The web's leading coin $GAL Project Galaxy is a Web3 credential data network. Built on an open and collaborative infrastructure, Project Galaxy helps Web3 developers and projects leverage digital credential data and NFT to build better products and communities.

Project Galaxy enables curators to aggregate credentials through multiple data sources both on and off-chain. Project Galaxy enables developers to use credentials through application modules, credential prophets and APIs.

The problem Project Galaxy is trying to solve.

Our current identity system is split, with different identity systems on different centralised websites, and users need to register an account after each new website they use (e.g. Google, Amazon), which causes a lot of inconvenience as the number of identities gradually increases. Project Galaxy aims to help users solve the current problem by creating an open network of credential data.

Key highlights of Project Galaxy

Galaxy ID: users can display their collected credentials in the Web3 world, showing a history of their achievements and contributions. Currently, over 1.2 million users have registered for Galaxy ID.

More than 300 protocols and organisations are currently using Project Galaxy's credential data network and application modules. In total, Project Galaxy has launched more than 2,300 marketing campaigns and loyalty programmes. Over 500,000 credential-based NFTs are minted each month.

Galaxy OAT (On-chain Achievement Token): OAT is a creative solution for distributing credential-based badges as a record of participation to the community. It is a lightweight NFT module created by Project Galaxy that enables users to mint coins in a gas-free manner.

Chain-independent credential network: The Project Galaxy infrastructure is currently aggregating credentials through 7 different chains (Ether, BNB Chain, Polygon, Solana, Fantom, Arbitrum, Avalanche) and integrating multiple sources, such as Twitter, Discord, Github. Project Galaxy currently has over 1500 credential datasets in the network, covering over 4 million wallet addresses in Web3.

Profiting from managed data: Managers receive a revenue stream when the data they manage is used in Galaxy's application modules, Credential Oracle engine and Credential API. This will have a network effect as more credential data flows into the system, more developers will join in using it, which in turn will incentivise more curators to provide credentials.

Incentive curation system using GAL pledges: Curators will be incentivised to pledge GAL tokens to indicate the value of the credential dataset. Each voucher dataset will consist of a revenue stream that will be distributed proportionally among the voucher stakeholders. In the future, GAL pledgers will also enjoy long-term benefits when using Project Galaxy's application modules.

Project Galaxy Galaxy has raised $10.16 million through 2 rounds of equity financing. Equity investors will receive 20.77% of the total tokens. The project has also raised $15 million through a public offering on Coinlist, selling 5% of the total GAL token supply at $1.50/GAL.

We see no shortage of top industry institutions coming in: Multicoin Capital and Dragonfly Capital leading the investment, Spartan Group, Coinbase Ventures, Binance Smart Chain Growth Fund (Coinan Smart Chain Ecosystem Growth Fund), Solana Ventures, Alameda Research (SBF) and many Web3 industry leaders.

The total supply of GAL is 200,000,000, with a circulating supply of 35,161,333 at launch (approximately 17.58% of the total token supply).

GAL tokens run the entire Project Galaxy ecosystem, helping to connect and incentivise users while encouraging growth. GAL is primarily used as a governance token and can also be used as a payment token for the ecosystem.

Governance: GAL token holders can vote on governance proposals for the Project Galaxy DAO.

Payments: Developers aiming to make use of Galaxy credential data will use GAL to pay for it.

Curatorial vouchers: Curators are incentivised to pledge GAL tokens to indicate the value of the voucher data. Each voucher data will include a revenue stream that will be distributed proportionally between the voucher stakeholders. Developers needing to query our credential data via the Galaxy Oracle Engine and Galaxy Credential API will also need to pay with GAL.

Project Galaxy currently supports seven public chains - Ethereum, Polygon, Fantom, Solana, BNB Chain, Arbitrum and Avalanche. Officials say that more than 100 partners have launched more than 500 campaigns on Project Galaxy so far.

Project Galaxy roadmap

Second quarter 2022

Launch of Galaxy DAO managed by GAL token holders

Discord Bot for automated Discord AMA participant credential creation

Active Geofencing feature

Galaxy website UI upgrade

Q3 2022

Application Module Dashboard V2 released

Credentials Oracle released

Voucher data tagging system launched

Q4 2022

Unlicensed Credential and Activity Creation

Private Credential Data Support

Snapshot.org OAT activity plug-in

Q1 2023

Galaxy Credential Network V2 with credential management system released

Project Galaxy Summary.

Web3 credential data networks and DID systems are not often seen in blockchain development projects and Project Galaxy is arguably the unicorn in the space. The current Credential Data Network is certainly in its infancy in the Web3 ecosystem and has a very promising future.

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