Aavegotchi GHST Token Distribution Pre-Launch Primer 🚀
Lern: Everything you need to know about the upcoming $GHST token pre-sale and bonding curve distribution
Hello frens! We are only a few days away from opening the Aavegotchi GHST token pre-sale and subsequent bonding curve launch.
In lieu of this week’s community update, we’re publishing this piece, which contains all the details about the distribution, and a handy checklist to make sure you’re ready to go when the bonding curve opens.
Size: 500,000 GHST
Price: 0.1 DAI / GHST
Time Limit: 14 days (or whenever it is sold out)
Lockup: 12 months, with a 6 month vesting cliff, followed by drip-release that can be withdrawn
Who’s eligible: All Level 6 Aagents who have performed KYC
How it’ll work: A few hours before the launch of the presale, we’ll take a snapshot of all the Level 6 Aagents and cross-check them with those who have performed KYC. Then we’ll assign a special VERIFIED LEVEL 6 badge in the Discord to all eligible participants and create a special channel in Discord, where links to the presale will be posted.
However, due to the limited size of the presale, we cannot guarantee all VERIFIED LEVEL 6 participants will be able to buy GHST during the presale. We also recommend you do NOT attempt to buy the whole 500,000 GHST, as it is likely your transaction will revert.
Immediately following the conclusion of the presale, we will create a transaction to conclude the presale and open the bonding curve for trading. Full details about the bonding curve are below.
THE BONDING CURVE
Price: Opens at 0.2 DAI / GHST
Time limit: Forever
Lockup: None, tokens can be claimed from the curve once the batch finishes
Who’s eligible: Anyone who has participated in KYC and had their address whitelisted by the Aavegotchi team
How it’ll work: Once the presale ends, our frontend at https://aavegotchi.com/curve will activate and trading on the bonding curve will become available. In order to buy/sell from our frontend, your Ethereum address will need to be whitelisted by our team.
How to get whitelisted: Click the Perform KYC button after connecting your wallet. Submit your KYC and then fill out the Typeform that follows it. We’ll notify you once your address has been whitelisted.
Starting Friday you’ll also see a KYC Complete ✅ button under your wallet address once it’s been whitelisted (Mainnet only).
We recommend you begin doing your KYC now, well in advance of the bonding curve opening, in order to prevent delays.
Take action now to ensure a smooth ride on the bonding curve!
- Join the official Aavegotchi Discord if you haven’t already!
- Perform all of the Aagent Missions in the Aavegotchi Discord and reach Level 6 before the snapshot.
- Log onto the Aavegotchi Dapp and click the Perform KYC button to do KYC. (Unfortunately, due to securities and AML laws, American and Chinese citizens cannot participate 😢)
- Complete the Typeform that you’ll see after doing KYC. Didn’t see the Typeform? Contact @gldxnross in the Aavegotchi Discord to get the link.
- Acquire some Mainnet DAI. You’ll need that to buy into the curve.
- Sit back and wait for the announcement that the pre-sale and bonding curves are open!
GHST is launched as a DAICO — a DAO governed token sale, which means that the funds raised are managed by you, the community!
One of the key components of a DAICO is the “tap” mechanism — a special smart contract that drips money to a vault address, owned by the fundraising team (in this case, the Aavegotchi team). As a DAO, you have the power to vote onchain to raise or lower the tap and control the flow of funds to Aavegotchi.
Shortly after the bonding curve opens, we’ll also be setting up an off-chain signaling platform where community members can create proposals and vote on proposals they’d like the tap to fund.
Initially the tap will be set to 50,000 DAI per month, used to fund:
- Community proposals
- Growth and market development
- Aagent Missions rewards
- GHST airdrops and tipping
- (insert your aavesome idea here!)
This marks the beginning of AavegotchiDAO and a great opportunity for inspired individuals to get involved and make meaningful contributions. Let’s bring it in gang!
AavegotchiDAO 1.0 is just the beginning. Ultimately, we want Aavegotchi to be community-owned, and we’re currently exploring the tech stack where our DAO will live.
For us, the perfect DAO is:
- Cheap/free transactions
- Can interact with Mainnet smart contracts
We’re currently exploring solutions such as Matic, xDAI, and others to achieve this, and will keep you updated on our progress via our weekly community updates.
Sir, no mission this week??
We’ve opted to skip the Mission this week, to ensure a silky-smooth snapshot of all Aagent levels. Don’t worry, next week we’ll be back with a new, epic Mission!
That’s it for this week’s community update.
Stay spooky fam, and see you on the curve!