Galxe (GAL)

Community Building and Engagement

Galxe helps projects build and grow Web3 communities by providing tools to create reward-based loyalty programs, membership cards, and credential systems. It allows projects to engage users through campaigns, quests, and gated access to exclusive content or beta tests.

Digital Identity and Credentials

Galxe offers a credential infrastructure where users can collect and store digital credentials that prove their participation or achievements across Web3 applications. The Galxe Passport acts as a universal, secure identity for users, enabling hassle-free verification and reducing the need for multiple sign-ups.

Data Network and Use of Credentials

Galxe creates an open and collaborative credential data network that developers can use to build better products. Credentials can be used for credit scoring, finding target audiences, rewarding contributors, and preventing Sybil attacks by verifying unique identities.

Developer Tools and Customization

Developers can use Galxe’s Application Modules, Credential Oracle Engine, and Credential API to create on-chain achievement tokens, NFT loyalty programs, customized governance, and growth campaigns. These tools help automate user activation, engagement, and retention.

Governance and Token Utility

The GAL token serves as a governance and utility token within the Galxe ecosystem, allowing holders to participate in decision-making and pay for application module fees.

Scalability and Cross-Chain Support

Galxe supports high-speed, scalable operations across multiple blockchains, enabling seamless user experiences and omnichain capabilities for loyalty points and credential management.

Advantages of Galxe

• Galxe is a leading Web3 platform that supports community growth and engagement through no-code, reward-based loyalty programs.
• It offers a decentralized credential data network that empowers users with control over their digital identity and data privacy.
• The platform supports multiple blockchains (15+), enabling interoperability and broad developer access.
• Galxe has a large and active user base, with over 20 million users and millions of monthly transactions.
• It provides innovative features like Galxe Passport for secure identity management and uses cryptographic verification to ensure data authenticity.
• The GAL token plays multiple roles including governance, payment for services, and incentivizing data curation.
• Galxe is developing its own Layer 1 blockchain called Gravity to improve scalability and cross-chain interactions.
• The platform is praised for its user-friendly interface, community building, and Web3 onboarding capabilities.

Disadvantages of Galxe

• Some users find the platform confusing due to its broad description and multiple functionalities.
• The GAL token has experienced price volatility and underperformance compared to some other cryptocurrencies.
• There have been reports of issues with bots and bugs affecting user experience.
• The ecosystem is still evolving, and the migration to the new Gravity blockchain may involve transitional challenges.
• Wallet compatibility and choice can vary, requiring users to research the best options for their needs.

In summary, Galxe offers a powerful and innovative Web3 credential and community platform with strong growth potential, balanced by some complexity and market volatility.

Founders of Galxe

The founders of Galxe are Harry Zhang, Charles Wayn, and Xinlu C.

• Harry Zhang: Co-founder and project lead of Galxe. He has a background in computer science and statistics from UC Berkeley and was previously co-founder and COO of Lino Network and DLive.tv.
• Charles Wayn: Co-founder of Galxe and founder of other companies like Bullet Labs and DLive. He has experience scaling blockchain-based platforms and is a recognized Web3 entrepreneur.
• Xinlu C: Co-founder and tech lead at Galxe, involved in the technical development of the platform.

Investors in Galxe

Galxe has around 30 institutional investors. Some of the notable investors include Jump Capital, Sky9 Capital, Multicoin Capital, Spartan Group, Dragonfly Capital, Unicode Digital, BluLive, Manta Network, Lattice Capital, BNB Chain, Mirana Ventures, and Matrixport Ventures. These investors have participated in various funding rounds, including a $25.2M ICO round and a $10M Series A round.

Founders and Leadership

The co-founders of Galxe are Charles Wayn, Harry Zhang, and Xinlu C. Charles Wayn is a serial Web3 entrepreneur and has been involved in other blockchain projects before Galxe.

Summary

Galxe is backed by a strong group of institutional investors and led by experienced founders, helping it grow as a leading Web3 credential data network.

Halal Status

Yes, Galxe is considered halal. It has a "Comfortable" halal rating from Practical Islamic Finance, indicating it aligns well with Islamic finance principles.

Reasoning

Galxe operates as a Web3 credential data network with a governance token that supports transparent, decentralized decision-making. It avoids interest (riba) and speculative elements commonly prohibited in Islamic finance. Its partnerships and technology focus on privacy and verifiable credentials, which contribute to its compliance with Shariah guidelines.