Galileo Protocol is a cutting-edge tokenisation platform that aims to transform how luxury goods and real-world assets are owned and authenticated. The protocol is built on the Quant Network Overledger and utilises advanced AI and machine learning algorithms to provide a secure and transparent way for collectors and investors to verify the authenticity of their valuable assets.
Galileo Protocol's pNFTs are digital twins of physical objects, providing all the advantages of an NFT, such as traceability, immutability, and security while abstracting much of the complexity involved in trading a physical asset. The protocol includes a mobile app for iOS and Android devices that enables users to authenticate luxury items and manage their associated pNFTs. The app utilises computer vision algorithms to analyse the physical features of luxury items and compare them to the metadata stored in their associated pNFTs.
LEOX serves as a utility token in the Galileo Protocol ecosystem and serve multiple purposes, which include:
- Payments: The tokens can be used for payments and transactions within the ecosystem, such as purchasing luxury goods or accessing premium features on the platform.
- Incentives: Users participating in the verification process and contributing to the accuracy and trustworthiness of pNFT metadata will receive token rewards.
- Token holders can gain discounts on trading fees, access new NFT launches, pay enterprises' licenses, and participate in fair voting on protocol decisions
- Staking LEOX allows users to lower transaction fees, earn rewards, and participate in governance.
- Enterprises using the platform must purchase bi-annual licenses with LEOX tokens, which can be paid for in FIAT or LEOX
- The Galileo Protocol implements two coin-vault mechanisms to reduce the total available supply of $LEOX by 25% in the long term
- Galileo aims to deploy a DAO-like on the blockchain that will enable LEOX stakers to exercise governance over the protocol
