AAVE is the DeFi project that has received the most attention and created the most wealth-creating stories this year. NFT is the track that has received the most high hopes from the DeFi community after the liquidity mining bubble burst. Can the combination of the two create a popular project?
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What is Aavegotchi
Now there are more and more "secondary use" projects for LP Token on the market. When we pledge on the popular lending agreement AAVE, we will get "A Token”, and Aavegotchi “reuses” aToken.
To mention here, the founder of AAVE also acted as an advisor to Aavegotchi and invested in Aavegotchi.
Aavegotchi, also known as "little ghost", is an NFT of the ERC721 standard. Each Aavegotchi is unique, and its value and scarcity are determined by the number of collateral assets, characteristics and "wearable equipment".
The ERC721 NFT behind each Aavegotchi manages an escrow contract address, which hosts various aTokens. As the income in the Aave lending pool continues to grow, the number of aTokens in the wallet also increases, and the number of aTokens stored in the Aavegotchi custody address also increases.
In short, you can get Aavegotchi little ghost by locking aToken. However, the main network is not yet online, and the collection and trading of Aavegotchi are not yet supported, but you can already obtain coupons and draw wearable devices through GHST mining.
Each Aavegotchi has several traits that affect its rarity, performance in mini-games, and obtainable wearables. Some traits are randomly generated, and some traits can be blessed with equipment by purchasing coupons, participating in activities, etc.
Aavegotchis have various traits that affect their rarity, their performance in minigames, and their wearables. Some traits are randomly generated at birth, while others depend on user interactions with Aavegotchi.
1. Randomly generated traits: When each Aavegotchi is born, it will be randomly assigned several trait values using the ChainLink VRF random number generator. Trait values are distributed on a bell curve, and each trait is assigned a value according to its degree: Common, Uncommon, Rare, Legendary, or Mythical.
2. Kinship:"kinship"Rather than being assigned randomly, it starts at birth with a fixed value and increases or decreases based on various factors, such as how long the Aavegotchi spends with the same owner, and how often the owner interacts with it.
3. Level: Aavegotchis gain more experience by voting in AavegotchiDAO and participating in small games, thus"upgrade level". Every few levels, Aavegotchis gain a soul point, which can be used to increase or decrease a certain trait.
4. Wearables: In addition to managing aTokens, Aavegotchis have also extended the ERC998 Composables standard to enable them to manage sub-NFTs, wearable devices in the Aavegotchi ecosystem.
Not every wearable can be equipped by every Aavegotchi. Some wearables may only be equipped by Aavegotchis with certain appendages, Aavegotchis with certain ranks, and Aavegotchis with certain traits.
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Where is the value of Aavegotchis?
1. Intrinsic value:
Intrinsic value is the value of Aavegotchi collateral. If Aavegotchi had 10 aDAI as collateral, the intrinsic value would be 10 aDAI, plus any additional aDAI accumulated from the lending pool. It stands to reason that we are looking forward to the continued growth of the value of Aavegotchi's hosted aToken.
Currently only aToken can be used as collateral. But after AavegotchiDAO launches, the community will vote on which new collateral to allow.
2. Rarity:
Rarity values are determined by calculating the rarity of each Aavegotchi's traits and equipped wearable items in the Aavegotchi universe.
Unlike other NFT games, rarity is not a fixed value in Aavegotchi—it can change as Aavegotchi levels up and equips different wearables. So a rare Aavegotchi may become common in one week and vice versa. It depends on the overall distribution of characters and wearables in the Aavegotchi universe.
This implements a so-called"Rare mining (rarity farming)"The new concept of Aavegotchi is a bit complicated and will be explained in more detail in the Aavegotchi white paper. (secondary title）
Aavegotchi Universe Design
The Aavegotchi universe contains all the elements that make Aavegotchis work, including Portals, GHST governance tokens, AavegotchiDAO and the Aavegotchi virtual world.
1. Portal: The portal is the channel between the world of Aavegotchi and the etheric world of humans. Anyone wishing to summon an Aavegotchi must first acquire a portal through the official Aavegotchi Dapp or an external marketplace.
To obtain an Aavegotchi, users must pledge aToken to the portal. If the owner removes this initial collateral, the portal will crash and Aavegotchi will be destroyed.
2. GHST token: GHST is the official token of the Aavegotchi ecosystem and can be used to purchase portals, wearable devices and consumables. Part of the GHST tokens will be returned to AavegotchiDAO participants for incentives. Rare mining also requires $GHST.
(Note: GHST conducted a public offering in September, which is divided into pre-sale and joint curve auction. The number of tokens sold in the pre-sale is 500,000 GHST, and the price is 0.1 DAI. It will be locked for 12 months and has a 6-month vesting period. Period. The price of the bonding curve auction is 0.2 DAI, and there is no limit on time and quantity. In addition, GHST has no total amount limit, and it is a model of on-demand generation + destruction mechanism. Friends who want to invest can refer to it.)
3. AavegotchiDAO: Initially, AavegotchiDAO will manage all funds generated through the issuance of GHST tokens. After the Aavegotchi mainnet is launched, AavegotchiDAO will also be upgraded to add more responsibilities, such as voting on new collateral, updating game mechanics, and possibly even limiting the supply of Aavegotchi.
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current progress
As mentioned above, the main network of Aavegotchi is not yet online, so it does not support the collection of "little ghosts", and naturally it cannot be seen on platforms such as Opensea. However, the main network has already pledged GHST, mined FREN (currently this token is not in circulation on the platform, and is only used to purchase coupons on the Aavegotchi platform), and exchanged FREN for coupons of different rarities, and then draw equipment in regular activities Function. Preview it first. Then it's time to play happily with Aavegotchi.
At present, the project party has been holding activities from time to time, and those who have lottery tickets can participate. Not long ago, they drew the same plaid shirt of the founder of Chainlink, and festivals often release various limited editions. Interested students can follow their official Twitter and Medium.
Finally, attach the project development plan announced by the founder.
Reference content:https://aavegotchi.medium.com/
