Guacamole is a Solana-based cryptocurrency, labelled as a memecoin, designed to create a community-focused ecosystem. It incorporates elements of Decentralised Finance (DeFi) with several reward mechanisms to engage users. The coin aims to simplify the interaction with the crypto space, making it accessible for a broader audience by leveraging the attributes of the Solana blockchain.
Guacamole functions on the Solana blockchain, utilising its Proof of Stake (PoS) consensus mechanism. It leverages Solana smart contracts to offer various features such as staking, farming, and liquidity pools. These smart contracts facilitate the operations within its ecosystem, including a portfolio tracker, rewards marketplace, and more, thus providing community-centric functionalities.
The potential use cases for Guacamole include:
Guacamole's inception is attributed to a founder with a background in crypto and web3 technologies since 2014. The project evolved over years of refining its core thesis, focusing on community governance and technological integration. It utilises the Solana blockchain's PoS mechanism and smart contracts to offer its community-driven services. Notable partnerships, such as with Zebec Protocol, have further positioned Guacamole within the broader crypto market. However, there are no significant forks or major updates that have altered its ecosystem drastically.