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.
Here’s why investing in GAL token could be a good idea:
In a time when companies increasingly trust centralized solutions for managing references, Galxe challenges a fragmented landscape that is not open to those who truly own the data or the applications that need them. By providing a public and collaborative reference data network, Galxe offers a solution to this problem.
Another factor that makes Galxe a good investment is the opportunity for data curators to generate rewards. By using references in the reference modules of Project Galaxy, the Credential Oracle Engine, and the Credential API, they can help build Galaxy's Credential Data Network while generating income.
In addition, Galxe offers developers a variety of application possibilities. These include Galxe OATs (On Chain Achievement Tokens), NFT loyalty programs, growth hacking campaigns, gated communities, custom governance, and more. Developers can also use the Credential Oracle Engine and the Credential API for advanced custom use cases such as credit rating and algorithms to prevent Sybil attacks.
Investing in Galxe could also be attractive due to the network’s security. The GAL token is available as an ERC 20 and a BEP 20 token, based on the Ethereum blockchain and the BNB Chain. These blockchain technologies have proven to be secure and stable, which can strengthen investor confidence.
While we cannot provide a precise GAL price prediction, several factors could positively influence the price forecast of Galxe (GAL):
Galxe offers an innovative solution to the problem of data security and management in the digital world. Galxe represents an alternative solution to existing centralized systems by providing a public and collaborative reference data network.
Galxe rewards data curators, encouraging active participation and engagement from the community. It could lead to a stronger user base and increased demand for GAL tokens, positively impacting the GAL to USD price.
Galxe offers a variety of application possibilities for developers. Developers can create innovative and attractive products and services using the Credential Oracle Engine and the Credential API. This could increase the demand for GAL tokens and thus raise the price of Galxe crypto.
The Galxe network’s security, ensured by using Ethereum and BNB Chain technologies, could strengthen investor confidence and increase the price of GAL.
Galxe has several partners that contribute to the development and growth of the project. One of these partnerships is with Twitter and Github, two prominent platforms in social media and software development. These partnerships allow Galxe to collect off-chain references and offer users a greater variety and quality of data.
In addition, Galxe launched on the Binance Launchpool, suggesting that it has a partnership or at least a strong relationship with Binance, one of the largest and most well-known cryptocurrency exchanges in the world.
The collaboration with such high-profile partners speaks to the credibility and potential of Galxe. These partnerships could advance the project, increase its visibility, and strengthen its confidence.
Galxe (GAL) offers a range of application possibilities for developers and data curators. For developers, Galxe provides application modules that allow them to utilize reference data to develop better products and communities.
The use cases for the Galxe application modules include, among other things, On Chain Achievement Tokens, NFT loyalty programs, growth hacking campaigns, gated communities, custom governance, and much more.
Developers can use Galxe's Credential Oracle Engine and Credential API to create advanced custom use cases. These include, for example, credit rating systems and algorithms to prevent Sybil attacks.
For data curators, Galxe offers the opportunity to earn rewards by curating and providing data. Participants earn rewards when users utilize the references provided by the curators in the various modules of Galxe. It encourages an active and engaged community and creates a comprehensive and high-quality data pool.