Project Galaxy is a Web3 credential data network built on open infrastructure and has good composability.
Table of contents
- What is Project Galaxy?
- Project Galaxy Highlights
- Overview of the GAL token
- Project team, investors & partners
1. What is Project Galaxy?
Project Galaxy has the ambition to help developers and organizations take advantage of authentic data from the crypto market and NFTs, bring good products to users and develop a stronger community when fully connected. with Web3.
Also, data curators (aka curators) will be rewarded when credentials are used in the Galaxy App Module, Oracle Credential Engine, and Credential API.
2. Project Galaxy highlights
Touching the need for credential shortages
Credential data today is segregated on closed databases, and owned and authorized by applications, government entities, and financial and credit institutions. This will cause information to be scattered, making it very difficult for ordinary people or developers with a need for that information to reach.
Project Galaxy solves this problem well by using an open credential data network, making it easy for developers to get data for their products. In addition, Galaxy's infrastructure has mechanisms to enable users to contribute information through a variety of data sources, including:
- For on-chain credentials, users can contribute using subgraph queries or wallet snapshots.
- For off-chain credentials, users can easily contribute data using Galaxy's built-in sources like Snapshot.org, Twitter, and Github.
Motivation model for curators
Each credential dataset will include a revenue stream that will be prorated among the credential holders. The manager can buy shares of the credential dataset from its respective association curve.
3. Overview of the GAL token
Specifications of GAL
- Basic information about GAL Token:
- Token Name: GAL token
- Ticker: GAL
- Token Type: Governance, Utility.
- Total Supply: 200,000,000 GAL.
GAL Token Allocation
A total of 200,000,000 GAL will be distributed as follows:
- Ecosystem (6%) + Rewards (2%) + Foundation (10%) + Marketing (15%): 33%.
- Token Sale (Investors): 25.77%. Consists of:
- CoinList Public Sale (5%).
- Growth Backer Round 1 (10.63%).
- Growth Backer Round 2 (10.14%).
- Community Treasury: 20%.
- Team: 15%.
- Advisors & Partners: 6.23%.
GAL Token Release Schedule
The token payment schedule will be as follows:
- Ecosystem (6%): All liquidity will be created at TGE.
- Early Adopter Rewards (2%): Full liquidity will be generated at TGE. 50% of the tokens will be issued at TGE and the rest will be distributed after 6 months.
- CoinList Public Sale (5%): Will be distributed evenly every week for 12 months from TGE.
- Foundation (10%): 18% will be vesting at TGE, followed by 3 years of vesting quarterly.
- Marketing (15%): 20% will be vesting at TGE, followed by 3 years of vesting quarterly.
- Growth Backer Round 1 (10.63%): 3 cliff months starting with TGE, then 3 years vesting quarterly.
- Growth Backer Round 2 (10.14%): 12% will be vesting at TGE, followed by 3 years of vesting quarterly.
- Community Treasury (20%): 12% will be vesting at TGE, followed by 5 years vesting quarterly.
- Team (15%), 3 months cliff starting from TGE, then 5 years vesting every month.
- Advisors & Partners (6.23%): 12% will be vesting at TGE, followed by 3 years of vesting quarterly.
GAL Token Use Case
GAL Tokens are an integral component of the project infrastructure, encouraging user participation and serving the payment purposes for the ecosystem, specifically as follows:
- Governance: GAL token will be used for voting and voting in Project Galaxy DAO. GAL token holders will have control over the amount of transaction fees they receive from the protocol. In addition, they also have control over the funds held by the Project Galaxy Community Treasury.
- Application Module fee payment: Developers wishing to use Galaxy's authentication data through application modules (application module - help encapsulate data associated with a specific task) will need must pay the platform in GAL token. Most of the fees will go back to the curators/curators, and the Galaxy Community Treasury will take the rest.
- Billing for Galaxy Oracle Engine and Galaxy Credential API: Developers will need to pay for querying Galaxy authentication data through the Galaxy Oracle Engine and the Galaxy Credential API application programming interface. Query fees will be free during Beta testing.
- Credential Management: Regulators can leverage the GAL token to signal the value of a data validator. Each set will include revenue cash flow, which will more specifically be split between the credential holders proportionally.
How to earn and own GAL Token
To own the GAL token, if you are the curators and contributors of data (Curators), you can buy shares of credentials (credentials) early and sell when the demand for that information set increases to receive GAL tokens.
4. Project team, investors & partners Project Galaxy
Project Galaxy project team
Project Galaxy team has 2 Co-founders, Harry Zhang and Charles Wayn with different expertise.
Project Galaxy project investor
Top investors also participating in this round are Coinbase Ventures, Binance Labs, Alameda Research, Solana Ventures, Spartan, and more.
The new funding will be used to grow the credential data network, expand support for multiple data sources, and build powerful application modules to help projects leverage credential data. digital reality more effectively.
Project Galaxy Partner
Project Galaxy is currently partnering with Division Network as part of Polygon's LAND Grant Program.
This is a program aimed at on-boarding the strategic partners of Dvision Network. They initiated the “Sponsorship Program” with Polygon Studios, to engage their top partners to provide space for Web 3.0 developer teams to create NFT/Web 3.0 games/products and various valuable content in Division's Metaverse.
Project Galaxy has been granted one of the rare premium NFT LAND with the best location in Meta-City (Tokyo).
Currently, there are more than 110 projects using Project Galaxy's services as a platform to develop strongly and increase interactivity. They are all top DeFi protocols like Yearn Finance, Serum, Raydium, 1inch, Alpha Finance Lab or Perpetual Protocol.
In addition, Project Galaxy also has ecosystem-level partners such as Ethereum, Binance Smart Chain, Solana, Fantom, Avalanche, or Ethereum 2nd-tier solution Arbitrum.
