Gala Games Burns $637M in GALA Tokens to Secure Community Trust
Gala Video games has taken a courageous step by burning practically 21 billion GALA tokens, valued at over $637 million, following the completion of its V2 token airdrop. This substantial discount in Gala Video games’ reserves goals to alleviate worries a few potential “dump and exit” occasion.
Consistent with their 2023 Imaginative and prescient Paper, Gala Video games has begun burning their native token, $GALA, in response to the neighborhood’s requests. This initiative is a part of the Gems program designed to help cellular growth and strengthen the node ecosystem. They pledged to burn 2 billion $GALA over the yr—an untrackable dedication beneath their v1 contract, however that is now attainable with the arrival of v2.
In an extra stride to solidify their network, Gala Video games additionally burned an extra 3,961,582,987 $GALA, equal to their complete $GALA income ever acquired.
Gala Video games
Gala Video games is turning into a big participant within the play-to-earn gaming business, attracting a lot consideration. Their objective is to vary our understanding and interplay with on-line video games.
Important parts just like the Gala Video games Node, Retailer, and Pockets contribute to an built-in setting that permits gamers to own their digital property and acquire rewards.
Notable video games developed with Gala Video games embody Townstar and Spider Tanks.
Dedication to Neighborhood
The choice by Gala Video games to burn billions of tokens is a noteworthy transfer. Gala Video games is doing this to reassure their neighborhood of their dedication to their shared trigger and the long-term viability of their node community.
In doing so, they’ve proactively addressed the looming concern of potential exit scams—a priority widespread within the blockchain business.
Going ahead, Gala Video games has set its sights on a promising future. They’ve established a pockets with 2 billion $GALA as a strategic reserve, overtly labeled on-chain for all to confirm. Protected by a multi-sig pockets, this reserve testifies to Gala Video games’ long-term dedication to its neighborhood and dedication to supporting the node community.
In a pioneering act of sustainability, Gala Video games pledges to maintain solely on their every day ecosystem rewards, successfully committing to thrive inside their fostered ecosystem. Their goal is evident—to boost the node community in the long term, making certain collaborative progress.
Gala Video games, an organization initially based on a dream, has grown into an embodiment of true possession and progressive financial fashions. Having spent a number of years laying the groundwork for his or her imaginative and prescient, Gala Video games has developed from a small group on a Zoom name to a world gaming firm boasting roughly 400 workers.
