Gala Video games accomplished their GALA token migration. This strikes the token to a brand new contract which shall be extra appropriate with Gala Video games’ plans for the long run, and with their upcoming GRYI blockchain. Alongside the way in which, the group additionally determined to burn over 20 billion tokens, severely decreasing the variety of tokens they management!
In the event you had your GALA tokens on an trade or in your pockets, then then transition must be a seamless expertise for you (although apparently there may be nonetheless some difficulty with Coinbase). In the event you maintain GALA v1 tokens in an LP pool, you then missed your probability to withdraw them and at the moment are caught with ineffective tokens!
The deal with for GALA v2 is 0xd1d2eb1b1e90b638588728b4130137d262c87cae. You should use this in Metamask to see your tokens, and in decentralized exchanges to make token swaps.
However transferring ahead, Gala desires to carry extra utility and worth to their GALA token. They’ve already introduced that GALA token would be the underlying foreign money on the Gala blockchain (GYRI), used to pay transaction charges. Additionally they lately dumped their TOWN token for the City Star recreation in favor of utilizing GALA as a substitute.
The Nice GALA Token Burn
And to point out their firm assist for the long-term imaginative and prescient, the Gala Video games group determined to burn a lot of GALA tokens in a number of transactions.
First they burned 2 billion GALA tokens which that they had promised earlier within the yr. As well as, they burned one other 3,961,582,987 GALA tokens, which equates to the whole GALA income the corporate has ever acquired! However that’s not it! One other 15 billion in GALA tokens amassed by the corporate over time was burned as effectively. They stored 2 billion tokens in a ‘strategic reserve’ pockets, and have just a few different wallets with some tokens to cowl operational bills. However, the group not has a good portion of the token provide, which is a big milestone! With one fell swoop, the Gala group makes their GALA token actually decentralized all through their group! This not solely is an enormous leap for the GALA tokenomics, but it surely additionally helps to shutdown any remarks about rug pulls or the corporate dumping tokens available on the market.
Gala will nonetheless obtain token distributions from the Gala nodes they keep to maintain their ecosystem up and operating. However these shall be on the identical distribution system as everybody else operating Gala nodes.
All of those token burns go away use with a provide of 24 billion GALA tokens and a present market cap of about 72 million.
Extra About Gala Video games
Gala Video games is a blockchain ecosystem for web3 video games. This consists of in-house video games, in addition to partnerships with different builders. Their video games in growth embrace Spider Tanks, Mirandus, Superior, City Star, and plenty of others. Additionally they bought a cellular gaming firm not way back to get a jumpstart on increasing into the cellular market.
However Gala consists of extra than simply video games. They’ve additionally launched initiatives for distributing Music and Movie as NFTs!
Gala Video games is constructing their very own blockchain referred to as GYRI, on which all of their apps and video games will reside sooner or later.
To maintain up with all the newest from Gala Video games, observe them on Twitter, be a part of their Discord, and go to their web site.
just a few video games within the Gala Video games ecosystem
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