Galxe

Author: Mani

Abstract

This proposal aims to secure a budget of 45,000 GAL tokens from the Galxe DAO treasury for the rewards of the Galxe Community Space’s third season, running from October 9th to December 24th, 2023. The tokens will be divided into two categories: 50% for leaderboard rewards and 50% for Galxe Smart Balance.

Motivation

Building on the success of Season 2, the objective is to sustain and elevate community involvement. The introduction of Galxe Smart Balance aims to offer additional utility and flexibility to users, thereby encouraging a more robust and long-term commitment to the Galxe ecosystem.

Specification

Overview

The proposed funding will serve two primary purposes:

1. Rewarding active participants based on their ranking in the loyalty points leaderboard.
2. Funding users’ Galxe Smart Balance accounts as rewards, which offer flexibility for various uses within the Galxe ecosystem.

Smart Balance

Galxe Smart Balance rewards hold significant value within Galxe itself, especially as a way for active users to have a seamless experience using the platform due to gas fees being covered across all chains. More importantly, it can be used to acquire Galxe Passport, Galxe Web3 Score, claim token rewards, and provide access upcoming features in Galxe 2.0 — including Galxe Premium features.

Scope

This proposal covers the rewards for Season 3, spanning from October 9th to December 24th, 2023. The tokens will be used exclusively for the two aforementioned categories.

Reward Distribution

• Leaderboard Rewards (22,500 GAL tokens)
  • Top 1-3 users: 1,250 GAL tokens (1st: 700, 2nd: 350, 3rd: 200 GAL)
  • Top 4 - Top 1% (7 users): 700 GAL tokens (each user gets 100 GAL)
  • Top 2-5% (40 users): 3,200 GAL tokens (each user gets 80 GAL)
  • Top 6-15% (100 users): 5,000 GAL tokens (each user gets 50 GAL)
  • Top 16-30% (150 users): 3,750 GAL tokens (each user gets 25 GAL)
  • Top 31-50% (200 users): 3,000 GAL tokens (each user gets 15 GAL)
  • Top 51-100% (500 users): 5,600 GAL tokens (each user gets 11,2 GAL)
• Galxe Smart Balance (22,500 GAL tokens)
  • The distribution will be communicated at a later date, based on leaderboard standings and any additional criteria introduced during Season 3. The amount of users in the leaderboard that will receive a Smart Balance allocation depends on the amount deemed to bring the most positive impact to as many users as possible, as well as considering the pricing structure of any upcoming Galxe Premium features in the future.

Success Criteria

• Sustained or increased user engagement in loyalty campaigns.
• Positive community feedback on the new Galxe features.
• Growth in Galxe’s user base and ecosystem.
• Further user education about the Galxe product, features and vision.

Timeline/Budget

The budget for this proposal is set at 45,000 GAL tokens. Rewards will be distributed at the end of Season 3, during the last week of December, 2023.

References

• Season 2 Proposal Snapshot Vote - Link
• Galxe Community Space - Website