Now that we laid out the basics of the Galaxis Platform, we can start to introduce the importance and use of the GALAXIS utility token.
The GALAXIS utility token is being used across the whole platform, by the Engines, by the Community Creators and by Community Members as well.
How the different users will use the token will differ, but all uses follow a set of simple rules. These are:
We want to introduce token utility in multiple presentations.
We will start with the Community Members.
As this is a very important part of the platform, we take our guidance from our legal team every time we talk about the GALAXIS utility token.
These are example use cases, and NOT AN EXHAUSTIVE LIST BY ANY MEANS. New uses and more details on existing uses will be introduced constantly. Changes are fully expected.
Different membership tiers can be achieved by holding a specific amount of GALAXIS tokens for a given period of time on the membership card.Higher tier memberships can come with privileges, like members-only content, members-only vaults and specific utilities that are only available in higher membership tiers.
A special status can be achieved on a Community Card by holding a specific amount of tokens for a certain time. Once this status is achieved, the card will be exempt from the activation fee. The exemption will work similarly to the Discount Coupons explained above. The Community Treasury takes responsibility for the activation fee.
Similarly to the activation fee, with the help of GALAXIS tokens the card can be freed from paying the utility trait fees.
One of the criteria to unlock the voting functionality on a Community Card is to have a certain amount of GALAXIS tokens on the card.
The longer the GALAXIS balance is held on the card, more and more of the card's capabilities can be unlocked.
Nature of GALAXIS Tokens: The GALAXIS Token ("GALAXIS Token(s)") does not and is not intended to:
Information only: Any information related to the GALAXIS Token and/or the Galaxis protocol is not to be construed as any sort of business, investment, legal, tax, or any other sort of advice. Any such information is of general nature, does not purport to contain all information a specific individual may require, and anyone interacting with the GALAXIS Token and/or the Galaxis platform should do their own research and consult with professional advisors where needed. Any such information is provided 'as is' and 'as available', and there are no representations or warranties regarding the completeness, accuracy, and/or up-to-date accuracy of information made available. No such information is to be understood as any kind of solicitation, recommendation, or offer to purchase or obtain the GALAXIS Token and/or to interact with the Galaxis platform. Additionally, the functionalities and potential benefits of the GALAXIS Token are fully subject to the Galaxis platform and the Polygon blockchain rules.
No supervision: Neither the GALAXIS Token nor the Galaxis platform has been approved by any regulatory authority and Galaxis AG is not subject to regulatory oversight or supervision.
Assumption of risks and no liability: If you interact with the GALAXIS Token, you understand and acknowledge that blockchain and tokens are novel and experimental technologies and that you do so entirely at your own risk.
No partnership and release of claims: You agree to and do not state your will to enter into or create a simple partnerships, joint venture, or similar sort of legal or factual relationship by interacting with the Galaxis platform or using the GALAXIS Token. By interacting with the GALAXIS Token, you hereby, to the maximum extent permissible under applicable law, release all present and future claims against Galaxis AG, and against any individual or group of Galaxis project team members, contributors, or GALAXIS Token holders related to your interaction with the Galaxis platform and/or the GALAXIS Token.
Prohibited jurisdictions: You are not permitted to interact with/purchase the GALAXIS Token if, and you represent and warrant that, you do not reside in, are not located in, are not a citizen of, are not incorporated in, do not have registered office in, or are not in any other way subject to the jurisdiction of (i) the United States of America, (ii) a country or territory (together "Sanctioned Countries") that is currently the subject of any sanctions or trade embargos administered or imposed by (1) Switzerland, (2) the United Nations Security Council, (3) the European Union or any member state of the European Union, (4) U.S. authorities, in particular OFAC and the U.S. Department of State, (5) the country of your residence, or (6) by another authority having jurisdiction over you or your assets, (iii) a jurisdiction identified by the Financial Action Task Force ("FATF") for strategic AML/CFT deficiencies and included in FATF's listing High-Risk Jurisdictions, (iv) a jurisdiction (including, but not limited to, the Sanctioned Countries) in which the interaction with the GALAXIS Token is prohibited, restricted, or unauthorised in any form or manner whether in full or in part under the laws, regulatory requirements or rules in such jurisdiction.