Aavegotchi bonding curve closes on precise day of DAI depeg

Based on play-to-earn nonfungible token (NFT) protocol Aavegotchi, on March 11, the entity closed the bonding curve defining the change price between its Aavegotchi (GHST) token and the DAI (DAI) U.S. dollar-pegged stablecoin. The identical day, DAI misplaced its U.S. greenback peg as a result of ongoing fallout from the collapse of Silicon Valley Financial institution and the Circle-issued (USDC) depegging. USDC’s depeg was brought on by $3.3 billion in stablecoin collateral deposits caught within the now-defunct Silicon Valley Financial institution.

In an announcement to Cointelegraph, Nigel Carlos, the chief advertising and marketing officer of Pixelcraft Studios, defined that the group voted at 2 am UTC immediately to finish a two-and-a-half-year contract sale of its native GHST token and “derisk from DAI.“ Carlos acknowledged:

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