Can the DID project Galaxy rise with Web3 and DAO?

Credentials exist in people's daily life, and one of the best examples of on-chain certificates is that users can borrow money from AAVE and Compound but never leave a record of being liquidated. Pool contributions, or on-chain voting history count as proofs.

Not to mention, in the past, all behavioral data in Web2 will be included in credentials. Many Internet companies run algorithms on people’s credentials so that enterprises can send accurate advertisements to people. This is the key factor for the importance of credentials. Because it provides very complete user information.

However, with the progress and rise of Web3 and DAO, the behavioral data generated by new users will explode, which will also provide the necessary infrastructure to help these new users establish crucial digital credentials, and the world's largest The Web3 credential data network Project Galaxy, built on an open and collaborative infrastructure, can help Web3 developers and projects leverage credential data to build more complete products and communities.

Today's credential data is segregated in closed repositories owned and licensed by applications, government organizations, and financial and credit institutions. not open. The emergence of Project Galaxy is to complete the vision of an open and collaborative credential data network, which will help Web3 developers use credential data to build better products and more attractive communities in the future.

  1. Project overview

Project Galaxy is equivalent to building a system based on Web3 DID (Decentralized ID). Simply put, our current identity system is split. There are different identity systems on different centralized websites. Every time a user uses a new After the website, you need to register an account (such as WeChat, Taobao).

With the gradual increase of identities, it also brings a lot of inconvenience to users. Even though many websites can already provide third-party logins, the user's identity system has not yet been unified, which means that we cannot rely on only one account and only one identity. system to log in to all websites and collect all information and credentials.

Therefore, Project Galaxy needs to collect and manage credential data through multiple data sources in both on-chain and off-chain dimensions, aiming to build an open and collaborative credential data network that all developers in the Web3 center can access. Network, the platform provides the infrastructure for community members to manage and contribute digital credentials to the data network.

And the platform's infrastructure supports managing credentials through multiple data sources. For on-chain credentials, issuers can provide subgraph queries or static snapshots, while for off-chain credentials, integration with data sources such as Snapshot.org, Twitter, and Github.

Contributing to the Data Network through Galaxy Credentials, issuers are rewarded when the Credentials are used in Galaxy's Application Modules, Credential Oracle Engine and Credential API, as there are users consuming (paying for) data in the ecosystem, This incentivizes more users to manage the data network.

Just a few examples:

• Project A wants to hold an online meeting of B. In order to encourage users to actively participate, all participants in this B meeting will be eligible to go to Project Galaxy to receive an event commemorative NFT to increase the user participation rate.

• In order to reward those users who have used the C exchange, the C project party made a C medal on the Project Galaxy platform. When the user's transaction amount reaches 1,000 US dollars, they can go to Project Galaxy to receive a C medal.

• In order to encourage everyone to use the D network for transactions on Opensea, the D project held an event on Project Galaxy: users who have traded five times can receive a mysterious treasure box NFT on Project Galaxy. The more treasure boxes you receive, in the end these treasure boxes can be synthesized into more advanced 3D Genesis Creator NFT on Project Galaxy.

In other words, Project Galaxy is an on-chain credential-based platform that all blockchain projects can join. In order to encourage their users to participate more in their own projects, these projects will create some reward NFTs for users on the Project Galaxy platform, and users who own these NFTs can be considered active users.

   2. Application scenarios

Galaxy ID:

If a user has a Galaxy ID, which is equivalent to a common user name, as long as the credentials are connected in series through the Galaxy ID, a credential data network will be formed. After the user links his wallet to the official website, the Galaxy ID will be generated. According to historical behavior, tags such as " Uniswap V3 trader" and "OpenSea trader" are automatically generated, and users can also display all credentials collected in the Web3 world through Galaxy ID, such as NFT badges.

All processes can be controlled by the user's own identity, whether it is authentication or authorization, rather than being controlled by a centralized organization.

Under normal circumstances, users need to pay Gas fees to claim and mint NFTs. However, in order to support event issuers to pay transaction fees on behalf of users, Galaxy realizes Gas-free minting. Developers are also rewarded when credentials are used in Galaxy's application modules, credential oracle engine, and credential API, that is, when data is used by users.

Developers can integrate the Galaxy ID toolkit and provide users with exclusive features based on their on-chain credentials. At present, projects such as Cyberconnect, Unipass and Salad Venture have been used in their products.

Build and distribute NFT badges:

Project Galaxy provides developers with application modules, a credential oracle engine, and a credential API, and developers can leverage credential data to build better products and communities. To put it simply, other projects can build and distribute NFT badges through Project Galaxy's NFT infrastructure and on-chain credential data network to manage community members.

It is officially called Galaxy OAT (on-chain achievement token), which records all the achievements of the user. For example, Salad Ventures cooperates with Project Galaxy to allow Scholar to cast a new NFT badge every time he achieves an achievement, and then through GalaxyID As shown, let the user's Gamefi identity throughout their entire Web3 life.

If it is applied in the game, a new badge can be minted every time the user reaches a certain winning rate; if it is applied in the transaction, it can be minted as a Uniswap V3 trader badge, or which tickets have been purchased in real life , What activities have participated in, can be cast into NFT badges to display, Galaxy said that Galaxy OAT is the digital certificate of all the achievements of the user in his life.

It is not difficult for developers to create a process. Event developers only need to submit parameters and badge design to get creation events and credentials for users to participate. All OAT NFT data will be stored in NFT.Storage supported by IPFS and Filecoin superior.

   3. Token model

Token name:

GAL token

Total:

200 million pieces

use:

Governance, paying for application modules, paying for Galaxy Oracle Engine and Galaxy Credential API, curating digital certificates

Token distribution:

The proportion of the ecosystem, 6%, the proportion of early participants, 2%, the proportion of CoinList public offering, 5%, the proportion of the first round of growth supporters, 10.63%, the proportion of the second round of growth supporters, 10.14%, the investment Consultants and partners account for 6.23%, marketing accounts for 15%, foundation accounts for 10%, teams account for 15%, community treasury accounts for 20%

   4. Investment institutions

Project Galaxy announced the completion of $10 million in financing, including many well-known investors, led by Multicoin Capital and Dragonfly Capital, Spartan Group, Sky9 Capital, Coinbase Ventures, Binance Smart Chain Growth Fund, C-Squared Ventures, Lattice Capital, Mirana Ventures , Folius Ventures, Solana Ventures, Jump Capital, Alameda Research and others participated in the investment.

Funds will be used to expand support for multiple data sources, continue to build application modules, and develop credential data networks.

   5. Team introduction

Project Galaxy was founded by Harry and Charles, who each served as President of the Berkeley Association of Chinese Entrepreneurs (ACE) from 2016 to 2018.

Harry Zhang is the co-founder and project leader. In the past, he served as co-founder of DLive, co-founder and chief operating officer of Lino Network. He has multiple identities as product manager, data scientist, and individual investor.

Twitter:

https://mobile.twitter.com/harryzhanghz

And Charles Wayn is the co-founder and chief strategy officer of Project Galaxy. Charles used to be the co-founder and CEO of DLive.tv, and after DLive was merged into BitTorrent in 2019, Charles became the vice president of BitTorrent Interactive Entertainment. Chess management includes DLive.tv, DLive Protocol and Two App in multiple streaming business units within the company.

   6. Community situation

Twitter:

https://mobile.twitter.com/ProjectGalaxyHQ

28.8k followers

Discord:

https://discord.com/invite/projectgalaxy

144,824 followers

Telegram:

https://t.me/ProjectGalaxyHQ

27,602 followers

Medium:

https://blog.galaxy.eco

8.2k followers

   7. Liancha review

Currently, the project supports seven public chains: Ethereum , Polygon, Fantom, Solana, BNB Chain, Arbitrum and Avalanche. According to official data, more than 100 partners have launched more than 500 activities on Project Galaxy so far.

Today's DID projects, such as Civic and uPort, all focus on anonymous verification and security, and the application scenarios are mostly in the physical world. Whether it is anonymous age verification by machines or KYC verification for users, it is the best way to focus on user security. represent.

Most of the experience that Project Galaxy brings to users tends to be a combination of identity authentication and NFT. Coupled with many application modules of Project Galaxy, it provides a more complete infrastructure for the chain world, allowing many developers to carry out Galaxy OATs and NFT Loyalty programs, custom governance, and more strategies to manage the community.

Text/Chole