GoGoPool, subnetting made easy, find out how? Here are the features and the official website of the project.
GoGoPool allows Avalanche node operators to launch a validator node with a minimum of 1100 AVAX, while providing instant liquidity to stakers.
As a permissionless protocol, any individual, business, or Subnet can use the protocol to stake or launch new validator nodes. Our mission is to make is as easy as possible to launch a Subnet. The vision is to enable the WordPress moment for web3 via open source tooling, strong community, and an open staking protocol.
Sub-networks have the potential to revolutionise financial freedom for people around the world, and this project lays the groundwork.
Avalanche aims to be a blazingly fast, eco friendly, and low-fee platform that any developer may build on. They achieve this with a horizontal scaling technique called Subnets.
At a high level, Subnets are a group of validators nodes that come to consensus on something (typically, a blockchain). This gives an appchain developer Avalanche’s best features for free (consensus algorithm, validator set, liquidity) and allows them to focus on creating a great experience for users without worrying about web3 infrastructure.
The problem is that Subnets are expensive to start, grow and manage. Every validator of a Subnet must also validate the Avalanche Primary Network (which requires paying 2000 AVAX as a minimum staking amount, and managing your own hardware).
For builders that wish to experiment with building new Subnets on top of Avalanche, the cost of paying 2000 AVAX per node and managing all the hardware is prohibitively high. For established projects wanting to run a 5 node blockchain, they must pay 10,000 AVAX upfront before launching.
GoGoPool aims to trivialize the cost of starting, growing and managing a Subnet with an open staking protocol that has built in Subnet compatibility – enabling rapid experimentation with new business models and ideas in the web3 ecosystem.
The mission is to be the easiest way to launch a Subnet by lowering the cost of staking. This has 3 components:
- Liquid staking
- Decentralized and permissionless hardware operators
- Subnet compatibility
The GoGoPool protocol emphasizes trustlessness and peerlessness wherever possible, to maximize its decentralization, security, and scalability.
- Democratize and decentralize the current state of Avalanche staking + validation
- Ensure that staking infrastructure and components are as decentralized, trustless and scalable as possible
- Minimize deposit risk and maximize rewards by socializing staking losses and rewards across the network
- Decentralize protocol development, governance, and security using GGP tokenomics to create a healthy self sustaining community
- Maximize network rewards by allowing hardware operators and liquid stakers to easily validate Subnets, earning Subnet rewards
- Create a scalable network that can support Avalanche’s projected Subnet growth, both now and in the long term future
- Trivialize the cost of starting, growing, and managing a Subnet’s infrastructure
- Inspire future projects by being a model example of a web3 protocol, helping proliferate the web3 ethos in the developer community
There are 3 main components to the protocol: the users, community (tokenomics/DAO), and custom node software.
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