AavegotchiDAO vote quorums exceeded, Matic migration begins, and an alfa farming cheat sheet shared!
Welcome to the new years frens! Aavegotchis has been on fire this month, busy with our Matic Migration. AavegotchiDAO had two improvement proposals put forward a few days and, with only 8 hours remaining, the response has already been overwhelming, with the amount of votes reaching double the required quorum. Haats off to the #GotchiGang!
We’re also super excited to reveal a dedicated user interface for bridging GHST (and USDC) from Ethereum to Matic Network. This bridge experience is so easy… we daresay it’s enjoyable. Even “no-GHSTers” will wanna try it! Read on for all your bridging details as well as a cheat sheet to guide you through the upcoming tidal wave of yield farming incentives on Matic.
This week’s updates include:
- AGIP#2 and AGIP#3 votes smash quorum with 8hrs remaining!
- The “Gotchi Bridge” open for traffic!
- GHST staking contract to launch alongside bridge
- GHST-QUICK LP farming guide
- Localized Aavegotchi Telegrams Grow!
AavegotchiDAO Blasts Past Quorum Threshold 🚀
Two Aavegotchi Improvement Proposals are currently live on Aragon for on-chain voting. The first is AGIP#2, a proposal to add 0.3% fee for buy and sell orders on the GHST bonding curve. The other is AGIP#3, a proposal to increase the tap by 50k DAI / month for purchasing GHST to use as growth incentives. Both of these passed initial signaling via a Snapshot vote and are now being voted on by GHST token holders on the Aragon UI.
While both appear on track to pass with overwhelming support, the part we’re most excited about is the patience and tenacity of this community. This has been demonstrated throughout each step of the process, from the early discussions in Discord to the incredible speed at which quorum was achieved. Over 8% of all circulating GHST are required for an on-chain vote to have standing and it has been thrilling to see the quorum achieved within the first 24 hours of a total 72 hours voting window.
AavegotchiDAO continues to mature and demonstrate what a healthy, extremely engaged community looks like. Just imagine the power that’ll be unleashed when voting is FREE on Matic!
If you haven’t voted yet, make sure to do so. Each voting address will receive 250 XP per vote that goes toward all Aavegotchis summoned by that voting wallet during the February launch window. Visit https://wiki.aavegotchi.com/en/traits if you want to remind yourself why Aavegotchis earning XP is a very good thing.
8 hours remain and there’s no minimum of GHST required to earn that XP bonus, so do your part and be an active citizen!
Vrooom!! “The Gotchi Bridge” is Now Open!
One of the biggest stories of 2021 and crypto will undoubtedly be the increasing importance of Layer 2 solutions. Matic Network checks all the boxes as the fast, reliable and Ethereum compatible side-chain we seek. With it you can keep using MetaMask and continue rocking the ERC standards you know and love. And now you’re also able to shift value from one layer to another more easily than ever before!
We’re proud to unveil “The Gotchi Bridge”, an incredibly frenly user interface that makes you actually want to move value across.
The bridge is now open for GHST and USDC, to help supply liquidity for the GHST-USDC pair on Quickswap.
Visit Aavegotchi.com/bridge now to go for a spin!
(Once you’re on Matic, use this handy tutorial to get started trading!)
To be clear, this bridges your tokens via the same smart contract that Matic Network has already developed and long used. We are simply providing an interface that cuts out all the other wallet and staking functions available at wallet.matic.network and instead does one job very well: bridge tokens from Ethereum to Matic.
It turns out The Great Matic Migration is happening in style! Let’s cross the ebic blue bridge together in our brand new Aavegotchi Laambos!
NOTE: The Gotchi Bridge is currently a one-way bridge (whereas wallet.matic.network offers both directions). This is temporary and return functionality will be added in the near future.
Stake GHST, Make FRENS on Matic
Once you cross the bridge, you’ll find greener pastures of speed and virtually non-existent fees. You’ll discover fast-growing infrastructure like QuickSwap (a line-for-line fork of UniSwap) and, as of Wednesday 9am EST / 10pm SGT on January 20th, you’ll also find the GHST Staking Contract!
Once it’s live, you can get right back to making FRENS by staking GHST and the GHST-QUICK pair. You’ll earn on average 33% more FRENS per by staking GHST-QUICK! Raffles will continue to happen periodically on Matic after the launch.
The new Matic Staking UI is live on Aavegotchi.com/stake-matic! All of your FRENS and Raffle Tickets have been mirrored and will appear in your wallet on Matic.
Please note that after the migration happens, any Raffle Tickets on Ethereum Mainnet will not be eligible for future Raffles!
Note: Until the new Staked GHST-QUICK Rewards pool launches on Quickswap (est. January 29th) you will have to choose between staking GHST-QUICK tokens into the GHST Staking contract or into the GHST-QUICK LP rewards pool.
However, after the 29th you will be able to earn both QUICK and FRENS, by following the handy guide below!
This is what’s called a pro farmer move
Starting tomorrow, you’ll be able to make FRENS points via our GHST staking contract. This is good.
But starting January 29th, the serious migration incentives kick in with the ability to farm over 100k USD worth of GHST, MATIC, QUICK, and FRENS points too! We’ve provided this handy “cheetsheet” (sp) to make your life easy! Right-click and download it now. You’ll be glad you did.
Understand that these rewards only last from January 29-February 12. Two weeks of hefty harvests await, so study up and get your GHST and QUICK stacks ready if you intend to go the advanced route!
Korean, French and Spanish communities now live on telegram.
Our recently launched Aambassador’s program continues to grow with more languages and regions being added every week. Make sure to join these localized Telegram’s below if you have the communication chops!
Chinese 中文: https://t.me/aavegotchi_cn
Korean 아베고치 KR (공식): https://t.me/aavegotchi_kr
Vietnamese tiếng-việt: https://t.me/aavegotchi_vn
French (New!): https://t.me/aavegotchi_francophonie
Aavegotchi is Sponsoring MarketMake — An ETHGlobal Hackathon!
MarketMake just kicked off and Aavegotchi is already fielding interest from hackers looking to build on top of our protocol!
If you are interested, join our Discord and head to the #dev-chat channel to start hacking!
Developer Update — Removing the Blockers
The main blocker is bridging aTokens onto Matic. This blocker is now complete and the first aTokens have already been sent to Matic and returned successfully, with interest intact.
You heard it here first frens. DeFi is coming to Layer 2, and Aavegotchi is leading the charge!
Our other main blocker is waiting for Chainlink VRF to launch on Matic. However, the Chainlink team is confident that VRF will launch on Matic in January.
There is one more blocker, and that is OpenSea’s launch on Matic possibly being delayed. But we won’t let that stop us. We do have two of the world’s finest blockchain engineers on our team, after all… ;)
We will continue to update you as to the status of the Matic launch and hopefully have a final launch date announced soon.
In the meantime, enjoy exploring the brave new Matic landscape, and frictionless trading that Quickswap provides!
That’s all for this week’s Community Update fren!