Galactica's recent launch of their identity Layer 1 TestNet heralds a significant breakthrough, paving the way for under-collateralized lending and compliant Real World Assets (RWA) integration. This development holds the promise of seamlessly channeling trillions of dollars of liquidity from traditional finance (TradeFi) into decentralized finance (DeFi), reshaping the financial landscape.
Why you should care
The emergence of compliant yet privacy-preserving digital identity solutions, along with the concept of augmented reputation, represents a monumental advancement in the crypto sphere. These innovations are often hailed as the "Holy Grail" of crypto, offering a multitude of benefits.
With Galactica's technology, expect heightened capital efficiency within DeFi, the ability to trade traditional assets such as Nvidia stocks or SpaceX equity on decentralized platforms like 1 Inch — even on weekends — and the convenience of purchasing corporate bonds or T-bills via Decentralized Exchanges (DEX). Moreover, envision securing a mortgage for a new Airbnb apartment in Tulum using your global credit score.
Beyond finance, this technology opens doors to hosting national elections securely and fostering entirely new digital communities or nations.
How it works
Galactica's blockchain operates as a layer 1 protocol, distinguished by the introduction of groundbreaking primitives — akin to Lego building blocks — that revolutionize the landscape.
These primitives enable the creation of a compliant, privacy-preserving sovereign identity, along with the seamless validation and integration of on-chain, cross-chain, and off-chain data to construct augmented reputation systems.
Become a Galactican today and join their community, you’re still early!
About Galactica Network
Galactica Network is a layer-1 solution with the most flexible RegTech stack and DeSoc primitives. By leveraging zkKYC, dynamic whitelisting primitives and proofs over users’ Web3 footprints, it achieves a strong form of Sybil resistance and enables protocol-level, compliant privacy.
To learn more about this project, please visit its website: https://galactica.com.