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.
Inspiration
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