Binance announced the 30th project on Binance Launchpool – Project Galaxy (GAL), a Web3 credential data network. Users will be able to staking BNB, CAKE and BUSD into separate groups to farm GAL within 30 days, with farming time starting at 07:00 on April 29, 2022 (Vietnam time). Binance will then list GAL in the Innovation Zone at 17:00 on 5/5/2022 for the GAL/ BTC, GAL / BNB, GAL / BUSD and GAL / USDT.
What is Project Galaxy (GAL)?
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 NFT to build better products and communities. Project Galaxy aims to solve this problem by empowering developers with a network of aggregated credential data in Web3.
Highlights of Project Galaxy
Galaxy ID: Users can display their collected logins in the Web3 world and showcase their history of achievements and contributions. Currently, there are more than 1.2 million registered Galaxy ID users. More than 300 protocols and organizations are currently using the Project Galaxy Credential Data Network and application module. In total, Project Galaxy has implemented more than 2,300 marketing campaigns and loyalty programs. More than 500,000 won NFT based on Galaxy Credential-Based information generated each month.
Galaxy OAT (On-Chain Achievement Token – Online Achievement Token): OAT is an innovative solution for distributing credential-based badges to communities as participation profiles. It is a module NFT lightweight project created by Project Galaxy that allows users to mint NFTs with no gas fees.
Chain-Agnostic Credential Network: Project Galaxy's infrastructure currently aggregates credentials through 7 different chains (Ethereum, BNB Chain, Polygon, Solana, Fantom, Arbitrum, Avalanche) and has integrated many sources such as Twitter, Discord, Github. Project Galaxy currently has more than 1,500 managed credential datasets in the network, including more than 4 million wallet addresses in Web3.
Earn From Curating Data (Monetize data management): Managers earn money when the data they manage is used in Galaxy's App Module, Credential Tool Oracle and Credentials API. This creates a network effect because as more credential data flows into the system, more developers are involved in using that data and thereby incentivizing more managers to contribute information. more login.
Incentive selection system that leverages GAL staking: Managers are incentivized to stake GAL to signal the value of the credential dataset. Each credential dataset will include a revenue stream that will be prorated by the credential stakeholders. In the future, GAL founders can also enjoy the long-term benefits of using the Project Galaxy App Module.
GAL is Project Galaxy's native governance token, it has the following use cases:
Administration: GAL owners can vote on Project Galaxy governance proposals KNIFE.
Paying fee: Developers who want to use Galaxy credentials data will be charged in GAL.
Credential Management: Managers are encouraged to contribute GALs for signaling credential dataset values. Each credential dataset will include a revenue stream that will be split among the stakeholders proportional to the certificate.
|Growth Backers 1||10,63% total supply|
|Growth Backers 2||10,14% total supply|
|Binance Launchpool||1,50% total supply|
|Bonus for early adopters||2,00% total supply|
|System||4,50% total supply|
|CoinList Public Sale||5,00% total supply|
|Team||15,00% total supply|
|Adviser||6,23% total supply|
|Marketing||15,00% total supply|
|Reserves||10,00% total supply|
|Community Treasury||20,00% total supply|
About Binance Launchpool
- Token: Project Galaxy (GAL)
- Total Supply: 200,000,000 GAL
- Supply for Binance Launchpool: 3,000,000 GAL (1.5% total supply)
- Initial supply: 35,161,333 GAL (17,58% total supply)
- Smart Contract Address: GAL (ERC-20); GAL (BEP-20)
- Stake BNB: 2,100,000 GAL (reward 70%)
- Stake CAKE: 600,000 GAL (receive 20% bonus)
- Stake BUSD: 300,000 GAL (receive 10% bonus)
- Farm time: 07:00 on April 29, 2022 to 06:59 on May 29, 2022
This article has summarized the most basic information you need to know about Galaxy (GAL). T-REX I hope readers can grasp some of its investment potential.