Project Galaxy (GAL)
A Web3 Credential Data Network.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 NFTs to build better products and communities.
- Project Galaxy enables curators to aggregate credentials through multiple data sources on-chain and off-chain.
- Project Galaxy empowers developers to leverage credentials through Application Modules, Credential Oracle, and Credential API.
GAL is Project Galaxy’s native utility and governance token, it has the following use cases:
- Governance: GAL token holders can vote on Project Galaxy DAO’s governance proposals.
- Paying for Fees: Developers who aim to utilize Galaxy’s credential data will be charged in GAL.
- Curating Credentials: Curators are incentivized to stake GAL token to signal a credential data sets value. Each credential data set will include a revenue stream that will be split between credential stakeholders pro-rata.
Project Galaxy consists of the following major components working in conjunction:
- Credential Data Network: Project Galaxy’s infrastructure supports curators contributing credentials through multiple data sources including:
- On-chain Credentials: Contribute data from 7 different chains with subgraph queries or wallet snapshots
- Off-chain Credentials: Contribute data through Galaxy’s integrated data sources such as Twitter, Github, or Discord
- Application Modules: Project Galaxy offers several application modules to help Web3 projects build better products and more engaging communities.
- Galaxy OAT (On-Chain Achievement Token): A solution to distribute NFT badges to communities as a record of participation in a gasless fashion.
- Galaxy NFT: Enables communities to leverage credentials with gamified NFT campaigns to better reward and engage users.
- Galaxy Vote: Enables communities to leverage credentials and credential-based NFTs on Snapshot to build a customized governance system.
- Galaxy Credential API: Developers can utilize credential data from their off-chain applications to build Web3 LinkedIn, guilds, voting infrastructure, sybil attack prevention algorithms, etc.
- Galaxy Credential Oracle: Developers can query credential data from smart contracts for customized on-chain use cases such as credit scoring, liquidity mining boost, allowlist for INO or IDO, etc.
- Galaxy ID: Galaxy ID leverages Galaxy Credentials and acts as a Web3 LinkedIn. Galaxy ID can be users’ universal username that will represent their multichain/multi-wallet identities in Web3.
- Credential Data Network: Project Galaxy’s infrastructure supports curators contributing credentials through multiple data sources including:
The project has raised a total of 10.16MM USD from 2 rounds of equity investment. The equity backers are expected to receive a total allocation of 20.77%. The project also raised 15MM USD through public sale on Coinlist, where 5% of the GAL total token supply was sold at $1.5 USD/GAL.
As at April 28th 2022, the total and maximum supply of GAL is 200,000,000 and the circulating supply upon listing will be 35,161,333 (~17.58% of the total token supply).
Key metrics (as at April 28th 2022)
| Ticker | GAL |
|---|---|
| Token Type | ERC-20, BEP-20 |
| Initial Circ. Supply When Listed on Binance | 35,161,333 GAL (17.58% of total supply) |
| Total and Maximum Token Supply | 200,000,000 GAL |
| Binance Launchpool Allocation | 3,000,000 GAL (1.50% of the total token supply) |
| Binance Launchpool Start Date | April 28th 2022 |
1. What is Project Galaxy?
Project Galaxy is a Web3 credential data network. Built on open and collaborative infrastructure, Project Galaxy helps Web3 developers and projects leverage digital credential data and NFTs to build better products and communities.
Credential data today are segregated across closed databases that are owned and permissioned by applications and institutions. This has led to a fractured landscape that is not open to the individuals who should own that data or the applications that need it. Project Galaxy aims to solve this problem by empowering developers with an aggregated credential data network in Web3.
Galaxy’s infrastructure supports curators contributing credentials through multiple data sources, including:
- For on-chain credentials, curators can contribute data from 7 different chains with subgraph queries or wallet snapshots
- For off-chain credentials, curators can easily contribute credential data with Galaxy’s integrated data sources such as Twitter, Github, or Discord
Project Galaxy also provides Application Modules, the Credential Oracle Engine, and the Credential API for data consumers to leverage credentials.
- Use cases of the Application Modules include, among other benefits, Galaxy OATs (On-chain Achievement Tokens), NFT loyalty programs, growth hacking campaigns, gated community and customized governance.
- Developers can also utilize the Credential Oracle Engine and Credential API for enhanced customized use cases such as credit scoring and sybil attack prevention algorithms.
Source: Project Galaxy
1.1 Project Galaxy's Key Highlights
- Galaxy ID: Users can display the credentials collected in the Web3 world and showcase the history of their achievements and contributions. Currently, there are more than 1.2 million users registered for Galaxy ID.
- More than 300 protocols and organizations are currently using Project Galaxy’s credential data network and application modules. In total, Project Galaxy has launched more than 2300 marketing campaigns and loyalty programs. More than 500,000 credential-based NFTs are minted every month.
- Galaxy OAT (On-Chain Achievement Token): OAT is a creative solution to distribute credential-based badges to communities as a record of participation. It is a lightweight NFT module created by Project Galaxy that enables users to mint in a gasless fashion.
- Chain-Agnostic Credential Network: Project Galaxy infrastructure is currently aggregating credentials through 7 different chains (Ethereum, BNB Chain, Polygon, Solana, Fantom, Arbitrum, Avalanche), and has integrated multiple sources such as Twitter, Discord, Github. Project Galaxy currently has more than 1500 credential data sets curated in the network, covering more than 4 million wallet addresses in Web3.
- Earn from curating data: Curators will earn revenue streams when the data they curate is utilized in Galaxy’s Application Modules, Credential Oracle Engine, and Credential API. This creates a network effect because as more credential data flows into the system, the more developers will onboard to utilize such data, and in turn incentivize more curators to contribute credentials.
- Incentivized Curation System leveraging GAL staking: Curators are incentivized to stake GAL tokens to signal a credential data set’s value. Each credential data set will include a revenue stream that will be split between credential stakeholders’ pro-rata. In the future, GAL stakers can also enjoy long-term benefits when using Project Galaxy’s Application Modules.
2. Token sales and economics
2.1 Token Distribution
| Token Name | GAL |
|---|---|
| Growth Backers 1 | 10.63% of the total token supply |
| Growth Backers 2 | 10.14% of the total token supply |
| Binance Launchpool | 1.50% of the total token supply |
| Early Adopter Rewards | 2.00% of the total token supply |
| Ecosystem | 4.50% of the total token supply |
| CoinList Public Sale | 5.00% of the total token supply |
| Team | 15.00% of the total token supply |
| Advisors | 6.23% of the total token supply |
| Marketing | 15.00% of the total token supply |
| Foundation Reserve | 10.00% of the total token supply |
| Community Treasury | 20.00% of the total token supply |
GAL token allocation
GAL token release schedule
3. Roadmap and Updates
3.1 Completed Milestones
| Completion Date | Milestone | Commentary |
|---|---|---|
| 2021 Q2 | Credential-based NFT campaign beta testing on Ethereum and BNB Chain | Medium Announcement |
| 2021 Q3 | 10k credential-based NFTs had been minted and claimed across Ethereum and BNB Chain | Tweet |
| 2021 Q3 | Project Galaxy was live on Polygon | Medium Announcement |
| 2021 Q3 | Project Galaxy announced Shadowy Super Coder Campaign | Medium Announcement |
| 2021 Q4 | Project Galaxy was live on Fantom, Arbitrum, and Avalanche | Medium Announcement |
| 2021 Q4 | Galaxy Dashboard Launched | Medium Announcement |
| 2021 Q4 | Galaxy OAT (On-chain Achievement Token) Launched | Medium Announcement |
| 2022 Q1 | Project Galaxy was live on Solana and launched 2022 is gonna be SOL Cool campaign | Medium Announcement |
| 2022 Q1 | Project Galaxy reached 500K Monthly Credential-based NFTs minted | Medium Announcement |
| 2022 Q1 | Project Galaxy credential data network reached over 1K credential datasets covering 4MM+ users | Medium Announcement |
| 2022 Q1 | A total of 300 protocols are using Project Galaxy infrastructure | Medium Announcement |
| 2022 Q1 | Galaxy ID registered user count surpassed 1MM | Medium Announcement |
3.2 Updated Roadmap
Q2 2022
- Galaxy DAO Launch Governed by GAL Token Holders
- Discord Bot for Auto Discord AMA Participants Credential Creation
- Campaign Geofencing Feature
- Galaxy Website UI Upgrade
Q3 2022
- Application Modules Dashboard V2 Launch
- Credential Oracle Launch
- Credential Data Tag System Launch
Q4 2022
- Permissionless Credential and Campaign Creation
- Private Credential Data Support
- Snapshot.org OAT Campaign Plugin
Q1 2023
- Galaxy Credential Network V2 Launch with Credential Curation System
3.3 Commercial and Business Development Progress
- “Shadowy Super Coder” NFT Pack with $300MM Worth of Perks：Project Galaxy partners with Tenderly, Alchemy, Polygon, Gitcoin, Ankr, Parsiq, Torus, Quicknode, Curvegrid, and OneKey to offer “Shadowy Super Coder” NFT Pack to over 100,000 eligible blockchain developers.
- Customized Governance Strategy on Snapshot：Enables users to participate in governance voting with NFTs collected on Project Galaxy.
- The Defiant Community Rewards Program is launched on Project Galaxy with Metafactory & Viral Loops.
- Project Galaxy 2021 End-of-the-year Rave: Join the Holiday Treasure Hunt campaigns hosted by Yearn Finance, Alpaca Finance, Perpetual Protocol, Moonpot, zkLink, Hashflow, Woo Finance, Impossible Finance, Vera, Kaco Finance, Naos Finance, and Divergence Protocol.
- CoinList Takes Its First NFT Collection to the Galaxy.
- CoinGecko Introduces “DeFi 101” NFT Campaign on Project Galaxy.
- Project Galaxy Presents 2022 is gonna be SOL Cool: A Multichain Feast with over $1MM Prize Pool, hosted by Galaxy, powered by Solana, featuring 27 top-notched protocols in the Solana universe.