GoGoPool AVAX
Crypto Overview
Purpose and Utility
GoGoPool (GGAVAX) is a decentralized liquid staking protocol built on the Avalanche network. Its primary purpose is to enable users to participate in Avalanche network validation without meeting the high 2,000 AVAX minimum requirement for running a validator node. The protocol allows users to pool their AVAX tokens together to create validator nodes collectively.
Business Model
The protocol generates value by pooling user deposits to create validator nodes on the Avalanche network. Users who stake their AVAX receive GGAVAX tokens representing their staked position. The protocol earns staking rewards from validating transactions on the Avalanche network, which are distributed to token holders. This model aligns with Islamic principles as it involves actual asset ownership and value creation through network validation services.
Real-World Adoption
GoGoPool has demonstrated steady adoption since its launch, with significant total value locked (TVL) in the protocol. The platform actively participates in Avalanche network validation, providing a legitimate service to the blockchain ecosystem.
Platform Development
The project maintains an active development team with regular updates to the protocol. The GitHub repository shows consistent activity, and the team regularly communicates updates through official channels.
Token Distribution
The token distribution includes allocations for the team and early investors with standard vesting periods. The majority of tokens are allocated for community staking rewards and protocol operations.
Crypto Impact
To assign a comfort level investing in GoGoPool AVAX from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to GoGoPool AVAX.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.