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Galxe

GAL

Galxe

GAL

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Price of GAL today

The current live price of GAL today is ₹0, with a 24-hour trading volume of ₹1,02,88,044.92. Our GAL to INR price is updated in real-time. GAL has seen a increment of 5.78% in the last 24 hours. With a live market cap of ₹1,74,60,06,251.31 , the circulating supply is at 9,583,611 GAL coins, with a maximum supply of 200,000,000GAL coins.

Galxe Price History

Date ComparisonAmount Change% Change
Today₹0.00

0%

7 Days₹0.00

0%

30 Days₹0.00

0%

1 Year₹0.00

0%

Galxe Price Information

Price Change (1hr)

0%

Price Change (24hr)

0%

Price Change (7d)

0%

Galxe Market Stats

Market Cap

₹1,74,60,06,251.31

Fully Diluted Market Cap

₹36,43,73,35,242.86

24hr Volume

₹1,02,88,044.92

26.45%

Circulating Supply

9583611.09 GAL

Total Supply

200000000 GAL

Things to know about Galxe

What is the token?

Galxe (GAL) is a native utility token of the Galxe platform, which is a leading Web3 credential data network. The platform is designed to empower Web3 developers and projects by leveraging digital credential data and non-fungible tokens (NFTs) to build better products and communities. Galxe operates on a permissionless, open, and collaborative infrastructure, allowing for the creation, exchange, and verification of digital credentials in a secure and decentralized manner. The GAL token plays a central role in the ecosystem, facilitating governance, incentivizing participation, and serving as the primary payment token within the Galxe ecosystem.

Tokenomics

  • Total supply: 200,000,000 GAL tokens.

  • Circulating supply: 105,305,665 GAL (as of the latest update).

  • Token distribution includes allocations for Binance Launchpool, Ecosystem, Early Adopter Rewards, CoinList Public Sale, Growth Backer Rounds, Advisors & Partners, Marketing, Foundation, Team, and Community Treasury.

  • GAL is used for governance, paying for application module fees, and querying credential data through Galxe Oracle Engine and Galxe Credential API.

  • Curators use GAL to signal the value of credential data sets and can trade stakes of data sets through bonding curves.

Market Data

As of today 12 October 2024, the price of Galxe is ₹0 INR, with a 24-hour trading volume of 116512.4 USD. The market capitalization for Galxe is 19773570.23USD. The circulating supply is 9583611.09 Galxe, with the total supply also being 81834279.91 Galxe.

Token Pros and Cons

Pros:

  • Decentralized Identity Verification

  • : Galxe uses blockchain technology to provide a decentralized and secure way of verifying digital identities and credentials.

  • Governance Participation

  • : GAL token holders can participate in the governance of the Galxe DAO, influencing decisions such as platform fees and treasury funds.

  • Incentivization Mechanism

  • : The token incentivizes users to contribute to the ecosystem by curating valuable credential data sets and participating in various campaigns.

  • Utility Across Ecosystem

  • : GAL tokens have multiple uses within the Galxe ecosystem, including paying for services and participating in reward programs.

  • Cross-chain Functionality

  • : Galxe’s infrastructure is chain-agnostic, allowing for interoperability across different blockchain networks.

Cons:

  • Market Volatility

  • : As with all cryptocurrencies, GAL is subject to market volatility, which can lead to unpredictable price fluctuations.

  • Regulatory Uncertainty

  • : The evolving regulatory landscape for cryptocurrencies could impact the utility and value of GAL tokens.

  • Complexity for New Users

  • : The technical nature of blockchain and digital credentials may pose a barrier to entry for less tech-savvy individuals.

  • Competition

  • : Galxe operates in a competitive space with other blockchain-based identity verification projects.

  • Adoption Rate

  • : The success of the GAL token is dependent on the widespread adoption of the Galxe platform and its services.

Why Should You Invest in the Coin?

  • Innovative Use Case

  • : Galxe addresses the need for secure and private digital identity verification, which is a growing concern in the digital age.

  • Strong Ecosystem Growth

  • : With over 14 million unique users and partnerships with major blockchain networks, Galxe demonstrates strong ecosystem growth.

  • Active Development

  • : The platform continues to develop new features and expand its capabilities, indicating a commitment to long-term growth.

  • Potential for Widespread Adoption

  • : As the Web3 space expands, the demand for decentralized identity solutions like Galxe could increase significantly.

  • Token Utility

  • : GAL tokens have a clear utility within the Galxe ecosystem, which can drive demand and potentially increase the token’s value over time.

USP of the Coin

  • Zero-Knowledge Proofs

  • : Galxe leverages Zero-Knowledge Proof technology to enable the private and secure sharing of verifiable credentials.

  • Soulbound Tokens (SBTs)

  • : Galxe introduces the concept of SBTs, which are non-transferable tokens representing a user’s achievements and credentials.

  • Chain-Agnostic Platform

  • : Galxe’s protocol is designed to be chain-agnostic, allowing for seamless integration and operation across multiple blockchain networks.

Problem the Coin is Solving

Galxe aims to solve the problem of data ownership and privacy in the digital world. Traditional Web2 platforms exploit user data for targeted advertising without giving users control over their information. Galxe provides a self-sovereign identity infrastructure where users can own, manage, and share their credentials securely and privately, thus redefining the way credentials are issued and verified in the Web3 world.

Founder and Team Background

Galxe, initially known as Project Galaxy, was co-founded by Charles Wayn and Harry Zhang. The inception of Galxe was driven by the vision of leveraging Web3 technologies to revolutionize digital credentialing and identity verification. Charles Wayn and Harry Zhang, both hailing from California, embarked on this journey to create a decentralized platform that empowers users and developers by providing a secure and efficient way to manage digital credentials across various blockchain networks. In addition to the co-founders, the Galxe team was further strengthened by the inclusion of Xinlu C., contributing to the project’s foundational development.

The team behind Galxe is described as a group of serial entrepreneurs who are deeply invested in the potential of Web3 technologies. This collective of innovators aimed to address the challenges associated with digital identity and credentials in the online world.

ICO Price

  • ICO price: $1.50 per GAL token.

  • Listing date: The Token Sale on CoinList was held on February 17, 2022.

  • Initial allocated units: The initial token distribution of Galxe (GAL) was meticulously planned to ensure a balanced allocation that supports the project’s long-term growth and sustainability. The total supply of GAL tokens is capped at 200,000,000. The initial allocation was distributed as follows:

  • Binance Launchpool

  • : 1.50% of the total supply, aimed at facilitating the initial distribution of GAL tokens through Binance’s Launchpool platform.

  • Ecosystem

  • : 4.50% allocated to support the development and expansion of the Galxe ecosystem, including partnerships, integrations, and community initiatives.

  • Community Treasury

  • : 20.00%, reserved for the Galxe community treasury to fund future developments, community rewards, and governance initiatives.

  • Team

  • : 15.00% allocated to the founding team and early contributors as an incentive for their continued involvement and contribution to the project.

  • Marketing

  • : 15.00%, dedicated to marketing efforts to increase awareness and adoption of Galxe.

  • Advisors & Partners

  • : 6.23%, allocated to advisors and strategic partners who provide valuable insights and support to the project.

  • Growth Backer Rounds

  • : 20.7% (10.6% for Growth Backer Round 1 and 10.1% for Growth Backer Round 2), aimed at securing funding from backers who support the project’s growth and development.

  • Foundation

  • : 10.00% allocated to the Galxe Foundation to support its mission of promoting digital credentialing and identity verification in the Web3 space.

  • Public Sale

  • : 5.00%, made available to the public through a sale process, allowing wider participation in the Galxe ecosystem.

  • Early Adopters

  • : 2.00%, rewarded to early adopters and supporters of the Galxe platform, acknowledging their contribution to the project’s initial growth.

  • This strategic allocation was designed to ensure the long-term viability of the Galxe project, incentivizing key stakeholders while also securing the necessary resources for continuous development and expansion.

Risks Associated in Investing in the Coin

  • Technical Risks

  • : The underlying technology is complex and may be subject to bugs or vulnerabilities.

  • Liquidity Risk

  • : GAL tokens may face liquidity issues on exchanges, affecting the ability to buy or sell large amounts without impacting the price.

  • Competitive Risk

  • : The digital identity space is highly competitive, and Galxe must continuously innovate to maintain its position.

  • Adoption Risk

  • : The platform’s success is contingent on widespread adoption by developers, projects, and users.

  • Regulatory Risk

  • : Changes in cryptocurrency regulations could negatively impact the utility and value of GAL tokens.

Whitepaper Insights

The Galxe whitepaper outlines a comprehensive vision for a decentralized credential data network that empowers users with control over their private data and identity. At the heart of the Galxe ecosystem is the GAL token, which serves multiple functions, including governance, incentivization, and payment for services within the platform.

Galxe’s protocol is built on a series of smart contracts and SDK tools that enable developers to create and manage digital credentials. These credentials are versatile and can represent anything from age verification to in-game achievements. The use of Zero-Knowledge Proofs ensures that users can selectively disclose information without compromising their privacy.

The whitepaper details the Galxe Protocol’s architecture, which is designed to be chain-agnostic and permissionless, supporting a wide range of applications both on-chain and off-chain. The protocol introduces the concept of soul-bound tokens (SBTs), which are non-transferable and represent a user’s unique achievements and identity within the Web3 space.

Galxe’s tokenomics are structured to support the ecosystem’s growth and sustainability. The GAL token’s utilities include governance, where token holders can vote on key decisions; payment for application module fees and data queries; and curation of digital credentials, where curators can signal the value of data sets and earn a share of the revenue generated.

The whitepaper emphasizes the importance of user empowerment, highlighting the shift from the exploitative data practices of Web2 to a more equitable Web3 model where users own and benefit from their data. Galxe’s infrastructure enables the creation of Sybil prevention algorithms, reputation systems, credit systems, personal data markets, and decentralized review systems.

In conclusion, the Galxe whitepaper presents a forward-thinking approach to digital identity and credential management in the Web3 era. It proposes a system where users have complete control over their data, with the GAL token facilitating a vibrant and participatory ecosystem. The platform’s potential to revolutionize digital interactions and transactions is underscored by its commitment to privacy, security, and user-centric design.

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What is the price of Galxe (GAL)?

The current price of Galxe (GAL) in INR is ₹0 INR.

What is the current GAL market cap?

The current market capitalization of Galxe (GAL) is ₹1,74,60,06,251.31 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of GAL by the number of coins in circulation.

What is the current supply of Galxe (GAL)?

The current supply of Galxe (GAL) is 9583611.09 GAL. This figure represents the total number of coins that have been mined and are currently in circulation.

What is the 24 trading volume of Galxe (GAL)?

The 24-hour trading volume of Galxe (GAL) in INR is ₹1,02,88,044.92. This figure represents the total value of all GAL transactions across various exchanges within the last 24 hours.

How to Buy Galxe (GAL) in India?

To buy Galxe (GAL) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in GAL.

Can I buy Galxe (GAL) with UPI?

Yes, you can buy Galxe (GAL) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.

How to Convert Galxe (GAL) to Indian Rupee (INR)?

To convert Galxe (GAL) to Indian Rupee (INR), you can use our GAL/INR conversion rates in real time.

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