What is Project Galaxy (GAL)? The 30th Project On Binance Launchpool

Binance has announced the 30th project on Binance Launchpool – Project Galaxy (GAL), a Web3 credential data network. Users will be able to stake their BNB, BUSD and CAKE tokens into separate pools to farm GAL tokens over 30 days, with farming starting from 2022-04-29 00:00 AM (UTC).

Binance will then list GAL into the innovation zone at 2022-05-05 12:00 PM (UTC) and open trading with GAL/BTC, GAL/BNB, GAL/BUSD and GAL/USDT trading pairs.

What is Project Galaxy (GAL)?

Project Galaxy is a Web3 credential data network. Built on open and collaborative infrastructure, Project Galaxy helps Web3 developers and projects leverage digital credential data and NFTs to build better products and communities. Project Galaxy aims to solve this problem by empowering developers with an aggregated credential data network in Web3.

GAL is Project Galaxy’s native utility and governance token, it has the following use cases:

    • Governance: GAL token holders can vote on Project Galaxy DAO’s governance proposals.
    • Paying for Fees: Developers who aim to utilize Galaxy’s credential data will be charged in GAL.
    • Curating Credentials: Curators are incentivized to stake GAL token to signal a credential data sets value. Each credential data set will include a revenue stream that will be split between credential stakeholders pro-rata.

Token Distribution

Token Name GAL
Growth Backers 1 10.63% of the total token supply
Growth Backers 2 10.14% of the total token supply
Binance Launchpool 1.50% of the total token supply
Early Adopter Rewards 2.00% of the total token supply
Ecosystem 4.50% of the total token supply
CoinList Public Sale 5.00% of the total token supply
Team 15.00% of the total token supply
Advisors 6.23% of the total token supply
Marketing 15.00% of the total token supply
Foundation Reserve 10.00% of the total token supply
Community Treasury 20.00% of the total token supply

 

GAL token release schedule

GAL Launchpool Details:
  • Token Name: Project Galaxy (GAL)
  • Total Token Supply: 200,000,000 GAL
  • Launchpool Token Rewards: 3,000,000 GAL (1.5% of total token supply)
  • Initial Circulating Supply: 35,161,333 GAL (17.58% of total token supply)
  • Smart Contract Address: GAL (ERC-20); GAL (BEP-20)
  • Staking Terms: No upper limit. KYC required
Supported Pools:
  • Stake BNB: 2,100,000 GAL in rewards (70%)
  • Stake CAKE: 600,000 GAL in rewards (20%)
  • Stake BUSD: 300,000 GAL in rewards (10%)
  • Farming Period: 2022-04-29 00:00 AM (UTC) to 2022-05-28 11:59 PM (UTC).
GAL Farming Distribution
Dates (00:00:00 – 23:59:59 UTC each day) Total Daily Rewards (GAL) BNB Pool Daily Rewards (GAL) CAKE Pool Daily Rewards (GAL) BUSD Pool Daily Rewards (GAL)
2022-04-29 – 2022-05-05 214,285.71 150,000.00 42,857.14 21,428.57
2022-05-06 – 2022-05-28 65,217.39 45,652.17 13,043.48 6,521.74

Note: Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.

Register Binance account here.

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