ggAVAX via ERC4626

ERC4626 is a new type of token that allows for distributed shares of a token vault.

What is it?

  • New Token type based on ERC-20

  • Allows users to pool native tokens into the vault and own "shares".

  • Those shares can be redeemed for the tokens.

  • Protocols then implement a strategy to maximize yield on these tokens (staking) so that its users earn interest.

How does this work for GoGoPool?

  • Users deposit their AVAX into our ERC-4626 contract, known as TokenggAVAX.

  • The contract mints them equivalent ggAVAX.

  • Users can redeem ggAVAX for equivalent AVAX plus their interest.

  • The deposited AVAX is then sent to our minipools to be staked for an amount of time.

  • Users can then redeem their ggAVAX whenever they like, if there is floating AVAX available.


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