Applicant Name:
Jake Margulies
Project Name:
Galxe
Project Description:
Galxe is the leading platform for building web3 communities. With over 12 million unique users, Galxe has propelled the growth of Optimism, Polygon, Arbitrum, and more than 3700 partners with reward-based loyalty programs.
Protocols can leverage Web3 credentials from Galxe’s credential data network to power marketplace growth, issue Soul Bound Tokens, increase community engagement, boost ecosystem growth, and generate brand awareness as a result.
Team Members and Qualifications:
Charles Wayn & Harry Zhang, Co-Founders
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In 2021, Galxe was formed by Bullet Labs and has seen substantial growth on numerous fronts. Charles Wayn and Harry Zhang co-founded Galxe and previously founded the blockchain streaming service, DLive, which they successfully exited in 2019 after a sale to BitTorrent.
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Since its inception, Galxe has raised over $15M from top VC funds around the globe, had an oversubscribed public sale on CoinList, and launched the $GAL token in May 2022. Their latest financing round was led by Dragonfly and Multicoin Capital. Most recently, Galxe was awarded the 2022 Binance Launchpool Project of The Year Award.
Yumin Xia, CTO.
- Yumin leads the engineering team and is building the platform’s software infrastructure. Yumin previously worked at DLive and holds a Master’s Degree in Computer Science from the University of California, Los Angeles where he worked at the UCLA Internet Research Laboratory, focusing on researching computer networks and distributed systems.
Mat Samson, Head of Ecosystem.
- Mat leads the Galxe Ecosystem team. Mat’s responsibilities are to explore new business opportunities for Galxe.
Jake Margulies, Sr BD.
- Jake leads integration and partnerships on Mat’s ecosystem team. In parallel, Jake helps on the campaign strategy side for Galxe’s ecosystem partners.
Galxe is a skilled team of growth consultants and advisors to the top ecosystems and dapps in the web3 space.
Project Links:
- Demo: https://gal.xyz/DashboardDemo
- Website: https://galxe.com/ 1
- Twitter: https://twitter.com/Galxe 1
- Discord/Discourse/Community: https://discord.com/invite/galxe
- Github: https://github.com/NFTGalaxy
- Technical/Economic Documentation: https://help.galxe.com/en/
- Other: https://blog.galxe.com/ (Medium)
Contact Information
TG:
@jakemargulies
Twitter:
N/A
Email:
Do You Acknowledge That Your Team Will Be Subject to a KYC Requirement?:
Yes
SECTION 2: GRANT INFORMATION
Detail the requested grant size, provide an overview of the budget breakdown, specify the funding and contract addresses, and describe any matching funds if relevant.
Requested Grant Size:
500,000 ARB
Grant Matching:
N/A
Grant Breakdown:
The requested grant will be used to directly incentivize and reward user activity within the Arbitrum ecosystem. The activity will include driving on-chain contributions through Arbitrum protocols that reward users with ARB directly through Galxe’s Token Reward module.
ARB will go directly to the participating users to reward them for their efforts and contributions in each protocol.
Development for our Token Reward module on Arbitrum is already complete, so Galxe can begin our ARB incentives program immediately following the passing of the proposal.
Funding Address:
0xeF80A06933Ad67F16a234e10693B2f935e4a9130
Funding Address Characteristics:
2/5 multisig with private keys securely stored.
Contract Address:
0xeF80A06933Ad67F16a234e10693B2f935e4a9130
SECTION 3: GRANT OBJECTIVES AND EXECUTION
Clearly outline the primary objectives of the project and the Key Performance Indicators (KPIs) used to measure success. This helps reviewers understand what the project aims to achieve and how progress will be assessed.
Objectives:
Galxe looks to achieve many objectives with this grant. Our primary focus is to continue supporting Arbitrum’s ecosystem as a resource for Arbitrum dapps to reach new global audiences in addition to being a tool to reward and manage current community members.
This grant will enable Arbitrum dapps to do the following:
- Drive new user growth
- Reward their current community
- Gamify their engagement through a variety of different ways
- Build out their own on-chain loyalty program on Arbitrum
- Create their own web3 Arbitrum CRM
On the other hand, Arbitrum users will have the ability to do the following:
- Further build out their identity/reputation on Arbitrum via on-chain contributions
- Curate anon-chain resume
- Discover each of the excellent protocols that Arbitrum has to offer
- Educate themselves on the Arbitrum ecosystem
Additionally, we expect the incentives to assist Galxe in furthering our mission of Arbitrum ecosystem growth. Arbitrum protocols have the incredible opportunity to engage with Galxe’s millions of users through ARB incentives.
Key Performance Indicators (KPIs)
- Considering each campaign can request users to perform multiple on-chain actions, our most conservative estimate is that we will drive ~1.5M transactions throughout this incentive program
- We expect this to help our Arbitrum ecosystem partners to execute additional Galxe campaign modules on top of the Token Rewards campaign, such as Arbitrum OAT and NFT mints
Galxe has also observed the need for a stronger NFT presence and greater utility for NFTs within the Arbitrum ecosystem. Based on the below screenshots, we believe Galxe OAT is an excellent solution and has the best opportunity to impact the Arbitrum ecosystem in a positive way. Galxe OAT is proven to be the best solution for dapp developers to leverage in community building.
Galxe looks to fulfill the following objectives and help Arbitrum become a leader in the NFT space.
- Increase NFT asset transaction volume on Aribtrum
- Assist developers in deploying NFT contracts on Arbitrum via Galxe’s no-code dashboard
- Grow unique NFT holders on Arbitrum
- Amplify secondary marketplace trading on Arbitrum
Source: https://arbitrum.nftscan.com/, https://optimism.nftscan.com/
Furthermore, should Galxe receive this grant, we will commit ourselves to integrating an Arbitrum OAT.
BNB OAT (deployed in 2021)
- 8.6M+ minted
- 1M+ unique holders
Polygon OAT (deployed in 2021)
- 21.3M+ minted
- 2.2M+ unique holders
- Top erc-721 contract on Polygon
Avalanche OAT (deployed end of March 2023)
- 3.1M+ minted
- 657K+ unique holders
Optimism OAT (deployed end of May 2023)
- 1.8M+ minted
- 479K+ unique holders
Key Performance Indicators (KPIs) for an Arbitrum OAT:
- 20 Arbitrum native dapps deploy an Arbitrum OAT within 3 months.
- 20 non-native Arbitrum dapps deploy an Arbitrum OAT within 6 months.
- 250K total Arbitrum OAT mints within 3 months.
- 400K Arbitrum OAT mints within 6 months.
To be clear, the ARB incentives will only be used for Arbitrum protocols running Token Reward campaigns on Galxe that incentivize on-chain activity on Arbitrum. An Arbitrum Galxe OAT is not part of the requested grant, but we will commit to integrating it as an additional growth supplement to our Token Reward module and for Arbitrum protocols to seamlessly reward their community members with a gasless badge.
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?:
At Galxe, you’ll attract and engage users from other ecosystems Galxe has worked with that Arbitrum may not have had the chance to interact with yet.
This grant enables Galxe to leverage our community of 12M unique users to explore and engage with Arbitrum’s top protocols through ARB incentives.
Through Galxe credentials, Galxe makes sure only valuable, loyal contributors are getting rewarded. We look forward to maximizing our existing resources at hand to ensure maximum success and growth for Arbitrum is achieved.
At Galxe, with our experience and resources, we’ve accumulated the following accomplishments.
- An ecosystem of over 3700+ web3 projects
- 40K+ campaigns & quests powered
- Galxe has over 60M+ NFTs minted directly through our platform, generating ~ $15M worth of gas fees on all supported chains
- Twitter of over 1M+ (Verified)
- Discord with 555K+ members
All Arbitrum dapps will continue to get strong Galxe support and guidance on running growth campaigns.
We believe that our proposal is directly in line with the goals of the framework in the “Motivation” section on Arbitrum’s STI Program to “Support Network Growth” and to “generate maximum activity on the Arbitrum network."
Galxe will be supporting Arbitrum network growth in a variety of ways.
- Onboarding a global network of existing and new users to Arbitrum via Galxe campaigns and quests
- A resource for Arbitrum dapps to grow their protocol and manage their communities through ARB incentives
- Most importantly the requested grant will assist Galxe in powering transaction fees in three different ways across the following activities.
- Drive transaction fees across the network through user interaction with each protocol. At times, users may be asked to complete multiple on-chain activities within one campaign to become eligible for ARB rewards.
- Generate transaction fees when users claim their ARB rewards following verified eligibility
- NFT minting fees on Arbitrum generated via Galxe quests for users to mint their reputation badges
Galxe plans to make this program inclusive so any quality Arbitrum protocol in need of ecosystem development can become eligible to incentivize users with ARB. ARB incentives for each protocol will depend on their Space Tier and campaign structure.
At this time, we’re planning on working with the following protocols to kick this program off.
- GMX
- Trader Joe
- XAI
- SushiSwap
- Vela Exchange
- Radiant Protocol
- Camelot
- Connext
- Magpie
- WooFi
- Stargate
- Hop
- Frax Finance
- Savvy DeFi
- Chronos
- Clipper
- ApeSwap
- Notional
- Lido
- Thales
- PancakeSwap
Aside from Galxe’s Token Reward module, Arbitrum protocols can leverage Galxe’s additional gamification modules for other initiatives. The screenshot below is meant to represent the simplicity and easiness of deploying an Arbitrum Token Rewards quest.
Justification for the size of the grant:
Galxe is looking for a grant of 500,000 ARB that will go directly towards incentivizing and rewarding participating users in Arbitrum campaigns only. The grant is justified by the activity we expect to see in the quests based on our prior experience working directly with the Arbitrum ecosystem and our 12M unique user base looking to explore the Arbitrum ecosystem. Over the past 90 days, the average number of monthly user actions taken on Galxe is 16.3M, and this tells Galxe that users are eager to explore and power activity on-chain. through Galxe campaigns. No part of the grant will be kept by the Galxe team.
Any unused funds will be returned to the Arbitrum DAO on January 31, 2024.
Execution Strategy:
Once the grant is received, the Galxe team will begin to work with our network of Arbitrum partners on execution. The strategy will be focused on working closely with those Arbitrum partners to engage global audiences, incentivize protocol engagement, identify valuable contributors, and reward contributors with ARB through Galxe’s Token Reward module.
Galxe will begin marketing the initiative following the passing of the proposal.
To prevent any abuse of the incentivizes from protocols, Galxe recently introduced our new Space Tiers, representing a dapps ranking within Galxe.
For context, Space Tiers on Galxe gives a partner more availability/access to additional promo support/features among other things that a Lower Tier Space would not have access to. Higher Space Tiers can be achieved by a project’s commitment to running quality campaigns on Galxe consistently. Space Tiers ensures only the highest quality dapps are eligible for the incentives. Galxe plans to leverage our Space Tiers program in determining which Arbitrum Galxe partners are eligible to use the ARB incentives in their Token Reward module campaign. Space Tiers 3 and 4 will be eligible to begin with.
The objective of the Space Tiers system is to incentivize long-term usage of Galxe’s infrastructure while unlocking special perks/benefits along the way, such as gas fee credits, promotional opportunities, priority support, etc.
If you reference the below screenshot, Galxe has a clear blueprint of how a Space can level up within Galxe. Our Task Center within each project’s dashboard is designed to guide you through each tier to understand what is necessary to level up.
Galxe will make sure to incentivize quality Arbitrum Token Reward module deployments and participation by including it in the Task Center for each relevant Tier. There are two distinct ways that Galxe can encourage Arbitrum activity amongst our 3700 ecosystem partners within the Galxe Task Center.
- Reward dapps that deploy steady Arbitrum Token Reward Quests.
- Reward dapps that achieve consistent, high-level participation.
To make sure the grant funds go into the hands of humans AND are used to drive on-chain transactions on Arbitrum, a minimum requirement to receive the token rewards grant will be to define at least 1 on-chain action and add a Sybil prevention credential. Galxe will enforce the usage of a Sybil prevention credential throughout this program.
Galxe Passport: Galxe’s own KYC solution. This method allows only real, verified users to participate in Galxe campaigns. Galxe Passport has 446K+ verified users and verification is conducted by Persona.
Galxe Web3 Score: Prove your humanity via off-chain and on-chain verification.
Gitcoin Passport: Dapps can token-gate their campaigns with a customized Gitcoin Passport Score
Trusta Labs Sybil Scoring Credential: A credential that assigns a Sybil score based on wallet history/activity using AI tech.
Nomis Score: Analyzes wallet activity across multiple EVM chains.
Have X amount of transactions on Arbitrum: A wallet must have a minimum amount of transactions on Arbitrum
Hold X amount of ARB or ETH: Hold a specific number of ARB or ETH tokens in your wallet
To make it clear, achieving an increased Space Tier on Galxe is not related in any shape or form to profits that Galxe may accrue. Our Space Tier Program is determined by the quality of campaigns, the willingness to experiment with Galxe’s entire suite of growth tools and the consistent, steady use of Galxe’s infrastructure.
You can also find more info here on Galxe Space Tiers. https://help.galxe.com/en/articles/7549545-galxe-space-tier-program-rewards-and-benefits-for-platform-contributors
Lastly, Galxe will not take any portion of the funds. Funds will be used for the sole purpose of incentivizing and rewarding users with ARB through Galxe’s Token Reward module.
Grant Timeline:
Galxe plans to begin working with Arbitrum ecosystem dapps immediately following the passing of the proposal. This includes finding the best activity to track and incentivize that is relevant to each protocol
Any unused funds will be returned to the Arbitrum DAO on January 31, 2024.
Do you accept the funding of your grant streamed linearly for the duration of your grant proposal, and that the multisig holds the power to halt your stream?
Yes.
SECTION 4: PROTOCOL DETAILS
Provide details about the Arbitrum protocol requirements relevant to the grant. This information ensures that the applicant is aligned with the technical specifications and commitments of the grant.
Is the Protocol Native to Arbitrum?:
No, Galxe is a multi-chain protocol that is the leading platform for building web3 communities.
On what other networks is the protocol deployed?:
Galxe supports NFT minting functionality on the following networks.
Arbitrum, Ethereum, Avalanche, Polygon, BNB, Optimism, zkSync, OKX, Fantom, Moonbeam, Solana, IoTeX, Sei, Linea, Base, Polygon zkEVM, Flow, Injective, Manta Network.
What date did you deploy on Arbitrum?:
June, 2022.
Protocol Performance:
Galxe has been contributing to the Arbitrum ecosystem for over 12+ months. Our most recognizable contribution within the Arbitrum ecosystem has been The Arbitrum Odyssey.
The Odyssey kicked off in the summer of 2022 with the objective of shining a spotlight on Arbitrum protocols in addition to driving Arbitrum ecosystem growth. By leveraging Galxe’s growth tools, community, and advisory, Arbitrum attained stellar growth.
The first two weeks of the Arbitrum Odyssey achieved the following metrics.
- 423,309 Arbitrum NFTs minted
- Brought 300,000 unique users to Arbitrum
- Bridged over $40 million worth of assets to Arbitrum
The Arbitrum Odyssey has just resumed after pausing initially due to network congestion and Arbitrum’s awaited upgrade to Nitro.
Galxe played an essential role in helping Odos boost its community, increase trading volume, and achieve long-lasting retention. Through Galxe, Odos was able to identify its most valuable contributors. Furthermore, Odos could segment its traders of all types and backgrounds via Galxe credentials.
Odos’ Galxe campaigns achieved the following metrics in less than 90 days. Its Arbitrum campaigns on Galxe saw the most engagement.
- Increase from $6M to $9.4B+ in cumulative trading volume across its supported networks
- 3.1M+ total swaps
- 91K+ unique users
- 900-163K+ Twitter follower growth
Galxe has also been working closely with Offchain Labs’ Xai. Galxe has played a significant role in onboarding users to the Xai ecosystem. Throughout this quest, Xai has been able to achieve off-chain and on-chain growth from a variety of users. Alongside this activity, Galxe has been a resource for amplification.
Lastly, Galxe also saw immense success and overwhelming participation in the Linea Voyage, co-hosted by Galxe and Linea (ConsenSys zkEVM).
Throughout the 9 week quest, Galxe contributed to the stellar growth of Linea’s testnet. Galxe saw the following.
- 5.2M+ unique addresses participated in the campaign
- 826K+ participants verified themselves as real humans
- 50M+ testnet transactions were completed throughout the duration of the campaign
Check out the Linea Voyage here.
Over the past 90 days, Galxe has accumulated the following growth metrics.
- 12M unique users
- The average number of actions taken on Galxe in a 90-day period: 16.3M
- 2.57M+ Discord handles registered with Galxe ID
- 3.56M+ Twitter handles registered with Galxe ID
Galxe’s infrastructure and growth tools have also been used to propel Optimism’s development from Fall 2022 through January 2023. This four-month quest demonstrates Galxe’s ability to power sustained growth over a lengthy period of time.
The Optimism Quest achieved the following results. Galxe studied data from pre-30 days Quest to post-30 days Quest to understand its powerful impact.
- 47.7% growth of Optimism usage
- 23.3% aggregate growth across all participating protocols
- 276.9% transactions increase for Granary
- Galxe was directly responsible for driving an average of 374,824 Optimism transactions per day during the Quest
- Each participating Optimism protocol saw incredible growth in new active addresses
Source: Dune
Galxe is an expert at powering protocol growth and guiding users to explore different protocols. During this quest, there were no incentives available to users throughout its duration. We are thrilled to see the results when there are incentives included.
All Arbitrum protocols will be eligible to receive an incentive subsidy to kickstart their own growth via Galxe. Galxe’s Arbitrum partners have deployed 160 Arbitrum quests over the past three months. Using the requested ARB funds this will be the most inclusive questing incentive program known to the blockchain space rather than incentives only being available to select Arbitrum protocols.
All Arbitrum protocols will have the opportunity to use the ARB incentives in their Galxe campaigns. Galxe will leverage our Space Tiers to determine the subsidy amount.
This grant will kickstart and sustain ecosystem growth across the entire Arbitrum ecosystem. Currently, Galxe is the highest traffic driver on Arbitrum over the past 30 days. The main purpose of this grant is to increase traffic and give Arbitrum protocols a resource for growth via incentives.
No other quest platform has contributed more to protocol ecosystem development than Galxe. Galxe continues to be the gateway platform for protocol exploration and blockchain education. The following data is over the course of the last 90 days.
Source: https://www.similarweb.com/
Protocol Roadmap:
Galxe strives to be at the forefront of innovation by introducing products that continue to create a superior, seamless onboarding experience for users and growth tools for protocols to identify valuable, loyal contributors.
Galxe 2.0 ushers in a more robust, versatile experience for all participants.
- Galxe Score
- Web3’s most intricate scoring system to prevent Sybils and identify power users across a variety of scoring methods.
- Galxe Mobile App
- A new mobile questing experience for Galxe users. Collect OATs, loyalty points, and credentials directly from your mobile.
- Galxe Smart Balance
- It’s now easier than ever for users to participate in Aribtrum NFT campaigns on Galxe.
- Telegram/Discord Bot V2.
- Receive push notifications from each of your favorite Aribtrum protocols deploying OAT campaigns.
- Galxe Social Login
- It’s never been easier to onboard web2 users to Galxe. Galxe now supports the option to log in with social accounts. No need to have a wallet to participate in Galxe campaigns.
Audit History:
Smart Contract Audits | Galxe Docs
The core contracts found in galxe-contracts repository have been audited by multiple independent third-party firms. You can download their audit reports below:
The audit was conducted by Certik and SlowMist.
SECTION 5: Data and Reporting
Provide details on how your team is equipped to provide data and reporting on grant distribution.
Is your team prepared to create Dune Dashboards for your incentive program?:
Yes, Galxe is more than happy to prepare data in a Dune Dashboard. This data will include the following.
- Percentage of daily fees Galxe is contributing to Arbitrum from Arbitrum Token Reward campaigns
- Percentage of daily transactions Galxe is contributing to Arbitrum from Arbitrum Token Reward campaigns
- Percentage of addresses Galxe is contributing to Arbitrum from Arbitrum Token Reward campaigns
- Collateral effect: Increase in the number of campaigns launched by partners and the number of NFTs and OATs minted on Arbitrum since the start of the grant initiative.
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread?
Yes, Galxe agrees to this. Galxe will be able to share bi-weekly reporting on the following.
- Protocols deploying Arbitrum Token Reward campaigns that incentivize on-chain activity
- Total participants of the Arbitrum Token Reward campaigns
- Total on-chain completions directly contributed to Galxe’s ARB incentives
Galxe will be able to share data analysis on bi-weekly increases and decreases.
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?:
Yes, this is acknowledged.
