You have probably not escaped the craze for decentralised finance. You may have recently discovered non-fungible tokens (NFTs). They are fascinating ecosystems, boiling with promise. But what about the merging of these concepts? This is the Aavegotchi project, NFTs based on protocols of decentralised finance, with a Tamagotchi sauce. If it seems a little complex to understand, rest assured I’ll explain it all to you, and it’s really interesting!
The Aavegotchi concept
Aavegotchi is a community project supported by a grant from the Aave decentralised finance platform team. To put it simply, it is about digital ghosts (sort of virtual Tamagotchis!), with attributes, accessories and above all Aave aTokens.
It is a community-based project (governance by a CAD), carried by the blockchain video game studio Pixelcraft. They now own the Aavegotchi brand and are responsible for its development and the monitoring of the public roadmap.
Today, the studio has a great influence on the project in order to quickly develop the functionalities necessary for the launch. However, little by little, CAD will become more and more important, allowing everyone to have their say.
Autopsy of an Aavegotchi
Our ghost companions are therefore ways of getting interest from our cryptomonnages, but they are also fellow players. This way, we can interact with them, in the way of Tamagotchi (and more interesting!). The Aavegotchis thus have different characteristics, which make them unique. Here is the list and explanations of these different characteristics, the Aavegotchis being much more complex creatures than one might think.
The spiritual spirit
The spirit of an Aavegotchi is the link between these NFTs and the DeFi. It is also what allows their owners to get a return on these virtual companions. It is a quantity of aTokens linked to the Aavegotchi. The longer you keep your Aavegotchi, the more profitable it will be. During a sale, the aTokens are also transferred to the new owner.
Technically, the non-fungible token is the operator of a smart-deposit contract intended to receive aTokens. These aTokens can be obtained via the Aave protocol, by lending various Ethereum tokens to other users. Each aToken generates an income, depending on the ROI of the loaned token (Dai, USDT, LINK, AAVE and many others).
If the owner of a ghost recovers the linked aTokens, the Aavegotchi is destroyed.
The second characteristic of an Aavegotchi is its essential features. Given to its creation, they will define its capacities during mini-games. No one trait is optimal, but each one will particularly influence performance in different activities.
List of traits :
- Sinister character;
- Brain size;
- Eye size;
- Colour of eyes.
Each of these traits can be Common, Unusual, Rare or Mythical, which will influence their value (between 0 and 100). Obviously, power comes with rarity and only 4% of Aavegotchis will have a Mythical trait for example.
This character determines the loyalty of your Aavegotchi to you. It obviously depends on whether you interact with him regularly or not, but also on the length of time you have adopted him. Aavegotchis are not simple smart-contracts dedicated to the storage of aTokens, but real virtual companions!
Some ways to improve your relationship with your Aavegotchi :
- Participate with him in the governance of the AavegotchiDAO ;
- Feed him;
- Make him equip him with nice equipment;
- Take him/her to do activities and other mini-games.
Level and experience
Aavegotchis gain experience by participating in activities such as governance or mini-games. You can also sacrifice an Aavegotchi to get back the aTokens linked to him, but also to transfer part of his experience to another Aavegotchi.
As he gains experience, an Aavegotchi will increase his level. During certain level gains that have yet to be defined, you will get points that will allow you to improve some of your companion’s character traits. Also, certain equipment can only be worn by ghosts of a certain level.
The Aavegotchi do not come alone on Bitcoin Bank Scam, but as a tribe. A tribe represents a group of a certain number of Aavegotchi (10,000 for the first tribe), defined by the DAO. Some facilities would be specific to a particular tribe for example.
Equipment is the best way to personalise your digital companions. Each Aavegotchi can wear different equipment, each of which has a specific level of rarity and sometimes limitations (types of aTokens, ghost level, tribe or character trait). Here are the different types of equipment that exist at launch :
- Headgear ;
- Eye accessory;
- Hands right/left;
Each piece of equipment has a rarity: Common, Unusual, Rare, Legendary, Mythical and Divine.
How to define the value of an Aavegotchi?
The rarity and the value of an Aavegotchi are determined by two main notions: the intrinsic value of its aTokens and its rarity score. Indeed, if the ghost is linked to 300 aDai, it is possible to deduce that its value is at least that of these aDai.
The score of rarity as for him as for him is determined by the power of the features of the ghost and the rarity of the equipment which it has. This score is obviously not fixed, since the Aavegotchi can evolve over time and the equipment can be changed.
It is important to know that the rarest Aavegotchi in the ecosystem will be rewarded with a part of the GHST used by the users during invocations. Thus, some ghost owners will be able to set up double passive income strategies with their companions. On the one hand the returns from the aTokens owned and on the other hand the recuperation of these GHSTs.
The two tokens of the project: Ghost and FRENS
The Aavegotchi project revolves around two different tokens, the main one : GHST and another token dedicated to equipment, the FRENS.
The GHST is the main token of the ecosystem. It allows the purchase of Aavegotchi invocation portals, equipment and other consumables (ghost food for example). Blocking them on the protocol will also make it possible to obtain virtual plots of this universe.
The FRENS, for its part, has a more secondary role. Today, its only utility is the purchase of lottery tickets, allowing us to get a sneak preview of equipment for our future companions. A way of rewarding the first players.
There will be 3 lotteries by the time the protocol mainnet is released, and FRENS are already available. Note that FRENS are not exchangeable, but the lottery tickets are exchangeable NFTs.
Getting GHSTs and FRENS
The GHST is the token dedicated to the use of the Aavegotchi ecosystem. It is necessary to summon new ghosts and will be used during exchanges between players, so how to get it?
The first phase of distribution of the GHST was quite classic, a private sale for 5 million GHST at the unit price of 0.05 Dai/GHST. This was followed by an open pre-sale, distributing 500,000 GHST at the unit price of 0.1 Dai/GHST.
Nowadays, if you wish to obtain GHST, you will have to buy them on exchanges (Uniswap, OKEx…) or use the „Bounding Curve“. This is a distribution of tokens at a mathematically fixed price, the more tokens in circulation, the higher the price and vice versa. It can also be obtained through tournaments, participation in governance or by owning the rarest Aavegotchi.
As for the FRENS, it has no fiduciary value and cannot be purchased from other users. Indeed, FRENS are linked to the person who obtains them. In order to obtain them, it is sufficient to staker GHSTs on the protocol, or to provide liquidity to the Uniswap GHST/ETH pool. Each GHST staked on Aavegotchi earns 1 FRENS per day, compared to 100 for the GHST/ETH LP tokens.
It is necessary to have one or more ghostly companions to take full advantage of the protocol. Indeed, it is with them that you will be able to play mini-games, take part in the governance or show off all your rare equipment in the Aavegotchi 2D openworld. But how to get these famous ghosts and how much would it cost us?
The main tool to get an Aavegotchi is the portals. These are the source of ghost creation and it will be necessary to use one to get one. Opening a portal allows you to obtain an assortment of ten random Aavegotchis, from which you will have to select the one that suits you best.
Each one will have different character traits, but also a specific number and type of aToken, which you will need to provide to obtain it. There is a defined number of portals per Aavegotchi tribe, e.g. the first tribe will have 10,000 portals when the protocol is launched.
Note that it is possible to simply buy, keep and collect portals to resell them in the future!
Aavegotchi Realms, mini-games and CAD
Aavegotchi Realms is the virtual world in which our virtual companions live. It will be accessible by browser, in the form of a 2D world, seen from above/3 quarters. It is here that our Aavegotchis will be able to interact with others, participate in mini-games and tournaments, as well as governance through CAD.
It will be possible to staker GHSTs in the same way as for obtaining FRENS, but to obtain plots of land from Realms (the REALMs). Each plot will be visible to other players and will be customisable by the owner.
The mini-games will be accessible to everyone on the Realms. Winning mini-games will not only improve your Aavegotchis, but will also be a potential source of income! Indeed, the winner will win the interests of the loser’s spiritual spirit. If you had a spiritual spirit of 250 Dai and 3.60 Dai interest, these are distributed to your winning opponent.
The mini-games will be varied, from basic random to more complex games requiring strategies. The particular traits of the ghosts will influence their abilities (a crafty Aavegotchi will perform better in the ring than a cake maker).
Finally, CAD will also be a point of interest in Realms, since it is here that the future of Aavegotchi will be drawn. Different versions of the CAD will follow one another, giving users more and more powers (and rewards) over the management of the ecosystem. But where the project stands out is above all with virtual CAD, in the Habbo style. Pixelated discussions in real time where everyone can defend their proposals. You will be able to influence the game by proposing new mini-games, tribes of Aavegotchis or future equipment for example.
What is available to users today?
The project is under development and it is not tomorrow that you will be able to interact with your ghost companions. But the team and the community have been very active since the beginning of Aavegotchi last August. So, you can preview the features under development on Ethereum testnets and give your opinion.
Concretely, you can only get the two tokens of the project (buy the GHST and the staker to get FRENS) at the time I write these lines. You can also take part in community missions to obtain special equipment at the launch. On the testnet side, the portals and the Aavegotchi invocation are available, a practical way to discover how they work.
So much for this presentation of the Aavegotchi project, one of the rare projects that wishes to combine the best of DeFi and NFTs. Will you answer the call of these ghosts, sorts of virtual Tamagotchis boosted with hormones? If you wish to go further in your discovery of the project, you can find the Community Discord and different ways to learn more while winning rewards. If you have any further questions, feel free to post a comment or contact me on the social networks!