Aavegotchi DAO proposes to close GHST joint curve to decouple GHST from DAI
On February 20, it was reported that Aave Ecological NFT Project Aavegotchi initiated a vote on the proposal to close the agreement Token GHST joint curve. The…
On February 20, it was reported that Aave Ecological NFT Project Aavegotchi initiated a vote on the proposal to close the agreement Token GHST joint curve. The proposal believes that after two years of development, Aavegotchi DAO has sufficient maturity and liquidity to meet the development of the project. Therefore, it is proposed to close the GHST joint curve, decouple GHST from DAI, fix its supply, and make GHST become a free circulation token.
Aavegotchi initiated a vote on the proposal to close the GHST joint curve
Interpretation of the news:
On February 20, Aave Ecological NFT Project Aavegotchi initiated a vote on the proposal to close the GHST joint curve agreement and decouple GHST from DAI. The proposal suggests that after two years of development, Aavegotchi DAO has matured enough and has adequate liquidity to facilitate the development of the project. Therefore, the GHST joint curve will be closed, and the GHST token will become a free circulating token with its supply fixed.
The Aavegotchi project, launched in 2020, is a decentralized finance (DeFi) game built on Ethereum. The project brings together NFT collectibles and yield farming, allowing players to stake GHST tokens and earn interest on them. Players can also compete in various mini-games to earn more GHST and increase the rarity of their NFTs.
The GHST token is currently linked to the DAI stablecoin, which constitutes the GHST joint curve. The joint curve determines the value of GHST in relation to DAI, and any change in DAI’s value affects GHST’s price. By decoupling GHST from DAI, the token will become free of the joint curve, and the price of GHST will no longer be influenced by changes in DAI’s value.
The proposal suggests that the maturity and liquidity of the Aavegotchi DAO are sufficient to support GHST as a free circulating token. A free circulating token means that GHST can be traded and exchanged on different platforms and can be used as a medium of exchange. It will not be restricted to the Aavegotchi ecosystem alone, and its value will be determined by market forces like demand and supply.
Overall, the proposal to close the GHST joint curve and decouple GHST from DAI is a significant development for the Aavegotchi project. It marks a new chapter in the evolution of Aavegotchi DAO, allowing it to develop and expand further. It also makes GHST more accessible and opens up new opportunities for GHST holders to trade and exchange the token beyond the Aavegotchi ecosystem.
In summary, the proposal aims to improve the value of GHST and make it more versatile. The move will also boost the overall adoption and growth of the Aavegotchi ecosystem.
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