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Aavegotchi

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Ethereum
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News

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Paradex Refunds $650,000 to Users Following Software Error

Paradex Refunds $650,000 to Users Following Software Error

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Paradex refunded $650,000 to about 200 users due to a software error that caused unintended liquidations during a database upgrade.
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Satoshi Nakamura

What is Aavegotchi?

Aavegotchi - crypto collectibles, living on the Ethereum blockchain, backed by the ERC721 standard, used in popular blockchain games like Cryptokitties, Axie Infinity and Cryptovoxels.

Contents:

  1. How does the platform work?
  2. Additional information

Aavegotchi

How does the platform work?

The platform possesses three attributes that determine their overall value and rarity in the platform universe: pledge, traits and wearable devices.

Each Aavegotchi ERC721 NFT manages the address of the escrow contract that contains the ERC20 collateral.Aavegotchi

aTokens generate income through the Aave LendingPool, which increases the number of aTokens, stored in the wallet. Aavegotchis have many stats that affect their rarity, their effectiveness in minigames and the wearable devices they can equip. The most important ones are as follows:

Kinship Affinity is not randomly assigned, but starts at a fixed value at birth and increases or decreases, depending on various factors.
Randomly generated traits At birth, several random feature values are assigned, using the ChainLink VRF random number generator. The stat values are distributed along a curve and each stat is assigned a value of Common, Uncommon, Rare, Legendary or Mythic, depending on its rarity.
Level Aavegotchi "level up" as they gain experience by voting in the AavegotchiDAO and participating in mini-games. Every few levels you get one spirit point, which can help to increase or decrease a specific trait.

The platform also extends the ERC998 Composables standard, which allows them to manage child NFTs. Some of them can only be equipped with certain accessories, with a certain level and with certain characteristics. The intrinsic value is the face value of the delivered Aavegotchi collateral. If you placed a 10 aDAI bet, the value will be 10 aDAI plus any additional aDAI, accumulated from the credit pool.

Additional information

Since the project is actively developing its social networks, you can find the information you need in its channels:

Also there you can find out about the upcoming updates, promotions and participate in contests.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.