AAVEGOTCHI – Pioneering application in the field of Gamification for Blockchain

Tram Ho

AAVEGOTCHI is a NFTs game that emerged from a hackathon contest organized by Aave Protocol ( https://aave.com/ ), seemingly just a simple product with inexpensive pixel graphics, but it is proving. I will be one of the pioneers in defi gamification .

Introduce

  • First, we will explain about gamification : You can understand this is a term used for a new management trend, when real-life applications are included in the game to make it easy for users to learn, research to increase the performance of that application. And here Aavegotchi has brought gameization of defi ( aave ) applications to help users easier to use.
  • Aavegotchi was originally built on Ethereum but because gas costs are so high in recent times, developers have gradually moved to the Polygon network (Formerly Matic).

Token of Aavegotchi

Tokenomics

Like other Dapps, Aavegotchi has his own token, symbolized as GHST . However, this token, although it is an ERC20, has a completely different supply mechanism from other tokens, Link , Band , …

GHST is a type of dynamic supply, meaning there will be no limited number of GHST tokens that will be generated, so many people will question that will it cause GHST to inflate?

And that is the reason why the bonding curve was born: (Token Bonding curve is applied to public sale immediately after completing the initial privatesale round, and from now on, new tokens are born only thanks to bonding curve)

Token Bonding curve ( TBC ) is understood to cause the price of the token (GHST) to increase as the quantity supplied increases and decreases when the quantity supplied decreases. Understandably, if more people buy, the token value will increase and the early buyers will benefit the most.

The formula of Bonding curve :

Based on the above formula, ReverseTokenBalance will be DAI and ContinuousTokenSupply will be GHST

The percentage of GHGs of the ecotourism is 33%, so the pump up r dump down for the ecotourism is quite difficult.

Using GHST in Aavegotchi

To make it easy to understand, change to kovan and go straight here to try: https://testnet.aavegotchi.com/play

Currently, with my experience, I am using ecstasy for 3 purposes:

  • Buying Portals : These are the gates to be able to summon Gotchis (This is the spirit of the game, each person will have Gotchis – NFTs to feed to use in future games)
  • Buy wearables to power up Gotchi
  • Stake to generate FRENS to buy tickets for the lottery or sell tickets directly on opensea

Stake GHST

For GHST holders, instead of leaving it, they can stake GHST to generate FRENS (ERC20 but not able to trade). There are many ways to optimize the amount of FRENS produced:

The first with the Layer2 Polygon option, we can choose to stake on Ethereum or on Polygon (Matic), but to optimize the gas to pay, I recommend using Polygon, but we will have to swap GHST from Ethereum to Polygon via bridge:

The amount of FRENS generated per day will correspond to the amount of GHST we stake with both Ethereum and Polygon (Matic).

For further optimization we can provide liquidity for the 2 pools:

  • GHST – ETH on Uniswap
  • GHST – QUICK on Quickswap on mainnet polygon

And I am a simple person, I stake on Polygon:

NFT Gotchi

The Gotchis summoned from the purchase of the Portal will be NFTs, and these NFTs will be tied to AAVE lending tokens.

After purchasing the portal we will open to receive Gotchi, let’s get Gotchi which is said to be the rarest so we can farm GHST and join mini games to get more GHST:

Temporarily put aside the properties of Gotchi, this I will let you learn for yourself, the following will guide you how to summon this Gotchi:

  1. Determine the type of Gotchi: On the top of each Gotchi will be the symbol of the token that needs Stake to be able to summon Gotchi, the special thing here is the token stake.
  2. Get tokens to summon: To summon Gotchi we will have to use one of two types, aToken if used on Ethereum mainnet or maToken if used on Polygon (Matic). However, all will have to go from aToken, to get aToken we will have to Deposit on Aave and will receive corresponding aToken:
    • aToken is the amount of tokens that are minted after we Deposit into the AAVE platform. Example: After depositing DAI into Aave we will get a corresponding amount of aDAI . We can withdraw this amount of aDAI staked to AAVE at any time, however we will need this amount of aDAI to be able to summon DAI-type Gotchi.
    • This maToken is a token on layer2 Polygon (Matic), corresponding to 1: 1 mint from aToken to. We will have to mint through a bridge: https://aavegotchi.com/bridge
  3. Stake and Summon Gotchi: To be able to summon Gotchi we need to have a minimum amount of tokens required.

The game is currently in the Pre process, so there are not many minigames to attract players, but promises to be more interesting in the future.

Conclude

After we have finished summoning Gotchi, we have done quite a bit of action with the Defi apps:

  • Provide liquidity for uniswap and quickswap to get more FRENS
  • Use Bridge to swap tokens between 2 different chains from Ethereum to Polygon
  • Lending on AAVE takes aToken to summon Gotchi
  • Sell ​​NFTs on Opensea (use FRENS to buy tickets to open merchandise or sell tickets)

Thus, through a game we have affected the majority of use cases of Defi applications – a way to guide the general user in a non-rigid way.

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Source : Viblo