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Phil Hall
Phil Hall
Jan 4, 2021
News

Aavegotchi Delayed and Moves to Matic Network

The decentralized finance digital game pet Aavegotchi was meant to release this Monday, but now announced a transfer to the Matic Network.
Aavegotchi Delayed and Moves to Matic Network

The decentralized finance digital game pet Aavegotchi was meant to release this Monday, but now announced a transfer to the Matic Network. Once again the gas fees on the Ethereum network are the reason for move, which obviously also comes with a delay. Aavegotchi will announce a new roadmap in the next few days.

"Frens, unfortunately due to insanely high gas costs and extreme volatility of the Ethereum network, we have decided to delay the launch of Portals", the developers wrote on their Discord channel. "You shouldn't have to pay $2 to pet your Aavegotchi."

Matic Network is a sidechain that's very useful for projects working with the Ethereum blockchain. Matic is completely compatible with the Ethereum Virtual Machine (EVM), and this makes moving to the Matic Network a fairly easy switch.

Aavegotchi on the Matic Network will come without any gas fees, faster transactions and the developers promise an improved gaming experience. Aavegotchi follows other projects like SkyWeaver, Neon District and MegaCryptoPolis.

How to get a cute ghost?

Users can acquire their own little Aavegotchi ghost by staking specific aTokens into their desired ghost. An aToken is a specific token on the Aave platform, and these earn interest thanks to the deposited crypto assets. Users can acquire aTokens on Uniswap or create some themselves through Aave.

They use a new NFT mining program that allows users to lock up their GHST tokens and earn game items. By staking GHST tokens users can earn FRENS points, which is the core if NFT mining in Aavegotchi. Users earn one point per 24 hours for every GHST token they are staking. Token holders can’t transfer their FRENS points. Instead they can only use them to acquire Aavegotchi Wearables raffle tickets.

What is Aavegotchi and how do I get one?

Aave is the Finnish word for ghost. An Aavegotchi is a cute little pixelated ghost that has several traits. First of all, there’s financial collateral backing the existence of the little ghost. In addition these ghosts have random traits, they can wear clothes and others items, and they come with a certain rarity level.

To acquire such a cute little ghost, you need to get familiar with the relative complexity of decentralized finance. To gain more understanding about this, please check out the official website.

With GHST Aavegotchi has a newly announced eco-governance token. Users can acquire GHST through Uniswap and other exchanges, or through the Aavegotchi platform. You buy GHST using DAI, and you need some Aave aTokens, like aDAI for example. Then you need to spend GHST to get a portal, which will give you a cute little Aavegotchi. Owners can use this little ghost in games, sell them for a profit or burn them to regain the money backing its existence.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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