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Aavegotchi Prepares to Close GHST Bonding Curve and Allocating Internal DAI Reserves

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According to reports, Aavegotchi officially announced that with the successful adoption of AGIP64 and AGIP65 (note: these two votes are informal off-chain vote…

Aavegotchi Prepares to Close GHST Bonding Curve and Allocating Internal DAI Reserves

According to reports, Aavegotchi officially announced that with the successful adoption of AGIP64 and AGIP65 (note: these two votes are informal off-chain votes conducted in advance on the snapshot), it will launch a formal on-chain vote on Aragon on closing GHST Bonding Curve and allocating its internal DAI reserves.

Aavegotchi: The formal on-chain vote to close GHST Bonding Curve is expected to be launched on March 8

Interpretation of the news:


Aavegotchi, a project that combines DeFi yield farming with gaming, has announced that they will be conducting a formal on-chain vote on Aragon for the closure of GHST Bonding Curve, and allocation of its internal DAI reserves. This decision was made after the successful adoption of AGIP64 and AGIP65, which were informal off-chain votes conducted in advance on the snapshot.

Aavegotchi has been gradually gaining traction in the DeFi space since its launch in October 2020. In brief, Aavegotchi is a platform that combines the DeFi yield farming strategies with gaming elements, creating an ecosystem where players can earn rewards by competing against each other in mini-games while also contributing to governance decisions.

AGIP64 is a proposal to close the GHST Bonding Curve, which aims to stop inflation and create a more stable economy for Aavegotchi. The GHST Bonding Curve is a mechanism where the price of GHST tokens is determined by the amount of supply in circulation. As more tokens are added to the market, the price of GHST decreases, which creates an inflationary effect. To combat this inflation, Aavegotchi aims to close the GHST Bonding Curve, which will cap the total amount of GHST tokens in circulation and create a stable economy for the platform.

AGIP65 is a proposal to allocate Aavegotchi’s internal DAI reserves. This proposal aims to increase the platform’s liquidity and provide additional funding for development projects. By allocating its internal DAI reserves, Aavegotchi will be able to support new initiatives and yield farming strategies, which will attract more players and investors to the platform.

Overall, Aavegotchi’s decision to conduct a formal on-chain vote on Aragon for the closure of GHST Bonding Curve and allocation of its internal DAI reserves is a significant step for the platform. This decision demonstrates the project’s commitment to creating a sustainable ecosystem for its users and ensuring that the platform can continue to grow and attract new players and investors. As Aavegotchi continues to gain traction in the DeFi space, it will be interesting to see how these governance decisions shape the future of the platform.

In conclusion, the upcoming formal on-chain vote on Aragon is a crucial step for Aavegotchi, and it is expected to shape the future of the platform. By closing the GHST Bonding Curve and allocating its internal DAI reserves, Aavegotchi aims to create a stable economy and provide additional funding for development projects. As the platform continues to grow, it will be exciting to see how these decisions impact the ecosystem and attract new players and investors from the DeFi community.

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