Key Points
- Binance will launch futures trading for Aavegotchi (GHST) today.
- The GHSTUSDT Perpetual Contract will launch with up to 75x leverage.
Binance has just announced the launch of futures trading for Aavegotchi (GHST) today, September 23, at 13:00 (UTC). The GHSTUSDT Perpetual Contract will launch with up to 75x leverage.
Binance continues launching futures contracts in an effort to expand users’ trading options while boosting their experience on the platform.
Folowing the announcement from Binance Futures, the Aavegotchi (GHST) token recorded a significant surge in its price of over 37%.
GHST Price Surges Following Binance Announcement
At the moment of writing this article, GHST is trading at $1.19, up by more than 37% in the past 24 hours.
Earlier, the token reached a price of $1.22. The coin has a total market cap of almost $63 million.
Among the project’s most notable achievements, it’s important to mention that Aavegotchi raised $30 million to create a gaming platform without any VCs.
In a post on X on September 17, the team detailed how they did it via a video presenting their CEO CoderDan telling the whole story at DAO TOKYO, a DAO event that took place in Tokyo from August 21-22.
The NFT gaming protocol raised the funds from its holders to fund development for the project, without selling any NFTs, according to the CEO.
Last month, the project introduced Geist, a new L3 built with Arbitrum Orbit, Base for settlement, and Alchemy as their roll-up partner. Geist is meant to onboard the next billion users on-chain.
What Is Aavegotchi (GHST)?
Aavegotchi (GHST) is the governance token of the Aavegotchi NFT Gaming Protocol.
GHST is an ERC20 token that could be bought and sold freely via the “bonding curve” – an AMM (Automated Market Maker) smart contract owned by the DAO.
On September 15, 2020, the GHST token sale went live on Ethereum Mainnet. The sale was the first of its kind, a “continuous model” owned by a DAO, also known as DAICO, which is a term coined by Vitalik Buterin, Ethereum’s founder.
GHST token holders receive voting power in the AavegotchiDAO which oversees the following:
- All of the protocol’s aspects
- Aavegotchi’s flagship game, the Gotchiverse
- Aavegotchi NFTs
The Aavegotchi protocol is an Aave node, and it’s translated into “ghost” in Finnish. It’s powered by the Aave protocol, one of the leading lending protocols in DeFi.
Important Project Details:
- Aavegotchis are pixelated ghosts backed by the ERC-721 token standard.
- The Aavegotchi NFTs have dynamic metadata that changes over time via user interaction.
- Aavegotchi’s value and rarity are determined by its collateral stake, traits, and wearables.
Aavegotchi was created by the Singapore-based Pixelcraft Studios.
