GALA Token V2 and Gala Games Token Burn
Gala Video games accomplished their GALA token migration. This strikes the token to a brand new contract which might be extra suitable with Gala Video games’ plans for the long run, and with their upcoming GRYI blockchain. Alongside the best way, the workforce additionally determined to burn over 20 billion tokens, severely lowering the variety of tokens they management!
Should you had your GALA tokens on an alternate or in your pockets, then then transition needs to be a seamless expertise for you (although apparently there may be nonetheless some situation with Coinbase). Should you maintain GALA v1 tokens in an LP pool, then you definitely missed your likelihood to withdraw them and at the moment are caught with ineffective tokens!
The tackle for GALA v2 is 0xd1d2eb1b1e90b638588728b4130137d262c87cae. You should use this in Metamask to see your tokens, and in decentralized exchanges to make token swaps.
However shifting ahead, Gala needs to convey 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 not too long ago dumped their TOWN token for the City Star recreation in favor of utilizing GALA as a substitute.
The Nice GALA Token Burn
And to indicate their firm assist for the long-term imaginative and prescient, the Gala Video games workforce 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 another 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 accumulated by the company over the years was burned as well. They saved 2 billion tokens in a ‘strategic reserve’ pockets, and have just a few different wallets with some tokens to cowl operational bills. However, the workforce now not has a good portion of the token provide, which is a big milestone! With one fell swoop, the Gala workforce makes their GALA token really decentralized all through their neighborhood! This not solely is a giant leap for the GALA tokenomics, nevertheless it 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 might 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 contains 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 contains extra than simply video games. They’ve additionally launched tasks 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 stay sooner or later.
To maintain up with the entire newest from Gala Video games, observe them on Twitter, be part of their Discord, and go to their website.
