Aavegotchi (GHST) Feed: Events, News & Roadmap

What is Aavegotchi?

Aavegotchi is an NFT Gaming protocol that incorporates pixelated ghost characters, known as Aavegotchis. These Aavegotchis are unique NFTs backed by the ERC-721 token standard. The project integrates with Aave, one of the preeminent lending protocols in the DeFi space, hence the name “Aavegotchi” — a blend of “Aave” (which translates to “ghost” in Finnish) and “Tamagotchi”. Aavegotchi’s flagship game, the Gotchiverse, lets players utilize their Aavegotchi NFTs as web3 avatars to engage in diverse in-game activities such as exploration, combat, and social interaction.

Each Aavegotchi has an associated escrow contract containing their “Spirit Force”, or “aTokens”, which are yield-generating tokens from the Aave Protocol. This Spirit Force defines an Aavegotchi’s base rarity score and grows over time due to the yields. When players initiate a “Portal”, ten unique Aavegotchis with varying traits are produced, but players can only summon one, with the rest being burned. These traits, generated via the Chainlink VRF (a random number generator), determine the Aavegotchi’s rarity and its performance in the Gotchiverse game. To summon an Aavegotchi, players must stake the necessary Spirit Force, and while there“s a minimum staking requirement, there”s no maximum limit. If the minimum amount is withdrawn, the Aavegotchi is sent back to the “Nether Realm”, and its associated NFT is burned, but the collateral is given back to the player.

GHST is the governance token for the Aavegotchi protocol. Holders of the GHST token gain voting power in the AavegotchiDAO, which governs the entirety of the Aavegotchi universe, including the Gotchiverse game and the Aavegotchi NFTs. GHST also plays a pivotal role in the project“s play-to-earn mechanism, known as Rarity Farming. In this system, members of the Aavegotchi ecosystem are rewarded with GHST tokens based on criteria like rarity, kinship, and XP. This incentivizes active and meaningful participation within the ecosystem, making GHST a central element to the project”s functioning and its community’s engagement.