My Chads, it takes some time to understand $GHST @Aavegotchi. But no worries, let me ELI5. In order to understand @Aavegotchi, we need to discuss why NFT's are getting attention from thought leaders such as @QwQiao @Rewkang @AndreCronjeTech @DeFi_Ted @gabusch @scupytrooples

The last few months DeFi has taken the industry by storm. Financial primates such as borrowing and lending, yield generation and insurance is performed by locking, staking, depositing, and using as collateral ERC20 tokens you know like $DAI, $USDT, $LINK, $YFI, $WBTC, $LEND.

Why stop there? Let's do the same with NFT's. NFT's are non-fungible tokens (i.e. each is distinct and has specific features) used to demonstrate ownership of a certain item, e.g. digital art ( @rariblecom, @SuperRare_co), collectables ( @CryptoKitties), digital land ( @decentraland

Even more, recently NFT's have also been used to create certain financial products such as insurance. https://twitter.com/rariblecom/status/1303802405562314756?s=20

Using NFT's that resemble digital assets (and even real-world assets) in DeFi, allows us to in the first time in history use all the "locked" liquidity into such assets for financial primates. Example: Use @enjin upcoming Minecraft items as collateral in @AaveAave to borrow money

So now that we understand why NFT's will be important in DeFi. Let's finally talk about @aavegotchi.

In @aavegotchi you create unique little creatures (i.e. NFT's) called Aavegotchi's. They are rare crypto-collectables, like @CryptoKitties, but with a twist.

To create an Aavegotchi, you need to stake it with interesting bearing Aave ERC20 tokens (e.g. aLink, aUSDT, aYFI). Yes, you heard that right. The Aavegotchi contains (through an Escrowcontract) the ERC20 tokens, and whenever you sell or buy a Aavegotchi, the tokens are included.

What makes this interesting? It means that Aavegotchis, unlike CryptoKitties, have intrinsic value (i.e. the Aave ERC20 tokens staked to create the Aavegotchi) in addition to the value from being a rare collectable. It doesn't stop there.

Like in an RPG you can equip the Aavegotchi with NFT's. Yes, an Aavegotchi (an NFT) can be equiped with (so-called Wearables) more NFT's. Aavegotchi's apparently can also poop and can breed but those details are TBD. Also, $GHST will be farmable with Aavegotchi's.

Ok Chad, now what can we do with this? The sky is the limit.
An Example:
Name: Insured YFI Aavegotchi
Created with: staking 2 aYFI
Wearable: 1 NFT Insurance for 2 aYFI with expiration 3 month underwritten by @NexusMutual.

I expect many novel Aavegotchi's to be created.

So what is @aavegotchi?

At first sight, it's a fun collectable game.

But maybe, just maybe, it will be the trend leader of sophisticated repackaging, aggregating and combining of existing DeFi products through Aavegotchi's. ,

https://twitter.com/AndreCronjeTech/status/1302635442085519360?s=19

Excited to find out!

For more info about @aavegotchi, the use-case of $GHST in this network, check out their whitepaper: https://drive.google.com/file/d/186zOapKeHNNJ9y8LIByQQ64rs0eJUlEF/view