Basic Details
Project Name:
Galxe
Author Name and contact info:
Jake Margulies, @jakemargulies (Telegram), jacob@galxe.com (email)
L2 recipient address:
0x5aB0Fdc6F0CA9Ea178c95cECCf944A4ce1AedDdD
Which Voting Cycle are you applying for?:
Season 3, Cycle 11
I confirm that I have read the landing pages for the [Builders 17] Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Growth Experiments Sub-Committee: [Yes/No]: YES
I understand that Growth Experiments grants are subject to a “no sale rule,” and I have read the terms of the rule: [Yes/No]: YES
Project Details
What are you building?:
Galxe is the leading platform for building web3 communities. With over 30 million users, Galxe has propelled the growth of Optimism, Polygon, Arbitrum, and more than 1800 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.
Galxe’s OAT is the premier product of Gaxle’s ecosystem of tools. The OAT (On-Chain Achievement Token) is Galxe’s gasless NFT solution. This easy, seamless experience allows users to mint an NFT currently on the BNB and Polygon network without any funds in their wallet. This gives protocols confidence that they will have strong campaign traction and gives users the ability to engage with projects they may not be familiar with. Protocols leveraging the OAT can expect to attract and engage users from other ecosystems in the Galxe network of 1800+ partners. Galxe is looking to add Optimism support for our OAT.
Please see below for up-to-date statistics on our BNB and Polygon OAT. Since we launched our OAT over a year ago, we’ve seen incredible growth.
BNB OAT
- 5M+ minted
- 626,413 unique holders
- Top erc-721 contract on BNB
Polygon OAT
- 10.1M+ minted
- 1,212,631 unique holders
- Top erc-721 contract on Polygon
Our Optimism Quest campaign with the Optimism team had over 3.4M+ NFTs minted and achieved 47.7% growth on the Optimism network following the campaign with some protocols achieving over 100% growth. Throughout the four-month campaign, the Optimism Quest was the top erc-721 contract on Optimism. For future quests, we’d like to have an Optimism OAT available for protocols to leverage. We anticipate the Optimism OAT having similar success to the Optimism Quest and rivaling the Polygon and BNB OAT. The Optimism OAT will allow us to align more deeply with the Optimism team and further Optimism ecosystem growth + development.
Optimism Quest Results:
https://dune.com/oplabspbc/optimism-quests-project-usage-growth
Galxe has been working hard on finding ways to prevent sybil attacks. With credentials, Galxe is able to token gate any OAT campaign. Credentials that can be used to fight sybils on the Optimism network can include e.g; “Have X amount of transactions on Optimism” or “Hold X amount of OP in your wallet” which is similar to our ETH POS Transactor Credential | Galxe. This credential checks whether a user has at least 30 transactions on ETH Mainnet in order to become eligible to participate in a campaign. Galxe credentials are completely customizable and can fit any project’s needs. Additionally, Galxe is the creator of the Galxe Passport. The Galxe Passport is a credential that represents real, verified users in the Galxe ecosystem. The Galxe Passport is a non-transferable token that is optional for users to mint.
The OP OAT will likely become the default OAT on Galxe as we plan to roll back our subsidization of the Polygon and BNB OAT. This means that once subsidization is rolled back this month for BNB and Polygon, non-native OP protocols will then begin to leverage the OP OAT just to give their users a gasless minting experience. Currently, Optimism doesn’t have a gasless NFT solution for community growth and Galxe is looking to be the first solution on Optimism to implement one. Galxe is thrilled at the opportunity of being part of a thriving NFT ecosystem on Optimism.
Why do you believe what you are building is going to succeed?:
Galxe gives protocols the ability to drive new user growth and retention through the use of the Galxe infrastructure. The crypto space has always struggled with being able to find the right users for your project in addition to finding ways to consistently engage with your community. Our tools allow protocols to attract and engage the perfect user through Galxe’s network of credentials. At the same time, dapps own the data that they curate into Galxe whereas in a web2 world, only the big corporation will monetize off your own data. We look to put the data in the hands of the people that need it most at Galxe.
Galxe supports the minting of NFTs on 15 different blockchains currently. One of the exciting parts about Galxe is that you are able to tap into a variety of users from all types of ecosystems ranging from infrastructure, DeFi, GameFi, Social, Wallets, etc. There has never been an easier way to attract and engage the perfect user.
At Galxe, we are able to work with any project no matter the lifecycle the project is at. Our Twitter/Discord bot makes it seamless for protocols to grow and manage their community. Our tools for on-chain tracking allow protocols to incentivize and drive users to the part of their protocol that needs attention. Galxe is your one-stop shop for on-chain and off-chain growth and acts as a discover to earn protocol for many users. Users will come to Galxe to find the best Optimism protocols running growth campaigns. With our 130K DAU and 30M+ Galxe ID users, there has never been a better place to discover the hottest protocols on Optimism.
As for the user’s perspective, reputation and identity are crucial in growing the crypto space. Galxe allows users to build out their reputation in the Optimism ecosystem and on-chain resume through their achievements and accomplishments on Galxe.
One of Galxe’s biggest use cases is the beginning of an on-chain loyalty program through NFTs and credentials. It’s time for your protocol to begin building your on-chain loyalty program through Galxe. As Galxe continues to onboard more protocols and users, Galxe will become a hub for growth and discovery across all ecosystems in crypto.
Galxe has already seen success with many Optimism ecosystem partners including ODOS. ODOS came to Galxe to build their community and drive protocol growth. ODOS saw remarkable results both on-chain and off-chain, with over 1.4M in NFT mints. On-chain growth was highlighted by an increase from $6M to $9.4B+ cumulative trading volume, 3.1M+ total swaps, and 91K+ unique users. Off-chain growth was highlighted by growing from 900 to 163K+ Twitter followers.
ODOS Case Study:
Protocol Growth: Odos | Galxe Docs
ODOS Campaign Page:
How many users does your project have currently? Please include how you arrived at this estimate:
Currently, Galxe has 30M+ Galxe ID users, 1800+ ecosystem partners, and 130K+ DAU. We measure Galxe ID users by how many wallets have been connected to Galxe while our DAU is measured by Google Analytics.
How will receiving a grant enable you to further the mission of maximizing the number of users interacting with Optimism? Please include a step-by-step flow of how you imagine this grant can lead to a greater number of user interactions with Optimism:
This grant that we will receive from Optimism will allow us to launch an Optimism OAT (On-Chain Achievement Token). Currently, our OAT is our premier product at Galxe since it is a gasless solution for our users. Our OAT makes it an easy, seamless experience for the users to mint, while also giving protocols the ability to reward their own users.
An Optimism OAT will allow Optimism and its dapps to engage with new users from different blockchains as the OAT provides a low barrier of entry when being minted. A user who mints the OAT will not be required to hold OP in their wallet. As mentioned earlier, Galxe has worked with over 1800+ ecosystem partners, achieved 30M+ Galxe ID users, and has 130K+ DAU. Not only will Optimism users benefit from the OAT, but so will the entire Galxe partner ecosystem and our users. The Optimism OAT will drive the Optimism NFT ecosystem to new heights while it likely will become the top erc-721 contract on Optimism.
What is also exciting is that the Optimism OAT will allow you to onboard more protocols that don’t currently support Optimism. Non-native OP protocols will also use the OAT because of its glasses structure and non-Optimism users will mint the Optimism OAT because of the gasless experience.
This has the chance to become the default OAT on Galxe with Optimism’s subsidization. Galxe will also use the Optimism OAT for its internal campaigns too.
Tell us about the users you plan to target with this grant. Include any defining characteristics that will help you identify and target them. How would these users interact with Optimism? For how long?:
Galxe plans to leverage our 1800+ ecosystem partners and 130K+ DAU to use the Optimism OAT. We plan to line up many launch partners on the first day and run incentivization programs to aid the adoption of the Optimism OAT. The Optimism OAT will likely become the default OAT on Galxe as we plan to roll back our subsidization of the Polygon and BNB OAT. These users will interact with Optimism as long as there is an Optimism OAT. In addition, we expect more Optimism protocols to begin using Galxe to leverage the Optimism OAT. The idea is to drive long-term growth for Optimism protocols through the Optimism OAT. Optimism will also be able to leverage the Optimism OAT for any internal initiatives that they have including but not limited to hackathons, ambassador programs, IRL events, protocol growth, etc.
Provide us with links to any of the following for the project:
- Demo: N/A
- Website: https://galxe.com/
- Twitter: https://twitter.com/Galxe
- Discord/Discourse/Community: Galxe
- Github: Galxe Team · GitHub
- Technical/Economic Documentation: Introduction | Galxe Docs
- Other: Medium: https://blog.galxe.com
Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.):
Since Galxe integrated Optimism in July, we’ve seen 711,110 unique transactions on Galxe through the Optimism network. In addition, our partners have launched 278 Optimsim campaigns on Galxe.
Who are your competitors, and are they on Optimism?:
Our competitors are Layer3, Quest3, and Crew3, and not one of them is on Optimism.
Please link to code audits (if any):
Smart Contract Audits | Galxe Docs
Team
Who are your founders?:
Charles Wayn and Harry Zhang
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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 $10M from top VC funds around the globe, had an oversubscribed public sale on CoinList, and launched the $GAL token in May on the majority of tier 1 CEX’s which included Binance and Coinbase on the first day. 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.
What makes your team well-suited to carry out the project described in this proposal?
Galxe is the best community-building tool and hub in the web3 space. Galxe has helped over 1800+ ecosystem partners achieve their growth results and implement long-lasting on-chain loyalty programs. Our experience running and hosting the Optimism Quest is a strong reference point for the quality of our work. We are looking to replicate our success with our BNB and Polygon OAT and have no doubt we will achieve that success and more.
Is this your first Web3 project?: If not, what else have you built? (Share links, Github repository, or any other useful information.):
Galxe’s founders have previously founded the blockchain streaming service, DLive, which they successfully exited in 2019 after a sale to BitTorrent.
Grant Request
What is the size of the grant request? (250k OP max):
200,000 OP
How do you justify the size of the grant?:
Galxe is looking for a grant of 200K OP and it will go straight towards subsidizing the Optimism OAT that we implement on Optimism. We justify the size of this grant by subsidization of the OAT, but the grant is indirectly going back to the projects and users on Optimism for their gasless growth campaigns on Galxe, the leading platform for building web3 community. We want to make sure there is enough gas for the OAT and expect heavy demand for the brand-new feature. 100% of the grant will go towards helping these partners give a gasless minting experience to their users and none will be kept by the Galxe team.
Roadmap and Distribution Plan
Describe in discrete steps how you will successfully implement your grant plan:
Once the grant is received, the Galxe team will be implementing the Optimism OAT on Galxe. All OP tokens will be loaded up into the contract created by Galxe to make OAT Optimism’s first NFT gasless solution. Galxe will begin marketing the product ahead of the launch and during the time the product is live. PR & marketing initiatives will be run around the release of the OAT with incentives in place for protocol usage.
It will take roughly two weeks for our OAT to be deployed on Optimism and our PR agency, Serotonin, will take the lead on external PR marketing.
How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving. Distribution should not include the sale of any tokens by the grantee or the use of tokens for compensation, protocol expenses, etc. See the [no sale rule here:
There will be no tokens distributed to users as the tokens will go towards the Optimism OAT gas fees. However, we can consider distributing some OP tokens as a way for rewards to increase Optimism usage and long-term growth of Optimism.
Over what period of time will the tokens be distributed for each initiative?:
OP tokens will be loaded up into the smart contract created for the OP OAT to make it a gasless user experience. Any OP that is not used at the end of the grant will be sent back to Optimism.
Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project throughout your work on the project. Do not use distribution of the grant itself as a milestone:
The benchmark milestones we will set forth are to have 20 Optimism native dapps deploy an Optimsim OAT in 3 months. Additionally, the other benchmark is to have 20 non-native Optimism dapps deploy an Optimism OAT in 6 months.
Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards. Do not use distribution of the grant itself as a milestone:
Critical milestones will be to have 75K total Optimism OAT mints in three months and 200K Optimism OAT mints in 6 months. This will be a cumulative total between native Optimism dapps and non-native Optimism dapps.
If the OP tokens are for direct distribution to users, why will incentivized users and liquidity on Optimism remain after incentives dry up?:
Tokens will not be for direct distribution to users. Tokens will only be to subsidize the gas fees for users.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.):
0x5aB0Fdc6F0CA9Ea178c95cECCf944A4ce1AedDdD. The smart contract for the OAT will be generated once the proposal passes through.
Optimism Relationship
Does your project solve a problem for the Optimism ecosystem? If so how?:
Yes, at this time, there is not a gasless solution on Optimism for ecosystem growth and development. The Optimism OAT solves this problem by allowing Optimism protocols to run on-chain and off-chain growth campaigns with a gasless user experience. It also solves the problem of being able to attract and engage users from other ecosystems Galxe has worked with that Optimism may not have had the chance to interact with yet.
Why will this solution be a source of growth for the Optimism ecosystem?:
Yes, this solution is all about growth, development, and retention. At Galxe, we pride ourselves on being the growth experts in the space and believe this solution will be an incredible tool for the Optimism ecosystem. All Optimism dapps will get strong Galxe support and guidance on running growth campaigns. The OAT will allow Galxe to work even closer with protocols in the Optimism ecosystem and the Optimism team for any internal campaigns they may have. The OAT will focus on ecosystem protocol growth and retention.
Is your project Optimism Native?:
No, Galxe is a multichain project.