How to Earn with Galxe
Galxe is a collaborative credential infrastructure enabling brands and developers to engage communities and build robust products in web3.
web3 projects can leverage Galxe’s infrastructure to create growth-hacking campaigns while engaging their communities with on-chain and off-chain credentials.
Galxe started in October 2021 as “Project Galaxy” and has since grown to become the world’s leading web3 credential data network. Currently, Galxe has over 30 million users and more than 1,800 partners and is growing rapidly.
How does Galxe work?
Galxe offers an infrastructure where users curate and contribute digital credentials for web3 developers. When developers use the credentials, the curators are rewarded.
So what are these “credentials,” you may be wondering. They are simply a history of your digital activities. It could be anything from liking a Tweet and joining Discord (off-chain credentials) to depositing on a blockchain or voting on-chain (on-chain credentials).
Asides from making credentials accessible, Galxe also provides developers with resources like application modules and APIs for them to leverage and improve their products. An existing use case of Galxe application modules is the Galxe On-chain Achievement Token (OAT).
OATs are NFTs that serve as evidence of participation. The OAT was created for brands to be able to reward their community/users for participation in events and online interactions as a credential.
The platform uses a decentralized identity (DID) system called Galxe ID. Think of it as a LinkedIn for web3, where you have a username representing your multi-chain/multi-wallet identities in web3. It displays your web3 credentials and also highlights your achievements.
Another key component of the Galxe infrastructure is the Galxe Passport. It stores a user’s identity information securely and anonymously and can only be accessed by the owner via a password. The Galxe Passport serves as a user’s universal web3 identity across various applications.
As a brand, you can publish your community campaigns and events on Galxe Spaces, where your followers can track them.
How users can earn
The Galxe token ($GAL) is the ecosystem’s payment and governance token. It is used for voting in the Galxe DAO. Developers also use it to pay for access to application modules and credential APIs.
Like many cryptocurrencies, $GAL can be traded for other tokens or fiat money.
Before earning on Galxe, you need to have a Galxe ID. To claim your Galxe ID, you simply have to connect your wallet and set a username on the Galxe ID page.
Once you have a Galxe ID, you can earn $GAL in any of the following ways:
1. Curating credentials
Curating digital credentials is the primary way to earn $GAL in the Galxe ecosystem. Once a developer uses a credential, the contributor gets tokens as a reward.
2. Participating in Galxe Spaces
You can also earn OATs and other NFTs by joining and actively participating in different Spaces created by projects on the platform. The NFTs can then be sold on marketplaces for cryptocurrencies.
3. Liquidity pools
$GAL holders can add their tokens to any of several liquidity pools and earn a percentage of trading fees as a reward. Galxe recently announced token holders could provide liquidity on Maverick’s new protocol.
4. Community participation
Galxe values its community and occasionally rewards outstanding members with tokens and NFTs. Last year, for instance, the platform organized an airdrop for early adopters. You can become active in the Galxe community by participating in its campaigns and events, helping out on the Galxe Discord, and so on.
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Galxe is one of the best at what it does in the web3 space, helping projects grow their communities through incentives. As a user, you can take the opportunity while Galxe sees increased adoption and its token increases in value.