Aavegotchi Community Update #10

Hey frens 👻! Another wild week here at Aavegotchi HQ. Check out the highlights and keep reading to learn about SOMETHING BIG we’re doing to celebrate our 10th Community Update!

This Week’s Updates Include:

  • Journey to Mainnet Milestone 1: Testnet Portals available starting now!
  • GHST token distributed to over 5700 unique addresses. A 250% weekly increase!
  • AavegotchiDAOs tap’s maiden voyage: adding GHST liquidity on Uniswap
  • Aavegotchi announces integration with Chainlink VRF
  • Aagent Mission 7 “Just DAO it” winning proposals are in
  • This Week’s Mission: MEME CONTEST!

Journey to Mainnet Milestone 1: Testnet portals available starting now!

Last week, we published a piece detailing Aavegotchi’s roadmap to launching on Mainnet. Up to now, everything about Aavegotchi has been completely open and transparent, from our private and presale, to our launch of the bonding curve.

It’s been extremely exciting seeing our community’s positive reaction to this level of transparency, so we decided hey, why not build Aavegotchi publicly too?

Each week (or two), we’ll be releasing new versions of Aavegotchi on testnet for you to play.

Starting this week!

We’re excited to announce that Aavegotchi is live on Kovan testnet. If you visit https://testnet.aavegotchi.com on Kovan testnet, you’ll see the Play button.

In this week’s release, you can:

Next week we’ll be adding a lot more functionality, so stay tuned!

GHST distribution widens by over 250%

The first full week following the launch of the GHST Token Bonding Curve (TCB) saw the numbers of wallets holding GHST increase from 2000 to more than 5700, a roughly 250% increase!

Access to GHST continues to increase with Uniswap and Balancer DEX’s both filling with liquidity. Over a dozen crypto exchanges have also listed GHST.

Note that the Aavegotchi team cannot vouch for the validity of exchanges listing the token, as the overwhelming majority of exchanges did not contact the team prior to opening deposits; the only exception being BW.io. Thanks for calling first fren ❤️.

AavegotchiDAO’s tap dedicates first week’s funds to Uniswap liquidity 🚰💰

The AavegotchiDAO tap was immediately put to use to help bootstrap GHST liquidity in the Uniswap GHST/ETH trading pool.

While the tap serves a primary purpose of funding the core team, the need for more Uniswap liquidity was immediately obvious. This was our first interaction with the DAO’s tap function, and it functioned exactly as expected.

Our goal is to see liquidity deepen to a point that low-slippage orders of 100k or more become feasible. However, this will need to happen organically as the AavegotchiDAO is limited in how much funds can be deployed. The entire tap is currently set to just 50k DAI per month via a daily drip of funds.

A DAO vote to increase tap funding is possible 30 days after the launch of the DAO.

Chainlink VRF integration confirmed 👻💕⛓

We’re excited to confirm that our randomizing solution for portals, mini-games, and much more is going to be executed via Chainlink’s VRF randomizer. You can read more in our recent blog post about this innovative oracle solution and how Aavegotchi will use it.

Mission 7 “Just DAO it” winners announced

Our community’s first DAO related mission was a no-holds-barred brainstorm session taking place on Snapshot. Community members proposed a wide variety of ideas over 20+ proposals! This was a gas-less as well a consequence-free exercise designed to be as open ended as possible.

That’s probably for the best, as some of the top voted proposals suggested foundational changes to our token distribution model.

Ultimately, this exercise highlighted the gap between those enthusiastic about the token bonding curve and all its benefits and those worried about this relatively new distribution mechanism.

Over the coming weeks, we’ll continue to educate newcomers on why the curve is our friend and why it’s a great addition to the Aavegotchi ecosystem.

Aavegotchi Lead Summoner coderdan started by unleashed a tweet storm on Twitter, detailing the benefits of the bonding curve:

But without further ado, here are the top three proposals as determined by total supporting GHST tokens snapshot!

🥇 First Place: Cap the Curve

Two separate proposals were entered with this idea, and both had the highest amount of votes of any proposal, each totaling over 1M GHST. Therefore, it’s a tie! Each proposing address will receive half the prize money, roughly 166 GHST each.

As we have mentioned many, many times in multiple places, this proposal is not going to happen, at least until AavegotchiDAO v3.0, when the DAO completely runs Aavegotchi. The bonding curve is a core component of the DAICO, and without the DAICO, there’s no Aavegotchi. Like it or not, the curve is here to stay.

Winning Proposal 1: Hardcap the bonding curve https://snapshot.page/#/aavegotchi/proposal/QmZNovfVXQ1ps1U9qcvgtzM8LVN4LQPbzpUF5TDqbdRwCQ

Winning Proposal 2: Bonding Curve Supply should be limited to 25M 20M https://snapshot.page/#/aavegotchi/proposal/QmPKm74Ba1TEreLzuF1cktY6Hdp5CvYThF12TziMpDaMMx

🥈 Second Place: Get Based

What this proposal lacks in specifics, it makes up for in upvotes. With over 1M GHST voting YES, it’s obvious there is a collab waiting to happen.

Winning Proposal: Based/Aavegotchi collaboration https://snapshot.page/#/aavegotchi/proposal/QmaehUL6FtxfZSrtracwS6eAenci27YLfmDG55fEFuwjcW

🥉 Third Place: Tat me, bro

With 616K GHST voting yes, this brave proposal comes in third place. Aavegotchi4Life! 👻.

Winning Proposal: Should I get an Aavegotchi-themed tattoo? https://snapshot.page/#/aavegotchi/proposal/QmbmgvsfMMK6gyYBCX6KaaY7WfEr9qKfnocMhSxbbu3rho

Shoutout to everyone who took the time to make a proposal. There were some awesome suggestions that we’ll definitely be using in the near future.

Like, the REALLY near future…👇

This week’s Mission: MEME Contest!

Who doesn’t love an old-fashioned meme contest??

Memes are the lifeblood of Aavegotchi, and we’re celebrating our 10th Community Update by unleashing the collective dankness of our wispy frens.

Before we introduce this week’s Mission, big shoutout to Aavegotchi community member Jalil_LMo7. According to legend, one night in a drunken haze, he registered the r/aavegotchi subreddit then vanished into the ether without a trace.

Then just yesterday, he re-appeared, bearing a gift: Mod permissions to r/aavegotchi. He could have been a meanie and tried to scalp us, but instead he was a Good Saamaritan.

Thank you, fren. Without you, today’s Meme Mission would not be possible.

This week’s Mission, if you choose to accept it:

  1. Navigate to and join the official Aavegotchi subreddit at https://reddit.com/r/aavegotchi
  2. Create a dank Aavegotchi meme featuring some aspect of Aavegotchi or GHST token. (Can be non-English)
  3. Post it in r/aavegotchi
  4. Upvote your favs
  5. Post a screenshot of your epic memesterpiece into mission-report8😂 to claim your Level Up!

The top 3 upvoted memes on October 9, 8PM SGT will receive 300, 200, and 100 GHST each, respectively.

Good luck, Aavegotchi Aagent!

(This message will not self-destruct in thirty seconds!)!

That’s it for this week’s community update!

Stay spooky fam,
Aavegotchi team

DeFi-enabled Crypto Collectibles Collect, compete, and combine your Aavegotchis for the ultimate gamified DeFi experience! Powered by @aaveaave.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store