What is Project Galxe?

What Is Galxe?

Galxe, a leading web3 community building community-driven platform built on Ethereum, was launched by the Project Galaxy Team in January 2023. Galxe states that it has over 11 million unique users and more than 2,700 partners, including industry titans Optimism, Polygon, Arbitrum, and more.

Source: https://galxe.com/

The Project Galaxy team identified the problem that currently credential data is segregated and stored in closed, owned and permissioned databases,thus making it difficult or slow for individuals to provide and/or prove their credentials when needed. 

“We are building the infrastructure that powers credential data networks”

- Harry Zhang, Co-Founder Project Galaxy

The Galxe Solution’s goal is to provide an accessible “open and collaborative Credential Data Network” in web3 to help web3 developers build products, engage in communities and leverage on open credential data. The Galxe infrastructure allows users to curate and contribute to Galxe’s Credential Data Network. Galxe has both on-chain and off-chain credentials: On-chain credentials include contributions to subgraph queries and static snapshots. Meanwhile, off-chain credentials would be integrated with external data sources, such as Twitter, Github etc. 

Source: https://docs.galxe.com/ 

Galxe has a growing number of users who are consuming and paying to use the data, therefore growing the Galxe ecosystem. Curators are further incentivized with rewards when credentials are used in Galxe’s Application Modules, Credential Oracle Engine, and Credential API.

The GAL Token

In order to build a permissionless, open, and collaborative credential data network, Galxe utilizes the GAL token. GAL is the governance token of Galxe, and GAL token holders can vote in Galxe DAO around issues such as platform fees and managing treasury funds. In the future, Curators can also use the GAL token to signal a credential data set's value by purchasing a stake in it, which can then be sold back to the bonding curve for GAL. As of time of writing, this is still under development. 

GAL is also the main payment token of the Galxe ecoystem, and it will be used to pay for Application Module Fees, as developers have to pay a fee to utilize Galxe's credential data. Developers will also have to pay GAL to query credential data through the Galxe Oracle Engine and Galxe Credential API. At the time of writing, all Application Module fees and query fees are waived during beta testing. 

What Makes Galxe Different From Web2 Community Building Platforms?

Galxe is different from web2 community building platforms (such as Reddit, Discord etc.) due to:

1. Ownership: Users own their data and content as Galxe is built on the Ethereum blockchain,
2. Transparency: The code is open source,
3. Rewards: Users are rewarded for participation, such as Galxe Loyalty Points, On-chain Achievement Tokens (OATs) NFTs, Exclusive Content, Voting Power, Whitelist spots giving users early access to new projects and products, etc.
4. Decentralization: Galxe is not controlled by one party, hence the platform will be more resistant to censorship, while enabling easier participation.   
    

What are the Key Features of Galxe?

The following are a few key features of Galxe currently. Note: as Galxe is live and already in operation, it is highly likely to add more features as it evolves. 

Galxe’s Passport

An important key to Galxe’s appeal is Galxe's Passport, where users will get a unique Galxe Passport Soulbound Token – non-transferable tokens unique to the individual who holds them. 

Source: https://galxe.com/passport 

The idea is that users would want to have the Galxe Passport as a means to accrue, store and share all the user’s digital credentials from Galxe’s collaborative credential data network. Galaxy argues that these digital credentials are tamper-proof and verifiable, which makes them a valuable way for users to show proof of their skills, knowledge, and experience in a central location – particularly useful in a digital and evolving world. 

Galxe Passport is a powerful tool for community building, as it allows users to share their credentials and interests with each other, which in turn can also help them to connect with others who share their interests, or are looking for people with certain skillsets. 

Spaces

Spaces are verified landing pages on Galxe. This means that users and/or companies are verified as hosts, and in turn the hosts own and control their data and identities in Spaces, and they can control who sees and/or contributes to their content. These Spaces can be used for collaboration, information sharing, loyalty programs or forums just for hanging out. 

Source: https://galxe.com/spaces 

Galaxy provides owners of Spaces moderation tools for managing their communities, analytics to track growth and track audience participation, chat functions for real-time communication. 

Curators of Spaces can create campaigns within their Spaces for the followers to join, as well as publish their Mintlist, NFT Contracts and Community Leaderboard. 

Source: https://galxe.com/coingecko/campaigns 

Campaigns

Users can join campaigns and get rewards by participating and fulfilling requirements in the campaigns. Rewards can include OAT tokens, entitlement to mystery boxes, and more. 

Source: https://galxe.com/coingecko/campaign/GCu8iUUTtY 

Source: https://blog.galxe.com/galxes-new-data-dashboard-all-your-campaign-stats-in-one-place-9b9ca10497bf 

Community Engagement Example: Galxe's Holiday Campaign

For Galxe’s 2022 Holiday Campaign, Galxe utilized its Mystery Box campaign. Participants can open 15 advent calendar NFTs to win rewards from a total prize pool of $30K, including $15K GAL. Participants who successfully opened 13, 14 or 15 NFTs would be able to claim the Galxe Bronze, Silver, and Gold Galxe Boy NFT. This campaign included user engagement via partners through means, such as but not limited to, daily interactions on Discord and Twitter, swapping and staking on multiple chains etc, driving excitement around unlocking a new Mystery Box NFT every day

This campaign had over 400,000 followers, with over 780,000 NFTs minted, over USD$ 1 million traded on-chain amongst the various protocols, USD$30,000 awarded across the community, and a total of 16,341 Galxe Boys NFTs were minted. 

Source: https://blog.galxe.com/community-engagement-with-galxe-5beca514aca3 

Credentials

To date there have been over 55,700 credentials created on Galxe. Credentials can include but are not limited to the following examples: 

• Certifications of skills – e.g. coding Ethereum contracts (Galxe’s Shadowy SuperCoder) , or proof of understanding of user support in the Galxe Ecosystem (Galxe’s Space Cadet Certificate);

• Milestone achievements – e.g. successfully bought NFT 10 times on Opensea (OpenSea’s OpenSea Legend Buyer);

• Brand Awareness – e.g. brand campaign to promote use of products (Polygon’s Polygon Genesis Creator);

• Contributor – e.g. users who contributed to writing a story (Magipop Dao’s Contributor of Earth 2026 Stories);

• Participant – e.g. participants who have voted (Galxe’s Snapshot Voter), competition participation (SynFutures’s Valentines Day Winners);

• Quiz credentials – e.g. participants can attempt multiple choice / yes and no quizzes to earn credentials on campaigns (Galxe’s Quiz: Galxe Quiz) etc.

Source: https://galxe.com/credentials

Rewards

Galxe has an array of rewards that brands can utilise to excite and engage their community.

Source: https://blog.galxe.com/master-the-best-strategies-for-web3-growth-with-galxe-6f290e91ef77

Some of their notable rewards are; 

• Galxe Loyalty Point System Points – a code-free solution for hosts to issue Loyalty Points for completion of tasks;

• Galxe OATs (On-Chain Achievement Tokens);

• NFTs – specially designed for promoting NFT projects;

• Mystery Boxes – allowing for randomized tiered rewards, which can include NFTs, tokens etc.

• Token Rewards – these come from an allocated prize pool which can be distributed via Raffle or First-Come-First Serve basis;

• Allowlists – that rewards active participants; etc. 

Galxe OATs (On-Chain Achievement Tokens)

Users are able to create their own Galxe OATs (On-Chain Achievement Tokens) buy uploading an image onto the host rewards dashboard. Theses OATs can be used rewards for followers who have joined, participated, and completed their tasks as part of campaigns, which can include completion of challenges, quizzes, attending a podcast etc.

Users are allowed to transfer or sell their OATs token – think of it as selling NFTs or collector’s badges, however the record of who completed the actual task is stored on Galxe’s Credential Data Network. 

NFT Mintlist

Galxe also provides the NFT Mintlist, which is a marketing tool for upcoming (and existing) NFT projects to build hype, allow for early registration for the NFT drops, and grow its community base. 

Source: https://galxe.com/explore#mintlist 

For brand new NFT projects, Galxe’s Mintlist provides a platform to immediately promote themselves to Galxe’s existing community of users, as well as use Galxe’s existing community building features to attract and retain followers, such as issuing Loyalty Points and rewards Mystery Box, OAT Tokens etc.

Conclusion: Thoughts on Galxe

The Galaxy Project has created a platform that has grown to an impressive count of over 11 million active users, over 2,700 projects and partnerships with major crypto brands on its platform – making Galxe a force to reckon with. 

At present, Galxe’s unique selling points lies in its Galxe’s provisions of a Decentralized Identify Solution through its Galxe Passport which allows web3 participants to build their own on-chain open and verifiable identity. Galxe has curated over 55,700 existing credentials on its Credential Data Network – which would take time for competitors, who want to compete in the Digital Credentials Space, to catch up to. 

This existing active ecosystem is a great platform for brands to work on top of, create and build large community and Loyalty programs. Galxe has created a dashboard for Hosts to upload, customize and promote their campaigns, as well as detailed report with analytics and insight on the popularity of the campaigns, followers interaction and points accumulation. Followers would be keen to use Galxe as the Spaces are verified – thus minimizing the risk of scams, and can easily join the campaigns where they can not only earn credentials on, but also earn rewards such as the OAT NFT Badges which they can attempt to sell off. 

Galxe still faces typical web3 disruptive challenges to stay unique and relevant. The Galaxy Project Team has continuously strived to innovate and provide more products and features for its users. It appears in this growing web3 space, there are endless possibilities to see how the Galxe platform will grow. 

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Sarah P.

Sarah is an ex-analyst who loves spreadsheets. She now enjoys non-competitive idle games and boardgames, and specializes in GameFi for CoinGecko.