GalaxePrice

(GALAXE)

Galxe is a leading Web3 credential data network built on an open and collaborative infrastructure. It helps Web3 developers and projects leverage digital credential data and NFTs to create enhanced products and stronger communities. The platform tackles key issues such as fragmented blockchain networks, the lack of interoperability, the limited utility of digital assets beyond speculation, and the decentralization of credential data often held by centralized entities. By enabling the use of both on-chain and off-chain data sources, Galxe empowers users to build a verifiable reputation in the digital space.

The G (Gravity) token serves multiple crucial purposes within the Galxe ecosystem and the new Gravity Chain. It enables governance, allowing G holders to vote on proposals and influence the project's future development and community treasury funds. Users can stake G tokens to contribute to network security, earning rewards and accessing exclusive features. G is also used for payments, covering application module fees for products like the Galxe Oracle Engine and Credential API, as well as for Galxe's own applications such as Galxe Quest and Galxe Passport. Significantly, G functions as the native gas token for Gravity Chain, facilitating all on-chain transactions on this Layer-1 blockchain. It further incentivizes ecosystem growth and supports DeFi activities like liquidity provision.

The total supply of G tokens, which originated from the GAL token, is fixed at 200,000,000. The transition from GAL to G involved a migration at a 1:60 conversion rate, designed to unify the token across the broader Galxe ecosystem and the newly launched Gravity Chain. The initial distribution and vesting schedule for the original GAL token allocated portions to early adopters, a launchpool event, and the ecosystem, with these allocations unlocking over a predetermined period. This structure aims to foster sustainable growth and manage the token supply effectively.

Galxe was founded in 2021 by Charles Wayn and Harry Zhang. These co-founders spearheaded the project's inception, guiding its development from a Web3 credential data network to its current expanded form, which now includes the Gravity Chain and the G token. Their leadership has been instrumental in shaping Galxe's vision and technological advancements in the Web3 space.

Gravity (G) is the new universal token for Galxe, replacing the previous GAL token. This migration is a strategic move to integrate G as the native token for the Gravity Chain, which is a new Layer-1 omnichain smart contract platform. The Gravity Chain is specifically engineered to deliver enhanced scalability, efficiency, and secure cross-chain interactions. The primary objectives of this migration were to streamline the user experience, achieve seamless integration of the token across both the core Galxe ecosystem and the Gravity Chain, and simplify its overall recognition and utility.

Galxe's roadmap emphasizes continuous improvements in its testing infrastructure, backend development, outreach initiatives, and tool offerings. For the G token and Gravity Chain specifically, recent and upcoming developments highlighted include the launch of 'Portals', 'Tokenomics 2.0 & new markets for $SQD', and 'Real-time data streams & surprises on Solana'. Future plans also outline the introduction of features such as infinite secondary collections, Stickerbooks, Autograph badges, support for ENS names on community pages, and webshop coupon badges. These planned developments demonstrate a commitment to expanding functionality, user engagement, and the utility of the Galxe ecosystem.