1. Project Introduction:
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.
GAL is the native utility token that is used for: Governance, Paying for Application Module Fee, Paying for Galaxy Oracle Engine and Galaxy Credential API, Curating Digital Credentials
2. Project Information:
Project Name: Project Galaxy (GAL)
Project Website: https://galaxy.eco/
Block explorer: https://etherscan.io/token/0x5fAa989Af96Af85384b8a938c2EdE4A7378D9875
Reminder: This information is provided by the project team. Strictly for references only.