A Leading Web3 Credential Data Network.
June 24th 2022
Project Galaxy (GAL)
Known as Project Galaxy, it is a Web3 credential data network. By leveraging digital credential data and NFTs, Project Galaxy helps Web3 developers and projects build better products and communities.
Through Project Galaxy, curators can aggregate credentials from multiple on-chain and off-chain data sources.
Through Application Modules, Credential Oracle, and Credential APIs, Project Galaxy empowers developers to leverage credentials.
The GAL token is Project Galaxy's native utility and governance token. It can be used in the following ways:use cases:
Governance: Token holders can vote on Project Galaxy DAO's governance proposals.
Paying for Fees: Developers who wish to use Galaxy's credentials will be charged in GAL.
Curating Credentials: Curators are incentivized to stake GAL token to signal a credential data sets value. Revenue streams will be split pro-rata among credential stakeholders for each credential data set.
The major components of Project Galaxy are as follows:
Credential Data Network: Multiple data sources are supported by Project Galaxy's infrastructure, including:
On-chain Credentials: Contribute data from 7 different chains through subgraph queries or wallet snapshots
Off-chain Credentials: Contribute data through Galaxy’s integrated data sources such as Twitter, Github, or Discord
Application Modules: Web3 projects can build better products and build more engaging communities with the help of Project Galaxy application modules.
Galaxy OAT (On-Chain Achievement Token): Provides a gasless solution for distributing NFT badges to communities.
Galaxy NFT: Provides communities with gamified NFT campaigns to reward and engage users.
Galaxy Vote: Allows communities to build custom governance systems using credentials and credential-based NFTs.
Galaxy Credential API: Developers can use credential data from off-chain applications to build Web3 LinkedIn, guilds, voting infrastructure, and Sybil attack prevention algorithms among other things.
Galaxy Credential Oracle: Developers can query credential data from smart contracts for customized on-chain use cases such as credit scoring, liquidity mining boost, allowlist for INO or IDO, etc.
Galaxy ID: Galaxy ID leverages Galaxy Credentials and acts as a Web3 LinkedIn. In Web3, Galaxy IDs can represent users' multichain/multiwallet identities.
Two rounds of equity investment have raised a total of 10.16MM USD for the project. An allocation of 20.77% is expected to be made to equity backers. Additionally, 15MM USD was raised via Coinlist's public sale of 5% of the total GAL token supply.
As of June 27th 2022, the total and maximum supply of GAL is 200,000,000 and the circulating supply upon listing will be 35,161,333 (~17.58% of the total token supply).
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