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Interesting. I was wondering how overpowered these reward swaps would be, seems to me that I've found the answer to that.

Ah well, not surprising, might have to log on quick and exchange my scorpion meat, I think I have like 250 or so to swap in.

The guy in the video is the #2 player on the dom tower highscores with 189 df. To contrast, I have 1.8m df after 500 battles, almost all of them in endurance mode. It's likely this guy played in climber mode and earned significantly more df per battle, but he still spent a lot of time to earn all the rewards he traded in.

The fact that past rewards can be traded in means people like him are in for an enormous one-time xp bonus along the lines of people who were allowed to keep all their effigies after the nerf, but I don't see what the big deal is. All the time spent there could have been spent earning far more xp elsewhere.