Review Project Galaxy ($GAL) – Thrive with digital credentials in web3
Project Galaxy is a Web 3 credential data network built on open infrastructure and has good composability. Project Galaxy’s ecosystem partners include famous faces such as Yearn, BSC, Polygon, Coinlist, 1Inch,…
Concept project – What is Project Galaxy?
Project Galaxy is the largest Web 3 credential data network in the world. Built on open and collaborative infrastructure, Project Galaxy helps Web 3.0 developers and projects leverage digital credential data and NFTs to build great products and communities. Also, data managers are rewarded when credentials are used in the Galaxy App Module, Oracle Credential Engine, and Credential API.
What is the project trying to achieve?
Project Galaxy provides the infrastructure to help developers use credential data for their products, including Application Modules, Credential API, and Credential Oracle Engine. Use cases of the Application Modules include Galaxy OATs (On-chain Achievement Tokens), NFT loyalty programs, growth hacking campaigns, gated community, and customized governance. Developers can also utilize the Credential Oracle Engine and Credential API for enhanced customized use cases such as credit scoring and Sybil attack prevention algorithms.
What is unique selling point?
Open and Collaborative Credential Data Network – Project Galaxy uses an open and collaborative credential data network that is accessible to all developers in Web 3. Galaxy’s infrastructure supports curators contributing credentials through multiple data sources, including:
- For on-chain credentials, curators can contribute with subgraph queries or wallet snapshots
- For off-chain credentials, curators can easily contribute credential data with Galaxy’s integrated data sources such as Snapshot.org, Twitter, and Github
Earn from Curating Credentials – Curators will earn revenue streams when the data they curate is utilized in Galaxy’s Application Modules, Credential Oracle Engine, and Credential API. This creates a network effect because as more credential data flows into the system, more developers will onboard to utilize such data, and in turn incentivize more curators to contribute credentials.
Galaxy ID – Galaxy ID acts as your Web 3 LinkedIn. For all the users on Galaxy:
- Galaxy ID can be your universal username that will represent your multichain/multi-wallet identities in Web 3.
- Users can display the credentials collected in the Web 3 world and showcase the history of their achievements.
- Galaxy ID can be used as a metaverse DID (Decentralized ID), developers can integrate the Galaxy ID toolkit and offer customized features to users based on their digital credentials, or simply enrich user profiles in the product. This enables numerous possibilities and redefines the future of Web 3.
Project Galaxy first launched in March 2021, the project has also attracted more than 200,000 different users on-chain in 7 different blockchains.
- Token Name: Project Galaxy
- Ticker: GAL
- Blockchain: Updating…
- Token Standard: BEP-20
- Contract: Updating…
- Token type: Utility, Governance
- Total Supply: 200.000.000 GAL
- Circulating Supply: Updating…
Token release schedule
Token use case
- Governance: The GAL is used for voting and governance in the Project Galaxy DAO. GAL token holders have the ability to control the number of platform fees collected by the protocol and control the funds held by the Galaxy Project Community treasury
- Payment for the App Module Fee: Developers who wish to use Galaxy credentials data through the App Module will be subject to a Platform Fee calculated in GAL. Platform fees are set up so that any interaction with the Galaxy protocol will be charged in the GAL. Most of the fees will go to the managers and the Galaxy Community Treasury will collect the rest. Currently, all App Module fees are waived during beta testing. The project community treasury holds.
- Billing for Galaxy Oracle Engine and Galaxy Credential API: Developers pay GAL to query credential data through the Galaxy Oracle Engine and Galaxy Credential API. Currently, all query fees are waived during beta testing.
- Digital Credential Management: Managers can use GAL tokens to signal the value of a credential dataset. Each credential dataset will include a revenue stream that will be prorated among the credential holders. The manager can buy shares of the credential dataset from its respective association curve
The Project Galaxy Token Sale Register On CoinList
The sale begins on February 17, 18:00 UTC, and has one public option:
- Supply: 10,000,000 GAL tokens
- Price: $1.50
- Lockup & release: 12-month weekly release starting on or around April 14, 2022
Registration deadline: February 15 at 12:00 UTC
Apply until 12:00 UTC February 15
- Option 1 – 18:00 UTC February 17
- Price – $1.50
- Allocation – $100 – $500
- Lockup – 12-month weekly linear unlock starting on April 14, 2022
- Participants able to purchase ≈ 30 000
- Users in the waiting room for the sale
- Credential data for Web3 applications and communities
- BTC, ETH, USDC, USDT, SOL, ALGO
- $1.50 per token, $500 limit
- The user’s purchase may be cancelled and the user may be banned from future CoinList sales
- The user’s account will be terminated
How to own the token?
Buy GAL Token at IDO on CoinList
Markets and Community
Project Galaxy has crossed the mark of 195,000 Followers on Twitter
Conclusion and analysis
Project Galaxy is built on open and collaborative infrastructure with the mission to help Web 3 developers use digital credential data and NFTs to build better products and communities.
Find more information about Project Galaxy:
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.