Project Galaxy is the world's largest Web3 credential data network. Built on an open and collaborative infrastructure, it helps Web3 developers and projects leverage credential data to build better products and communities. At the same time, when using credentials in Galaxy's application modules, credential oracle engine, and credential API, data stewards contribute to our credential data network while earning revenue after the data is used.
Credentials exist in our everyday life. Such as records of borrowing money from AAVE and Compound but never being liquidated. Your contribution to the liquidity pool when the protocol first launched, or your on-chain voting history are tokens. All your behavioral data in Web2 is counted into your credentials, on which companies like Google and Facebook run algorithms so they can send you targeted ads.
Credentials are important, and apps can use your credentials to calculate credit scores, find target audiences, reward community contributors, and more. With the advancement of Web3 and DAO, the behavioral data generated by new users will explode. This will provide the necessary infrastructure to help these new users establish vital digital credentials.
Credential data in today's society is segregated in closed databases owned and licensed by applications, government organizations, and financial and credit institutions. This results in a compartmentalized landscape, closed to the individuals who should own the 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 to build better products and more engaging communities.
Project Galaxy aims to build an open and collaborative credential data network that is accessible to all developers in Web3. Provides the infrastructure for community members to manage and contribute digital credentials to Project Galaxy's data network. Our infrastructure supports managing credentials through multiple data sources. For on-chain credentials, curators can provide subgraph queries or static snapshots. For off-chain credentials, Project Galaxy has integrated with data sources such as Snapshot.org, Twitter, and Github.
By contributing to Galaxy's credential data network, curators will be rewarded when the credential is used in Galaxy's application modules, credential oracle engine, and credential API. Because there are users consuming (paying for) data in our ecosystem, this incentivizes more users to manage our data network.
Since its launch, more than 100 partners have launched more than 500 activities on Project Galaxy. Some representative case studies are as follows:
Bootstrapping the community: Hashflow boosts transaction volume to $600 million with Project Galaxy
Custom Voting System: Project Galaxy supports custom voting strategies for MVB programs
Loyalty Program: YearnFinance introduces WoofyNFT in Project Galaxy
Growth hacking: Project Galaxy's end-of-2021 bash
With GalaxyCredentials, Project Galaxy will be able to build a Web3DID system that not only provides users with multi-chain identities, but also lets others know more about them through their past achievements/credentials. Projects such as Cyberconnect, Unipass, and SaladVenture already use GalaxyCredentials in their products.
If developers or projects want to contribute tokens to the Galaxy data network, or use Galaxy tokens in products/communities, they can currently apply for closed beta access.
Currently, Project Galaxy is rolling out a new feature called "Verified Spaces," which will indicate that the space has been verified by Project Galaxy. A verified checkmark means that the space is truly owned by the project's official team, or if owned by the owner themselves. Eligible partners will be able to submit an application to receive a checkmark next to their space name.
As Project Galaxy becomes increasingly permissionless, partners will be able to create spaces and events on their own, a feature that will allow users to filter and find verified partners through Project Galaxy. Project Galaxy will also track these spaces and reserve the right to revoke verified status if partners or their activities do not comply with community guidelines and values.
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