BITSONIC’s Crypto School Part 9 — GHST(Aavegotchi) & Mir(Mirror Porotocol)
GHST(Aavegotchi) — NFT
What is Aavegotchi?
Aavegotchi is a sort of game that grows pixelated avatars like Tamagotchi. Users can interact with the Aavegotchi ecosystem by staking Non-Fungible Tokens (NFTs) with interest-generated aTokens. It is one of the early DApps that combines the DeFi ecosystem and NFT.
Aavegotchi’s avatar has the shape of a ghost, just the same as the Aave project’s symbol character. Their value is determined by the ghost’s traits, the amount of staked collateral(aToken), and the rarity level determined by the wearables.
What is GHST?
GHST is a DeFi-focused NFT that runs on the Aave protocol. It is used as a basic currency used to purchase various Aavegotchi assets on-chain. Aavegotchi assets consist of portals, wearables, consumables, and collectibles. GHST also has features that allow players to vote in staking and DAOs.
Unique Feature of GHST
GHST provides the economic incentives to encourage greater participation in the Aavegotchi ecosystem. Specifically, the token helps align the AavegotchiDAO, GHST holders, and Aavegotchi holders’ respective goals.
Players have to buy GHST and spend it in the process of summoning and training Aavegotchis. A portion of this is transferred directly back to the DAO to continue funding the ecosystem’s development. At the same time, part of the value is also distributed as rewards for wise governance in the DAO and rewards for engaging in rarity farming.
Binance Innovation Zone Listing Date : December 8
Total high : $0.88 (September 16)
Although not developed by the Aave team, the escrow contract address of aToken and ERC-20 series tokens supported by Aave, Spirit Force, was managed and created using Aave’s synthetic token technology. A joint AMA was also held in January.
With the recent rising prices of NFT tokens, it is quite attractive that it is an NFT token listed on Binance and Aave team, which is the 13th place in the market cap.
Need more info?
Website: https://www.aavegotchi.com/
MIR (Mirror Porotocol) — Defi
Upbit Luna Staking related Airdrop Payment Date : December 24
Bithumb Listing Date : December 29
Total high : $6.6 (February 2)
It is a Defi platform that supports farming by tokenizing stocks created by the Luna (Teraform) team. On January 26, Galaxy Digital of Novogratz led new funding, and Panthera Capital and Coinbase Ventures participated. MIR is expected to be listed on Binance and Coinbase in the future.
Mirror Protocol is a synthetic asset protocol that tokenizes U.S. stocks and ETF products for trading. It is also a decentralized platform created by the Luna team of Terra Protocol in Korea.
Within the Mirror Protocol, UST(a Tera blockchain-based dollar token) is used, and the assets issued within the Mirror Protocol are mAssets. The notation starts with m of the Mirror, and stocks and ETF products can be purchased with those. Anyone can issue a mAsset, but subject to a minimum collateral rate of 150%. The created synthetic asset, mAsset, is applied with a price oracle every 30 seconds to be fixed at the actual asset price. It can be traded on the Mirror Protocol’s decentralized exchange, Terraswap and Mirror Finance.
Need more info?
Website: https://eth.mirror.finance/
