Aavegotchi
Aavaegotchi is a De-fi enabled crypto collectible game. It allows the players to stake NFTs (non-fungible tokens) with interest generating tokens. This is a very unique combination of Decentralized finance and NFTs. It is based on the Ethereum blockchain.
What Are Aavegotchis?
Aavegotchis are rare crypto-collectibles living on the Ethereum blockchain. They possess three attributes that define their overall value and rarity.
The three important attributes are:
- Collateral stake: Each Aavegotchi ERC721 NFT manages an escrow contract address that holds an Aave-backed ERC20 collateral, in simple words “aToken ''. “Atokens” generate yield via Aave’s LendingPool, which increases the quantity of aTokens held in the wallet. Thus, the amount of aTokens held in the Aavegotchi’s escrow address grows over time.
- Traits:Avegotchis possess multiple traits that influence their rarity, their performance in mini-games, and the wearables they can equip. Some are generated randomly upon birth, and others depend on user interactions with the Aavegotchi.
- Wearables:Aavegotchis also manage child NFTs known as wearables in the Aavegotchi ecosystem.
Wearables have the ability to increase or decrease certain traits of the Aavegotchis.
Having Aavegotchis, results in so much potential to earn money through stakes and trading. This game is one of a kind, with a large extent of flexibility in it’s own universe.
Smart contracts
Aavegotchi also has smart contracts to add on more fun with the rules binding, so that no one takes the advantage of such a worthy platform, and so it is safe to interact here. All the contracts are shown publicly on their website. Here is a link for you to check it out.
https://wiki.aavegotchi.com/en/contracts
GHST
GHST, is a token that is used as the base ecosystem currency for the purchase of various on-chain Aavegotchi assets. The assets include portals, collectibles, consumables etc.
Tokenomics
The tokenomics of Aavegotchi aims to achieve four goals
1.Creating a healthy play-to-earn ecosystem that rewards active players.
2.Ensuring the GHST has a strong foundation for long-term value capture.
3.Building a treasury for AavegotchiDAO to use on discretionary spending
4.Providing ongoing financial rewards to those developing Aavegotchi.
STAKES AND TICKETS
Staking refers to the process of locking up your cryptocurrency in return for rewards. This is no different in the Aavegotchi project. The native token, GHST, can be staked in the Staking Contract to earn .
Tickets are NFTs that allow you to participate in Aavegotchi Raffles to win prizes. They can be purchased using FRENS obtained from staking or on the Baazaar using GHST tokens.
Aavegotchi is a completely organized game where earning can be a lot of fun. It just requires a good knowledge of the platform so that you don't miss any opportunity on earning.