All About Aavegotchi in 2023-What is GHST?


What Is Aavegotchi?

Aavegotchi is a decentralized gaming platform that uses non-fungible tokens (NFTs), blockchain technology, and DeFi (Decentralized Finance) components to give gamers an engaging experience. The Aavegotchi platform, which is based on the Ethereum blockchain, enables users to own and exchange "Aavegotchis," which are ghost-like entities.

Each Aavegotchi is distinct and is represented by an NFT that players may own, trade, and personalize. Aavegotchis have a variety of qualities that influence their worth and playability, including rarity, attributes, and talents. In the game "Haunt," players may employ these Aavegotchis to compete against one another.

The platform also includes DeFi components like governance, staking, and yield farming that let users earn incentives and take part in platform growth. The blockchain-based gaming trend, which uses NFTs and DeFi to produce fresh gaming experiences, is one that Aavegotchi is a part of.

All About Aavegotchi in 2023-What is GHST?

How Does Aavegotchi Work?

Aavegotchi was created using smart contracts and operates on the Ethereum blockchain. This is how it goes:

 1.How to get an Aavegotchi: Players may either buy an Aavegotchi on the market or take part in "portal drops," which are random distributions of Aavegotchis.

 2. Creating a unique Aavegotchi: After purchasing an Aavegotchi, you may make it unique by giving it wearables. Wearables are NFTs that may be acquired through gaming or purchased. Each wearable has a unique set of qualities that can change an Aavegotchi's traits.

 3.Aavegotchi interaction: Players may engage in Aavegotchi interaction by feeding, entertaining, and training them. By performing these tasks, the Aavegotchi can get experience points and level up, enhancing its abilities.

4.Haunting: Participants can take part in the "Haunt" game, which pits their Aavegotchis against those of other gamers. The winner of the combat receives incentives such GHST tokens, equipment, and experience points.

5.Staking and Governance: To gain incentives and take part in platform governance, players can stake their Aavegotchis and GHST tokens. Using Aavegotchi's governance system, users may suggest and vote on platform improvements like incorporating new features or changing game dynamics.

Ultimately, Aavegotchi mixes games, NFTs, and DeFi components to produce a distinctive platform that gives users new ways to engage with their digital possessions while earning incentives and taking part in platform development.

What Is GHST ?

The Aavegotchi platform's native ERC-20 utility coin is called GHST. On the platform, it is utilised for staking, governance, and payment. GHST is applied in the following ways, in order:

1.Payment: GHST is accepted as payment for a number of platform transactions, including buying wearables, conjuring Aavegotchis, and placing bids on portal drops.

2. Governance: GHST owners have the option to take part in the platform's governance. Members have the power to suggest and approve improvements to the platform's functions and features, as well as choose how the platform's funds are invested.

3.Staking: Holders of GHST tokens have the option of staking their tokens to get rewards in the form of more GHST tokens or other tokens. Staking GHST coins also makes it possible to take part in platform governance.

Overall, GHST is crucial to the Aavegotchi platform since it is utilised for a number of operations like staking, payment, and governance. Users are able to actively contribute to the expansion and development of the Aavegotchi ecosystem by owning and spending GHST tokens.

What Is The Total Supply Of GHST?

There are 100,000,000 GHST tokens available in total. The Aavegotchi whitepaper states that this supply is fixed and won't ever be raised or lowered

The 100,000,000 GHST tokens were divided as follows: 20% went to the Aavegotchi team and advisors, 30% to the community through various initiatives like governance rewards and liquidity mining, 10% to ecosystem partnerships and grants, and 40% went to the Aavegotchi treasury for future development and community projects.

The circulating supply of GHST may differ from the overall supply since some tokens may be locked up or owned by long-term investors, thus it's crucial to keep that in mind. The cost of the GHST is also susceptible to market changes and is liable to alter over time.

What Are The 4 Tokens Of Aavegotchi?

The Aavegotchi platform is linked to four primary tokens:

1.GHST: The Aavegotchi platform's native ERC-20 utility token, GST, is utilised for payment, staking, and governance among other things.

2.FRENS: The Aavegotchi community established the FRENS social token, which can be acquired by taking part in Aavegotchi Discord and other social channels. On the Aavegotchi platform, it may be used to purchase a variety of wearables and other goods.

3.A Tokens: The Aave protocol, which drives the lending and borrowing features of the Aavegotchi platform, generated aTokens, which are interest-bearing tokens. The Aave protocol allows users to deposit their assets and obtain aTokens, which represent their portion of the underlying asset pool and accrue interest over time.

4.Raffle Tickets: On the Aavegotchi platform, raffle tickets are ERC-721 NFTs that can be used to participate in raffles where players can win expensive and rare items.

These four currencies together support the platform's numerous functionalities, including payments, staking, lending, and borrowing.

How To Earn Money In Aavegotchi?

In Aavegotchi, there are various methods to make money:

1. Participation in "portal drops": Every so often, Aavegotchi hands out brand-new Aavegotchis. You can get a rare Aavegotchi from a portal drop that you took part in and sell it for more money.

2.Successful Battles: In the game "Haunt," players can engage in competitive Aavegotchi combat. The victor of the combat receives prizes such experience points, goods, and GHST tokens, which can be exchanged for money on an online market.

3.Putting Aavegotchis up for stake: Users may put their Aavegotchis up for stake to get prizes like GHST tokens, which can be exchanged for real money.

4.Yield Farming: Players can engage in yield farming with Aavegotchi's DeFi components. Players can obtain prizes in the form of GHST tokens or other tokens that can be exchanged for cash by staking Aavegotchis or GHST tokens.

5.Building Wearables: With the Aavegotchi DAO, players of Aavegotchi may build custom wearables. A player can receive a share of the money made from the sales of their wearable if it is accepted and added to the platform.

Aavegotchi provides users with a variety of ways to make money through games, staking, yield farming, and the production of wearables. It's crucial to keep in mind that investing in digital assets carries some risk, and the value of these assets might fluctuate.

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Is Aavegotchi In Mobile?

Although Aavegotchi does not presently have a dedicated mobile app, mobile web browsers may access the platform. This implies that you may use the web browser on your mobile device to access the Aavegotchi website and take part in the game.

Nevertheless, certain game features could be more challenging to utilise on a smaller mobile screen than on a desktop or laptop computer due to Aavegotchi's very complicated and feature-rich platform. Also, using some of the more complicated functions, like staking and yield farming, could need connecting your wallet to the platform, which can be more difficult on a mobile device.

The overall user experience may not be as fluid as using a desktop or laptop computer, even if Aavegotchi is available on mobile devices through web browsers.

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