Galxe is the leading platform for building web3 community. With over 10 million unique users to date, Galxe has propelled the growth of Optimism, Polygon, Arbitrum, and more than 2100 partners with reward-based loyalty programs. Start your campaign today at galxe.com!
What are digital credentials
Credentials live in our day-to-day life. An example of on-chain credentials would be the record that you borrowed money from AAVE and Compound but never got 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 and 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. Applications 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. This 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. Galxe aims to solve this problem using an open and collaborative credential data network which will help Web3 developers leverage credential data to build better products and more engaging communities.
Galxe aims to build an open and collaborative credential data network that is accessible to all developers in Web3. We provide the infrastructure for community members to curate and contribute digital credentials to our data network. Our 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, we have 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 our ecosystem, this incentivizes more users to come curate for our data network.
To this day, over 2,100 partners have already launched over 10,000 campaigns on Galxe. here are some case studies to provide more info:
- Bootstrapping Community: How Hashflow used Galxe to turbo-charge to $600M of trading volume
- Customized Voting System: How Galxe Powered Customized Voting Strategy for MVB Program
- Loyalty Program: Yearn Finance Introduces Woofy NFT on Galxe
- Growth Hacking Campaign: Galxe 2021 End-of-year Rave
With Galxe Credentials, we will be able to build a Web3 DID system that not only gives you a multi-chain identity but also lets others know more about you through your past achievements/credentials. Projects like Cyberconnect, Unipass, and Salad Venture are already utilizing Galxe Credentials within their products and we look forward to exploring this more in the future.
Build with Galxe
If you want to contribute credentials to the Galxe data network, or leverage Galxe Credentials in our product/community, you can apply for access for Closed Beta here. We are also hiring! If you are interested in becoming part of the history of building Web3 Credential Data Network, check out our job openings here. We are super excited for the journey ahead.
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For developers & NFT artists who are interested in working with Galxe’s partner network, join our Discord community and learn more.