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It is your up-to-date literacy class within the blockchain sphere. Every day, we collect the most current information about the DeFi industry, tracking all its ups and downs.

What is Aavegotchi?

Aavegotchies are NFT’s staked with DeFi-enabled ERC20 tokens, powered by Aave and known as aTokens.

Can Aavegotchies be traded/sold/bought?

Of course! You’ll be able to trade your Aavegotchi in NFT markets like OpenSea. Moreover, all of the staked collateral comes with your Aavegotchi when you trade it.

Is Aavegotchi an official Aave project and if so, how involved is Aave?

Aavegotchi is the recipient of an Aave Ecosystem Grant but they are not an official Aave project. However, Aave has been extremely helpful and we’re in close contact with the team.

Who’s on the team?

• Chief Summoner / Tech Lead - @coderdan
• Chief Coordinator / Product Lead - @gldnxross
• Chief Visionary / Art Director - @xavieriturralde
• Chief Wizard / Solidity Lead - @mudgen

Who’s advising?

• Stani Kulechov, Founder of Aave

What’s the business model?

Initial funding for the project (beyond the Aave grant) will be provided by a DAO-governed sale of the $GHST utility token (DAICO), which will be redeemable for Aavegotchi collectibles when they are live on Mainnet and burned upon use. Further revenue will be generated by sales of wearables, consumables and the fees collected from mini-games.

Why do I need KYC to buy from the bonding curve?

Because the Aavegotchi team is not anonymous, it is the responsibility of the project to ensure that the token distribution of GHST is in compliance with securities regulations in various countries. Thus, the team must perform KYC on our buyers/sellers and restrict access to only those countries where GHST is not considered a security. You can perform KYC at aavegotchi.com/kyc (Mainland Chinese and US citizens, unfortunately, cannot be accepted, due to securities regulations).

Will you still be able to buy Aavegotchi if you can't do KYC?

Of course! The KYC process is only limited to the token bonding curve, not Aavegotchies in general. You will be able to purchase and stake your Aavegotchi even if you are not able to fulfill the KYC requirements on the token bonding curve.

GHST has also been community-listed in several other exchanges and DEXes. The official token contract address of GHST is:

0x3F382DbD960E3a9bbCeaE22651E88158d2791550.

Please use extreme caution when buying from unofficial sources.

What’s the difference between buying from Curve and buying on external sources?

The biggest difference is that buying from Curve supports the Aavegotchi DAICO initiative. Every month, a small portion of the reserves are allocated to the Aavegotchi team to fund development, marketing and DAO proposals. If no one buys from Curve, there will be no funds in the reserves to use for these purposes. Get verified – is the process for getting the approval that you are not from the US, China, Iran or North Korea.Aavegotchies can be bought with GHST tokens but its main characteristic is attached to the amount of aTokens you have (the ones you get for adding liquidity to Aave pools). All the additional features can be bought for GHST. 

Each Aavegotchi has 3 types of features that form the tokenomics of the project:

• Spirit Force
• Traits
• Wearables 

Each of these features is technically attached to a separate protocol which is very convenient in terms of forcing several products on the project (for instance, you can attach Spirit Force to the amount of NOAHP on your custodian wallet). Подробнее

Spirit Force 

Nether Realm – Ether Realm – Human Realm

Spirit Force is a mythical force that creates a portal for calling Aavegotchies to the ethereal world. Technically, this is the amount of staked collateral from Aave = aTokens (aDAI, aUSDT, aLINK, aLEND, etc.).

Each Aavegotchi has its minimum Spirit Force target (the minimum amount of aTokens directly correlated to the number of real tokens invested in the Aave pool). This target can grow. However, if it’s not making the minimum target, the Aavegotchi will return to the underworld forever. Technically, they are burnt. Spirit Force (aTokens) is given to a new holder during the purchase. 

Traits 

Each Aavegotchi has a number of specific traits that determine its rarity, abilities in the mini-games, and equipment abilities. 

These traits are divided into:

• Random
• Attached to the actions of the holder
• Defined by the community

Random traits 

When you create an Aavegotchi, its random traits are generated through a Chainlink VRF (Verifiable Randomness Function) generator. All the traits are divided into Common, Uncommon, Rare or Mythical.

Other characteristics

Kinship

This has a minimum start level. Its amount can change due to different factors like the duration a holder has it in their possession (how long NFT’s are located on the same address and raise the holding interest). It can also depend on the frequency of a holder’s actions with Aavegotchi (purchasing, investing, etc.).

A high level of kinship improves the performance of an Aaavegotchi in games and increases the GHST reward level.

Ways to boost your Aavegotchi’s kinship level

• Aavegotchies are born with a sense of civic duty. Bring your Aavegotchi to City Hall and let it vote in AavegotchiDAO
• Aavegotchies may be ghosts but they have voracious appetites! Feed your Aavegotchi consumables to see its spooky smile
• Aavegotchies love trying on new clothes. Equip your Aavegotchi with new wearables to forge a lasting bond 
• Aavegotchies love to play! Take your Aavegotchi out for a romp in the Aavegotchi Realm and level it up by playing mini-games.

Experience 

Aavegotchies receive experience (XP) for voting in AavegotchiDAO and playing mini-games. Aavegotchies can also be sacrificed to remove their collateral stake which can be transferred to another Aavegotchi. The recipient will receive a percentage of the sacrificed Aavegotchi’s accrued XP. The exact percentage will be determined by the AavegotchiDAO. 

Level 

Aavegotchies ‘level up’ as they gain more XP. Every few levels, Aavegotchies receive one Spirit Point that can be allocated to the increase or decrease of a certain trait. Some wearables can only be worn by Aavegotchies of a certain level.

Haunt 

Like pioneers of the New World, Aavegotchies travel from the Nether Realm to the Ether Realm in groups known as Haunts. The initial Haunt contains 10,000 Aavegotchies. Thereafter, new Haunts must be approved for travel by the AavegotchiDAO. Some wearables can only be worn by Aavegotchies belonging to a certain Haunt.

Equipment

In addition to managing the aToken escrow, Aavegotchies also extend the ERC998 Composables standard, which allows them to manage child ERC721 or ERC1155 NFT’s, known as wearables in the Aavegotchi ecosystem.

Consumables

Consumables can be used to temporarily boost Aavegotchi’s stats, for example, before participating in a mini-game. As the name implies, they will be burned and removed from the Aavegotchi’s inventory after usage. 

How is an Aavegotchi’s price set?

The Aavegotchi price is calculated using the following formula:

intrinsic value + rarity score 

Intrinsic value is the Spirit Force rate, aka staked collateral. 

If the Aavegotchi is staked with 10 aDAI, then the intrinsic value would be 10 aDAI, plus whatever extra aDAI has accrued from the Lending Pool. 

The Rarity score is determined by calculating the rareness of each Aavegotchi’s traits and the wearables it is equipped with in the Aavegotchi universe. 

NB! Aavegotchi do not have a fixed rarity. It can be raised or lowered.  This enables a novel concept known as ‘rarity farming’.

The Aavegotchi Universe

The Aavegotchi Universe encompasses all the elements that allow Aavegotchies to operate, including Portals, the GHST utility token, AavegotchiDAO and the Aavegotchi Realm. 

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