Hey Theo,
I wanted to respond back to this given the curiosity around the price spike and the relevancy of this thread in the new Risk Parameters adjustment requests in Polygon V2. [ARC] Risk Parameter Updates for Aave V2 Polygon and Aave V3 AVAX 2022-11-23
In my eyes a big component involved in that short-term price action can be explained by the commencement of an AavegotchiDAO vote on 7/26/21 where the community confirmed the hosting of a “GBM auction” where users can earn $GHST from outbidding each other and/or win rare NFTs by participating in the drop mechanism.
Historically this led to run-ups in $GHST price whenever dates were confirmed around this type of event and a few land sale auctions that occurred later on also reflected that same type of behavior in question.
Here’s a link to that snapshot vote:
https://snapshot.org/#/aavegotchi.eth/proposal/QmTuVnGnZSUC4uWRVQrd3HwmJATtvJVpjNikCkifChyJwY
Medium article:
I hope this helps the discussion around the new ARC thread, provides a better understanding of GHST’s specific risk parameters, and more generally provide further context as to why prices may have spiked so much around that date.