Aavegotchi

 Engage with Aavegotchi (GHST), the governance token driving the Aavegotchi NFT Gaming protocol. GHST token holders wield voting power within the AavegotchiDAO, governing the entirety of the protocol, including Aavegotchi’s premier game, the Gotchiverse, and Aavegotchi NFTs.

Aavegotchis are pixelated spirits underpinned by the ERC-721 token standard. These NFTs boast dynamic metadata that evolves over time through user interaction.

An Aavegotchi's worth and scarcity hinge upon its collateral stake, traits, and wearables.

Collateral stake is rooted in the innovative ERC721 Aavegotchi NFT, which manages an escrow contract holding Aave-backed ERC20 collateral or "aToken." These tokens generate yield via Aave's LendingPool. Traits are determined by random attributes at birth, kinship, and experience (XP).

Named in homage to Aave, meaning "ghost" in Finnish, the protocol is fueled by the Aave protocol, a leading DeFi lending platform. The token ticker ingeniously spells "ghost" without the vowels.

Who Founded Aavegotchi?

Aavegotchi is the brainchild of Singapore-based Pixelcraft Studios.

Jesse Johnson, COO and co-founder of Pixelcraft Studios, boasts prior roles such as director of business relations/development and manager of international market development in companies like China Intop Exhibition Co and ZB Group. Meanwhile, Coder Dan serves as the CEO and co-founder at Pixelcraft Studios.

Stani Kulechov, Aave’s founder, served as the project’s inaugural advisor.

In November 2020, Aave injected funds into Pixelcraft Studios. While the mainnet launch was slated for Jan. 4, 2021, it was postponed to March 2021 due to exorbitant transaction fees on the Ethereum blockchain. Given Aavegotchis require daily engagement, the community opted to unveil the project on Polygon, Ethereum's premier side chain.

On March 20, 2023, Pixelcraft Studios celebrated the culmination of a multi-year token sale, amassing $30 million. The sale of the $GHST token adopted a decentralized fundraising model, DAICO, proposed by Ethereum's founder Vitalik Buterin. This initiative kicked off on Sept. 14, 2020.

How Does Aavegotchi Operate?

Each Aavegotchi NFT administers an escrow contract harboring their "Spirit Force," synonymous with "collateral" or "aTokens," a cache of yield-generating tokens from the Aave Protocol. Thanks to accrued yield, an Aavegotchi's Spirit Force escalates over time.

Aavegotchis boast a minimum Spirit Force, initially determined by their base rarity score. Upon initiating a Portal, ten Aavegotchis materialize with unique trait combinations. Users may summon one Aavegotchi from the cohort, while the remaining nine are permanently erased. An Aavegotchi's traits stem from Chainlink VRF, an on-chain random number generator, culminating in the base rarity score.

Traits influence an Aavegotchi's rarity and performance in the Gotchiverse game. To summon an Aavegotchi, users must stake the requisite Spirit Force. The minimum stake remains constant throughout an Aavegotchi's lifespan. However, there's no cap on Spirit Force. Removing the minimum amount banishes the Aavegotchi to the Nether Realm, burning the NFT and returning collateral to the owner.

What Sets Aavegotchi Apart?

Aavegotchi spearheaded several breakthroughs and features in the NFT Gaming Space. Firstly, it was the inaugural major NFT protocol to launch on Polygon. The protocol has disbursed millions in rewards via Rarity Farming, incentivizing active participants with GHST tokens based on rarity, kinship, and XP.

The Gotchiverse, Aavegotchi's flagship game, has thrived on the Polygon mainnet since March 2021. Within the Gotchiverse, players leverage their Aavegotchi NFTs as web3 avatars to explore, construct, combat, earn, and socialize. The fair-launch playdrop introduced four ERC-20 tokens dubbed Gotchus Alchemica: FUD, FOMO, ALPHA, and KEK. These tokens represent the elements of the Gotchiverse, facilitating the crafting and enhancement of Installation NFTs on players' land parcels. Additionally, GLTR, a fifth ERC-20 token, rewards Alchemica liquidity providers, expediting Installation crafting and upgrading in the Gotchiverse.

Another innovation is Gotchi lending, an enhancement of the traditional scholarship model prevalent in play-to-earn games. Gotchi Lending eliminates intermediaries and mitigates human error. It empowers players to securely lend their Aavegotchi NFTs to peers, with token earnings automatically distributed based on contract terms post-lending period.

Aavegotchi achieved another milestone by becoming the premier NFT gaming protocol with its governance token accepted as collateral on Aave in February 2022. The inaugural cross-chain governance proposal on Aave was ratified, enabling GHST listing as new collateral on Aave’s Polygon Market alongside BAL, CRV, DPI, LINK, and SUSHI.

How Many Aavegotchi (GHST) Coins Exist?

GHST token has a maximum total supply of ~52,747,802 tokens, following the closure of the bancor bonding curve model utilized to dynamically adjust token supply.

GHST token distribution is as follows: private sale (5M GHST tokens), pre-sale (500K), public bonding curve sale (no limit, closed via AGIP-64 vote), ecosystem fund (1M), team fund (1M).

How Is the Aavegotchi Protocol Secured?

Leveraging the Polygon blockchain, the project relies on a proof-of-stake (PoS) consensus mechanism. Network validators stake MATIC tokens as collateral to participate in the PoS consensus mechanism, earning MATIC tokens in return.

Aavegotchi smart contracts are open source, ensuring transparency and enabling independent scrutiny for potential errors or hidden vulnerabilities. These contracts have undergone multiple audits by reputable industry leaders and have remained exploit-free since inception.

Where Can You Purchase Aavegotchi (GHST)?

GHST is tradable on major cryptocurrency exchanges. It's paired with various tokens on centralized platforms such as Binance, Crypto.com, Kraken, OKEx, MXC, and Bilaxy. Furthermore, it's accessible on decentralized exchanges like Quickswap and Uniswap