Delphi Daily

Key points:

  • Aavegotchi is not an offical Aave project, rather a grant recipient after pitching a high-level idea for an Aave-themed game revolving around value-staked NFTs.

 

  • The one line pitch is to build “provably-rare DeFi-staked collectibles”.

 

  • The theme is quite amusing, it turns out that Aave means ghost in Finnish and these little characters are actually the ghosts of liquidated yield farmers.

 

  • Beyond the grant, the project has financed itself by selling its native token, GHST, in a private round, a pre-sale, and most recently the launch of its bonding curve.

 

  • The project weaves together aspects of DAOs, DeFi, and NFTs all into one. Unlike other projects, rarity is not fixed across the ecosystem. Rather, it is in constant dynamism keeping players on their toes and giving birth to their novel idea of “rarity farming”.

 

Aavegotchi anatomy:

To read this full report and get access to Delphi's research portal, become a member!

Subscribe Now