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Powered by Aave, Aavegotchi is a type of ERC-721 Non-Fungible Token (NFT) generated by staking various supported ERC-20 tokens. The Aavegotchi ecosystem introduces features including token collateral staking, dynamic rarity, rarity farming, and game mechanics governed by a Decentralized Autonomous Organization (DAO).
GHST is the native utility token of the Aavegotchi ecosystem and is used for the following:
Payment: GHST is used as the base currency for the purchase of various digital assets, such as Aavegotchi Portals, wearables, consumables, and collectibles.
Staking: players are required to stake GHST to mint REALM, the land parcels of the Aavegotchi Realm, as an indication of commitments to the ecosystem and safeguard against malicious behavior.
Governance: GHST will be rewarded to users who participate in the governance of the AavegotchiDAO.
Aavegotchis possess three attributes that determine their overall rarity and value, including:
Spirit Force: Each Aavegotchi NFT manages an escrow contract address that holds Aave-backed ERC-20 collateral, called Spirit Force, or collectively represented as an aToken. The aTokens are interest-bearing derivative tokens that are minted and burned upon deposit and redemption.
Traits: Aavegotchis possess multiple traits that influence their rarity, performance in mini-games, and the wearables they can equip. Some traits are generated randomly upon birth, while others depend on user-interactions with Aavegotchis.
Wearables: In addition to managing the aToken escrow, Aavegotchis can also manage child ERC-721 or ERC-1155 NFTs, known as wearables in the Aavegotchi ecosystem. Some wearables can increase or decrease certain traits of an Aavegotchi.
The project has raised 250,000 USD via private token sales, where 5,000,000 GHST tokens have been sold at 0.05 DAI / GHST.