Galxe(Project Galaxy) Price (GAL)

What Is Galxe(Previously Project Galaxy)(GAL)?

Project Galaxy is the largest Web3 credential data network in the world. Built on open and collaborative infrastructure, Project Galaxy helps Web3 developers and projects leverage credential data to build better products and communities. At the same time, data curators are rewarded when credentials are used in Galaxy's Application Modules, Credential Oracle Engine, and Credential API.

What are Digital Credentials?

Credentials live in our day-to-day life. An example of on-chain credentials would be the record that you borrowed money from AAVE and Compound but never got liquidated. Your contribution to a protocol's liquidity pool when it first launched, or your on-chain voting history are all credentials. All of your behavioral data in Web2 counts towards your credentials and companies like Google and Facebook run algorithms on your credentials so that they can send you targeted advertisements.

Credentials are important due to the high use case they provide. Applications can use your credentials to calculate credit scores, find target audiences, reward community contributors, etc. With the advance of Web3 and DAOs, there will be an explosion of behavioral data generated by waves of new users. This will provide the necessary infrastructure to help these new users build digital credentials that will be of paramount importance.

What Are the Features of Project Galaxy(GAL)?

Project Galaxy aims to build an open and collaborative credential data network that is accessible to all developers in Web3. Project Galaxy provides the infrastructure for community members to curate and contributes digital credentials to our data network. Their infrastructure supports curating credentials through multiple data sources. For on-chain credentials, curators can contribute with subgraph queries or static snapshots. For off-chain credentials, they have integrated with data sources such as Snapshot.org, Twitter, and Github.

By contributing to Galaxy's Credential Data Network, curators are rewarded when credentials are used in Galaxy's Application Modules, Credential Oracle Engine, and Credential API. Because there are users consuming (paying to use) data in our ecosystem, this incentivizes more users to come to curate the data network.

Project Galaxy allows builders to utilize credentials through its,

• Application Modules
• Galaxy Credential Oracle
• Galaxy Credential API

Project Galaxy empowers everyone to curate and contributes digital credentials.

Who Are the Founders of Project Galaxy(GAL)?

Project Galaxy began with an effective and driven team of five employees responsible for the platform's design and launch. The team successfully onboarded the first three projects, which were highly instrumental in expanding the Project Galaxy ecosystem and driving the project's global adoption in the months after our platform launch.

What Is Project Galaxy(GAL) Token?

Project Galaxy aims to build a permissionless, open, and collaborative credential data network. The GAL token is an essential component to such infrastructures as it functions as the governance token, incentivizes user participation, and serves as the primary payment token of the Project Galaxy ecosystem. Here are the utilities of GAL:

• Governance: GAL is used for voting & governance in Project Galaxy DAO. GAL token holders have the ability to control the amount of the platform fee collected by the protocol, and control funds held by the Project Galaxy Community Treasury.
• Paying for Application Module Fee: Developers who aim to utilize Galaxy's credential data through Application Modules will be subject to a Platform Fee which is charged in GAL. The Platform Fee is set up such that every interaction with the Galaxy Protocol will incur a fee in GAL. Most of the fee will go to the curators, and Galaxy Community Treasury will collect the rest. Currently, all Application Modules fees are waived during beta testing.
• Paying for Galaxy Oracle Engine and Galaxy Credential API: Developers pay GAL to query our credential data through Galaxy Oracle Engine and Galaxy Credential API. Currently, all query fees are waived during beta testing.
• Curating Digital Credentials: Curators can utilize the GAL token to signal a credential data set's value. Each credential data set will include a revenue stream that will be split between credential stakeholders' pro-rata. Curators can purchase stakes of a credential data set from its corresponding bonding curve. Because of the nature of the bonding curve(the price of credential stake increases as more users purchase it), in the event, a curator purchases the credential stake of a popular data set early, the cost of credential stakes will be low so its future revenue stream will be relatively high. When the price of the credential stake increases along the bonding curve, the curators can also choose to sell the credential stakes back to the bonding curve in exchange for GAL. As a result, this incentivizes curators to help identify valuable credential data sets by using GAL to exchange for credential stakes through the bonding curves. In the long term, the more credential data in the network, the more GAL will be locked in bonding curves for data signaling. Currently, the curation system is still under development.

Where Can I Buy Project Galaxy(GAL) Token?

Investing in Project Galaxy(GAL) can seem complicated, but it is much easier when you buy Project Galaxy(GAL) Token through a cryptocurrency exchange. Signing up for a cryptocurrency exchange will allow you to buy, sell, and hold Project Galaxy(GAL) Token — both for fiat money and other cryptocurrencies. Some of the most popular Project Galaxy(GAL) Token cryptocurrency exchanges are:

• Binance
• KuCoin
• Huobi
• Uniswap (V3)
• PancakeSwap (V2)
• Gate.io

Galxe(Project Galaxy) (GAL) Community

• Twitter: https://twitter.com/Galxe
• Discord: https://discord.com/invite/galxe
• Telegram: https://t.me/Galxe

What is Galxe(Project Galaxy) (GAL) Contracts address?

• Ethereum: 0x5fAa989Af96Af85384b8a938c2EdE4A7378D9875
• BNB Chain(BEP20): 0xe4Cc45Bb5DBDA06dB6183E8bf016569f40497Aa5