An Ethereum-based crypto synthetic assets issuance and liquidity protocol
A decentralized, permissionless, and zero-slippage exchange platform to create and trade any type of crypto-based synthetic assets in the world
WHITEPAPER
MAIN Protocol Features

PEER-TO-POOL SYSTEM DESIGN SUPPORTED BY MULTI-ASSET COLLATERAL POOL

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.

DUAL-STEP LIQUIDATION MECHANISM ENSURES THAT STRONG SYSTEM STABILITY IS ACCOMPANIED BY SUPERIOR CAPITAL EFFICIENCIES

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.

DECENTRALIZED FRONTEND OPERATIONS AND PERMISSIONLESS SYNTHETIC ASSET CREATION

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.

ROADMAP

DEC 2020

PROJECT FOUNDED

initial system design and planning

JUN 2021

SEED ROUND

Funding for development and marketing costs

JUL 2021

WHITEPAPER RELEASE

Detailed discussions of system mechanics

SEP 2021

SYSTEM PROTOTYPE

System testing and optimization

Q4 2021

CONNECT WITH ETHEREUM

Official launch with major asset types to begin

Q2 2022

DECENTRALIZED FRONTEND

Deploying system frontend SDK

Q3 2022

SHORT-SELL SYSTEM LAUNCH

Allowing traders to short sell

Q4 2022

PERMISSIONLESS GAL CREATION

Democratizing the creation of synthetic assets to users

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