Article Summary, Automatically Generated By AI
Summary of GoGoPool
Key Points
- GoGoPool is a decentralized staking protocol for Avalanche Subnets.
- GGP is the native utility token used for lowering AVAX staking costs, staking, and governance.
- 18 million GGP tokens were created at genesis.
- 5% of additional supply is issued each year as epoch rewards.
- Reward distribution: 70% to validators, 20% to protocol treasury, 10% to OracleDAO.
- GGP is available for trading on multiple exchanges with cryptocurrency and stablecoin pairs.
Figures and Numbers
- 18 million:
About GoGoPool
Introducing GoGoPool, a cutting-edge decentralized finance (DeFi) platform designed to revolutionize the cryptocurrency landscape.
Introducing GoGoPool: A Revolutionary Platform
Introducing GoGoPool, a decentralized staking protocol designed to accelerate the launch of Avalanche Subnets through the power of liquid staking and the $GGP token.
GGP is the indigenous utility token, serving multifaceted purposes, including:
- Reducing the AVAX staking requirements for validator nodes
- Matching staking with AVAX allocations from the deposit pool
- Utilized in governance to inform protocol decisions, thereby facilitating expedited Subnets launches
The Circulating Supply of GGP Coins: A Closer Look
On April 28, 2023, GoGoPool successfully launched its mainnet, accompanied by the creation of 18 million GGP tokens at genesis. Furthermore, an additional 5% of the total supply is issued annually to support the network’s operations, with epoch rewards allocated as follows: 70% to validators, 20% to the protocol treasury, and 10% to the OracleDAO. Notably, these reward settings are subject to configuration by the DAO.
Acquiring GGP: A Comprehensive Guide to Purchasing Options
GGP is now accessible for trading on an expanding array of exchanges, boasting an increasing range of cryptocurrency and stablecoin pairing options.
As of April 2023, Trader Joe boasts an unparalleled array of trading pairs, solidifying its position as a market leader.
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