Building a Killer App with Web3 Credentials - TOKEN2049 Singapore 2022

hello everyone so um our company name is Galaxy previously uh we were named uh project Galaxy and today we're going to talk about a little bit about Galaxy itself and how to create the killer app with the website credentials powered by Galaxy um a little bit background about myself my name is Charles Wen I I um I'm the co-founder of Galaxy uh so previously our company's name was Project Galaxy and a month ago we had a Rebrand and change it to a Galaxy we also have a token called gal the gal token and previously I was the co-founder of D live a live streaming platform uh which uh uh we were acquired by by BitTorrent in 2019 in late 2019 so about Galaxy I don't know how many people here heard about Galaxy but we are uh we we keep saying we keep saying we're creating impact for experience with web 3 credentials um for users for partners um so previously project Galaxy we uh were founded last year just last year March 2021 um a galaxy is the leading web3 credential Data Network um that you know help Brands and and Brands and uh organizations to empower their community and Brands uh and a community and products with the credential so you may have questioned what what are the credentials right so uh what kind of data can be can be can be saying can be used as a credential so in our opinion all kind of noun quantitative Behavior data should be you know called credential data and that includes you know your real world achievement your own channel achievement um you know I swapped ten dollars in uni swap I'm the top Trader on I'm the top Trader on openc you know all kind of this are your credentials and there's there are a lot of things can be built on top of you know these credentials basically those are user tags right there can be there there can be a lot of apps built on top of you know this credential Data Network for example Community can run their loyalty programs based on your credentials um I I can design a user journey I can have I can design a my user a milestone for for my uh user for my for my user from beginner to you know Champion user um so loyalty program is the the biggest the use case right now and also you can use it to bootstrap your community to target audience uh to do user acquisition basically uh and the other thing is um growth hacking like I mentioned and also um customize the governance so customized governance a lot of people brought up this topic just because right now um the only way to to participate in the governance is to you know hold um a hotel hold a lot of your your governance token but however if we were able to use credential uh the power of credential you know customize the voting power for people who hold certain credentials you know you may be able to to to to let your Champion user your core contributors to have more voting power in your governance um and the other thing we're discussing recently it's been a trending topic which is the credit scoring right there uh there will be a lot of ways different kind of scoring I would say not just the credit but but different kind of scoring based on your credentials based on you know how how fun uh how good the skill is um we can give you a score based on that so about Galaxy um we we essentially have three parts uh three three different components right now one is Galaxy credentials and we have different types of credentials for example subgraphs apis those are Dynamic credentials based on it's an event based so as long as you you know completed uh certain actions you will acquire you you you you will get that credential so we have sub graphs and API we also have Twitter bot and Discord bot which is we see we call it off chain credentials and that basically you know based on your behaviors on Twitter on uh Discord uh you have different uh it will it will be recorded as a different credentials on our credential Data Network and also on chain snapshots those are relatively easy because it's provided by the the the app the app developer for example if I'm a the developer of a DEX uh I know you know if my data is not on chain and it's it's it's off chain only can be seen by us but by the app developers I will need to you know I can create multiple online snapshots based on that and upload it to to the dashboard we also we also recently announced a new feature called Galaxy passport which is the on-chain credential uh unchain kyc credential solution um this is I think right now is probably the top top one in the top top two on top three um ongen kyc solution in the industry um I think in total right now we have about 40 000 holders of Galaxy password essentially uh um Galaxy passport allow users to do their kyc but bring this credential as a so-bound token on chain to your wallet address minted to your wallet address and then when you you know when you interact with other apps they won't see your privacy data documents but but they was no okay you you already verified and you already acquired this so one token that basically already give you the access to you know some features you know they only limited to to human verified users uh the other feature which is the the biggest one we have now is the Galaxy campaigns so we have a get we have a total of 830 uh organizations Partners projects they're using uh Galaxy campaigns um based on Galaxy credentials so uh people use it for you know own chain tasks quests you know credential based nft rewards um we also have a new we also have a product called oat ownchain achievement token and also they run bounties based on these credentials and so far the result was uh very good I think a lot of app developers loving it it's become what number one gross engine in the in the space uh we also have a feature called Galaxy ID so guys the ID essentially allows you to connect your multiple wallet address or addresses from from different chains but also uh it allows you to uh connect your Twitter account Discord account GitHub GitHub account as well as email address you can verify your email address there so it's a connector of you know multiple uh credential data your multiple credential data source and you know essentially it helps you participate better or easier in Galaxy campaign page so in in multiple different campaigns uh the use case can be you know if today there is a developer I want to do I want to do user growth right I wanted I want to I want to Define who is my beginner users um by doing that the requirement is you have to follow me on Twitter you have me you have to join my Discord acquire the certain role on Discord and also you have to swap at least the ten dollars on my on the decks right so combine all of those credentials you will be eligible to get an nft badge and which is you can call it you know beginner user or um any other name so that's a that's the major components of a galaxy right now um and the two in two you know features two the two biggest features um one is Galaxy oats so we created this uh we call it oh it's a or some people call it oet uh which is a on-chan achievement token we um it stands for uh it stands for online achievement token it's a lightweight nft badge solution you know cashless um for um to represent your credentials and so far we have a total of 10 million odds uh have been minted since at the launch of this year January 2022 and right now Galaxy old contract is the most active contract on ERC 721 on BNB Chen on polygon I think it's also uh the top five on Arbitrage and and optimism um so there's another one and oh so far there's a total of 10 million uh I was minted and I think we have about 700 to 800k Unique um unique uh holders uh which is you know the largest nft community in the world and the Galaxy ID like I said it connects your multiple credential data source it connects you know you connect your own chain identities connect your off-chain identities as well and we also have a feature called Galaxy ID SDK which essentially the SDK is to is built to help uh developers to uh help developers to build a to build app with identity data easily and um uh with one SDK basically so developers who integrated um Galaxy ID SDK they can easily uh they can directly get the this user's credential data and if they want to offer some customized feature for users who hold the certain credentials they can do it easily so that's Galaxy ID and so far there are a total of I think it now is 5.4 million registered Galaxy ID users and a total of 830 projects they're using Galaxy daily or weekly and for all chain users we have around 600k I think 500k or 600k monthly all chain users across 10 blockchains I think um that's a that's a that's a very active uh unchain user base in uh in the blockchain space and also there are about 2.2 million to 2.4 million and you have T's England nft badges being produced by Galaxy platform every month um so my topic is uh you know creating a killer app with the web 3 credentials because we've been working with uh 830 projects to to build this to to help them acquire their users and the retain their users as well as you know find their own product Market fit basically so um we think you know those are very important in our experience you know we we work with some projects and they can really become a killer app so so the first one is important which is important is uh you find a good uh product Market fit so uh talk about this you know you always want to find your target audience first and then test with some selected users so in our case and and then as I can say keep building with the early users and partners so in our case we created a demo uh for sushi swap which is last year um last year February sometime we created a demo for sushi SWA which you know we basically designed some on-chain tasks for example you swap ten dollars you will get different Rises different rides are different nfts and different ingredients and then also if you provided ten dollars worth of liquidity you get different seaweed Diamond seaweed a regular seaweed and then after you have all of them you can you can merge them Forge them into a into your sushi nft or bento box nft which is you know served as a ultimate uh the the status badge for you in the sushi community so that was the first case study we created basically for uh Sushi Swap and it works very well they love it and we we realize that you know a lot of companies would definitely want to have this feature we need this feature and then we test it with more with more clients that includes year in finance alpaca finance and a lot of other D5 protocols um so we will at that time we would start to realize okay there there is a product Market fit for Galaxy uh it's not you know it's not something people don't really need um and then next step what we did is we we really go to you know spend time Define our team strengths um so you know some people some teams they're the tech Focus some teams are really good at BD and operations and and marketing uh for our case we're struggling we're strong in engineering and Prada but we think we can do better in in marketing and BD so what we did is uh you know we basically you know really make sure the product that the um the the company we're working on can really amplify our uh skills here so so Galaxy as you can see so far there are 830 Partners building on top of um uh using Galaxy right now that's a lot of BD work and also in terms of marketing and branding messaging um we we're we're a global brand now so the last thing is you ship with your community right you you build a community with your community you build you build a product with your users so for uh for hash flow uh so so that one of the use cases we have two use cases here uh one of the use cases is called hash flow so hash flow is a is a is a is a DEX no slippage um decks live on they've been live since uh two years ago but um we work with them we run a growth hacking campaign with them so essentially they want to encourage their users to become early adopters of the project and you know increase their trading activity or user uh um overall tax activities so the solution is we design with them a series of collections which we call hashbot and then they Define a series of tasks basic basically uh if you swap if you uh if you farm or staking and also if you participate that uh participate the governance right those they Define those taxes tasks as credentials and then they have a different uh and you have tease you know in the higher spot theme uh connect them together um and turns out it works very well that was the first viral campaign we had Community loves it and everybody loves the idea the result was very impressive we've seen you know um I think their monthly trading volume jumped from 30 million dollars amounts to uh two billion dollars so the result you know like I say 3 304 90 98 increase in terms of trading volume and 404 four times more um in terms of active weekly users and the total we see a 30k potential participate so hash flow is one of the case for tax growth we also work with polygon you know polygon wants to drive users they want to see more users trading on openc on polygon Network right that was the first Network they supported other than ethereum openc and then but we basically decide you know we encourage people to to list their assets on a polygon also you know trade and and buy their assets our polygon uh our openc and it works very well um the result that was the largest campaign we had last year which uh a total of a total of 130k mystery boxes minted that means a total of about 70k unique users basically if you trade one times you will receive one chance to open the mystery box if if you if you traded more than five times you will get you'll get two changes uh two mystery boxes for you to open yeah but yeah that's the idea um so that's all um sorry my time is up but I will be around um and we have an event tonight as well and our um on the 30s launch time so feel free to meet us uh anywhere thank you