Galxe, formerly Project Galaxy, is a collaborative credential data network built on open and collaborative infrastructure. It empowers developers and organizations to leverage digital credential data and NFTs to build better products and foster thriving communities in Web3. Data curators are rewarded for their contributions when credentials are utilized in Galxe’s Application Module, Oracle Engine, and Credential API.
Table Content:
Addressing the Credential Data Gap
Currently, credential data is often siloed in closed databases, owned and permissioned by individual applications, governments, and financial institutions. This fragmentation makes it difficult for individuals and developers to access necessary information. Galxe solves this problem by utilizing an open and collaborative credential data network accessible to all Web3 developers.
Galxe’s infrastructure supports curator contributions from various sources:
- On-chain credentials: Curators can contribute via subgraph queries or wallet snapshots.
- Off-chain credentials: Curators can easily contribute through integrated data sources like Snapshot.org, Twitter, and Github.
Incentivizing Data Curators
Galxe not only provides a platform for curators but also incentivizes their participation. Each credential data set generates revenue shared proportionally among credential owners. Curators can purchase shares of a credential dataset from its corresponding bonding curve.
Due to the bonding curve’s nature (credential share price increases with demand), early investment in a popular dataset results in lower costs and potentially higher future revenue. As share prices rise, curators can sell their shares back to the bonding curve in exchange for GAL tokens.
This mechanism encourages curators to identify valuable credential datasets, utilizing GAL tokens to acquire shares through bonding curves. Ultimately, more data within the network leads to more GAL locked in bonding curves, signaling data value.
Revenue Generation Opportunities
Curators earn revenue streams when their managed data is used in Galxe’s Application Module, Oracle Engine, and Credential API. This creates a network effect: more credential data attracts more developers, incentivizing further curator participation. This symbiotic relationship benefits both curators and the platform’s growth.
Galxe Token (GAL) Overview
Key Metrics
- Token Name: GAL
- Ticker: GAL
- Blockchain: Ethereum, BNB Chain
- Token Standard: ERC20, BEP20
- Contract:
- ERC20: 0x5faa989af96af85384b8a938c2ede4a7378d9875
- BEP20: 0xe4cc45bb5dbda06db6183e8bf016569f40497aa5
- Token Type: Governance, Utility
- Total Supply: 200,000,000 GAL
- Circulating Supply: 46,545,329 GAL
Token Allocation
- Ecosystem (6%), Rewards (2%), Foundation (10%), Marketing (15%): 33%
- Token Sale (Investors): 25.77%
- Community Treasury: 20%
- Team: 15%
- Advisors & Partners: 6.23%
Token Release Schedule
The release schedule outlines a phased distribution of GAL tokens over time, balancing immediate liquidity with long-term sustainability.
Use Cases
- Governance: GAL holders participate in Project Galaxy DAO governance, influencing platform development and fee structures.
- Application Module Fees: Developers pay GAL to utilize credential data via application modules.
- Oracle Engine and API Access: Developers pay for querying credential data through the Oracle Engine and Credential API.
- Credential Data Management: Curators use GAL to signal the value of credential datasets.
Acquiring GAL Tokens
Curators can acquire GAL by purchasing and selling credential data shares based on market demand. Early participation in promising datasets offers potential for higher returns.
Roadmap and Updates
Launched in March 2021, Galxe boasts over 200,000 on-chain users across seven blockchains. With over 700 credential datasets and more than 5 million Web3 users, Galxe’s data network powers over 500 campaigns for 120 projects and organizations.
Team, Investors, and Partners
Team
Galxe is led by co-founders Harry Zhang (Product Lead) and Charles Wayn (Strategy Lead), both with extensive experience in building successful platforms and communities.
Investors
Galxe secured $10 million in funding led by Multicoin Capital and Dragonfly Capital, with participation from prominent investors like Alameda Research, Solana Ventures, Coinbase Ventures, and Binance Smart Chain.
Partners
Partnering with projects like Dvision Network and leveraging Polygon’s LAND Grant Program, Galxe collaborates with leading DeFi protocols and ecosystem players like Ethereum, Binance Smart Chain, Solana, Fantom, and Avalanche. Over 110 projects currently utilize Galxe’s platform for growth and engagement.
