Governance and Tokenomics
The Aavegotchi world thrives on GHST, its very own utility token. The GHST token is the eco-governance token that powers the whole Aavegotchi ecosystem. Holding GHST grants the owner voting power in Aavegotchi DAO at a rate of 1 vote per token. GHST is also the main currency of account for trading NFTs in the Aavegotchi marketplace.
The GHST token distribution plan was structured as follows:
Private Sale: 5,000,000 GHST tokens were sold at a price of 0.05 DAI per GHST. These funds were earmarked for game development.
Pre-Sale: 500,000 GHST tokens were sold at 0.1 DAI per GHST. The proceeds from this sale were used to bootstrap liquidity in the bonding curve.
Public Bonding Curve Sale: This sale had no limit, with GHST tokens priced at 0.2 DAI each. This phase continued until the bonding curve was closed 2.5 years later, with the maximum supply reaching 53 million tokens and the price stabilizing around $1 per GHST.
Burning Mechanisms: Over time, mechanisms were implemented to burn GHST tokens, gradually reducing the maximum supply.
Stake and Earn:
The native token, GHST, can be staked in various staking contracts to earn GAX Liquidity Token Reward (GLTR) rewards.
Utility:
The primary utility of GAX Liquidity Token Reward (GLTR) is allowing players in the Gotchiverse to speed up the crafting and upgrading of their Installations by burning GLTR, allowing them to reach higher levels of the game faster.
GLTR also has a secondary utility, being the main token required for Wearable Crest auctions. Guilds will also have the choice to burn GLTR to speed up the time for their next Guild Channeling
Tokenomics
Max supply: 1,000,000,000,000 (1 trillion)
Distribution: 100% to liquidity rewards over 30 years
Vesting schedule: 10% in first year, remainder distributed over 30 years (with halving every 4 years)
Earning Through Play:
The Aavegotchi ecosystem rewards active participation by letting them earn GHST:
Rarity Farming: Rarity farming is an innovative game mechanism pioneered by Aavegotchi. It strives to reward the users who are the most thoughtfully and enthusiastically engaged with the ecosystem. As its name suggests, this is a process where you attempt to raise the rarest Aavegotchis, and get rewarded for doing so.
Components of Rarity Score
Base Rarity Score (BRS): Base Rarity Score is derived from the overall rarity of an Aavegotchi's traits, equipped wearables, and their age.
Trait BRS: The BRS of an Aavegotchi's traits is calculated using the following formula:
If the trait value is less than 50, BRS = 100 - trait value
If the trait value is 50 or greater, BRS = trait value + 1
Wearables BRS: Wearables BRS is determined by the rarity of the wearables. For example:
Rare wearables yield 5 BRS
Godlike wearables yield 50 BRS
Age Mechanic:
As Aavegotchi ages, it gains additional BRS. This mechanism was introduced in the Aavegotchi Improvement Proposal 13 .Gotchis receive a small boost to their BRS as they age, counteracting statistical variance between haunts and rewarding long-term engagement. This boost provides a buffer of approximately six months, during which older gotchis have a BRS advantage over newly summoned ones. As newly summoned gotchis age, they quickly begin to catch up to their older counterparts. The BRS boost formula is modeled after the Fibonacci sequence multiplied by one million, with the first zero replaced by a one to better fit the use case. This results in a quicker boost during the initial epochs of age, which then flattens over time to avoid overpowering older gotchis and allowing newer ones to eventually catch up within a 1 BRS difference. This system incentivizes the opening and summoning of portals, enhancing both the in-game economy and the scarcity of unopened portals. Most importantly, it is a fair system that does not favor any particular haunt, simply rewarding long-term engagement while mitigating the effects of sudden and aggressive dilution.
Calculating the Rarity Score
Rewards
In each season of Rarity Farming, the rarest Aavegotchis receive GHST rewards, derived from all sales involving GHST, which their owners can claim. Initially, there are three categories of rarity farming rewards:
Aavegotchi Rarity Scores
For each category, rewards are distributed on a descending curve, with the top Aavegotchis earning more GHST rewards than those lower on the curve. There is a cut-off point where Gotchis below it do not receive any rewards, encouraging players to strive to be above this threshold to win at least something. The proportion of rewards allocated to each category is decided by the AavegotchiDAO.
Player rewards are distributed every two weeks via on-chain snapshots. Initially, Pixelcraft handled this process manually, but it eventually was automated by the DAO. After each snapshot, successful rarity farmers can claim their rewards, and the next round begins immediately.
GHST rewards for Rarity Farming are funded by redirecting 40% of all GHST spent on wearables, consumables, and other game items into the Rarity Farming rewards pool. The final rarity score of an Aavegotchi in the overall Aavegotchi Universe constantly shifts as players summon more Aavegotchis, equip more wearables, and level up their Aavegotchis. This dynamic encourages players to make strategic decisions on how they train and equip their Aavegotchis, fostering thoughtful gameplay and active participation. The system rewards the best farmers for their efforts.
Rarity Farming is divided into different seasons. Each season has its own competition categories, size of reward pool, and reward distribution curve.
By actively participating in the AavegotchiDAO through voting and contributing, you can earn GHST for your efforts.
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