The Galactic system serves as a decentralized exchange (DEX) that adopts a peer-to-pool design, facilitating a low-cost and zero-slippage crypto synthetic assets trading experience.
In addition to GALA – Galactic’s native token, Galactic aims to optimize the system’s inclusiveness and mitigate single cryptocurrency risks by also accepting selected other major cryptocurrencies with varied collateralization ratios as the base collateral to construct the Debt Pool.
Galactic requires much lower collateralization ratios than other peer-to-pool synthetic protocols that are currently in the market. This is achieved by the built-in dual-step liquidation mechanism that utilizes the gUSD reserves in the Galactic Stability Pool, and a redistribution mechanism that redistributes liquidated risky debt positions and the corresponding collateral assets to stakers with much healthier collateralization ratios.
In order to achieve true decentralization and increase censorship resistance, the Galactic development team will not operate its own system frontend in the long run. Instead, the team will provide a series of API and advanced open sourced applications to incentivize third-party developers to provide access to the protocol.
Galactic’s is on a long-term mission to democratize the creation of synthetic assets and empower ‘User Generated Assets (UGA)’. Just like anyone can create an online video content (UGC) today, everyone will have the ability to create synthetic assets, and the type of synthetic they create is only bound by their imagination.
initial system design and planning
Funding for development and marketing costs
Detailed discussions of system mechanics
System testing and optimization
CONNECT WITH ETHEREUM
Official launch with major asset types to begin
Deploying system frontend SDK
SHORT-SELL SYSTEM LAUNCH
Allowing traders to short sell
PERMISSIONLESS GAL CREATION
Democratizing the creation of synthetic assets to users