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Don’t miss a beat — constantly staying up-to-date on all the developments in the DeFi/Aavegotchi/play-to-earn space isn’t for everyone. But for those of us behind Gotchi Vault, it’s become a big part of our lives in 2021 and 2022. By staking your assets in Gotchi Vault, you can rest easily knowing that your assets are part of an optimized and up-to-date diversified strategy to maximize your yield.
Potential tax/accounting benefits — this is NOT financial or tax advice, and different jurisdictions vary in their tax requirements. But you MAY significantly benefit by having your earnings compound directly in the protocol while you hold vGHST. For example, if you were to sell raffle tickets on your own, that could be considered a taxable event every time you sell/enter a raffle ticket. With Gotchi Vault, you hold a single token, vGHST, which appreciates in value over time.
We also offer the ability to swap your GHST rarity farming rewards (which are paid directly to the Aavegotchi’s pocket) into vGHST without the GHST ever passing to your wallet. Previously, rarity farmers were left with a devilish dilemma — should they withdraw the rarity farming rewards from the gotchi’s pocket to farm frens (which would arguably trigger a taxable event?); or leave the GHST in the pocket and pass up significant yield. With Gotchi Vault, you can swap your rarity farming rewards directly to vGHST, which sit in your gotchi’s pocket and continue to earn yield from FRENS farming, as well as collect fees from the protocol. This means that you can convert GHST to vGHST without every having the GHST come directly to your wallet.