What is Project Galaxy? All information about Project Galaxy and token GAL

• Project Galaxy Overview
• What is Project Galaxy?
• Highlights of Project Galaxy
• Project Galaxy's ecosystem
• The development team, the investor of the Project Galaxy project
• Project Galaxy development roadmap
• Overview of the GAL . token
• What is GAL Token?
• Functions of the GAL . token
• Allocate GAL . tokens
• Where can GAL tokens be bought and sold?
• The future of Project Galaxy and should I invest in GAL tokens?
• summary

Project Galaxy Overview

What is Project Galaxy?

Project Galaxy is one of the leading Web 3.0 credentials data networks in the cryptocurrency market. Project Galaxy provides an open source infrastructure, including: Application Module, Credential API and Credential Oracle Engine. 

In it, Application Module is used in cases like Galaxy OATs (On-chain Achievement Tokens), NFT loyalty program, Growth Hacking campaign, monitoring community and custom governance. Credential Oracle Engine and Credential API are used to customize advanced features (such as credit scoring and sync attack prevention algorithms). This makes it easy for Web 3.0 developers and projects to leverage credential data to create the best products and communities.

Up to now, Project Galaxy has more than 500 data files attesting information and has more than 3 million users in Web 3.0. Not stopping there, more than 120 protocols and communities have leveraged these endorsement data and launched more than 500 campaigns. 

Highlights of Project Galaxy

Public and Collaborative Attestation Data Network

Project Galaxy uses a public and collaborative network of attestation data. This means that all developers in Web 3.0 have access to data and information on the platform.

In addition, Project Galaxy enables managers to contribute credentials through a variety of data sources both on-chain and off-chain.

• For on-chain logins, managers can contribute with subgraph queries or wallet snapshots.
• For off-chain logins, managers can easily contribute attestation data using Project Galaxy's built-in data sources such as Snapshot.org, Twitter, and Github.

Make money from testimonials

Project Galaxy also creates income opportunities for users who take on the role of attestation data manager. Specifically, once the data they manage is used in the Project Galaxy ecosystem, the manager will receive a certain reward.

Besides, when there is more authentication data in the system, it will create a large network effect and encourage users to contribute more authentication information.

Up to now, more than 100 partners have carried out more than 500 campaigns on Project Galaxy. Some typical campaigns include:

• Bootstrapping Community: Hashflow used Project Galaxy to drive transaction volume to $600 million.
• Customized Voting System: Project Galaxy provides a customized voting strategy for the MVB program.
• Loyalty Program: Yearn Finance introduces Woofy NFT on Project Galaxy.
• Growth Hacking Campaign: Growth hacking campaign called "Project Galaxy 2021 End-of-year Rave".

Galaxy OAT (On-chain Achievement Token)

Galaxy OAT is considered an NFT solution for event organizers and community managers. They can use Project Galaxy's NFT infrastructure, combined with an on-chain authentication data network, to build campaigns and distribute rewards to members of their community with ease. . 

Simply put, Galaxy OAT is a digital record of all the achievements the user has achieved in his daily life. 

Galaxy ID

Galaxy ID will have a mechanism to act as a LinkedIn Web 3.0 version. That is, all users on Project Galaxy have the following characteristics:

• Galaxy ID is your username and represents your multi-chain/wallet identity in Web 3.0.
• Users can set up to display logins from the Web 3.0 world and showcase their achievements.
• Galaxy ID can be used as an ID in Metaverse. Developers can integrate the Galaxy ID toolkit and provide customized features to users based on their digital credentials. Or simply enrich the user profile in the product. This allows them to redefine the future of Web 3.0.

Currently, more than 800,000 users have registered Galaxy ID on Project Galaxy.  

Project Galaxy's ecosystem

Up to now, Project Galaxy's ecosystem has more than 110 partners. They are using Project Galaxy as the main platform to drive users to join the community and Growth Hacking programs. Some prominent partners are Yearn Finance, Alpha Finance and Perpetual Protocol. 

In addition, the Project Galaxy platform is available on 7 blockchain platforms including Ethereum, Polygon, Binance Smart Chain , Avalanche, Fantom, Arbitrum , and Solana. Popular Web 3.0 products such as Snapshot.org, MetaFactory, Collab Land, NFTrade, CyberConnect and others also integrate with Project Galaxy to leverage the power of the credential data network. 

Partners that integrate with Project Galaxy features: Collab Land, Snapshot, MetaFactory, CyberConnect, Protocol Labs, Filecoin, NFT Storage... 

The development team, the investor of the Project Galaxy project

Development team

Harry Zhang – Co-Founder & Project Lead of Project Galaxy: Before founding Project Galaxy, Harry was COO and co-founder of Lino Network and DLive.tv (which was merged into the BitTorrent ecosystem in 2019). At Lino and DLive.tv, Harry has led the team to develop and create products that serve over 10 million monthly active users. Harry Zhang is also data product manager at Club Factory (the number 3 e-commerce platform in India). Here Harry designed a supply chain and data feed system. He holds a bachelor's degree in computer science and statistics from UC Berkeley. 

Charles Wayn – Co-Founder and Chief Strategy Officer of Project Galaxy: Prior to founding Project Galaxy, Charles was the co-founder and CEO of DLive.tv. Following the merger of DLive.tv into BitTorrent in 2019, Charles became vice president of interactive entertainment at BitTorrent, managing multiple online businesses including DLive.tv, DLive Protocol, and Two App. Charles holds a bachelor's degree in economics from UC Berkeley. 

Investors

Recently, Project Galaxy has raised 10 million USD in a fundraising round led by 2 famous investment funds, Multicoin Capital and Dragonfly Capital. The round also included participation from Spartan Group, Sky9 Capital, Coinbase Ventures, C-Squared Ventures, Lattice Capital, Mirana Ventures, Folius Ventures, Solana Ventures, Jump Capital, Alameda Research, Sfermion, HashKey, 6th Man Ventures, Zee Prime Capital, Smrti Labs, Mask Network, Draper Dragon, Injective Protocol, Cultur3 Capital, Matrixport Ventures, APE NFT, Republic Fund, Shima Capital, Evernew Capital and many other Web 3.0 leaders. Additionally, Binance Smart Chain's US$1 billion growth fund also invests in Project Galaxy.

Project Galaxy Partner

Currently, Project Galaxy has joined the "Polygon LAND Grant Program" of Dvision Network in order to reach strategic partners in Polygon's ecosystem. At the same time, this will help open the door for them to Metaverse by allocating NFT LAND through the bridge built by Polygon. 

Project Galaxy development roadmap

Currently, the development roadmap of Project Galaxy has not been revealed, the TraderH4 team will update as soon as there is an official announcement from the project.

Overview of the GAL . token

What is GAL Token?

GAL is the native token of the Project Galaxy project, some information about this token is as follows:

• Ticker: GAL
• Blockchain Network: Ethereum (ERC-20)
• Total Supply: 200,000,000 GAL
• Circulating Supply: 33,161,800 GAL
• Initial Market Cap: 49,742,700 USD

Functions of the GAL . token

Governance : The GAL is used for voting and governance in the Project Galaxy DAO. GAL token holders have the ability to control the revenue of the Project Galaxy platform and community coffers.

App Module Fee Payment : Developers who wish to use Project Galaxy's credentials authentication data through the app module will have to pay a platform fee calculated in GAL. The majority of fees will go to Project Galaxy community coffers and managers. Currently all costs of using app modules are waived during beta testing.

Payment for Credential Oracle Engine and Credential API : Developers pay Project Galaxy to query credentials data through Credential Oracle Engine and Credential API. Currently all query fees are waived during beta testing.

Digital Credentials Data Management : Managers can use the GAL to dictate the value of a credential dataset. Revenue from providing endorsement data will be split between owners and managers according to a certain percentage.

Allocate GAL . tokens

• Early Adopter Rewards: 2%, of which 50% will be distributed at TGE and the rest will be distributed 6 months after TGE.
• Public Sale: 5%, this token will be distributed evenly every week for 12 months after TGE ends.
• Growth Backer Round 1: 10.63%, these tokens will be locked for 3 months and evenly distributed every quarter for 3 years.
• Growth Backer Round 2: 10.14%, of which 12% of GAL tokens will be unlocked at TGE, the rest will be distributed equally every quarter for 3 years.
• Advisors & Partners: 6.23%, of which 12% of GAL tokens will be unlocked at TGE, the rest will be distributed evenly every quarter for 3 years.
• Marketing: 15%, of which 20% of GAL tokens will be unlocked at TGE, the rest will be distributed equally every quarter for 3 years.
• Foundation: 10%, of which 18% of GAL tokens will be unlocked at TGE, the rest will be distributed equally every quarter for 3 years.
• Team: 15%, this token will be locked for 3 months and evenly distributed every quarter for 5 years.
• Treasury: 20%, of which 12% of GAL tokens will be unlocked at TGE, the rest will be distributed equally every quarter for 5 years.
• Ecosystem: 6%, no GAL token allocation time.

Where can GAL tokens be bought and sold?

Currently, GAL tokens are not listed on any exchanges. However, investors can participate in the Project Galaxy Token Sale on the CoinList platform from February 10, 2022 to February 15, 2022.

You may be interested: Details of Project Galaxy's GAL token sale event on CoinList .

The future of Project Galaxy and should I invest in GAL tokens?

Project Galaxy is building an open infrastructure to provide on-chain credentials with Plug-and-play NFT modules. The protocol allows anyone to create, distribute, and gamify NFTs based on on-chain records. 

Besides, developers can build incentive programs to attract users. For individuals, they can issue and claim NFTs supported by partners on the Project Galaxy platform.

In addition to hosting one of the largest databases of Web 3.0 logins, Project Galaxy provides application modules to help Web 3.0 projects build best-in-class products. 

Example : Projects can reward community members for increased engagement using the Project Galaxy OAT module. Besides, developers can also use Galaxy's credentials data to build custom voting systems. Or use community-controlled modules to help kickstart network effects.

With Project Galaxy's technologies, it created a new use case for existing NFTs in the cryptocurrency market, rather than just being collected for personal taste. The project is turning NFTs into identity tools that aim to empower developers and investors to build a better community together.

If investors are interested in Project Galaxy, they can follow the project at the following official information channels:

Website | Twitter | Telegram | Discord | Medium

summary

Thus, TraderH4 has just provided readers with all information about the Project Galaxy project and the GAL token. Although, the technologies and features that Project Galaxy provides help diversify the applications for NFT, as well as contribute to the development of the NFT market. However, investors need to do thorough research to be able to make the right decision for themselves.

• CoinList announces that it will open the sale of Project Galaxy's GAL token next week (February 17, 2022).
• Binance, Galaxy Digital secretly bid on Celsius assets