Gravity (G) and Galxe (GAL): A Synergized Web3 Future

As the number of blockchains, protocols and decentralized apps (DApps) keeps growing, the issues of user identity management and inter-platform authentication are becoming increasingly relevant. Managing web3 identities and identifying promising reward and airdrop opportunities is no longer a trivial task for end users, and for brands, onboarding quality users and running effective loyalty programs have also become increasingly challenging in today’s complex and competitive web3 world

Back in 2021, a decentralized web3 credential management solution, Project Galaxy, was first conceptualized to address the complexities of user identity management in the increasingly sophisticated blockchain environment. Project Galaxy was rebranded to Galxe (GAL) in 2022 as the scope and scale of the project's operations expanded. In June 2024, the project team celebrated another pivotal event in the platform's history — the launch of the Gravity Alpha Mainnet. This blockchain network adds a truly multichain dimension to Galxe's products in the areas of identity management, loyalty and community-building solutions, and on-chain reputation management.

Key Takeaways:

• Galxe (GAL) is a multichain platform that offers users, brands and developers innovative products for managing web3 credentials.

• Gravity (G), an omnichain network launched by Galxe, supports the platform's solutions across many Ethereum virtual machine (EVM)–compatible blockchains.

• Galxe's original token, GAL, was migrated to Gravity's G token in July 2024, with G becoming the unified native token of the entire Galxe ecosystem, used for application and gas fee payments, governance and staking.

What Is Galxe?

Galxe (GAL) is a decentralized platform that offers omnichain solutions for web3 credential management, loyalty program development and user onboarding, on-chain reputation scoring, reward programs discovery and generative AI (GenAI)–supported web3 research. The project aims to provide a collaborative credential data network whose users can easily create and manage their decentralized identities (DIDs) across many blockchain networks and apps. 

The Galxe Identity Protocol underpins Galxe's credential data network. At the same time, its multichain functionality is powered by the Gravity blockchain — a network designed for mass adoption by web3 users, brands and developers.

While some of the platform's credential services are focused on web3 end users, Galxe also offers modular solutions for brands in the areas of marketing and loyalty program development. Galxe's application modules allow developers to easily deploy turnkey solutions to onboard users, run loyalty programs and distribute rewards.

Additionally, Galxe offers a GenAI tool, Alva, to help users stay up-to-date with news and developments in the web3 industry and crypto markets.

The core elements of the Galxe ecosystem were first conceptualized in 2021 when two California-based entrepreneurs, Charles Wayn and Harry Zhang, founded Project Galaxy. The Project Galaxy team successfully integrated more than 10 blockchain networks before rebranding the platform to Galxe in late 2022. In mid 2024, the Galxe project took its multichain focus to a new level by launching the Gravity blockchain — a Layer 1 platform supporting cross-chain operations across multiple networks. The project's main cryptocurrency, GAL, was also migrated to G, the native crypto of the Gravity blockchain, in July 2024.

Galxe Infrastructure

Galxe Identity Protocol

Powered by zero-knowledge (ZK) proof technology, the Galxe Identity Protocol’s permissionless environment is designed to help users create, manage and share their web3 credentials securely and privately. The protocol has four main actors — Credential Holders, Issuers, Verifiers and Credential Type Designers — and is operated by smart contracts and SDK tools to issue or verify credentials off-chain.

Web3 projects are typically the entities that act as Issuers and Verifiers of decentralized credentials based on the protocol. For instance, a crypto trading platform may verify and issue credentials to participants in its loyalty campaigns. End users then become Holders of these decentralized credentials.

At the moment, Galxe itself performs the Credential Type Designer role. However, additional protocol actors might design and deploy custom credential types in the future.

Thanks to the use of ZK proofs, digital identity credentials managed via the Galxe protocol allow web3 users to completely own their data and choose which parts of it to share with external platforms. For example, if you're a gamer who owns assets, points and on-chain achievement tokens within a specific gaming environment, you can choose which bits of your in-game data to share with advertisers. Instead of being exploited by advertisers and having your data harvested for free, as typically happens in Web 2.0, you can choose to share your information, or certain parts of it, in exchange for appropriate rewards from advertising brands and platforms.

Gravity

While the Galxe project has always had a multichain focus, its cross-chain capabilities were further boosted by introducing Gravity, an omnichain network that supports the Galxe Identity Protocol and its applications across different decentralized platforms. Gravity is envisioned as a settlement layer for the protocol's transactions across different blockchains. Based on the Arbitrum Nitro stack, the Gravity chain's Alpha Mainnet was launched in June 2024. The chain's final mainnet is slated for launch in 2025.

Gravity uses ZK proof technology and a proof of stake (PoS) block validation model. The platform is designed to support multiple EVM-compatible blockchains and make cross-chain transaction settlement as efficient and affordable as possible.

Some typical use cases for Gravity include:

• Balance abstraction. A Gravity-based wallet can consolidate users' balances from multiple chains and apps for seamless funds management.

• Chain-agnostic intent-based transactions. Intent-based transactions are growing increasingly popular in the crypto trading space. They allow users to declare their intent to carry out a particular operation (e.g., a token swap), and the system calculates the optimal routes and sources to complete it. Gravity users can execute intent-based transactions without worrying about the underlying chains on which their intended operations will be executed.

• Gas fee optimization. By using transaction batching and gas fee sponsorship, Gravity helps minimize network fees paid by users.

• Omnichain loyalty points. Galxe operates a loyalty points management app, Galxe Quest, that lets brands manage their loyalty points fully on-chain.

Galxe Services

Galxe Quest

Galxe Quest is the platform's loyalty program development and management solution for brands. It allows web3-focused businesses to deploy blockchain-based loyalty programs easily, with no coding required. Using Quest, brands can target users through detailed on-chain analytics, streamlined user onboarding and cross-chain incentive schemes. Developers can also automatically update users' credential data, such as points or badges earned, using the Galxe Credential API.

There are also benefits for end users, who can choose which parts of their on-chain information are shared with participating brands.

According to Galxe, more than 5,700 brands and over 22 million users have used Quest since early August 2024. The recent launch of the Gravity Alpha Mainnet will likely boost ecosystem growth for Galxe Quest, and the project team has already announced that existing loyalty programs will be moved to the Gravity blockchain.

Galxe Passport

Galxe Passport is an identity management solution that leverages the platform's digital credential network. Passport allows web3 users to utilize a single Galxe ID for access to and authentication on a wide variety of blockchain platforms and apps. All user data is stored within the on-chain identifier, greatly simplifying cross-chain navigation and use.

Powered by the Galxe Identity Protocol, Passport provides a secure environment for users to transact on-chain, sharing only the information they deem necessary.

Galxe Score

Galxe Score is an on-chain reputation scoring solution for web3 users that helps prevent Sybil attacks (whereby a single entity manipulates multiple accounts). It assesses users' trustworthiness via their personal reputation scores, thereby providing brands and crypto platforms with valuable signals regarding the quality of the users. Galxe’s reputation scores consider multiple data points derived from users' on-chain activities and history. The image below shows the five key dimensions used by Galxe to calculate a score for each user.

Source: Galxe.com

Galxe Compass

With the wild variety of apps, protocols, loyalty programs and airdrops floating around in the crypto industry, finding the optimal reward sources isn't the easiest of tasks for web3 users. Galxe Compass greatly simplifies this process by providing a unified view of the best reward sources available across the web3 landscape. Compass helps users identify the most promising web3 projects that run various reward schemes, such as airdrops, exclusive token sales and loyalty programs.

Alva

Ever since the introduction of ChatGPT in late 2022, generative AI chatbots have been all the rage in the business world, including in the web3 space. The Galxe team hasn't remained indifferent to these developments. Alva is Galxe's AI-powered chatbot with an X (former Twitter) extension that lets you stay abreast of the latest developments in crypto markets and the wider industry. It’s been specifically optimized to deliver crypto-focused news, real-time data and insights in response to natural language text prompts.

What Is Galxe DAO?

The Galxe platform is governed by a decentralized autonomous organization (DAO). Originally, holders of the GAL token had the right to participate in the DAO's governance processes. Following the recent token migration from GAL to G, which we'll cover in more detail below, the latter is envisioned to become the DAO's default governance token.

All key decisions related to the platform's operations go through a two-step evaluation process through the Galxe DAO. At step one, a new proposal undergoes a "temperature check" process on the DAO discussion forum. This is a qualitative stage designed to gauge initial reactions to the proposal. The proposed change must be available for discussion on the forum for at least five days.

If there's enough initial support for the proposal, it moves to step two — snapshot voting. GAL holders (in the future, G holders) cast their votes to decide whether the proposed change will be accepted. Each snapshot vote must also stay open for five days. A proposal will only be passed if it receives over 50% of the votes and is endorsed by wallet addresses holding at least 2,000,000 GAL in total.

When the proposal is passed, Galxe will implement the proposed changes, which will be signed by the multi-signature wallets voted by GAL holders if deemed necessary.

What Is the Galxe Token (GAL)?

Galxe's original native cryptocurrency, GAL, is a token with addresses on both the Ethereum (ETH) and BNB Chain (BNB) blockchains. The token's key functions include governance and paying for access to specific products and modules within the Galxe ecosystem. For instance, developers can pay in GAL to run queries on the credential data maintained by the platform.

Launched in May 2022, the GAL token is a deflationary crypto, with a maximum and total supply of 200 million.

Galxe (GAL) to Gravity (G)

In July 2024, Galxe initiated the migration of GAL to G — the native crypto of the Gravity chain — at a fixed ratio of 1:60. G inherits most of the tokenomics properties of GAL, also being a deflationary token. Its maximum and total supply are 12 billion. G will replace GAL as the platform's governance and payments cryptocurrency. 

In order to participate in governance, G will have to be staked. G can also be staked to help secure the network, and stakers will get to earn exclusive rewards on all Galxe apps. All fees for accessing and using Galxe-based applications will be paid in G. Additionally, G will be used for gas fee payments on the Gravity blockchain.

Where to Buy Gravity G

The G token is already available on Bybit through a Perpetual contract with USDT (GUSDT). Within the contract, you can trade G with up to 25x leverage. Starting Aug 6, 2024, the G token will also be available through Bybit's Spot market, where you’ll be able to take advantage of our Spot Grid Bots for your G trading.

Gravity (G) Crypto Price Prediction

As of Aug 7, 2024, the G token is trading at $0.03599, which is 60.9% lower than its all-time high of $0.09169, achieved on the token's launch date, Jul 18, 2024, and 33.6% higher than its all-time low of $0.02684, recorded two days earlier on Aug 5, 2024.

Long-term price forecasts for G are mostly bullish. DigitalCoinPrice expects G to trade at $0.0893 in 2025 and $0.27 in 2030, whileCoinCodex predicts that the token may go as high as $ 0.159 in 2025 but decrease slightly to $ 0.13857 in 2030.

Closing Thoughts

With its rich selection of products and services, the Galxe platform and its Gravity blockchain are among the most innovative solutions in the web3 credential management niche. The Gravity blockchain, in particular, is a bold vision for omnichain decentralized credentials management.

Brands also benefit from Galxe's stack of solutions. Both Galxe Quest, which allows businesses to deploy loyalty solutions easily, and Galxe Score, which provides excellent indicators of potential users' on-chain behavior quality, can be invaluable products for a consumer-centric web3 business.

The Galxe team has proposed a variety of innovative solutions, and all eyes are now watching to see how everything works out in the real world during the Alpha Mainnet stage of the project.

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