An Open Framework to Safely Decentralize Avalanche Subnets
Avalaunch and GoGoPool are excited to introduce Bloom, an open framework allowing Subnet builders to programmatically attract validators and delegators to decentralize their networks.
Bloom accelerates the growth of the Avalanche Network by utilizing the XAVA and GGP tokens as a platform for decentralization. This framework addresses the common challenges faced by various stakeholders in the Web3 ecosystem, from Subnet teams to validators and crypto users.
The Problem with Decentralizing Blockchain Networks
The process of decentralizing blockchain networks presents numerous challenges, leading to delays in network launches and expansions. The three key stakeholders – Subnet teams, validators and crypto users – each face unique difficulties:
- Subnet Teams – Achieving decentralization before reaching product-market fit can be costly. Many teams, often from a Web2 background, grapple with the implications of decentralization, such as counterparty identification, KYC requirements, hardware specifications, and the necessity of a token.
- Validators – Validators seek sustainable business models that thrive in both bear and bull markets. They need efficient ways to connect with Subnet teams, understand opportunities and demonstrate their unique value in a competitive space.
- Crypto Users – Users look for ways to support their preferred Subnets through delegation or staking, participate in DeFi activities, and contribute to the growth of the Avalanche Network and the broader Web3 ecosystem.
Bloom: The Solution for Safe Decentralization
Bloom is a permissionless, secure, and adaptable framework: the result of a year-long comprehensive research effort by Avalaunch and GoGoPool. It offers a structured yet flexible approach for Subnet teams to grow through decentralization and minimize counterparty risks.
The framework has a few goals:
- Maximize value accrual to the blockchain network
- Allow teams to have an ROI-positive way to decentralize
- Address unique challenges and create new opportunities for each stakeholder
This gives Subnet Teams and Developers a way to programmatically:
- Attract stakers for enhanced network security via liquid staking
- Engage and incentivise diverse node operators
- Iteratively decentralize and grow their networks
Validator Node Operators can:
- Gain early and exclusive access to networks
- Develop sustainable business models
- Earn higher yields through hardware provisioning and maintenance
Delegators and Crypto Users can:
- Participate in Subnet ownership
- Earn yields on the C-Chain and participate in DeFi
- Actively contribute to the growth and decentralization of Subnets
Value Accrual for XAVA & GGP
Some of the value accrual for XAVA and GGP holders are as follows:
- Delegation Pool: Representing the underlying assets of the liquid staking vault which accrues rewards and fees back to delegators.
- Operator Pool: A 50/50 split of Operator Pool profits between GoGoPool and Avalaunch, distributed to token stakers.
- Matching Pool: A Subnet-determined pool of native staking tokens that are used to launch validators.
- Matching Queue: Node operators will be able to enter into the Matching Queue via the GoGoPool protocol and earn a Node Operator Commission on matched funds from the Delegation Pool.
Why Bloom? Why Now?
With the increasing number of teams exploring and experimenting with Subnets, there is a clear demand for a realistic and secure path to decentralization. Bloom aims to set the foundation for this journey, allowing the ecosystem to build and expand upon it.
So, What Happens Next?
Bloom is going to be an open and permissionless framework. Our teams will share further information about Bloom’s technical architecture, how GGP and XAVA token holders will benefit, provide clarity for launch timelines, as well as making the testnet framework accessible.
Avalaunch & GoGoPool
Avalaunch was always driven to be more than a static launchpad. Today, a partnership with GoGoPool represents the beginning of an endgame where support and benefit from the Avalanche ecosystem goes beyond launching projects. While token sales will always remain central to the mission and a core competency, the XAVA token will now be able to help Subnets grow past their IDO and benefit stakers accordingly.
Since their Avalaunch IDO in April of 2023, GoGoPool (GGP) has established itself as a critical pillar of the Avalanche community via its decentralized and inclusive infrastructure. GGP lowers barriers to entry for validation by providing a faster, more convenient alternative through their liquid staked AVAX product. The GGP token and protocol has firmly rooted itself inside the security and ever-expanding economics of the growing Avalanche network.
