Dwayne Ong is a great example of a strong DeFi project leader. Himself a crypto enthusiast and entrepreneur, he has extensive previous experience in multiple startups in many industries including oil and gas, proptech, and crypto projects.
Dwayne also has an extensive background in finance. As a professional with a Bachelor of Engineering (BE focused in Electrical and Electronics Engineering), he is very experienced with working in a fast-paced and innovative environment.
He is also an advocate for blockchain technology and cryptocurrency, a budding pioneer for the future of DeFi. Grit Daily spoke with Dwayne about how League of Ancients works, common blockchain problems addressed, how earning works in the LOA ecosystem, and what’s up-coming for the project.
Grit Daily: How did you come up with the concept of League of Ancients?
Dwayne Ong: League of Ancients (LOA) is a MOBA NFT-game inspired by DoTA2 and League of Legends. LOA aspires to create an engaging community with a thriving economy; focusing on Free-to-Play and Play-to-Earn mechanics by leveraging blockchain technology.
Grit Daily: Can you tell us about the tokenomics involved with League of Ancients?
Dwayne Ong: League Of Ancients economy is composed of the NFT Marketplace, DeFi, and In-Game Economy that help sustain the development of the game. NFT Marketplace provides a platform for users to trade their NFT skins to obtain different rarity levels of NFT skins. Users can also stake other tokens to obtain $LOA tokens on the platform through pairing.
Grit Daily: Steam recently banned blockchain games from their platform. What effect do you think this will have for MOBA games built on distributed ledgers?
Dwayne Ong: I believe that the general public is still in the early infancy stage when it comes to speaking about crypto and NFT related projects which I totally understand as I used to be one. However, when we speak about games that are built on distributed ledgers, we are providing an opportunity for gamers to own their assets through blockchain technology which over time I believe will make it worthwhile for gamers to consider spending their money on games.
Grit Daily: Do you see cross-chain compatibility for LOA NFTs, and is this important?
Dwayne Ong At this point in time, we have made a commitment to our community to be on BSC hence, we’re focusing on ensuring that we have everything in place before we can speak about proceeding with a cross-chain network for LOA NFTs.
Grit Daily: What demographics are you targeting in terms of countries, age, gender, etc?
Dwayne Ong: Our vision is to create an excellent, stable and ever evolving blockchain game; which empowers our community with equal opportunity to earn assets while enjoying a great MOBA gaming experience. With that, generally we’re catering this to all walks of life who has a strong passion in MOBA game.
Grit Daily: Can you tell us about the Ancient Realms liquidity pool?
Dwayne Ong: Leagues Of Ancients consist of multiple universes which allow new players to kick start their journey in the League of Ancients metaverse. Ancient Realms is a smart contract that allow users to earn $LOA tokens by staking certain Liquidity-Provider (LP) tokens through different DeFi protocols strategies. Users are able to optimize yield farming with our staking mechanism; this will stabilize the price of $LOA token. All staked tokens will be converted to USDT amount to determine the amount of $LOA tokens to be airdropped daily.
Grit Daily: Do you think you can build a MOBA game more popular than both DOTA2 and League of Legends?
Dwayne Ong: Possibilities are endless, however we have to give them the respect where it’s due, as they’ve been around for decades and they are the reason why we do what we do. We are still very much focused on building a MOBA NFT game while ensuring that users will overtime realize that MOBA on NFT is a reality someday.