Galxe GALPrice $ 0.904

Galxe is the leading Web3 credential data network in the world. A collaborative credential infrastructure enabling brands and developers to engage communities and build robust products in Web3. Galxe helps Web3 developers leverage credential data to build better products and communities. At the same time, data curators contribute to the credential data network while earning income once the data is utilized.

Galxe aims to build an open and collaborative credential data network that is accessible to all developers in Web3. Galxe provides the infrastructure for community members to curate and contribute digital credentials to the data network. Galxe infrastructure supports curating credentials through multiple data sources. For on-chain credentials, curators can contribute with subgraph queries or static snapshots. For off-chain credentials, Galxe has integrated with data sources such as Snapshot.org, Twitter, and Github.

By contributing to Galxe’s Credential Data Network, curators are rewarded when credentials are used in Galxe’s Application Modules, Credential Oracle Engine, and Credential API. Because there are users consuming (paying to use) data in the ecosystem, this incentivizes more users to come curate for the data network.

Galxe aims to build a permissionless, open, and collaborative credential data network. The GAL token is an essential component to such infrastructures as it functions as the governance token, incentivizes user participation, and serves as the primary payment token of the Galxe ecosystem. Here are the utilities of GAL:

• Governance: GAL is used for voting & governance in Galxe DAO
• Paying for Application Module Fee: Developers who aim to utilize Galxe’s credential data through Application Modules will be subject to a Platform Fee which is charged in GAL
• Paying for Galxe Oracle Engine and Galxe Credential API: Developers pay GAL to query the credential data through Galxe Oracle Engine and Galxe Credential API
• Curating Digital Credentials: Curators can utilize the GAL token to signal a credential data set’s value.