Frens for amGHST

Frens! We are days away from something that many of us have been awaiting for a long time – GHST on Aave! This will provide another way for GHST holders to earn yield on their GHST, and will provide a new form of liquidity for GHST, allowing Aave users to borrow GHST. It has been proposed that Aavegotchi should allow stakers of GHST on Aave (who will receive amGHST) to stake their amGHST to earn frens. Otherwise it is unlikely that anyone will move their GHST over to Aave (as the APR from frens will be higher than that earned on Aave). Coderdan has indicated that this can be implemented without a full sigprop/coreprop (as this is not making any sort of change to game mechanics or spending user funds), but wanted to open this up to community discussion to gauge feedback. Thoughts? I will also be making a poll on Snapshot (not an XP-giving sigprop, but just a quick turnaround poll to gauge sentiment). Are there any other options we should include besides a binary yes/no for awarding frens to amGHST? The initial rate would start at 1 fren/day per amGHST, matching the current GHST staking rate.

21 Likes

Huge no-brainer to get this added imo.
Our AAVE frens are finally getting a taste of the gotchigang comfiness, let’s make their welcome a good one! :beverage_box:

5 Likes

My health factor was in the danger zone yesterday! Due to GHSTs strong position I unfortunately did the criminal act of unstaking my GHST and swapping it out for USDC to be used as collateral.

GHST comfiness is it’s strength. If its comfiness could translate over to Aave whilst simultaneously earning frens! :exploding_head: I could happily AFK crypto for all eternity

4 Likes

This is under discussion in the FRENS committee, and 1:1 is the proposed rate.

Remember FRENS rate is really based on benefit to the GHST price (not staker risk), and I (personally) think the effect is similar to single staking, except for the risk of liquidation cascades in the event of large market moves.

But even 0.9 FRENS per amGHST is probably too low considering the interest rates on AAVE, so I’m in favor of 1:1.

5 Likes

It’s a no-brainer in my opinion to add amGHST at a 1:1 ratio. Lets add as much value as we can to GHST holders by integrating DeFi building blocks. It fits our ethos as a DeFi RPG, benefits our users, and allows for continued innovation in the space. We should fully leverage our relationship with Aave, and FRENS for amGHST staking is a pivotal part of that.

7 Likes

Voicing my support for this,

there’s natural synergies between Aave and Aavegotchi and amGHST will provide aavegotchi users yield on top of their Frens earnings.

9 Likes

Totally agree. We can do double yield on aave and aavegotchi with this proposal

1 Like

Snapshot proposal: Snapshot

Did this not reach quorum so it won’t be implemented, or is there a plan to have a new coreprop vote?