Galxe Price

Galxe (GAL), formerly Project Galaxy, is a Web3 network based on an open and collaborative infrastructure for reference data launched on the Binance Launchpool on April 28, 2022. Galxe’s infrastructure allows Web3 developers and projects to benefit from reference data by developing innovative products and strong communities.

Data curators play a central role in this network. They earn rewards when users use their references in the reference modules of Project Galaxy, the Credential Oracle Engine, and the Credential API. These components contribute to the creation and provision of reference data, which can improve the quality and functionality of Web3 projects.

The foundation of Galxe is a sophisticated system that enables the connection and interaction between different network actors. The reference modules, the Credential Oracle Engine, and the Credential API form the pillars of this infrastructure. They promote creating and disseminating high-quality reference data, essential for developing and improving Web3 products.

Galxe shows its potential by successfully integrating and rewarding data curators, creating a comprehensive and high-quality data pool. This data pool benefits Web3 developers and creates a dynamic and innovative environment for developing new products and services.

Galxe’s open and collaborative infrastructure allows Web3 developers to use reference data to create better products and more attractive communities. For this purpose, Project Galaxy provides its infrastructure and community members who can develop digital references and add them to the data network.

The curation of references can occur through multiple sources, including subgraph queries or static snapshots. Galxe has connected with data sources such as Twitter and Github for off-chain references. It makes a variety of data accessible to the network, providing a rich and diverse data environment for Web3 development.

Galxe distributes rewards when references are used in its application modules, the Credential Oracle Engine and the Credential API. It contributes to Galxe's Credential Data Network and encourages active community participation. This combination of rewards and usage opportunities makes Galxe a valuable resource for developers and data curators.

The GAL token ensures the network’s security, and is available as an ERC 20 and a BEP 20 token. The ERC 20 token is built on the Ethereum blockchain, which in 2022 transitioned to a more energy-efficient Proof of Stake (PoS) consensus (Ethereum 2.0). The BEP 20 token is built on the BNB Chain and is secured by the Tendermint Byzantine Fault Tolerant (BFT) consensus mechanism.

The tokenomics of Galxe (GAL) are designed to attract developers and data curators. The GAL token is available as an ERC 20 and a BEP 20 token based on the Ethereum blockchain and the BNB Chain. It gives users flexibility and access to two strong and established blockchain networks.

Rewards for data curators are a central part of Galxe's tokenomics. Data curators receive rewards when users use their references in the reference modules of Project Galaxy, the Credential Oracle Engine, and the Credential API. It encourages active community participation and creates a comprehensive and high-quality data pool.

Finally, the demand for GAL tokens could increase due to the various application possibilities that Galxe offers developers. This could increase the attractiveness of the GAL token as an investment and support its long-term value appreciation.

The story of Galxe began with its co-founders, Harry Zhang and Charles Wayn. Zhang, the project leader of Project Galaxy, has an impressive professional career. He was COO, co-founder of Lino Network, and co-founder of DLive.tv. In these companies, he led teams and developed products used by more than 10 million active users per month.

Zhang also worked as Head of Data Product at Club Factory, designing and building a data-oriented supply chain and recommendation system from scratch. He has a bachelor's degree from UC Berkeley in Computer Science with a minor in Statistics. He was the president of the Association of Chinese Entrepreneurs (ACE) at UC Berkeley from 2016 to 2017.

Charles Wayn, the strategic leader of Project Galaxy, also has an impressive career behind him. Before founding Project Galaxy, he was co-founder and CEO of DLive.tv. After DLive merged with BitTorrent in 2019, Wayn became VP of Interactive Entertainment at BitTorrent and led several streaming business areas, including DLive.tv, DLive Protocol, and the Two App. From 2017 to 2018, he was also president of the Association for Chinese Entrepreneurs (ACE) at UC Berkeley.