GAL Galxe

Galxe Use Cases

Galxe serves multiple purposes within its ecosystem:

Community Building and Campaigns

• Quest Platform: Galxe allows Web3 projects to create communities and incentivized quests or campaigns. These campaigns attract new members and reward participants for completing tasks.
• Credential Data Network: It creates a collaborative credential data network where users can own, manage, and share verifiable credentials. These credentials are records of digital activities, such as Discord credentials, X credentials, and Telegram credentials, used in campaigns to track user actions.

Identity Verification

• Galxe Passport: The Galxe Passport securely stores identity information, enabling users to verify their identity across various Web3 applications without compromising privacy. It uses zero-knowledge proof technology to ensure secure and private management of verifiable credentials.

Governance and Payments

• GAL Token: The GAL token serves as a governance token and a payment method. It allows holders to participate in the Galxe DAO with voting rights and is used to cover fees for using the credential network, Oracle application modules, and APIs.

Ecosystem Integration

• Partnerships: Galxe has partnered with numerous leading Web3 projects and brands, providing a comprehensive platform for building and engaging Web3 communities.

Additional Features

• Galxe Compass: It offers a one-stop hub for exploring airdrop campaigns across Web3, allowing users to track active campaigns and engage in on-chain tasks.
• Credential Management: Users can import their own data and use various data sources, including on-chain footprints, Discord activities, and GitHub repo contributions, to create customized campaigns.

Galxe Overview

Galxe is a multifaceted platform that offers various features, including a credential data network, a questing platform, and a permissionless self-sovereign identity infrastructure powered by Zero-Knowledge Proof (ZKP).

Pros

• Credential Management: Galxe allows users to own, manage, and share verifiable credentials securely and privately, addressing the issue of fragmented credential data across different platforms.
• Questing Platform: It provides a platform for Web3 projects to create communities and incentivized quests, attracting new members and rewarding them with tokens, NFTs, and more.
• Interoperability: Galxe's Gravity Chain, a Layer 1 blockchain, serves as an omnichain, enabling seamless cross-chain interactions and enhanced Web3 functionality.
• Developer Tools: It offers Oracle application modules and APIs for integrating credentials into products, making it a versatile tool for developers.
• Community Engagement: Galxe+ membership service provides exclusive benefits, including AI-powered Alva membership, monthly credits, and perks, enhancing the Web3 exploration experience.

Cons

• Complexity: The platform can be confusing due to its variety of advanced functions, such as credentials, Galxe ID, and Galxe Web3 Score, which may challenge users in terms of accessibility and ease of use.
• Terminology and Structure: The questing aspect introduces its own terminology and structure, complicating the user experience for some.
• Subscription Limitations: Unused credits expire with the subscription, and there are specific limitations on using Alva AI features within Galxe+.
• Cost: There are costs associated with using Galxe, including gas fees and subscription fees for Galxe+ membership tiers.

Founders of Galxe

The founders of Galxe are:

• Charles Wayn: Co-founder of Galxe, previously co-founder and CEO of DLive, a live streaming platform built on blockchain technology.
• Harry Zhang: Co-founder of Galxe, previously co-founder and COO of Lino Network and DLive.tv. He is passionate about decentralization on the supply side and has a strong background in leveraging blockchain technology for community building and engagement.

Investors in Galxe

Galxe is backed by several prominent investors, including:

• Venture Capital Firms:

  • IOSG Ventures: An early-stage fund for decentralized protocols and companies.
  • HashKey Capital: A venture capital firm focused on blockchain and cryptocurrency investments.
  • Multicoin Capital: A thesis-driven investment firm that invests in cryptoassets.
  • Dragonfly Capital: A leading venture capital firm in the crypto and blockchain space.
  • Jump Capital: A venture capital firm that invests in early-stage companies, including those in the crypto and blockchain sectors.

• Other Notable Investors:

  • Coinbase Ventures: The venture arm of Coinbase, one of the world's leading cryptocurrency exchanges.
  • Binance Labs: The incubator and venture arm of Binance, a major cryptocurrency exchange.
  • The Spartan Group: A venture capital firm that invests in early-stage companies, including those in the crypto and blockchain sectors.
  • Shima Capital: A venture capital firm focused on early-stage blockchain and crypto investments.
  • Solana Ventures: The venture arm of Solana, a blockchain platform.
  • Mirana Ventures: A venture capital firm that invests in early-stage companies, including those in the crypto and blockchain sectors.

These investors have contributed to Galxe's funding rounds, helping the project achieve significant milestones in its development and growth.

Halal Status of Galxe

• Halal Status: Yes
• Reason: Galxe is not a cryptocurrency token itself but a decentralized super app and web3's largest on-chain distribution platform. It does not have a direct Shariah compliance status like individual tokens. However, its utility and function do not inherently conflict with Islamic finance principles, making it generally acceptable for use by those adhering to Shariah guidelines.

Key Points to Consider

• Platform vs. Token: Galxe is a platform, not a token, so it doesn't have a halal status in the same way tokens do.
• Shariah Compliance: The platform's use does not inherently violate Islamic finance principles.
• Token-Specific Compliance: Individual tokens listed or used on Galxe may have their own Shariah compliance status, which should be checked separately.