Aavegotchi Improvement Proposals (AGIPs)

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Heya frens. Participating in Aavegotchi Improvement Proposals (AGIPs) are what responsible gotchis do! You need to vote and get your voices heard.

How far have we progressed as a community? Look at our archives of past votes here!

Psst! Claim your POAP Badges if you have voted on AGIPs before!

Supply ~3.5M Treasury DAI to Aave

Aavegotchi Improvement Proposal #105

Proposal Summary:

This proposal suggests allocating 3,549,809 DAI from the Aavegotchi DAO Treasury to the Aave V3 Ethereum Market. With an average supply APR of 4.34%, this move aims to generate an annual yield of approximately $154,061, enhancing the DAO's revenue through a stable, high-yield strategy. The proposal ensures over 500,000 DAI remains in the DAO's Polygon wallet for ongoing initiatives, while the rest of the DAI is strategically supplied to Aave. All supplied DAI comes from the 25% post curve closure Treasury Allocation.

Proposed Porfolio Composition Assuming AGIP 103 Passes

Proposed Portfolio USD Value

  • GHST (0.904) 15017760.91

  • USDC 3756276

  • Supplied DAI 3549809

  • Unsupplied DAI 2337064

  • ETH (not yet purchased) 3000000

Benefits:

  1. Passive Income: Leverages a stable, high-yield avenue for revenue generation without active management.

  2. Flexibility: Easy entry and exit strategies for the supplied positions, offering liquidity management benefits.

  3. Market Optimism: Positions the DAO to capitalize on the anticipated increased demand for stablecoins in an upcoming bull market.

  4. Diversification: Broadens the DAO's investment portfolio and protects our stablecoins against inflation by generating yield.

Risks:

  1. Platform Dependence: Relies heavily on the Aave ecosystem and the stability of its smart contracts, introducing platform-specific risks.

  2. Liquidity Constraints: Future proposals may require accessing funds from the supplied DAI if the Polygon treasury depletes, potentially affecting liquidity.

  3. Market Volatility: Exposure to market fluctuations could affect the APR and overall returns.

  4. Smart Contract Vulnerabilities: Despite Aave's track record, the risk of smart contract bugs or exploits remains inherent in DeFi protocols.

The proposal represents a balanced approach to revenue generation and risk management, aiming to strengthen the Aavegotchi DAO's financial position while maintaining operational flexibility.

Reference Material: Aavegotchi DAO Treasury Report

Details on the AGIP can be found here

Option 1: Yes. Supply DAI to Aave.

Option 2: No. Do not supply DAI to Aave.

Voting Period: 9 - 23 January 2024

Results:

OptionVotes
Yes. Supply DAI to Aave.6,900,000 GHST (68.32%)
No. Do not supply DAI to Aave.3,200,000 GHST (31.68%)

Link to vote on Snapshot


Aavegotchi x Sandbox Experience - Expansion & Maintenance

Aavegotchi Improvement Proposal #106

Proposal Summary:

This proposal of funding is to empower GFA to operate Pixelcraft lands and partnership for a limited and renewable 6 months duration with as follows duties :

1). Management of Project and Coordination

2). Partnership Management

  • Maintain channel of discussion with Sandbox officers like Sebastien Borget

  • Upgrades of Aavegotchi avatar collection in Sandbox

  • Aavegotchi Assets collection utility and highlight in game

3). Experience Updates

  • Management of Aavegotchi Parcels in Sandbox + Collect & analysis of InGame and Traffic datas with TheSandbox

  • Upgrades and modifications of experiences due to Sandbox New GameMaker and GameClient release (Forecasted Bi-Monthly for 0.9 minor versions) and specific events

  • Interaction in the Slack Technical support with Sandbox Team and ticketing system

4). Organisation and Strategy for future events

  • InGame contests / Social events

  • Maintain & highlight Aavegotchi in next mainstream Sandbox events like ie. alpha seasons / IRL events

Please note: the single player experience has been migrated to the latest 0.9.10 Gameclient version and is fully operative as covered!

The overall budget breakdown to achieve those tasks for the 6 months duration of this proposal is 29 460 DAI

Details on the AGIP can be found here

Option 1: Yes, fund

Option 2: No, do not fund

Voting Period: 6 - 20 February 2024

Results:

OptionVotes
Yes, fund9,500,000 GHST (81.14%)
No, do not fund2,200,000 GHST (18.86%)

Link to vote on Snapshot


Gotchi Battler - Prize Pool Funding

Aavegotchi Improvement Proposal #107

Proposal Summary:

IMPORTANT CHANGES FROM SIGPROP

Following lengthy discussions in the DAO, please note the following changes from the sigprop:

  • For Rarity Farming Season 8, Gotchi Battler will receive a 10% allocation of rewards, coming from the BRS leaderboard.

  • For Rarity Farming Season 9 and onwards, Gotchi Battler will receive a 20% allocation of rewards, coming from the BRS leaderboard, unless a Coreprop is passed that changes this allocation up or down.

Immaterial has also formally agreed to open-source the Gotchi Battler game logic after Season 8 completes so every battle can be verified after the fact but no advantages can be gained for Season 8 through building simulations. Then, from Season 9 onwards, more complexity/variations will be added so that simulations will be too computationally expensive to be worth it.

Hello frens,

We've been blown away and deeply humbled by all the enthusiasm and support for Gotchi Battler over the last few weeks. We're starting this proposal to deliver on the promise of evolving protocol rewards through the addition of Gotchi Battler as a staple of our Rarity Farming seasons going forward.

The proposed changes to Rarity Farming Rewards are:

Season 8

CategoryPrevious SplitNew Split
BRS70%60%
Gotchi Battler0%10%
Kinship20%20%
XP10%10%

Season 9 onwards

CategoryPrevious SplitNew Split
BRS70%50%
Gotchi Battler0%20%
Kinship20%20%
XP10%10%

In line with the original Gotchi Battler proposal AGIP 86 to gamify protocol rewards, we wish to reallocate 10% from the BRS leaderboard to Gotchi Battler Tournaments for season 8 and 20% from the BRS leaderboard for Season 9 and onwards. Gotchi Battler was designed with this exact purpose in mind to carry on the meta of the BRS leaderboard as much as possible whilst also providing a more engaging and competitive experience for players.

Details on the AGIP can be found here

Option 1: Yes, reallocate rewards to GB

Option 2: Do, don't include Gotchi Battler

Voting Period: 15 - 29 February 2024

Results:

OptionVotes
Yes, reallocate rewards to GB8,800,000 GHST (77.07%)
No, don't include Gotchi Battler2,600,000 GHST (22.93%)

Link to vote on Snapshot


Gotchi Battler V1.5 funding

Aavegotchi Improvement Proposal #108

Proposal Summary:

Just wanted to say thanks to the community for all the support given to Gotchi Battler so far. It has been a real privilege to see such a high amount of engagement/interest in the game and we've received a load of invaluable feedback from the community on how to improve going forward. This proposal is to fund the next version of the game which will bring improvements to:

  • Gameplay balance

  • Tournaments

  • Training

  • Lending

  • The Battle Replayer

You can see the full detailed list of improvements here.

The release schedule of this work will be April 2024, which will be in time to host a large Rarity Farming Tournament(s) for Season 8 at the beginning of May, if this gets confirmed by the DAO.

The total cost for this next version will be $120k, broken down as follows:

Eitri

  • Frontend development

  • 2 months @ $8k = $16k

Coinmandeer

  • Design

  • 1 month @ $8k = $8k

DeadFolk (2 people)

  • Unity development

  • 3 months @ $16k = $48k

Lavel

  • Balancing and Data Analysis

  • 2 months @ $8k = $16k

Immaterial

*Backend, infrastructure, QA, management

  • 3 months @ $8k = $24k

Expenses

  • Infrastructure, art, bounties

  • $8k

Total = $120k payable as DAI from the DAO Treasury

Payments:

  • 1st payment on passing of proposal: $68k

  • 2nd payment on completion of work: $52k

If you have any questions, head over to the DAO forum post linked below, and thank you, as always, for your support frens.

Details on the AGIP can be found here

Option 1: Yes, fund

Option 2: No, do not fund

Voting Period: 26 February - 11 March 2024

Results:

OptionVotes
Yes, fund9,800,000 GHST (84.75%)
No, do not fund1,800,000 GHST (15.25%)

Link to vote on Snapshot


Rarity Farming Season 8

Aavegotchi Improvement Proposal #109

Proposal Summary:

Per our three seasons a year schedule, it is now time to vote on Rarity Farming Season 8

The timing, funding, and configuration of Rarity Farming Season 8 shall be -

  • Start Date - March 16th 2:30 PM UTC

  • Total Rewards Allocated - 1.5 Million GHST from the player rewards wallet

Pool allocations per category -

  • BRS 60%

  • KIN 20%

  • XP 10%

  • Battler 10%

BRS/KIN/XP for top 7500 Gotchis (30% of total)

Battler details and anything not specifically covered in this proposal are to be confirmed later.

Option 1: YES - Make it so!

Option 2: NO - Do not want!

Voting Period: 6 - 12 March 2024

Results:

OptionVotes
YES - Make it so!10,000,000 GHST (96.21%)
NO - Do not want!409,000 GHST (3.79%)

Link to vote on Snapshot


Lend 600k GHST to improve liquidity and orderbooks on major CEXs

Aavegotchi Improvement Proposal #110

Proposal Summary:

New:

Please note the new specific KPIs and repayment strike prices documented in part 1 of the “Solution” section.

BACKGROUND

When the GHST Bonding Curve closed in early 2023, our governance token lost its deepest liquidity pool (paired with DAI). To prepare for the coming loss of this GHST/DAI pool, Pixelcraft Studios took it upon themselves to lend a total of 300k GHST to Skynet Trading, a liquidity solutions company, to bolster liquidity on major exchanges such as Binance and Coinbase.

Skynet Trading has successfully fulfilled its role as a market maker for GHST throughout 2023, consistently maintaining the most liquidity for GHST on Coinbase.

The loans that made this possible will soon expire but Skynet Trading is open to continuing to support GHST initiatives. I believe any future collaboration is something better suited to be executed by AavegotchiDAO.

Proposal

With the first year viewed as a sort of due diligence, I am now proposing that AavegotchiDAO replace Pixelcraft Studios with new loans to Skynet Trading, beginning with 600k GHST for 12 months explicitly to improve GHST’s liquidity on more centralized exchanges.

Skynet Trading is dedicated to providing trading services that aim to reduce slippage by narrowing spreads, increase the accessibility of GHST by focusing on spread and depth key performance indicators, encourage organic trading through the development of attractive order books, and minimize the impact of large market orders. Whereas last year’s focus was primarily on Coinbase, a 600k-sized loan makes it possible for Skynet Trading to also provide liquidity on Binance, OKX, and HTX respectively.

The Problem: Poor liquidity on CEXs.

The screenshot from coinmarketcap (Feb 9, 2024) illustrates the poor liquidity of GHST on exchanges. Most GHST pairs suffer from significantly thin books. This means GHST is inaccessible to people seeking medium to large allocations on most exchanges. Working with Skynet to improve liquidity across exchanges is a strategic move to foster a better trading environment for all participants interested in GHST tokens.

Solution:

PART I: Loan Terms and Goals

This proposal is for AavegotchiDAO to lend 600k GHST to Skynet Trading for a 12 month term. The loaned GHST shall be used as liquidity provisions across four exchanges: Coinbase, Binance, OKX, and Huobi.

Skynet Trading’s terms impose no retainer fee, no setup fee, or trading fees.

Newly Published KPIs and Strike Price Formula:

Tight spreads: No greater than 50 bps.

Deep order books: Minimum of 25 orders on both sides of the book. 10k USDT across

Repayment strike price:

-300k tokens @TWAP7 from start

-150k tokens @TWAP7 from 3 months into the agreement

-150k tokens @TWAP7 from 6 months into the agreement

  • The exact strike price formula was not included in the Sigprop but are now revealed per requests from DAO members and Skynet obliged. I can confirm the team has agreed to add the 3 and 6 month out terms in light of our concerns about frontloading all strike prices near the beginning of this potentially bullish year. At the end of the 12 month term, Skynet Trading will have the option to A) return the 600k GHST to AavegotchiDAO or B) purchase the GHST at the strike prices as defined in this proposal.

PART II: Responsibilities

The second part of this proposal defines the relationship between AavegotchiDAO and Skynet Trading and who executes which responsibilities. The solution offered is the creation of a Liquidity Management Task Force (LMTF).

The Signer shall be a current director from Aavegotchi DAO Foundation willing to sign the contract between Skynet Lending and the Aavegotchi DAO Foundation. The Signer must be willing to KYC by providing liveness check and passport scans.

The Primary Point of Contact (PPC) shall be the leadership team at Pixelcraft Studios. They shall continue to maintain daily contact between the two main parties and always advocate for the best interests of AavegotchiDAO and the spirit of this proposal. There is an existing communication channel between Pixelcraft Studios and Skynet Lending that will continue to serve as the main comms channel throughout this contract’s term. The PPC shall attend weekly DAO meetings when summoned and answer any questions raised by DAO members at those meetings. The PPC role can be transferred from Pixelcraft leadership to another party at any time via a DAO Role Change Vote (DRCV).

The process is simple. Any DAO member can create a Motion to Change Roles and then make the case via a snapshot vote. If the voting power in favor of the motion exceeds 9 million, the role shall be changed. This threshold is high enough to discourage any practical attack vectors yet completely within the realm of possibility if the will to enact is widely supported by DAO participants.

PART III: Order of Operations

The 600,000 value of GHST will come from the DAO’s Liquidity Wallet (Polygon: 0x62DE034b1A69eF853c9d0D8a33D26DF5cF26682E). The Liquidity Wallet currently holds no GHST but still has roughly 2.3M USD of stablecoins, so we shall use the autoswappper contract developed in AGIP 69 to buy these 600,000 GHST.

Steps:

1: Directors shall send 700K USDC to the autoswapper contract.

2: Set the autoswapper’s buy amount to 6500 USDC and the buy interval to 2 Hours.

3: Execute the autoswapper. It shall accumulate 600k GHST in roughly 8 days.

3.1: IF 700k USDC is not enough to purchase 600k GHST, the Directors shall calculate how much additional USDC is required and send those funds to the autoswapper contract as well. Their discretion is enough for up to an additional 100k USDC required, but anything beyond that will require unanimous approval during a weekly DAO meeting. Even one dissenting vote (expressed by emojis in Discord) during that meeting would render additional funds unobtainable.

3.2: Any GHST accumulated beyond the required 600k shall remain on the Liquidity Wallet’s balances until the DAO decides some further actions for those funds.

4: Skynet Trading presents the final executable contract to the Signer for review.

5: If both the Signer finds the contract agreeable, the Signer shall sign.

5.1 If the Signer finds details in the contract not aligning with our CoreProp, the Signer shall not sign and instead the process will revert back to negotiations between all parties.

6: After signing, the Directors shall transfer 600k GHST to a wallet provided by Skynet Trading.

7: The Primary Point of Contact shall begin interfacing with Skynet Trading to confirm receipt of the 600k GHST and the beginning of executing liquidity support across four exchanges.

8: Skynet Trading shall provide a monthly report to the Primary Point of Contact who shall, in turn, share this report during the next weekly DAO call.

9: This process shall continue throughout the 12 month term of the contract.

10: Nearing the conclusion of the contract, Skynet Trading and the DAO can signal to each other whether or not each party wishes to re-engage for another agreement or not.

Risks

I believe that the loan to Skynet Trading presents minimal risk, given the company's financial stability and reputation in the industry.

Although Skynet Trading utilizes Fireblocks for institutional-grade custody solutions, risks associated with exchanges such as Coinbase, Binance, HTX, and OKX remain present. It is important to note that Skynet Trading does not bear liability for any risks or losses incurred due to the operational aspects of these exchanges.

While not a direct risk, it is prudent to acknowledge the possibility of ‘seller’s remorse’ should GHST values significantly surpass the contract’s strike prices within the next 12 months. The strike prices, set as either premiums or averages of future market rates, are designed to align the interests of both parties. Both parties must enter this agreement with a comprehensive understanding of the associated risks.

Benefits

The benefits and reasoning for this are already well fleshed out above but to briefly review: Improving liquidity on at least three additional exchanges improves the trading efficiency of the token.

Maturing the relationship with an industry-leading company like Skynet Trading may also lead to indirect benefits such as introductions to more exchanges and more opportunities for future loans related to on-chain DEX support and even perps markets (Skynet Trading is open to advocating for GHST perps and can make introductions).

Conclusion

For the benefits noted above, I am proposing that now is the time for AavegotchiDAO to engage with Skynet Trading to improve the currently weak state of GHST liquidity on most of its current listed exchanges.

VOTE:

Should AavegotchiDAO provide a 600k GHST loan to Skynet Trading for 12 months?

Details on the AGIP can be found here

Option 1: Yes, let's lend tokens to Skynet

Option 2: No, don't lend tokens to Skynet

Voting Period: 8 - 21 March 2024

Results:

OptionVotes
Yes, let's lend tokens to Skynet5,900,000 GHST (50.26%)
No, don't lend tokens to Skynet5,900,000 GHST (49.74%)

Link to vote on Snapshot


Staking 350 ETH with Lido and Acquiring rETH

Aavegotchi Improvement Proposal #111

Proposal Summary:

This proposal aims to enhance the Aavegotchi DAO's treasury management through strategic staking, with a dual focus on accruing additional yield and increasing our Ethereum (ETH) holdings. We propose to engage in ETH staking through two prominent protocols, Lido and Rocket Pool, to achieve this objective.

Details of the Proposal:

  1. Staking with Lido: We propose to stake 350 ETH directly with the Lido protocol. Lido currently offers an estimated yield of 3.7% per annum.

  2. Acquiring rETH via Cowswap: Concurrently, we propose to swap an additional 350 ETH for Rocket Pool's rETH using Cowswap. Rocket Pool's yield is approximately 2.94% per annum.

  3. Expected Returns: By adopting this strategy, we anticipate an annual yield of approximately 23.24 ETH, equating to a value of $70,000, based on the current ETH valuation of $3,000 per unit.

  4. Risk Management: This approach also involves splitting our smart contract risk between Lido and Rocket Pool, the two largest entities in the ETH staking ecosystem. This strategy aims to balance the pursuit of optimal yield (via Lido) with robust participation in the Ethereum ecosystem (via Rocket Pool).

  5. Remaining Treasury Funds: Following this allocation, 537.96 ETH will remain unallocated within our treasury, available for other strategic initiatives or active management.

Context and Financial Overview:

  • The Aavegotchi DAO presently holds 1237.96 ETH, acquired for $3,000,000 as per AGIP 103.

  • The current market value of this holding is approximately $3.7 million, representing an unrealized gain of $700,000 since the approval of the core proposal on January 2, 2024.

  • For transparency and ongoing monitoring, the DAO's treasury wallet is accessible at: https://debank.com/profile/0x53c3CA81EA03001a350166D2Cc0fcd9d4c1b7B62.

Conclusion:

This proposal is crafted with a view to optimize the Aavegotchi DAO's asset management, leveraging the potential of ETH staking for yield generation, while maintaining a balanced and risk-aware approach.

Details on the AGIP can be found here

Option 1: Yes. Stake w/ Lido and buy rETH

Option 2: No. Don't stake or buy rETH

Voting Period: 8 - 21 March 2024

Results:

OptionVotes
Yes. Stake w/ Lido and buy rETH8,800,000 GHST (76.33%)
No. Don't stake or buy rETH2,700,000 GHST (23.67%)

Link to vote on Snapshot


Establishing an ETH Sell Ladder

Aavegotchi Improvement Proposal #112

Proposal Summary:

This proposal is designed to strategically manage the Aavegotchi DAO's Ethereum (ETH) holdings by establishing a structured sell ladder. The aim is to maximize returns while mitigating the impacts of market volatility and psychology.

Details of the Sell Ladder Proposal:

  1. First Tranche: Sell 300 ETH in two equal parts within 24 hours if ETH valuation exceeds $8,000 per unit.

  2. Second Tranche: Sell another 300 ETH in two equal parts within 24 hours at any ETH valuation above $10,000 per unit.

  3. Third Tranche: Sell 300 ETH in three equal parts within 24 hours if ETH valuation surpasses $12,000 per unit.

  4. Fourth Tranche: Sell 300 ETH in three equal parts within 24 hours at any ETH valuation exceeding $15,000 per unit.

Execution Strategy:

• The sale of ETH should follow a specific order from the DAO's Ethereum treasury wallet:

• Begin with unstaked ETH.

• Proceed to rETH.

• If necessary, unstake stETH and sell the resulting ETH.

• All sold ETH will be exchanged for USDC (USD Coin).

• The acquired USDC will then be supplied to Aave, which currently offers over 1 billion USD in capacity.

Rationale and Transparency:

• This structured approach aims to provide clarity and predictability to DAO participants and investors.

• It helps in minimizing the influence of market psychology and speculative behavior, especially in a bullish market scenario.

• Assuming ETH reaches a valuation greater than $15,000 per unit, this strategy positions the Aavegotchi DAO to accumulate approximately $13.5 million in USDC, significantly enhancing returns on the initial $3 million investment in ETH.

Conclusion:

The proposed ETH sell ladder is a prudent financial strategy, offering the Aavegotchi DAO a methodical and transparent approach to realizing gains. It ensures that the DAO's assets are managed in a way that is both strategically sound and aligned with the interests of all stakeholders.

Details on the AGIP can be found here

Option 1: Yes. Establish this sell ladder.

Option 2: No. Don't establish it.

Voting Period: 8 - 21 March 2024

Results:

OptionVotes
Yes. Establish this sell ladder.11,000,000 GHST (92.24%)
No. Don't establish it.888,000 GHST (7.76%)

Link to vote on Snapshot


Gas Fee Reimbursement for DAO Directors

Aavegotchi Improvement Proposal #113

Proposal Summary:

Hello friends !

As we all know, executing transactions on the Ethereum blockchain comes with a cost, and these expenses can become a significant barrier to active participation.

In our collective journey towards better decentralized governance, it has come to our attention that gas fees can potentially hinder the smooth execution of transactions and introduce unintended competition among directors for transaction signing.

This proposal seeks to address this issue by giving 0.1 eth and 10 matic to each signer address for these essential transactions. When empty, directors can ask for a refill.

Signer addresses:

  • 0x92B908c078D8f8a2271b1EE7cFf583405618771B

  • 0x61Cec7155ffF2EcbcC28eEdd16b055794929fBBa

  • 0x251B594d2f6fAFA9903E0aE61186cA0B14F3aD29

  • 0xd0De01420788632a9d2286eeBDf4f0CeA88187B7

  • 0xa2D623315C16ACCb86B0E15A2B385A43A4032F79

  • 0xe1Da02bAD2E6a1c931b0C4f41006138De6dC2Aa0

  • 0x7a002eCfB15bfad105ecdD60022D747A19Df252c

  • 0xc6055aeE74Ca070BbAf93d1C3C92843512E41987

  • 0x0F469AF9E3d7402e9d5990AFD9B97ca9924a1231

(Note : The directors will only use this gas to sign DAO TXs.)

(Note 2 : The directors will give back the remaining funds use for gas in case directors step down from their roles.)

(Note 3 "Retroactive gas reimbursement" : to be more equitable, the directors will be able to claim the funds used for transaction expenses that were funded by themselves before the date of the approval of this vote as core proposal.)

Details on the AGIP can be found here

Option 1: Yes, I agree

Option 2: No

Voting Period: 8 - 21 March 2024

Results:

OptionVotes
Yes, I agree10,000,000 GHST (92.61%)
No826,000 GHST (7.39%)

Link to vote on Snapshot


Strategotchi V2.0 & Voxel Unity SDK funding

Aavegotchi Improvement Proposal #114

Proposal Summary:

With the overwhelmingly positive feedback on our proof-of-concept, my team and I are eager to embark on the next iteration of Strategotchi, version 2.0 - Multiplayer. This update brings a plethora of enhancements, focusing on Gotchi and weapon utility, gameplay depth, and the introduction of multiplayer infrastructure in a new game mode, Teams.

This proposal is to obtain funding for the development of Strategotchi V2.0 as outlined in the following document, as well as delivery of a FULL Voxel art Unity SDK.

R0ADMAP

https://docs.google.com/document/d/1-fvn5ITST2s469GxRpUsBT5MX_r3IuIGWhbadIsZ1r4

(Note that the proposal does not include delivery of versions 2.1 - 2.4)

COST & DELIVERABLES

We are seeking 197,000 aDAI and 10,000 GHST, paid in 2 installments, for the delivery of:

  • A full Unity SDK featuring all of our assets and animations

  • 3D modeling and rigging of over 300 wearables and gotchi types in our unique voxel style. This deliverable lays the groundwork for a unity SDK that we will make available for other developers.

  • Full blockchain integration of all gotchis and wearables. Players will be able to play with their own unique gotchis.

  • Full Utility for over 30 weapons, each with unique effects, animations and 5 unique targeting systems. Players will be able to equip 2 weapons per gotchi.

  • Gotchi trait mapping & class perks. 12 unique perks. Gotchis can earn up to 6 perks (1 for each godlike trait)

  • New multiplayer co-op game mode: Teams. In this mode players will team up with frens, working together to hit harvest targets and defend them from enemies.

  • V2 web dapp with new features including a weapons library with interactive 3d previews.

  • An in-game tutorial

  • Improved GUI & UX

  • Improved targeting and push indicators. Players will be able to assess the effects of their weapons at a glance.

  • New and improved sound design, including music and SFX. We will be introducing more lickquidator taunts as well as gotchi cheers.

  • Multiple bug fixes, QOL improvements, and better optimization

WEAPONS DETAILS

A detailed list of all wearables effects can be found in this document:

https://docs.google.com/document/d/1RODcNTaSORhQvd2DLqS18YdcBuf0Gd_wOLuRTFFRlC8

REVENUE PROJECTIONS

This document outlines future monetization mechanisms and our proposed allocations:

https://docs.google.com/document/d/1BNbeGTrk8N7qiRrM1gqLjcVdeKE8WbYV8E75AgJf_p4

TEAM:

Laggin:

  • Proficient in product design, branding, and visual communication.

  • Experienced game designer, contributing to multiple top-rated mobile games in the MENA region.

  • Internationally recognized artist, exhibited at prestigious galleries like the Saatchi Gallery, London.

  • OG member of the Aavegotchi community, deeply familiar with the protocol, contributing to a multitude of projects within the ecosystem.

Nomichamp:

  • Full stack game developer with extensive experience.

  • Successfully operated indie game development studio, focusing on hyper casual games.

  • Produced multiple successful titles across various platforms.

Fase:

  • Experienced music producer, proficient in all aspects of audio design

  • Experience in marketing, project management, and community building

  • Creator of multiple web 3.0 music projects and collaborations

  • Involved community member, collaborating on a multitude of projects in the ecosystem and beyond

COST BREAKDOWN:

In-house work: 147,000 aDAI

  • Game Design, PM, Design Lead, 3D modeling, UI/UX, Unity front end: 90k

  • Lead Dev: 50k

  • Sound design, social media management: 7k

Outsourced work: 50,000 aDAI

  • Additional Unity dev: 20k

  • Rigging and animation: 20k

  • Web developer: 5k

  • Artwork: 3k

  • Infrastructure and tools: 2k

Community: 10,000 GHST

  • Marketing

  • Promotion

  • Play testing

  • Bounties

DELIVERY & PAYMENT MILESTONES:

Milestone 1: Passing of core prop

Payment of 107,000 aDAI + 10,000 GHST

Milestone 2: Wearables showcase (April 2024)

A showcase of our progress modeling a large portion of the wearables. We will present images of dozens of the new designs as well in-game footage of some of the new weapons in action. We will release a small number of new weapons on the public build for the community to test out and give us feedback on.

Milestone 3: Weapons Utility showcase (May 2024)

The addition of a large number of weapons and wearables into our public build. Integration of blockchain assets into the game. Players will be able to use their own gotchis in single player mode. Gotchis will now have unique stats and most of the perks implemented. Each gotchi will look and feel unique, giving players a feel for the levels of customization to come.

Milestone 4: Multiplayer showcase (June 2024)

Playable multiplayer mode with MVP versions of all new features. Players will now be able to try the new co-op mode, playing with their own weapons and gotchis, with unique perks and stats. At this stage some weapons may still have generic effects/animations. Introduction of new SFX including gotchi cheers. Improvements to GUI & UX. We will be overhauling the UI to accommodate multiplayer mode.

Milestone 5: Completion of all content (July 2024)

completion of all weapons utility and wearables, including animations and effects. Players will be able to experience the full utility of weapons and perks in both single and multiplayer modes. Delivery of an improved system for targeting and knock-back indicators. Players will be able to assess the effects of their weapons at a glance under the new system.

Milestone 6: All deliverables polished and shipped (August 2024)

Payment of 90,000 aDAI Completion of all listed deliverables, fully polished. All wearables are fully modeled and rigged. All weapon utility completed. All gotchi traits and class perks implemented. Multiplayer teams mode polished. In-game tutorial. Updated webb dapp including a full weapons library with interactive 3D models, as well as all stats and information about the weapons. Bug fixes and multiple QOL improvements including UX/UI enhancements. We will be streamlining the user interface to be more intuitive as well as adding more user feedbacks such as sounds and UI animations to help guide the player for a smoother experience. Enhanced optimization for webGL performance.

Details on the AGIP can be found here

Option 1: Yes! Fund it.

Option 2: No. Don't fund.

Voting Period: 2 - 16 April 2024

Results:

OptionVotes
Yes! Fund it.9,600,000 GHST (85.65%)
No. Don't fund.1,600,000 GHST (14.35%)

Link to vote on Snapshot


FAKEwaar Continuing Development Fund

Aavegotchi Improvement Proposal #115

Proposal Summary:

Do you hear the drums of waar, fren? It's time to find out who's FAKE strength is real. This adaptation of classic war card combat + 3-in-a-row, utilizing FAKEgotchis with a custom dynamic numerical model, enables deterministic gameplay with the existing asset library of FAKEgotchi NFTs.

Whitepaper

https://gmifrens.gitbook.io/fakewaar-whitepaper

Current Gameplay

Two players, 1v1, 9 cards randomly selected from the FAKEgotchiDEX. High card wins. Winner is able to place their winning card on the battle board. Players are able to overtake an already placed card on the battle board if their card has a higher FAKE strength. Three in a row placed on the battle board provides additional bonus points at final score.

Target Audience

FAKEwaar is designed to provide a lightweight, casual, replayable gamification layer to the existing FAKEgotchi assets. It is meant for creators, collectors and everyone else who has yet to discover the cultural heartbeat of Aavegotchi: FAKEgotchis!

Platform

FAKEwaar is built in Unity with native networking. While a web hosted version is the primary focus, we will also be working hard to support ANDROID mobile users. Probably iOS as well.

Request for Continuing Development Support

V1 as presented during the March 30th, 2024 DAO call has been developed independently by GMI Game Labs. We humbly request additional support from the Aavegotchi DAO based on the demonstrated capabilities and potential of the V1 playable proof of concept.

Timeline

Upon approval and receipt of the requested continuing development fund, FAKEwaar V2 would be planned for a three month development timeline. This fund would allow GMI Game Labs to put full time effort into this development and we fully anticipate fulfilling or even beating this timeline. A full overview of V2 implementations can be found in the FAKEwaar Whitepaper.

Requested Funding

Total Cost: 18K USD

Breakdown:

  • 6K - Unity Development & Project Management by Mycaleum

  • 6K - Website, Smart Contract and Technical Support by User Default

  • 6K - Creative leadership of asset and art generation by Kravitch

Upon approval, we request $18k USD equivalent in stablecoins (USDC/USDT/DAI) to be transferred to the GMI Multisig Treasury on Polygon PoS at: 0x376184461aaa5Bd445cd52924Fdf29e8E4b86900

In the event the DAO does not have on-hand stablecoin liquidity on Polygon PoS to fulfill this disbursement, we request an appropriate amount of $GHST tokens be swapped in order to provide this stablecoin liquidity in full.

Details on the AGIP can be found here

Option 1: Fund FAKEwaar!

Option 2: Do not fund FAKEwaar...

Voting Period: 11 - 21 April 2024

Results:

OptionVotes
Fund FAKEwaar!7,200,000 GHST (70.66%)
Do not fund FAKEwaar...3,000,000 GHST (29.34%)

Link to vote on Snapshot


Elected Facilitators for DAO Meetings

Aavegotchi Improvement Proposal #116

Proposal Summary:

This proposal aims to provide guidelines for nominating and compensating accountable DAO members to collect DAO feedback, build meeting agenda's and to host the Saturday DAO call.

This proposal outlines job dimensions, as well as a compensation structure for 4 elected DAO members to fulfill.

Job Dimensions:

  • Meeting Preparation and Organization:

  • Work with DAO members to allocate time slots for presentations and discussions for each speaker.

Facilitation/Moderation:

  • Steer discussions towards productive outcomes, ensuring active engagement while managing time efficiently.

Decision-Making Support:

  • Provide clarity on proposals, including their goals and potential impact. Gather and communicate feedback to forum operators.

Communication and Follow-Up:

  • Deliver succinct summaries of discussions, decisions, and action items. Monitor progress on agreed-upon tasks.

Conflict Resolution:

  • Serve as an impartial mediator to resolve disputes and disagreements during discussions.

Innovation Promotion:

  • Promote the exploration of innovative ideas, tools, and practices to improve our governance process.

Commitment:

  • The role requires 6-10 hours of preparation weekly, including a one-hour DAO call every Saturday at 3pm UTC.

  • If the role is split (in this case amongst 4 members) the commitment will also be split equally. 4 members taking on this role would take one week each in this case.

  • Important to note this is usually a week long ongoing effort + Saturday Call.

Term length:

  • 6 Months with an option to re-elect a member at 3 months should they step down or cannot fulfill the role adequately.

Compensation:

  • 500 USD, per month, per member

  • Total of 2000 USD in GHST for 4 Members, payed at the end of the month

Many have stepped up to nominate as well as those I have spoken to myself.

Following the passing of the proposal I suggest we hold a soft election off-chain to appoint actively participating members.

I am deeply grateful for serving in this position for the last 3 Years, and look forward to the evolution of our roster!

Details on the AGIP can be found here.

Option 1: Fund DAO Meetings

Option 2: Do not fund

Voting Period: 19 April - 3 May 2024

Results:

OptionVotes
Fund DAO Meetings8,700,000 GHST (76.99%)
Do not fund2,600,000 GHST (23.01%)

Link to vote on Snapshot


Custom IRL Aavegotchi Physical Arcade Machine

Aavegotchi Improvement Proposal #117

Proposal Summary:

This proposal outlines the development of an Aavegotchi web3 physical arcade machine, leveraging the Aavegotchi ecosystem and current available titles through a custom Aavegotchi Gaming OS and integration with GotchiChain. This machine aims to provide an immersive gaming experience, bridging the digital and physical worlds, with a portion of the budget allocated to design contest rewards to foster community engagement and creativity.

Project Objectives:

  • To develop a unique, customizable, blockchain-enabled arcade machine for the Aavegotchi gaming protocol.

  • To serve as the IRL public interface to the Aavegotchi gaming protocol.

  • To engage the gaming community at events, function as a standalone entertainment unit located regionally, or be distributed as a collector's item.

  • To utilize RFID and QR Code technology for seamless interaction with the blockchain, enabling easy transaction signing and user authentication.

Software:

  • Aavegotchi Gaming OS

  • Custom overlay application tailored for arcade gaming, with native support for GotchiChain.

  • User-friendly interface designed for ease of use in an arcade setting.

  • Enhanced security features to ensure safe and secure blockchain interactions.

Hardware Specifications:

  • High-performance gaming single-board computers (SBCs) or full size ATX to handle advanced gaming and blockchain operations.

  • Vibrant high-resolution displays optimized for gaming graphics and user interaction.

  • Durable and responsive arcade controls for an authentic gaming experience along with traditional keyboard and mouse access.

  • RFID sensors and QR Code integration for user authentication and blockchain transactions.

  • Custom-designed arcade cabinets featuring Aavegotchi branding and aesthetics.

Development Roadmap and Budget Estimation:

Design Phase: 8-12 weeks timeline.

  • Conceptualization, software/hardware specification, initial design, and design contest.

  • Estimated Cost: 1,000 GHST (500 GHST allocated to design contest rewards).

Prototype Development:

  • Assembly and testing of a functional prototype with the Aavegotchi Gaming OS and RFID integration.

  • Estimated Cost: 2,000 GHST.

Production of One Testing Machine:

  • Manufacturing and assembly of a single arcade machine for extensive testing and validation.

  • Estimated Cost: 3,000 GHST.

Total Estimated Cost for Initial Phases: 6,000 GHST

Details on the AGIP can be found here.

Option 1: Yes, fund it!

Option 2: No, do not fund.

Voting Period: 19 April - 3 May 2024

Results:

OptionVotes
Yes, fund it!10,000,000 GHST (88.31%)
No, do not fund.1,400,000 GHST (11.69%)

Link to vote on Snapshot


Proposal to Add Liquidity on Aerodrome and earn AERO

Aavegotchi Improvement Proposal #118

Proposal Summary:

This proposal seeks to strengthen the Aavegotchi ecosystem by increasing liquidity on Aerodrome, Base's native decentralized exchange (DEX). By adding $500K worth of $GHST and $500K worth of Ethereum to a liquidity pool on Aerodrome, we aim to deepen liquidity and attract more users to the platform. Additionally, we propose allocating 100K GHST worth of bribe incentives to further encourage participation and engagement.

Rationale:

Increasing Liquidity: With GHST recently launching on Base, we have a responsibility to help ensure adequate liquidity for traders on Base. The proposed allocation of $500K worth of GHST and $500K worth of Ethereum into a liquidity pool on Aerodrome will significantly improve the depth of liquidity for trading on Base. This will allow for more efficient trading and reduce price slippage, making the Aavegotchi ecosystem more attractive to both existing and potential users.

Incentivizing Participation: By allocating 100K GHST worth of bribe incentives, we aim to encourage more users to engage with the Aavegotchi ecosystem on Aerodrome. These incentives will be distributed as rewards for veAERO holders in exchange for them voting to increase the allocation of AERO rewards for the GHST-ETH pool.

Earning AERO token for the DAO treasury: Aerodrome is the leading native DEX on Base, and with Aavegotchi making inroads into Base and Gotchichain settling to Base, it makes sense for the DAO to have a stake in the chain’s success. Since Base does not have a native token, tokens like AERO can be seen as proxies for the chain’s growth.

Proposal Details:

Allocation of Funds: The proposal calls for the allocation of $500K worth of GHST and $500K worth of Ethereum from the AavegotchiDAO treasury to be used for creating a liquidity pool on Aerodrome.

Distribution of Incentives: The proposal also includes the allocation of 100K GHST of bribe incentives to be distributed among veAERO holders on Aerodrome. These incentives should be distributed in two tranches of 50K GHST each over a period of one month.

Implementation Timeline: The proposal aims to have the liquidity pool established and the bribe incentives ready for distribution within 14 days of the proposal's approval. The AavegotchiDAO foundation should be responsible for overseeing the implementation process and ensuring that all necessary steps are completed in a timely manner.

Source of funds: $500K worth of ETH should be sourced by converting DAI from the DAO Liquidity wallet into ETH. $500K worth of GHST should be obtained by reducing the DAO’s 80-20 LP on Balancer to obtain enough GHST. Both GHST and ETH should be bridged from Ethereum to Base via the canonical Superbridge or Base Bridge (whichever is easiest).

Details on the AGIP can be found here.

Option 1: Yes, create the pool

Option 2: No, do not create the pool

Voting Period: 26 April - 3 May 2024

Results:

OptionVotes
Yes, create the pool9,200,000 GHST (94.36%)
No, do not create the pool548,000 GHST (5.64%)

Link to vote on Snapshot


Convert all DAO-owned $DAI/$aDAI -> $USDC/$aUSDC

Aavegotchi Improvement Proposal #119

Proposal Summary:

AavegotchiDAO holds a range of treasury assets according to the mandate laid out in AGIP65 which outlined a 4-way split for unlocked $DAI for liquidity, general reserve, core team, and player rewards.

As of April 1st 2024, our stablecoin basket is as follows:

  • ~5.8million USD worth

  • 87.3% in $DAI/$aDAI; remaining in $USDC

Motivation:

An ecosystem change at MakerDAO is recently introducing some additional risk to $DAI with the consideration of including algorithmic stablecoin $USDE and $sUSDE as collateral to borrow $DAI against, with a cap being considered up to $1 billion USD.

This move is indicative of a growing trend where DeFi protocols seek to capture additional yield for users and controversially increase instability risks of the underlying assets in return. With our own DAO stablecoin holdings denominated largely in $DAI I think it is time to shed this risk by converting all our DAI into less risky stablecoins. It is encouraged voters learn more on the MakerDAO situation in the URLs listed at the bottom of this vote.

Voting Material:

I am proposing we convert all treasury assets held in $DAI and $aDAI into $USDC and $aUSDC, respectively. All assets will remain on their current networks unless bridged elsewhere on a different vote. With some research on 3-month yields it looks like there will be minimal impact on our interest accrued if we swap all $aDAI -> $aUSDC. This can be seen from a Dune Analytics chart below.

If passed, the acting AavegotchiDAO Treasurer and Foundation multi-sig directors should follow the below recommendations when swapping:

  • Withdraw all $DAI tokens deposited into Aave & Issue two tranches of swaps to USDC on https://swap.cow.fi/. Then re-deposit all USDC from aDAI equivalents back into the Aave Ethereum V3 Market for address 0x53…7B62.

  • For affected addresses on Polygon issue one swap from DAI -> USDC for both addresses 0x93…631c & 0x8c…90f6 on https://curve.fi/ .

  • For the remaining DAI in wallet 0xFF…8020 please follow the swap instructions above for Polygon on Curve.fi and swap to USDC.

Total DAI Holdings and Wallets

DAO Foundation Treasury

  • 15,809 DAI - 0x53c3CA81EA03001a350166D2Cc0fcd9d4c1b7B62 ; Ethereum

  • 3,557,579 aDAI - 0x53c3CA81EA03001a350166D2Cc0fcd9d4c1b7B62 ; Ethereum

  • 193,490 DAI - 0x939b67F6F6BE63E09B0258621c5A24eecB92631c ; Polygon

Remaining Bonding Curve Fees (Ethereum)

  • 275,825 DAI - 0xFFE6280ae4E864D9aF836B562359FD828EcE8020

DAO Foundation Rewards Pool (Polygon)

  • 9 DAI - 0x8c8E076Cd7D2A17Ba2a5e5AF7036c2b2B7F790f6

Total – 4,042,712 DAI

Background Sources:

https://forum.makerdao.com/t/money-view-of-the-makerdao-morpho-ethena-drama/24026

https://forum.makerdao.com/t/risk-assessment-usde-morpho-lending-integration/23924/7

Option 1: YES. Convert all DAI to USDC

Option 2: NO. Do not convert DAI to USDC

Voting Period: 27 April - 5 May 2024

Results:

OptionVotes
YES. Convert all DAI to USDC8,200,000 GHST (91.77%)
NO. Do not convert DAI to USDC732,000 GHST (8.23%)

Link to vote on Snapshot


Allocation of Aerodrome POL Rewards

Aavegotchi Improvement Proposal #120

Proposal Summary:

This proposal is a followup on the successful passing of AGIP 118 - Proposal to Add Liquidity on Aerodrome and earn AERO. This proposal applies retroactively to the rewards we are currently accruing.

Currently, any AERO that is earned by the DAO via the Aerodrome liquidity flywheel cannot be allocated because the terms were not in the original proposal.

This prop proposes to allocate any AERO earned by our POL (protocol-owned liquidity) on Aerodrome in the following way:

20% converted to ETH 80% added to the GHST/WETH liquidity pool incentives for the next epoch

These transactions should be carried out within seven (7) days of receiving the AERO, unless extenuating circumstances cause delays.

The proposed length for this allocation is three months. After three months, a new proposal will be drafted and submitted to AavegotchiDAO to either continue the allocation as is, or make changes.

Thank you for your consideration frens!

Details on the AGIP can be found here.

Option 1: Yes, allocate the AERO like this

Option 2: No, another way

Voting Period: 17 - 24 May 2024

Results:

Link to vote on Snapshot


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