ERC20 Token Address: 0x5fAa989Af96Af85384b8a938c2EdE4A7378D9875
BEP20 Token Address: 0xe4Cc45Bb5DBDA06dB6183E8bf016569f40497Aa5
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. GAL token holders have the ability to control the amount of the platform fee collected by the protocol, and control funds held by the Galxe Community Treasury.
- 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. The Platform Fee is set up such that every interaction with the Galxe Protocol will incur a fee in GAL. Most of the fee will go to the curators, and Galxe Community Treasury will collect the rest. Currently all Application Modules fees are waived during beta testing.
- Paying for Galxe Oracle Engine and Galxe Credential API: Developers pay GAL to query our credential data through Galxe Oracle Engine and Galxe Credential API. Currently all query fees are waived during beta testing.
- Curating Digital Credentials: Curators can utilize the GAL token to signal a credential data set’s value. Each credential data set will include a revenue stream that will be split between credential stake holders pro-rata. Curators can purchase stakes of a credential data set from its corresponding bonding curve. Because of the nature of the bonding curve(price of credential stake increases as more users purchase it), in the event a curator purchases the credential stake of a popular data set early, the cost of credential stakes will be low so its future revenue stream will be relatively high. When the price of the credential stake increases along the bonding curve, the curators can also choose to sell the credential stakes back to the bonding curve in exchange for GAL. As a result, this incentivizes curators to help identify valuable credential data sets by using GAL to exchange for credential stakes through the bonding curves. In the long term, the more credential data in the network, the more GAL will be locked in bonding curves for data signaling. Currently the curation system is still under development.
GAL has a total supply of 200,000,000 tokens. Please visit this token table for initial distribution, vesting detail and current circulating supply.
- 0xdBa0F580521968895ccA2B1FdEd2c5CD6D075882 Growth Backer Round 1
- 0xC8F03241D10CA39A64492587AA443fb5ac660870 Growth Backer Round 2 & Advisers
- 0x0ca389eb320e4EC509dde88310b3C60953721a21 Marketing
- 0x0B318030c698fd4875726F2f08714a22B8C5f769 Foundation
- 0x65f2CA02E22e3635FDeC45b5360A4bB6832625C2 Team
- 0x8793C0b5EDB1Fea27B1aAc3F6FcbabD31B5A4ee7 Community Treasury