Entering the Web3 era, many leading platforms enable community building and management in the Web3 ecosystem, one of which is Galxe.
Today, Galxe is the world’s leading Web3 credential data network known for its uniqueness.
Galxe is an innovative platform that provides facilities for users to build, participate, and manage their own communities with an approach that is in line with Web3 principles.
To understand what Galxe is and who founded it, its uniqueness, how it works, and its main features, check out the full review below!
What is Galxe and Who is the Founder?
Quoting galxe.com, Galxe is Web3’s credential data network. Built on an open and collaborative infrastructure, Galxe helps Web3 developers and projects leverage digital credential data and NFTs to build better products and communities.
Credential data is scattered across closed databases owned and authorized by applications and institutions.
This results in a fragmented landscape and not open to the individuals who should have that data or the applications that need it.
Galxe aims to address this problem by empowering developers through a network of aggregated credentialed data on Web3.
In terms of founders, Harry Zhang, one of the initiators and project leaders at Project Galaxy, now Galxe, had key roles as Chief Operating Officer (COO) and founder at Lino Network and as co-founder of DLive.tv.
During his leadership at Lino and DLive, Harry oversaw teams and successfully created products that served over 10,000,000 monthly active users.
Before Galxe, Harry served as Head of Data Products at Club Factory, where he designed a data-driven supply chain and recommendation system from scratch.
Harry’s undergraduate degree is in computer science with a minor in statistics from UC Berkeley. From 2016 to 2017, he served as the Association of Chinese Entrepreneurs (ACE) President at UC Berkeley.
Charles Wayn, also Galxe’s co-founder and strategist, was previously the founder and CEO of DLive.tv.
After joining BitTorrent in 2019, Charles was VP of Interactive Entertainment at BitTorrent, leading several stream business units, including DLive.tv, DLive Protocol, and Two Apps.
From 2017 to 2018, Charles Wayn held the position of President of the Association of Chinese Entrepreneurs (ACE) at UC Berkeley. Charles Wayn contributed significantly to developing streams and interactive entertainment projects.
Why is Galxe Unique?
Quoting coinmarketcap.com, organizations are increasingly turning to centralized credential management solutions in the face of data security demands.
Currently, credentials are stored in closed, controlled databases and require permissions from applications, governments, and financial and credit institutions.
This results in a fragmented landscape, not open to those who should have the data or the applications that need it.
Galxe aims to address this problem by providing a public and collaborative credential data network.
This network allows Web3 developers to use credential data to create better products and more engaging communities.
Project Galaxy aims to build a public collaborative data network accessible to all Web3 developers.
The project provides the infrastructure for community members to create and contribute digital credentials to the data network. Credential curation can be done through multiple sources using the Project Galaxy infrastructure.
Curators can request on-chain credentials through subgraphic queries or static snapshots. Galxe has connected with data sources such as Twitter and Github to obtain off-chain credentials.
Curation can be performed when credentials are used in the Galaxy App Module, Credential Oracle Engine, and Credential API, which contribute to the Galaxy Credential Data Network.
With a network of data used by individuals, Galxe encourages more people to join in the curation of their network.
Galxe provides Application Modules, Credential Oracle Engine, and Credential API for developers to utilize credential data in building better products and communities.
The Application Module use cases include Galxe’s OAT (On-chain Achievement Token), NFT Loyalty Program, Hacking Growth Campaign, Paid Communities, Customized Governance, and more.
Developers can also leverage the Oracle Credential Engine and Credential API for customized use cases, such as credit scoring and Sybil attack prevention algorithms.
Getting to Know Credentials in Project Galaxy
Quoting gate.io, simply put, credentials are proof of a user’s actions online. For example, in the crypto world, a credential could be a user’s loan record from Compound.
Today, in the Web 2.0 era, credential data is commonly stored in private databases, often owned by applications, financial institutions, governments, or even regulatory bodies. While the use cases of credential data are diverse, access is often limited.
The core of Web3 technology is decentralization and the use of open-source data. Therefore, Project Galaxy is committed to advancing this principle by curating credential data and bringing it into the network where it can be accessed by the individuals and brands that need it most.
With this approach, the project seeks to bring wider and more open access to credential data, in line with the fundamental principles of Web3.
How Does Galxe Work?
The main goal of Project Galaxy is to provide developers and data consumers with the necessary tools to manage digital credentials and send data into the network.
Project Galaxy’s architecture is based on the roles of two main parties, contributors and users, who actively contribute data to the network.
Curators are also given the option to use various data sources in compiling credentials. Contributors curated two types of credentials: on-chain credentials in subgraph queries and static snapshots and off-chain credentials derived from integrated data sources such as Snapshot.org.
Galxe’s data network of credentials is fully open source, helping contributors who compile datasets to be incentivized in the form of GALs every time a project uses the dataset they contributed.
With this approach, Project Galaxy seeks to encourage active participation and contribution from its community.
Galxe Key Features
The Galxe architecture features unique and innovative features that set this web3 credential project apart. Some of these features, as quoted from gate.io, include:
Credential Data Network
The core of the Galxe architecture is a resilient open-source credential data network. This network accepts both on-chain and off-chain digital callbacks. As such, curators on the network are incentivized to contribute data from multiple data streams.
Curators can contribute their data from any of the seven on-chain ecosystems in Galxe’s portfolio for on-chain digital credentials through their wallet shots or graph queries.
Curators who wish to contribute with their off-chain credentials can use data sources integrated into the project, such as GitHub, Twitter, and Discord.
By actively contributing to the network, they can receive rewards whenever their data sets are utilized in the Galxe Credential Oracle Engine, Credential API, and Application Modules.
Introducing GAL Token & Tokenomics
As is common in decentralized projects, the Galxe DAO has a built-in token called $GAL. All $GAL holders own voting rights in crucial decisions within the Project Galaxy DAO.
Some of these decisions involve setting platform fees and managing the funds stored in the Galaxy Community Treasury.
In addition, GAL tokens also serve as a means of payment for products within the platform, such as the Galaxy Oracle Engine and Credential API.
Launching the first airdrop of GAL tokens earlier this year was a step towards rewarding the Galxe user community.
All these elements together create an ecosystem where GAL token holders have a significant role in determining the direction and policies of the project.
GAL Tokenomics
The total supply of GAL tokens has been set at 200,000,000. A total of 8% of the total supply was unlocked at the project launch on May 5, 2022.
The portion is split into two parts, with 2% for early adopter rewards and 6% allocated to two launch pools, at 1.5% and 4.5%, respectively.
The rest of the crypto token supply will be distributed through various channels, including public sales, partners, and growth support rounds.
These allotment plans are scheduled to be opened over a period of time with a predetermined frequency. This clarifies the mechanism for distributing GAL tokens to various parties in the project ecosystem.
Galxe Launches Galxe AI Chatbot
Galxe AI, powered by Alva, presents three AI agents, each specialized to meet specific user needs, namely:
1. Project Researcher
This feature eases the process of in-depth research on Web3 projects. Users can ask their questions, and in response, they will receive a comprehensive overview sourced from official channels, third-party analytics, mainstream media, and specialized platforms that might otherwise be overlooked.
2. Airdrop Hunter
This tool informs users about upcoming airdrops, provides participant guidance, and validates the event’s authenticity.
3. Market Analyst
This agent provides users with analytical insights, visualized data, and market trends, allowing them to make more informed decisions in the dynamic Web3 environment.
Conclusion
To conclude, Galxe is a unique, open, collaborative, and secure credential data network in the Web3 era. With its decentralized foundation and utilization of blockchain technology, Galxe ensures the security of users’ digital identities and facilitates innovative credential management.
Its uniqueness lies in its open approach to credential data, allowing contributions from multiple sources.
With a robust network, Galxe empowers developers and contributors to contribute and manage credentials, creating a more trusted and open environment.
To keep up with the exciting developments in the Galxe world, it is highly recommended to keep an eye on this project.
With a vision to give users full control over their identities and credentials, Galxe embodies the transformation of security and data management in the dynamic Web3 era.
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