Aavegotchi Initiates Proposal to Close GHST Joint Curve

02/20/2023 04:39 • NFT Newsflash • 125 views

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

Interpret the above information:

The Aavegotchi, an ecological NFT project, has called for a vote to close the agreement Token GHST joint curve, as they propose to decouple the token from DAI and make it a free circulation token. The proposal highlights that after two years of development, the Aavegotchi DAO has sufficient maturity and liquidity to support such a move.

The GHST joint curve is a tool used to manage liquidity and stabilize the value of the GHST token. Typically, the price of GHST is determined by its supply and demand in the market. In this case, the GHST joint curve acts as a decentralized autonomous organization that manages the token’s value through the use of smart contracts. The GHST joint curve controls the token’s supply by creating or burning tokens based on demand.

However, the Aavegotchi DAO wants to decouple the token from DAI and make it a free circulation token. This means that the value of GHST would no longer be managed by the GHST joint curve, but instead solely by market forces such as supply and demand. The proposal suggests that the GHST joint curve is no longer needed since the project has reached a level of maturity and liquidity that allows it to withstand fluctuations without support.

The Aavegotchi DAO’s call for a vote on the proposal shows their confidence in the project’s current state and its ability to grow further independently. By decoupling the token from DAI, the GHST token would be able to trade more freely and potentially garner interest from a larger audience. However, this move also means that GHST’s value could become more volatile, and its price could see more dramatic fluctuations.

In conclusion, the Aavegotchi project’s decision to close down the GHST joint curve appears to be based on their confidence in the project’s maturity and liquidity. While decoupling GHST from DAI could lead to more freedom in the token’s trading market, it also comes with increased risk. It will be interesting to see how the vote concludes and what effect this proposal will have on the future of the Aavegotchi project.

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Aavegotchi Initiates Proposal to Close GHST Joint Curve

Aavegotchi initiated a vote on the proposal to close the GHST joint curve

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