Markets News Report Technology
April 24, 2024

Galxe Introduces GAL Staking with $5M Rewards Pool, Enables Users To Receive Benefits Via Galxe Earn

In Brief

Galxe introduced GAL Staking, a new feature that enables users to earn rewards through its airdrop platform Galxe Earn.

Galxe Introduces GAL Staking with $5M Rewards Pool, Enables Users To Receive Benefits Via Galxe Earn

Web3 infrastructure and digital credential network, Galxe introduced GAL Staking, a new feature enabling users to earn rewards through its Galxe Earn, a platform for precision-targeted airdrops.

The GAL Staking feature offers a user-friendly interface that allows users to easily interact with the website by staking and unstaking GAL tokens. This staking experience is designed to improve user engagement and empower users to make well-informed decisions based on real-time data.

Furthermore, with the GAL Staking, users can utilize staked GAL tokens to participate in airdrop campaigns provided by Galxe Earn. This integration enhances the synergy between reward and staking mechanisms, offering Galxe users a more advantageous way to engage with the ecosystem.

Galxe Earn is backed by Galxe Quest, a platform aimed at fostering growth and engagement within the Web3 community. It facilitates interaction between projects and various participants, including non-fungible token (NFT) collectors, token holders, and social media followers. Moreover, it allows projects to provide exclusive rewards such as access to airdrops and whitelist spots, thereby boosting engagement and broadening the ecosystem’s reach.

The rewards pool of Galxe Earn includes significant collaborations with Merlin Chain, Arbitrum, and Polyhedra Network, with a goal of distributing nearly $5 million in rewards. This initiative aims to enhance user engagement by providing access to airdrops and whitelist spots supported by Galxe Quest.

Galxe Proposes Governance Model Enhancement 

Alongside the introduction of GAL Staking, the platform has put forth a proposal to enhance its governance model. This adjustment seeks to foster deeper community engagement by granting greater influence to those community members who actively participate and stake GAL tokens. If accepted, the proposal would transfer voting rights to GAL stakers, aiming to democratize the decision-making process on the GAL Staking. The proposal is currently active, and the platform encourages stakeholders to vote and engage in discussions.

Galxe functions as a Web3 infrastructure and digital credential network, facilitating Web3 experiences through the utilization of modular AI, digital identity, and blockchain technologies. It utilizes the Galxe Identity Protocol, which serves as a fundamental layer for secure and self-sovereign digital identity management.

Alongside the protocol, Galxe offers a suite of products, including Galxe Quest, Galxe Passport, Galxe Score, and Galxe Compass. The platform has a community of over 18 million active users and partnerships with 4,900 brands. 

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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