What happened?
Galxe has launched a new platform called Starboard, designed to help Web3 projects identify and reward their most active contributors. The platform combines both on-chain and off-chain analytics to track engagement and offers tools for distributing rewards effectively. More than 20 crypto projects have already joined the initiative, contributing over $5 million to a shared rewards pool.
Who does this affect?
This development affects Web3 projects seeking ways to reward users who make genuine contributions to their networks. Projects like Plume, Dango, and 0G Labs are using Starboard to reach users who add real value by participating in protocols and community activities. It also affects active contributors in the Web3 space who could benefit from fairer reward distribution.
Why does this matter?
Starboard’s launch could influence the market by providing a structured way to reward users who actively contribute to the growth of Web3 projects. This focus on substantial user engagement might encourage more sustainable growth within the Web3 community, moving away from inflated metrics. Additionally, the platform may attract more projects to join, further increasing the rewards pool and enhancing the influence of active users in shaping blockchain ecosystems.