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The fundraise also included a number of other notable investors including Avalaunch, FinTech Collective, Republic Capital, Builder Capital, Genesis Block Ventures, AlphaCrypto Capital, and Flow Traders. Serving both liquid stakers and validator node operators, GoGoPool is the only natively-built liquid staking protocol on the Avalanche blockchain that addresses the challenges of liquid staking and the launch of subnets, the blockchain’s primary solution for scaling.
“Subnets have the potential to be the WordPress for blockchains, allowing rapid experimentation with new models and ideas – but are currently held back by a few key friction points. It would be a waste of potential if we didn’t explore solutions to the limitations of launching subnets,” says Steven Gates, CEO of GoGoPool. “Currently 60% of AVAX is locked up in Avalanche’s staking windows and the cost of running hardware is relatively high, making it very costly to launch a new subnet. By building a staking protocol that has decentralized hardware pools, liquid staking, and subnet compatibility, GoGoPool will enable a new wave of subnets to be launched cheaply and easily – putting GoGoPool at the ground floor of a quickly growing Subnet Economy.”
