What is this about?

Galxe, a platform for building web3 communities, has proposed a program to incentivize user activity within the Arbitrum ecosystem. The team, led by co-founders Charles Wayn and Harry Zhang, is requesting a grant of 500,000 ARB to support Arbitrum’s ecosystem, drive new user growth, reward their current community, and build out their own on-chain loyalty program on Arbitrum. They also plan to increase NFT asset transaction volume on Arbitrum and assist developers in deploying NFT contracts on Arbitrum. The program will include various Arbitrum protocols and aims to develop their ecosystems. To prevent misuse, a Space Tiers system has been introduced, and 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 has also announced the introduction of Galxe 2.0, which includes a more intricate scoring system, a mobile app, a smart balance feature, and a Telegram/Discord bot for push notifications. The proposal has moved to the final stage of the application process.

How is the community reacting?

The community's reaction to Galxe's proposal has been mixed. While some members have shown strong support for the proposal, praising Galxe's potential impact on the ecosystem and their professional approach, others have raised concerns about the execution strategy of the proposal and its value to the Arbitrum Ecosystem. There are also concerns about the platform's Sybil prevention measures. These concerns could potentially hinder the acceptance and success of Galxe's proposal.

Why this is positive?

The proposal by Galxe is seen as a positive step towards driving ecosystem development on Arbitrum. The program could stimulate activity within the Arbitrum ecosystem and incentivize long-term usage of Galxe’s infrastructure. It could also help identify valuable contributors and reward them appropriately. The Space Tiers system could ensure that only quality campaigns are rewarded, and the requirement for an on-chain action and a Sybil prevention credential could prevent misuse of the incentives. The new features in Galxe 2.0, such as the intricate scoring system and the mobile app, could enhance user experience and increase participation. The grant proposal could provide much-needed resources for Arbitrum protocols, and the team's commitment to transparency and accountability in grant distribution is commendable.

Why this is negative?

Some community members have raised concerns about the execution strategy of Galxe's proposal and its value to the Arbitrum Ecosystem. There are also concerns about the platform's Sybil prevention measures. These concerns could potentially hinder the acceptance and success of Galxe's proposal.