What is GAL used for?

Modified on Thu, 16 Feb 2023 at 05:22 PM

Project Galaxy is a platform where blockchain users can curate credentials while developers can gain access to the credential and use it for their Web3 development. GAL acts as the incentive to help build the network of credentials on Project Galaxy as follows:


1.Fee to use credential — for developers who wish to gain access to the credential must pay the access fee using the Application Module. The cost will be determined by how that credential is in demand, the higher demand means higher fee.


2.Fee to connect API — developers can gain access and connect API of the credential using Galaxy Oracle Engine and Galaxy Credential API


3.Curating Digital Credentials — Curators can utilize GAL as collateral to record the credential on the platform. 


4.Governance — GAL can also be considered a governance token that allows its holders to participate in the platform’s governance to vote on fee structure, manage funds, or other projects via DAO features.


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