Sep 29, 2020
Stake GHST, Make FRENS
Start earning exclusive Aavegotchi wearables by staking GHST
SIR, when bonding curve end?
SIR, wen binance?
SIR, wen GHST staking?
We get these three questions a lot, so let’s answer them real quick:
Sir, wen bonding curve end?
Never, the curve is forever.
Sir, wen binance?
That’s up to them, not us.
Sir, wen GHST staking?
Starting now.
That’s right frens, your GHST is about to be supercharged! 👻🚀🔥
We are excited to announce that GHST staking is live on Kovan testnet, as of right now. Sure we could have just deployed directly onto Mainnet without any testing, but we prefer to test in test.
Why staking? Why now?
Our team is working round the clock to bring you Aavegotchi on Mainnet, but we realize you want something now. And why shouldn’t you? Crypto is an exciting place, and you should be rewarded for supporting Aavegotchi so early on.
That’s why we’re launching this staking program, to enable YOU, our earliest of early adopters, to start earning exclusive Aavegotchi wearables tomorrow by staking your GHST today.
You’re early to the party, and you should have the swag to prove it.
(Don’t wanna stake? That’s fine too. You can still earn a full Aagent wearables set by participating in our Missions in the Discord).
Keep reading to learn how it all works.
How to stake GHST?
- Go to https://testnet.aavegotchi.com/stake and connect your wallet to the Kovan testnet.
- You’ll need some Kovan ETH from the faucet, and some Kovan GHST from Aavegotchi kGHST faucet.
- Click the “Stake on Kovan” button to start staking on Kovan.
- Click “Approve GHST” and confirm that transaction to allow your GHST to be staked.
- Once your GHST is approved, input the amount of GHST you’d like to stake and click the “Stake GHST” button. Confirm your transaction.
- Once your GHST has been staked, you’ll start seeing your FRENS balance going up in realtime.
- If you’d like to exit the staking contract, simply click “Withdraw GHST” and it will remove all of your staked GHST. Your FRENS points will remain.
For Mainnet, the steps will be the same, just head to https://aavegotchi.com/stake instead (Launching soon!)
What do I earn?
Each GHST staked will earn you 1 FRENS per 24 hours on Kovan/Mainnet. Soon we will be announcing a L2 pool with higher incentives.
What are FRENS?
FRENS are non-transferable points that live within the GHST staking contract. They may have more uses later, but for now their main purpose is to be redeemed for Aavegotchi Wearable Raffle tickets.
What can I do with my FRENS?
Your FRENS can be converted into transferable ERC1155 raffle tickets in the Aavegotchi Shop https://testnet.aavegotchi.com/shop . As Aavegotchi gets closer to launching on Mainnet, we’ll start doing weekly raffles for Wearable Vouchers of different rarity levels. These Vouchers will be redeemable for exclusive FRENS-only wearables in the Aavegotchi universe.
The order will look like this:
Stake GHST -> Earn FRENS -> Purchase Tickets -> Win Vouchers -> Convert Voucher into wearable in Aavegotchi
How much do raffle tickets cost?
There are six different raffle ticket types, one for each wearable rarity level.
- Common: 50 FRENS
- Uncommon: 250 FRENS
- Rare: 500 FRENS
- Legendary: 2500 FRENS
- Mythical: 10,000 FRENS
- Godlike: 50,000 FRENS
How many raffle tickets are there?
There’s no upper limit on the number of raffle tickets that can be minted for each category.
How many wearables will be given away?
Each raffle event will at least one giveaway of wearables of each rarity level
What if I only have a small amount of GHST? Is it even worth participating?
Just 1000 GHST staked over the next 50 days would give you enough FRENS to purchase a Godlike raffle ticket. Will it guarantee you a win? Definitely not. But at least you have a seat at the table.
We opted for a raffle model so that everyone has a chance to acquire raffle tickets, no matter their GHST holdings.
Wen Mainnet?
We’re still on schedule to release Aavegotchi on Mainnet in late Q4. Smart contracts take time to write and audit, so please be patient. As for staking, as long as no bugs are found in the staking and tickets code, you can expect staking on Mainnet within 1–2 weeks.
We’ll also be releasing the next dev update soon on Kovan testnet, so make sure you’ve got some portals!
Stay spooky fam,
Aavegotchi team
