Galaxy Coin ( GLXY ) Introduction
Galaxy Coin is a new automated market making & yield farming smart contract on Polygon network, which provides a self-sustainable mechanism and adds value to the protocol. It is a platform empowering high APY% in the Polygon ecosystem with a focus on being fast moving, community driven dynamic vaults to provide users with optimised yield strategies. As the Decentralised Finance (DeFi) world grows, the search for the best yield grows with it. On the other hand Polygon has seen exponential growth since its launch. It has brought fast and cheap transactions to a growing number of platform users. This has resulted in an explosion of DeFi protocols on the platform which have brought with them countless opportunities for yield. Our vaults will initially utilise liquidity provider tokens from the ecosystems of most popular exchange, https://quickswap.exchange As further opportunities for yield farming present themselves in the Polygon ecosystem, our vaults will adapt to take advantage of these. Which will provide our users with yield optimisation strategies and fantastic returns.
Why Galaxy Coin is using Polygon Network
Polygon (formerly known as MATIC) is a blockchain scalability platform called ‘the Ethereum’s Internet of Blockchains’. It is the answer to some of the challenges faced by Ethereum today — such as heavy fees, poor user experience and low transactions per second (TPS). It aims to create a multi-chain ecosystem of Ethereum compatible blockchains. Originally, the project began as the MATIC Network. Later it was rebranded as Polygon when its scope expanded. It aims to provide distinct blockchains that can freely exchange value and information. Polygon is involved with some of the hottest areas in cryptocurrencies, such as DeFi (Decentralized Finance), DApp (Decentralized Application), DAO’s (Decentralized Autonomous Organizations) and NFT’s (Non-Fungible Tokens).
It’s Elegant, Simple, Secure, Innovative and Self Sufficient.
Galaxy Coin is the native token of the https://galaxycoin.finance platform on Polygon network. Using Polygon is advantageous over Ethereum as it will significantly reduce transaction fees. Also Galaxy Coin is building a multichain decentralized exchange as well. GLXY can be staked in the Galaxy vault which will give more GLXY as reward according to the ( APY % ). Galaxy Coin accrues value through partial redistribution of vault fees collected and sharing of harvested vault rewards.
Fee Distribution Model
Admin Fees are generated from all of the user’s transactions. Which are implemented as below: 1% for operation cost 4% for liquidity ( 50% Matic / 50% GLXY ) to the Liquidity Pool 2% gets burnt.
Galaxy Finance Vaults
We have implemented yield optimised vault, Which provides our users with greater rewards for DeFi participants and liquidity providers by adding liquidity to Galaxy Coin at https://quickswap.exchange Ex.( Matic / GLXY ) LP token, Lp token ( Liquidity Pool token ) can be staked and locked at https://galaxycoin.finance/app in our farming vaults. Fees are as little as 0.1–0.2%, Which is only charged on withdrawal of LP tokens. And will be providing Galaxy users with higher returns through strategies. Users can remove their LP tokens from the vaults at the end of each locking period. We have optimised vaults and tailored strategies that interact with many many projects and Defi platforms (often newly released tokens) and with our community support we will continue our developments and cook new strategies moving forward.
Galaxy Coin Details & Tokenomics
Coin Name: Galaxy Coin
Ticker — GLXY
Decimal — 18
Total Supply — 5,000,000
Network — Polygon
Website — https://www.galaxycoin.finance
Discord — https://discord.gg/VXdghSVCCc
Telegram — https://t.me/GalaxyCoin_fi
Twitter — https://twitter.com/GalaxyCoin_Fi
Audit Report — https://www.galaxycoin.finance/GalaxycoinAuditReport.pdf
Contract address: https://polygonscan.com/token/0x438374eA6e7AAfEE3BE6f925BA50071DD22ed70b
Token distribution:
Galaxy Coin has a supply of 5,000,000. ( increases as more users claim rewards from staking / mining which adds to the total supply gradually )
Allocation of the GLXY details:
# 1,000,000 GLXY ( 20% GLXY Initial Liquidity on QuickSwap )
# 3,000,000 GLXY ( 60% GLXY Liquidity Mining & farming )
# 500,000 GLXY ( 10% GLXY Developers Token )
# 500,000 GLXY ( 10% GLXY for Marketing and Operations )
Note: Developers Token will be locked for 12 months
( Will not be staked in the platform ) For betterment of the community and Galaxy Coin ecosystem.
Features
Automated Market Makers
Automated market makers are smart contracts that create a liquidity pool for Galaxy Coin, which are automatically traded by an algorithm rather than an order book. This effectively replaces a traditional limit order book with a system where assets can be automatically swapped against the poolʼs latest price.
Dex Aggregator
Decentralized exchange (DEX) aggregators, also known as liquidity aggregators, compile the exchange rates of numerous DEX platforms and show you a list of platforms offering the best value for your desired digital asset trades.
Lottery
We are introducing a Lottery feature within the contact. Which provides over 100 lottery pools. Each pool has 50 tickets with 3 winners guaranteed. 85% gets allocated among the winners and 15% goes to operation and maintenance.
Yield farming
Also referred to as liquidity mining, is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards. In many cases, it works with users called liquidity providers (LP) that add funds to liquidity pools.
