GAL Price Today
Project Galaxy price today is $5.77 with a 24-hour trading volume of $71,973,296. GAL price is down -1.2% in the last 24 hours. It has a circulating supply of 0 GAL coins and a total supply of 200 Million. If you are looking to buy or sell Project Galaxy, Binance is currently the most active exchange.
What was the highest price for Project Galaxy?
Project Galaxy hit an all time high of $18.32 on May 06, 2022 (19 days).
What was the lowest price for Project Galaxy?
Project Galaxy had an all time low of $2.30 on May 11, 2022 (14 days).
What was the 24 hour trading volume of Project Galaxy?
The 24 hour trading volume of Project Galaxy is $71,973,296.
Where can Project Galaxy be traded?
Project Galaxy is one of the leading Web3 credential data networks. 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.
What are digital credentials
Credentials live in our day-to-day life. An example of an on-chain credential would be the record that you borrowed money from DeFi lending protocols but were never liquidated. Your contribution to a protocol’s liquidity pool when it first launched, or your on-chain voting history are all credentials. All of your behavioral data in Web2 counts towards your credentials, companies like Google and Facebook run algorithms on your credentials so that they can send you targeted advertisements. Credentials are important due to the high use case they provide. Application developers can use your credentials to calculate credit scores, find target audiences, reward community contributors, etc. With the advance of Web3 and DAOs, there will be an explosion of behavioral data generated by waves of new users. Project Galaxy will provide the necessary infrastructure to help these new users build digital credentials that will be of paramount importance.
Problems with the current credential system
Credential data today are segregated across closed databases that are owned and permissioned by applications, government organizations, and financial and credit 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 using an open and collaborative credential data network which will help Web3 developers leverage credential data and NFTs to build better products and more engaging communities.
Project Galaxy Solution
Project Galaxy provides the infrastructure for community members to curate and contribute digital credentials to the Galaxy Credential Data Network. The infrastructure supports curating credentials through multiple data sources. Curators can contribute data from 7 different chains with subgraph queries or snapshots for on-chain credentials. They can also provide data from Twitter, Discord, Github, or offline events for off-chain credentials.
Project Galaxy also provides Application Modules, Credential API, and a Credential Oracle Engine to help developers leverage credential data. Use cases of the Application Modules include 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.