What is the issuance amount of Aavegotchi (GHST) coins?

The total number of Aavegotchi (GHST) coins issued is 1,000,000,000, with approximately 600,000,000 GHST in circulation as of March 2023.

Dec 01, 2024 at 08:42 am

Delving into the Issuance Amount of Aavegotchi (GHST) Coins: A Comprehensive Overview

Introduction: Aavegotchi - Merging DeFi with Digital Collectibles

Aavegotchi is a unique and captivating blockchain-based game that seamlessly intertwines decentralized finance (DeFi) and digital collectibles. At its core, the game revolves around Aavegotchis, which are highly customizable and non-fungible tokens (NFTs) that represent adorable virtual pets living on the Ethereum blockchain. These avatars can be staked, used for in-game activities, and even rented or traded within the thriving Aavegotchi economy.

Issuance Amount of Aavegotchi (GHST) Coins

The native token of the Aavegotchi ecosystem is GHST, which serves as the primary currency for in-game transactions, governance, and rewards. The issuance amount of GHST coins is carefully controlled and plays a crucial role in maintaining the token's value and overall ecosystem health.

1. Initial Coin Offering (ICO)

• The initial coin offering (ICO) of GHST was conducted in November 2020, raising a total of $16.25 million.
• During the ICO, 100 million GHST tokens were issued, representing 10% of the total GHST supply.

2. Farming and Staking Rewards

• GHST tokens are also distributed through farming and staking mechanisms within the Aavegotchi ecosystem.
• Users who participate in these activities can earn rewards in the form of GHST, further increasing the token's circulation.

3. Game Revenue Allocation

• A portion of the revenue generated from Aavegotchi game activities, such as item sales and transaction fees, is allocated towards GHST issuance.
• This revenue is used to purchase GHST tokens from the secondary market and distribute them to active players, incentivizing participation and community growth.

Total GHST Coin Issuance

Total Issuance: 1,000,000,000 GHST

Circulating Supply (as of March 2023): Approximately 600,000,000 GHST

Remaining Supply (for future issuance): Approximately 400,000,000 GHST

Distribution of GHST Tokens

The distribution of GHST tokens is carefully structured to balance the interests of various stakeholders in the Aavegotchi ecosystem:

1. ICO Contributors:

• ICO contributors received 10% of the total GHST supply (100 million GHST) during the initial coin offering.

2. Team and Advisors:

• The Aavegotchi team and advisors hold a combined 10% of the total GHST supply (100 million GHST).

3. Community Development and Marketing:

• 10% of the total GHST supply (100 million GHST) is allocated for community development and marketing initiatives.

4. Ecosystem Fund:

• 50% of the total GHST supply (500 million GHST) is reserved for an ecosystem fund that supports the ongoing development and expansion of the Aavegotchi project.

5. Future Issuance:

• The remaining 20% of the total GHST supply (200 million GHST) is reserved for future issuance to support the long-term growth and sustainability of the Aavegotchi ecosystem.

Conclusion: GHST Coin Issuance - A Vital Component of the Aavegotchi Ecosystem

The issuance amount of Aavegotchi (GHST) coins is a crucial element that shapes the token's value, distribution, and the overall health of the Aavegotchi ecosystem. The carefully controlled issuance process ensures that GHST remains a valuable and sought-after asset while supporting the ongoing growth and development of the game. By carefully balancing the interests of different stakeholders, the Aavegotchi team has established a sustainable model for GHST issuance that supports the long-term success of the project and the thriving community of Aavegotchi enthusiasts.