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What is Galxe (GAL)?

Galxe basic info

Name:Galxe
Ticker:
Introduction:

What Is Galxe?

Galxe is a web3 data network, launched by the Project Galaxy Team in January 2023. It aims to redefine community building through a community-driven approach built on Ethereum. Galxe emerged as a solution to the fragmented and closed nature of credential data, which was typically segregated and stored in permissioned databases, making it challenging for individuals to provide or prove their credentials swiftly. Galxe strives to create an open and collaborative Credential Data Network in web3, enabling developers to construct products, engage communities, and leverage open credential data. It boasts over 11 million unique users and partnerships with over 2,700 entities, including industry giants like Polygon, Optimism, and Arbitrum.

Galxe allows users to curate and contribute to its Credential Data Network, offering both on-chain and off-chain credentials. On-chain credentials encompass contributions to subgraph queries and static snapshots, while off-chain credentials integrate with external data sources like Twitter and Github. This innovative platform is distinct from traditional web2 community building platforms like Reddit and Discord, as it offers ownership of data and content, open-source code, rewards for participation, and decentralization, ensuring resistance to censorship and enabling easier participation.

Resources

Official Documents: https://docs.galxe.com/

Official Website: https://galxe.com/

How Does Galxe Work?

Galxe operates through a multifaceted approach, utilizing application modules, credentials, an API, and an oracle to simplify digital credentials and enhance web3.0 adoption. It provides developers with tools to build communities and incentivize user participation through features like watch-2-earn, engage-2-earn, and play-2-earn, integrated with the Chingari app. The platform’s architecture is based on contributors and users who contribute their data to the network, with contributors curating both on-chain and off-chain credentials. The Galxe Credential Data Network is open-source, incentivizing contributors with GAL tokens each time projects utilize their datasets.

One of Galxe's notable features is the Galaxy Passport, a universal digital ID allowing users to enter Web3.0 applications without revealing personal information to third parties. Another significant component is the Galxe Credential Oracle Engine and Credential API, which play a crucial role in supporting customized use cases and reducing monitoring and integration costs and technical barriers. Galxe’s application modules, such as OAT, enable developers to reward users for completing specific actions and issue GALXE NFTs to incentivize users and enhance engagement.

What Is GAL Token?

GAL is the utility token of Galxe, serving multiple purposes within the ecosystem. It acts as the governance token, allowing holders to participate in decision-making processes around platform fees and managing treasury funds within the Galxe DAO. It is also used to pay for products like the Galaxy Oracle Engine and Credential API within the platform. GAL can be staked to participate in governance services, and users receive rewards and pay fees with this digital asset. The tokenomics of GAL are structured with a total supply of 200 million, with different allotments scheduled to unlock over a period of time at a determined frequency.

Galxe's Impact on Finance

Galxe is making substantial strides in the financial sector by decentralizing access to credential data and enabling a more efficient and inclusive market with added ROI support. It empowers developers to create responsive and inclusive communities and users to secure profits by engaging in various features offered by the platform. By providing a decentralized and open alternative to the traditional centralized systems, Galxe is fostering community consensus and governance in distributed networks, allowing projects to integrate decentralized voting systems into their processes.

Galxe’s innovative approach to digital credentials and its extensive ecosystem, including partnerships with 841 networks and over 5 million active users, position it as a pivotal player in the blockchain and financial ecosystem. Its commitment to decentralization, interoperability, and community governance is contributing to the advancement of web3.0 technologies and blockchain adoption, making it a wise and impactful addition to the space.

What Determines Galxe's Price?

The price of Galxe, like other cryptocurrencies, is influenced by a myriad of factors, reflecting the dynamics of the cryptocurrency market. The cryptocurrency price in the future is primarily determined by supply and demand dynamics, market sentiment, and external market conditions. When the demand for Galxe increases, perhaps due to positive cryptocurrency news or favorable cryptocurrency trends, the price is likely to rise. Conversely, negative news or trends can lead to a decrease in demand and subsequently, a drop in price. Cryptocurrency analysis and cryptocurrency charts are essential tools for enthusiasts and experts alike, providing insights into potential price movements and aiding in crypto portfolio management.

In addition to market dynamics, the price of Galxe is also impacted by its inherent features and developments within its ecosystem. Developments such as partnerships, enhancements, and adoption in new sectors can positively influence the price. Cryptocurrency enthusiasts and the crypto community keenly follow such developments, as they can indicate the potential of the token as the best crypto investment for 2023 and beyond. Furthermore, the availability of Galxe on leading exchanges such as Bitget can affect its price, as it becomes more accessible to a broader audience, potentially leading to increased demand. Cryptocurrency experts and influencers play a significant role in shaping opinions and perceptions about Galxe, influencing buying decisions and impacting its price in the cryptocurrency market.

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Current price:
All-time high:$18.26
All-time low:$0.8658

GAL supply and tokenomics

Circulating supply:7,949,539 GAL
Total supply:80,200,207.93 GAL
Max supply:0 GAL
Market cap:$15.37M
Fully diluted market cap:$155.09M
Token allocation:
Treasury
20.00%
Marketing
15.00%
Team
15.00%
Others
13.00%
Growth Backer Round 1
10.63%
Growth Backer Round 2
10.14%
Foundation
10.00%
Advisors & Partners
6.23%
Tokenomics:

Uniqueness

To meet the demands of data security, organizations are increasingly turning to centralized credential management solutions. Today, credentials are stored in closed databases controlled and permissioned by applications, governments, and financial and credit institutions. As a result, there is a fractured landscape that is not open to those who truly own the data or the applications that require it.

The aim of Galxe is to address this problem by providing a public and collaborative credential data network that will enable Web3 developers to use credential data to create better products and more engaging communities.

The goal of Project Galaxy is to establish a public, collaborative data network that is available to all Web3 developers. The infrastructure for community members to create and contribute digital credentials to our data network is provided by the project. Curation of credentials may be accomplished using several sources through Project Galaxy's infrastructure.

On-chain credentials can be requested by curators using subgraph queries or static snapshots. Galxe has connected with data sources such as Twitter and Github for off-chain credentials.

Curation may be rewarded when credentials are utilized in Galaxy's Application Modules, Credential Oracle Engine, and Credential API by contributing to the Galaxy's Credential Data Network. Because the data network is being used by individuals, this encourages even more people to join the curation for our network.

Galxe provides Applications Modules, Credential Oracle Engine, and Credential API for developers to leverage credential data to build better products and communities.

Use cases of Application Modules include: Galxe OATs (On-chain Achievement Tokens); NFT Loyalty Programs; Growth Hacking Campaigns; Gated Community; Customized Governance and more.

Developers can also utilize the Credential Oracle Engine and Credential API for more customized use cases such as credit scoring and sybil attack prevention algorithms.

Links

Buy Galxe for $1Buy GAL now

What is the development prospect and future value of GAL?

The market value of GAL currently stands at $15.37M, and its market ranking is #1027. The value of GAL is not widely recognized by the market. When the bull market comes, the market value of GAL may have great growth potential.

As a new type of currency with innovative technology and unique use cases, GAL has broad market potential and significant room for development. The distinctiveness and appeal of GAL may attract the interest of specific groups, thereby driving up its market value.

What will the price of GAL be in 2025?
Based on GAL's historical price performance prediction model, the price of GAL is projected to reach $1.97 in 2025.
What will the price of GAL be in 2030?
In 2030, the GAL price is expected to change by -4.00%. By the end of 2030, the GAL price is projected to reach $2.9, with a cumulative ROI of +61.86%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of GAL and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is GAL worth investing or holding? How to buy GAL from a crypto exchange?

If you want to buy GAL, the following information may be helpful for your investment decisions:
In the last 7 days, the price of GAL has fallen by -34.81%, leading to negative returns for most GAL investors. The market is currently pessimistic about the price trend of GAL.
It is important to note that the current price of GAL has retreated by -89.41% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether GAL is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in GAL or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of GAL, if you want to buy or sell GAL, you can consider Bitget for your trading needs. The best place to buy GAL is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Galxe has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Galxe. Here's a step-by-step guide on how to buy Galxe on Bitget.

How to get Galxe through other methods?

Using cash to buy Galxe is not the only way to obtain Galxe. If you have the time to spare, you can get Galxe for free.
Learn how to earn Galxe for free through the Learn2Earn promotion.
Earn free Galxe by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Galxe airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Galxe through Bitget Convert, Bitget Swap, or spot trading.

What is Galxe used for and how to use Galxe?

The use case of Galxe may expand as the crypto market and the project itself develop. Currently, you can use GAL to achieve the following goals:
Arbitrage by trading GAL: Since GAL is a frequently traded cryptocurrency, the price of GAL is always fluctuating. Earn more GAL by buying low and selling high on the exchange. Bitget spot market provides a variety of GAL trading pairs to fully meet your needs.
Earn by staking GAL: You can also generate income through financial management methods such as staking GAL or lending GAL. Bitget Earn offers a variety of financial products designed to help you earn more income from your GAL.
Send or pay GAL: If you want to give GAL to your friends, a charity, or a fundraiser, or you want to pay someone with GAL, you can quickly and easily send GAL to the recipient through their payment address.
You can also go to the official website of the Galxe project to learn more about the use cases of GAL. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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