Hope everyone has been enjoying the amazing gains this week as Bitcoin continues to hold above the 200-day moving average. Today we’ll be looking at a new and adventurous move into the blockchain gaming space called Aavegotchi.
Introduction
Aavegotchi are provably rare DeFi-staked NFT collectibles, powered by Aave and alive on the Ethereum blockchain. All Aavegotchis have three main attributes that determine their value and rarity within the Aavegotchi universe. These are collateral stake, traits, and wearables. Each Aavegotchi is minted as an ERC-721 NFT and manages an escrow contract address that holds an Aave-backed ERC20 collateral, or “aToken”. aTokens generate yield via Aave’s LendingPool, which increases the quantity of aTokens held in the wallet. Making the amount of aTokens held in the Aavegotchi’s escrow address grow over time. Aavegotchis own many traits that influence their rarity, their performance in mini-games, and the wearables they can equip. Some are generated randomly upon birth, and others depend on user interactions with the Aavegotchi. Rarity value is determined by calculating the rareness of each Aavegotchi’s traits and equipped wearables within the Aavegotchi universe.
Upon birth, every Aavegotchi is assigned several random trait values using the ChainLink VRF random number generator. Trait values are distributed on a bell-curve, and each trait is assigned a value of Common, Uncommon, Rare, Legendary, or Mythical, depending on its rarity. What’s not randomly decided is “Kinship”. Instead of random assignment Kinship starts at a fixed value upon birth and increases or decreases based on various factors, such as how long the Aavegotchi has been with the same owner, and how often the owner interacts with it. Aavegotchis “level up” as they gain more experience by voting in the Aavegotchi DAO and take part in mini-games. Every few levels, Aavegotchis receive one Spirit Point that can be allocated towards increasing or decreasing a certain trait. Besides managing the aToken escrow, Aavegotchis also extend the ERC-998 Composables standard, which allows them to manage child NFTs, known as wearables in the Aavegotchi ecosystem. But, not every wearable can be equipped by every Aavegotchi. Some wearables may be only equipped by Aavegotchis staked with certain collaterals, those of a certain level, or with certain traits. Some wearables can increase or decrease certain traits of an Aavegotchi. For example, equipping a sword may boost an Aavegotchi’s aggressiveness, whereas equipping a shirt may decrease its energy. What’s pretty neat is the intrinsic value is linked to the value of the Aavegotchi’s Spirit Force (staked collateral). If the Aavegotchi is staked with 10 aDAI, then the intrinsic value would be 10 aDAI, plus whatever extra aDAI has accrued from the Lending Pool.
All collectibles live in what’s called the “Aavegotchi Universe”. The Aavegotchi Universe encompasses all the elements that allow Aavegotchis to operate. This includes Portals, the $GHST utility token, Aavegotchi DAO, and the Aavegotchi Realm. Portals being the gateway between the Nether Realm of Aavegotchi and the Ether World of humans. To summon an Aavegotchi you must first acquire a Portal via the official Aavegotchi Dapp, or future external marketplaces. Within each Portal contains 10 variants of…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
