You are currently viewing Project Galaxy (GAL): Review, Analysis, Details |  by Chicagoglobaltimes |  Coinmonks |  Sep 2022

Project Galaxy (GAL): Review, Analysis, Details | by Chicagoglobaltimes | Coinmonks | Sep 2022

What is Project Galaxy?
Project Galaxy is one of the largest web3 network credentials in the world, built on an open and institutional infrastructure.

Project Galaxy helps developers and organizations use NFTs and digital credentials to build better products and communities on Web3.

Project Galaxy What’s special?
To understand things Project Galaxy is one of the Web3 network credentials The most important thing to find out is what is a “digital credential” or a digital credential?

What is a digital ID?
An example of an online credential would be a record that you borrowed money from AAVE VÀ Connection but was never liquidated. Your contribution to the protocol’s liquidity pool when it first launched or your online voting history are the credentials.

All of your behavioral data in Web2 is logged in, and companies like Google and Facebook use login algorithms so they can send targeted ads to you.

Credentials are important because of the high degree of use they provide.

With the development of Web3 and DAO, there will be an explosion of behavioral data generated by new waves of users. This will provide the necessary infrastructure to help these new users create digital credentials of paramount importance.

Problem with the current credential system
Credentials today are stored in closed databases owned and authorized by applications, government agencies, and financial institutions.

Individuals who need to own the data or applications that need it will be affected. Project Galactica aims to solve this problem by using an open and collaborative credential network. This network will help Web3 developers use their credentials to create better products and more engaging communities.

Solution from Project Galaxy for Credential system
Project Galaxy provides community members with the infrastructure to manage and transmit digital credentials to the project’s data network.

Project Galaxy infrastructure supports credential management for multiple data sources:

To enter the network, managers can contribute using subgraph queries or static snapshots.
For offline login, Project Galaxy is integrated with data sources such as Snapshot.org, Twitter, and Github.
By contributing to the Galaxy Credential Data Network, Curators will be rewarded when credentials are used in the Galaxy App Module, Credential Oracle Engine, and Credential API.

Since there are users who use (pay per use) data in the Project Galaxy ecosystem, this encourages more users to manage the data network.

Project Galaxy Team
GARRY CHANG, co-founder and project leader: Prior to founding Project Galaxy, Harry was co-founder and COO of Lino Network and C-Founder of DLive.tv (merged into the BitTorrent ecosystem in 2019). At Lino and DLive, Harry led the team and built a product that serves over 10 million monthly active users.

CHARLES WAYNE, Co-Founder & Head of Strategy: Prior to founding Project Galaxy, Charles was co-founder and CEO of DLive.tv. Following the merger of DLive with BitTorrent in 2019, Charles became Vice President of Interactive Entertainment at BitTorrent.

Partners of Project “Galaxy”
So far, over 110 partners are using Project Galaxy as their primary platform for community engagement and growth hacks, including leading DeFi protocols such as Year Finance, Alfa Finance VÀ Perpetual Protocol.

In addition, the Project Galaxy platform is available on 7 blockchains, including: Ethereum, Polygon, Binance Smart Grid, Avalanche, Phantom, VÀ Solana Arbitum.

Popular Web3 products such as Snapshot.org, MetaFactory, Collab Land, NFTrade, CyberConnect and more also integrate with Project Galaxy to get the most out of the credential network.

Achievements of the project “Galaxy”
It has been almost 9 months since the team launched Project Galaxy in May 5th. During this time the project

150 thousand unique online users from 6 different blockchain ecosystems.
The Galaxy Credential Network currently has over 500 digital credential sets, including over 3 million users on Web3.
Over 100 projects and organizations have used Galaxy digital credentials to run over 500 campaigns.

GAL Tokenomics
Key Metrics
Ticker: GAL.
Blockchain: update,…
Contract: update,…
Token Standard: Update,…
Token type: utility, control.
In circulation: update, …
Total supply: 200,000,000 gallons.

Distribution of tokens
Ecosystem: 6%.
Early Adoption Rewards: 2%.
Public sale: 5%.
Round 1 Growth Supporters: 10.63%.
Round 2 Growth Supporters: 10.14%.
Advisors and partners: 6.23%.
Marketing: 15%.
Foundation: 10%.
Team: 15%.
Treasury: 20%.

Token use case
Governance: GAL is used for voting and governance in Project Galaxy DAO. The GAL token holder has the ability to control the amount of platform fees charged by the protocol and control the funds held in the Project Galaxy community treasury.

Application Module Pay Per Fee: Developers who wish to use Galaxy Credentials through the Application Module will pay a Platform Fee calculated in GAL.

Billing for Galaxy Oracle Engine and Galaxy Credential API: Developers pay a global address list for requesting credentials through Galaxy Oracle Engine and Galaxy Credential API. All request fees are currently waived during beta testing.

Digital Credential Management: Managers can use the global address list to signal the meaning of a set of credentials. Each set of credentials will include a revenue stream that will be prorated among the credential holders.

What is the best and safest place to get Project Galaxy (GAL) token?

The best and safest place to get Project Galaxy token is here

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