⚠️The information summarized below have been summarized with the help of AI. They are not exhaustive, may contain errors, and do not constitute an investment advice. Always refer to the official sources and do your own research.⚠️

Introduction to Node Purchases and Wallet Requirements

The town hall kicked off with a discussion about purchasing nodes and the necessity of using a single wallet. Participants were informed that all assets, including Soulbound Tokens (SBTs), payments, and nodes, should be kept in one wallet for the time being. This is primarily for technical reasons during the testnet phase, as the current system cannot support drawing from multiple accounts. Keeping everything in one wallet ensures that assets remain valuable and trackable.

Node Purchases: Investment and Activity

A participant asked whether buying a node requires active participation or whether it’s a passive investment. The response was clear that owning a node does not automatically entitle you to passive earnings; nodes represent the right to do work within the network. This work is not limited to validation but extends to social and verifiable tasks that contribute to the blockchain.

Communication Challenges and Revisions

Several participants expressed concerns about the clarity of communication in previous weeks. The team acknowledged that the information provided had been overly technical and dense, leading to confusion. In response, they committed to simplifying future communications with more accessible language, bullet points, and concrete examples, particularly for understanding node-related purchases.

Node Licenses and NFTs

The meeting clarified that when you purchase a node, you automatically receive a license as part of the package, represented by an NFT. This NFT acts as proof of the license and is required for regulatory purposes. The license is essential because it gives the owner the right to perform verifiable work on the blockchain.

Faction Updates and Upcoming Features

There was an update on the Tester and Developer factions. The tester faction had begun with a few initial quests, and the developer faction would soon follow. Both factions aim to foster collaboration between developers and testers on the Galactica testnet. The Tester faction will expand its activities once the Developer faction is fully operational.

Differentiation Between Node Types

The confusion around different types of nodes—validator nodes and other node-based nodes—was addressed. The team emphasized that not all nodes are validators, and purchasing a node does not automatically mean you have to perform validation work. However, the validators will eventually migrate to the new nodes as NFTs, making it easier for them to transition without additional steps.

Long-Term Vision for the Network

Looking forward, the team expressed optimism about Galactica’s future, predicting that within five years, it could become the largest on-chain social network. They anticipate onboarding multiple off-chain systems and KYC providers, positioning Galactica as a private, user-owned social network that respects privacy and ownership of data and assets.

Future Use Cases and Node Economics

The conversation shifted to the long-term utility of nodes and how they would drive sustainable rewards. Unlike other projects where node rewards dry up after a few years, Galactica is designing its economic model to maintain node incentives over the long term. The aim is to ensure that node ownership remains valuable even decades into the future.

Technical Clarifications and Future Announcements

Several participants raised technical questions, including the impact of upcoming Atom Cosmos SDK updates. The team deferred to their developers for a more detailed response, acknowledging that updates could involve significant changes to smart contracts. Additionally, they hinted at exciting future announcements and product launches in the coming months.