• Aavegotchi’s members are voting on whether to close a smart contract that mints and burns GHST tokens.
• If passed, the roughly $33 million DAI tokens spent in the contract could go towards developing the Aavegotchi gaming protocol’s ecosystem.
• The vote is set to end on Friday, with nearly 4.8 million GHST (or 8.8% of total supply) cast in favor so far.
Aavegotchi Members Vote to End Multiyear Token Sale
Members of the crypto collectibles game Aavegotchi are currently voting on whether to end a two-and-a-half year token sale of its native GHST token, which would prevent further increases in token supply and support development of the game’s ecosystem.
Effects of Closing Smart Contract
If successful, closing this smart contract would lead to around 33 million DAI tokens being allocated to support different aspects of development for the Aavegotchi platform; these include liquidity, decentralized autonomous organization treasury funds, gaming studio Pixelcraft and rewards for protocol users.
Motivations Behind Closing Smart Contract
Jesse Johnson from Pixelcraft Studios stated that ending this smart contract would allow them to “derisk from DAI” and be less reliant on other ecosystems as well as fund their own destiny. It also supports Aavagotchi’s goal of providing more autonomy for their members through self-funding projects within their own ecosystem.
Voting Status & Timeline
So far, voting is almost unanimously in favor with 4.8 million GHST or 8.8% of total supply cast thus far – voting will conclude on Friday March 9th at 7:14 p.m UTC timezone). Blockchain analytics firm IntoTheBlock noted that over 98% of votes have been positive so far – indicating strong community support for this initiative going forward.
This vote has wide implications for the future development and sustainability of Aavegotchis’ gaming protocol if successful – it will provide them with more independence from other ecosystems as well as more options for self funding projects within their own community through accessing funds locked up in a smart contract system used previously for minting/burning GHST tokens