Introducing GoGoPool—the Future of Subnet Development
Imagine a Web3 that’s both seamless and customizable, where transactions finalize in seconds without centralized middlemen. Avalanche Subnets make this experience possible - and now, GoGoPool helps projects launch a Subnet quickly and affordably.
GoGoPool’s mission is to help people easily launch Subnets on Avalanche. In the past, the process required significant technical expertise and a prohibitive cost barrier.
GoGoPool is a permissionless staking protocol built for Avalanche Subnets to lower the cost of running a validator node via liquid staking and minipools.
When using GoGoPool to liquid-stake AVAX, users receive the ggAVAX token, which is a new staking token representing their staked AVAX plus any rewards it has accrued in real-time. You use ggAVAX to grow the Subnet Ecosystem via liquid staking.
To launch a new validator node through GoGoPool, users supply their own hardware and stake only 1000 AVAX (instead of the normal 2000) plus 10% of that value via the GGP token. Because node operators stake AVAX and GGP, they earn rewards in both AVAX and GGP. New nodes are placed in a queue to get matched from the ggAVAX deposit pool. Once matched, full AVAX validator nodes are launched as what we call “minipools.”
The GoGoPool protocol is designed to maximize safety and freedom for node operators and liquid stakers while maximizing Subnet use cases. Minipools are noncustodial - node operators retain full ownership of their validator node and may use it to validate Subnets.
Brian Johnson of Republic Capital states: “GoGoPool isn’t just another Liquid Staking Protocol. It’s an LSP and a coordination mechanism that allows subnets to be deployed easier and cheaper. With their innovation, we believe GoGoPool could become a core infrastructure component for the Avalanche ecosystem, which is at the forefront of blockchain technology.“
GoGoPool’s thesis is that appchains are needed to scale Web3 - and that Subnets are the only viable option because they are readily available, completely customizable, and are easily scalable. That’s why GoGoPool is not a cross-chain project but is “all-in” on Avalanche - and excited to help create models and tools to make Subnets more simple and attractive for all.
“Avalanche Subnets are the best technical solution for application specific blockchains; in fact, I believe that in 3 years, 80% of appchains will be powered by Subnets. We are all-in on making Subnets easy, reducing launch times for projects, and creating an ecosystem in order to scale Web3 and bring blockchain to the world. ” - Steven Gates, Founder of GoGoPool.
About the GoGoPool Foundation
GoGoPool is a DAO community which builds a permissionless and decentralized staking protocol for the Avalanche Network. The GoGoPool Foundation helps GoGoPool to grow, initialize a strong community, and progressively decentralize with the mission of Making Subnets Easy. The foundation is responsible for executing DAO proposals, guiding the progressive decentralization process, and ensuring the platform's long-term success. Committed to transparency, fairness, and community, the GoGoPool Foundation plays a vital role in advancing blockchain technology and fostering a more interconnected and decentralized world.
Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.