This innovative approach ensures that users can participate in games without exposing themselves to significant risks, making the DeFi experience more dynamic and enjoyable. To support this ecosystem, Cockfight introduces two pivotal features: Instant Yield and the Egg Market. Instant Yield accelerates the yield accumulation process, providing users with immediate access to their staking interests. This facilitates instant game participation, enhancing user experience by eliminating the traditional waiting period associated with yield farming. The Egg Market, on the other hand, opens the door for users seeking to play without principal investment, catering to both risk-averse and risk-seeking players. This market not only enhances accessibility but also enriches the ecosystem with diverse tokenomics. The anticipation is that user engagement in the Egg Market, in pursuit of additional alpha, will organically contribute to ecosystem growth. In essence, Cockfight's model seeks to resolve the challenges of complexity and user disengagement in DeFi. By marrying low-risk yield farming with high-engagement gaming elements, it proposes an attractive entry point into DeFi.

How it's made

Challenges we ran into 1. Instant Yield One of the key features of Cockfight is the utilization of staking yield as a ticket to participate in the game. However, a significant issue with staking yield is that it often doesn't allow for meaningful activity until a certain level of yield has been achieved. This staking period can be a major factor in user attrition. Therefore, Cockfight introduces a new concept, we call 'Instant Yield'. 'Instant Yield' involves obtaining interest in advance, enabling participants to engage in the game or various DeFi activities within Cockfight through prepaid interest. The rate at which interest can be acquired in advance is determined by the protocol and is designed to be adjustable through governance. 2. Market-based DeFi Protocol Cockfight actively supports a Second Market among users. The protocol basically offers three things: - Determining the rate of instant yield when purchasing Cockie - Guaranteeing the exchange of Cockie at a set price - Exchanging eggs for a chicken when a certain number is collected Additionally, the protocol facilitates the use of assets gained in Cockfight according to market logic. One example is the 'Lock Staking' market. Users could obtain yield in advance allowed by the protocol when they buy Cockie. Choosing to obtain more yield in advance extends the period during which withdrawing Cockie becomes harder. Cockfight effectively locks Cockie until the obtained yield matches the staking rewards. However, there exists a demand among users to liquidate assets that are locked. Therefore, the value is expected to fluctuate based on the period until lock expiration, with prices formed by the market. Moreover, point tokens for reward boosting and the protocol's governance tokens are also expected to be actively traded in the second market.