What is Galxe?
Formerly known as Project Galaxy, Galxe is one of the leading Web3 credential data networks. Credentials are what make up our digital identities: they are records of actions, reputations and achievements. Galxe was launched in May 2021 as a collaborative credential infrastructure. It focused on making brands and developers create strong products in Web3 to attract and engage communities. While doing all that, Galxe also focuses on giving data curators the opportunity to earn revenue by contributing to the credential data network. When a curator’s data is utilized, they get compensated.
For developers to use credential data to improve products and communities, Galxe offers Applications Modules, Credential Oracle Engine, and Credential API. The Application Models can be used for a number of different things, such as customized governance, Galxe On-chain Achievement Tokens (OATs), NFT loyalty programs, growth hacking campaigns, and so on. The Credential Oracle Engine and Credential API, on the other hand, can be used for things like credit scoring, Sybil attack avoidance algorithms, and other more customized use cases.
On May 5th, 2022, Galxe token (GAL) was launched. On April 28th, 2022, Galxe coin mining became available. GAL price can be viewed on the chart above.
Use Cases of GAL Tokens
GAL is the driving force behind the whole Galxe crypto project. The token comes in two forms – ERC-20 and BEP-20.
For starters, Galxe tokens act as governance tokens. This means that GAL token holders can vote in Galxe DAO and decide on the future development of the project.
Moreover, the GAL token is used as a method of payment for accessing the features on the platform. This includes using Galxe’s credential data through Application Modules or using the Galxe Oracle Engine and Galxe Credential API.
Besides that, curators use GAL tokens to signal a credential data set’s value.
Don't forget to check the Galxe price chart above. It features the recent movement of the GAL price.
Who Founded Galxe?
Galxe was founded by Harry Zhang and Charles Wayn. While Zhang also co-founded Lino Network and DLive.tv, being COO of the former, he was responsible for the team that created the product used by 10 million monthly active users.
Wayn also co-founded DLive.tv, where he served as CEO. In 2019 DLive merged with BitTorrent and Wayn became VP of Interactive Entertainment there, leading many streaming units like DLive.tv, DLive Protocol, and the Two App. He was also the President of the Association for Chinese Entrepreneurs (ACE) at UC Berkeley from 2017 to 2018.
Besides, both Harry Zhang and Charles Wayn are the founders of Bullet Labs, an enterprise studio that works with Web3 product development.
Tokenomics of GAL
The max supply of GAL tokens is 200 million. The token was launched through the Binance Launchpad. Galxe coin is distributed as follows:
- 20.77% – Growth Backer Rounds;
- 20% – Community Treasury;
- 15% – Team;
- 15% – Marketing
- 10% – Foundation;
- 6.23% – Advisors and Partners;
- 5% – CoinList Public Sale;
- 4.5% – Ecosystem;
- 2% – Early Adopter Rewards;
- 1.5% – Binance Launchpool.
If you plan to acquire Galxe coins, make sure to do a thorough GAL price analysis. You can use the aforementioned Galxe price chart featured above for doing that.
