Hey Frens, here’s a handy guide to Staking GHST Tokens and earning FRENS! This guide will walk you through the what, why, and how of staking on Aavegotchi.
What is GHST
The GHST Token is the fuel for Aavegotchi’s ecosystem. GHST provides economic incentive for Aavegotchi’s player base to encourage greater participation and involvement with the Aavegotchi game. The GHST token specifically helps align the respective goals of the AavegotchiDAO, GHST holders, and Aavegotchi NFT holders.
Why Stake GHST?
Staking your GHST tokens earns you FRENS, a non-transferrable balance within the Aavegotchi staking contract. They cannot be purchased and are meant to reward stakers for their contributions to Aavegotchi. FRENS can be converted into Raffle Tickets and entered into our famous NFT raffles to win Portals, Wearables, and land in the Gotchiverse REALM.
Ways to Stake
There are currently five ways to Stake GHST and earn FRENS.
- GHST
- GHST-QUICK
- GHST-USDC
- GHST-WETH
- GHST-MATIC
Each option offers different rewards, which I will explain in more detail below.
How to Stake GHST
In this section I will discuss how to stake your GHST tokens to earn FRENS for each of the four options. In this section it is assumed that you already have your GHST Tokens on Polygon and already have Polygon added to your Metamask. If you do not have either of these done already check the wiki here for instructions. It will also be assumed that you do not currently have the liquidity provider tokens. If you already have LP tokens you can skip some of these steps.
GHST:
Single staking GHST is the simplest method
- Go to aavegotchi.com and click “Stake GHST”
- Input the amount of GHST you wish to stake in the single staking GHST area
- Click “Stake”
- Confirm the transaction through your wallet and you are done
GHST-QUICK and GHST-USDC:
Both of these options follow the same general process:
- Go to Quickswap and become a liquidity provider for either the GHST-QUICK or GHST-USDC pool
- After providing liquidity by entering equal parts GHST and either QUICK or USDC you will receive LP tokens
- Go to aavegotchi.com/stake-polygon and enter your LP tokens
- Click “Stake”
- Confirm the transaction through your walletIf you chose to stake through the GHST-USDC option you will receive stkGHST-USDC tokens that you can deposit at https://quickswap.exchange/#/quick to earn additional rewards
GHST-ETH
- Go to Quickswap and become a liquidity provider for the GHST-ETH pool
- After providing liquidity you will receive GHST-WETH LP tokens
- Go to aavegotchi.com/stake-polygon and enter your LP tokens
- Click “Stake”
- Confirm the transaction through your walletAfter confirmation you will receive stkGHST-WETH tokens
GHST-MATIC
- Go to Sushiswap and become a liquidity provider for the GHST-MATIC pool
- After providing liquidity you will receive GHST-MATIC LP tokens
- Go to aavegotchi.com/stake-polygon and enter your LP tokens
- Click “Stake”
- Confirm the transaction through your wallet
Staking Returns
Each option offers different FRENS rewards for staking. The single staking GHST option is the baseline, offering 1 FREN per day for each GHST token staked. The other options offer higher incentives due to the risk of impermanent loss. Keep in mind that the FRENS Committee may change the FRENS reward amount from time to time in order to maintain proper balance. You can view the estimated APY for each GHST staking option by going to aavegotchi.com/stake-polygon and clicking the stats button in each section.
Good luck frens and happy staking!
About Aavegotchi
Aavegotchis are on-chain collectible ghosts staked with Aave’s interest-generating aTokens.
Compete for player rewards by earning XP, leveling up, and increasing the rarity of your Aavegotchi fren. Owned by the community, Aavegotchi is governed by the AavegotchiDAO and the native eco-governance token GHST. Visit Aavegotchi.com today and join the future of DeFi-staked NFT avatars!
Resources:
Official Website: https://aavegotchi.com/
Gotchiverse Website: https://verse.aavegotchi.com/
Official Wiki: https://wiki.aavegotchi.com
Medium: https://aavegotchi.medium.com
YouTube: www.youtube.com/c/Aavegotchi
Community:
Twitter: https://twitter.com/aavegotchi
Discord: http://discord.gg/aavegotchi
Telegram: https://t.me/aavegotchi
Reddit: https://www.reddit.com/r/Aavegotchi/
