GoGoPool AVAX

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.