Aavegotchis are comprised of three attributes that drive their value and rarity.
Aavegotchi traits by rarity
Not all wearables are equippable by all ghosts. Many are exclusively reserved for Aavegotchis with certain levels, traits, or collateral staked. Some wearables will alter various traits of the ghost. For example, equipping one with a sword might increase its aggression. Wearables will affect the overall rarity of an Aavegotchi. Slots at launch include:
Unlike other NFT projects, rarity is not fixed in the Aavegotchi universe. It is constantly fluctuating based on a number of inter-woven dynamics. Your ultra-rare NFT might become less rare the following week based upon the overall distribution of wearables and traits throughout the universe. This enables a novel concept that the team has named “rarity farming”. The objective is to promote and reward thoughtful participation from users by allowing the trainers of the rarest Aavegotchis to collect a distribution of GHST rewards derived from all sales involving the token.
In addition to the aforementioned Base Rarity Score, Aavegotchis also have an Absolute Rarity Score which is determined by the rarity of their traits in relation to the system overall.
“For example, if many players have trained their Aavegotchis to have maximum Energy Level, then the Absolute Rarity Score (ARS) for Energy Level – TURNT would be lower than that of Energy Level – WASTED.
Absolute Rarity Score is calculated in terms of percentiles out of 100 for each of the Aavegotchi traits, so if only 5% of all Aavegotchis possess a certain trait, then that trait would receive a bonus of 95 to its ARS.
The Total Absolute Rarity Score for an Aavegotchi is the sum of:
The given rarity of an Aavegotchi in the overall Aavegotchi Universe is constantly shifting as players summon more Aavegotchis, equip more wearables, and level up their Aavegotchis. Thus, players must make strategic decisions on how they train and equip their Aavegotchis.
There is currently no limit to how many interactions an Aavegotchi can perform each period, but if bot activity became a problem then the AavegotchiDAO could vote to add circuit breakers to reduce bot activity.”
Calculation of Traits Absolute Rarity Score
The $GHST token:
The GHST token is used as the base currency for the entire Aavegotchi ecosystem. It is required to purchase digital assets ranging from portals (to summon Aavegotchis into the Ether Realm), wearables, consumables, and other collectibles. Furthermore, GHST must be staked in order to mint REALM which are the land parcels of the Aavegotchi Realm.
GHST Usage Within The Ecosystem
Essentially, players are required to purchase and spend GHST in order to summon and train Aavegotchis. A portion of this value is directed back to the DAO for funding, with the majority going towards ecosystem rewards for governance participation as well as, of course, rarity farming rewards for the best trainers in the ecosystem.
The Aavegotchi Realm:
The Aavegotchi Realm is a 2D pixelated map where the ghosts can live, encounter each other, compete in mini-games, call smart contracts, and participate in governance of the DAO. In addition to physically developing parcels of land, owners are able to implement smart contract interactions to unlock a whole world of creativity and experiences for visiting Aavegotchis.
“Physical” congregations around the City Hall for reviewing proposals could add a new dimension to DAO participation that we are yet to see. This simple yet stylistic world will serve as the social layer for the entire ecosystem. It provides a universal and engaging interface through which it hopes to contextualize the fusion of DeFi, DAOs, and NFTs.
“Aavegotchi follows in the footsteps of successful DeFi protocols such as Compound and Synthetix by following a process of “gradual decentralization”, beginning with the founding team, Pixelcraft Studios organizing a DAO-governed token distribution event (DAICO using Aragon) and culminating in placing governance of Aavegotchi, including all game mechanics, smart contracts, and funding, under the auspices of the AavegotchiDAO, but subject always to the prevailing regulatory environment. This will be accomplished in three phases.”
Comparison of AavegotchiDAO Functions
Whilst the project is still in its early stages, the team appears to be adopting a sensible approach to the rollout of what is actually quite an ambitious marriage of a few of the topics we’ve grown to love.
After last week’s bonding curve launch, there has been an explosion of activity across their community such as the “Aavegotchi Aagents” navigating through a number of weekly missions to boost their Discord Agent levels.
Assuming this early community momentum can be maintained and built upon in the run up to mainnet launch, I’m cautiously optimistic about the project. There is a lot going on and a few blanks still to fill, but its reception thus far has been encouraging. Its strong meme game should also be noted…
An important aspect of a project like this will also be immunizing rarity farming against becoming purely a whales game. I’m interested to see what mechanics the team is able to introduce to mitigate the risk of this.
Depending on audit timings, the team plans to launch on mainnet in December. The first Haunt isn’t too far away—I’ll be keeping tabs on this project as the first 10,000 ghosts are released into the wild!
Value Flow Across the Aavegotchi Ecosystem
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