The Gala Games workforce introduced on Could 15 that they may give away GALA v2 tokens to all GALA holders by way of airdrop.
There will probably be a 1:1 change charge for all customers, and the GALA v1 token will probably be promptly deserted. Customers who already possess GALA in an Ethereum pockets are exempt from additional motion.
What ought to GALA holders do?
The workforce has requested customers to make sure that no GALA tokens are saved in any liquidity swimming pools or good contracts previous to the snapshot on Could 15. If any GALA tokens are found in a liquidity pool following the snapshot, the pool will probably be airdropped, and the GALA tokens might not be recoverable.
Regardless of having contacted exchanges to make sure a seamless transition, the workforce “strongly recommends” storing tokens in a private pockets to make sure that the drop is delivered on to the holder.
The Ethereum good contract enhancement options enhanced burn mechanisms, enhanced safety, and the power to replace sooner or later.
What’s Gala?
Gala Games is a gigantic firm within the Web3 gaming trade, releasing titles resembling The Strolling Useless: Empires and Spider Tanks.
Gala Movie, a platform for Web3 leisure, is merely a part of its bigger ecosystem. Customers can make the most of the GALA token with a purpose to purchase digital belongings throughout the ecosystem.
The airdrop was provoked by the announcement that Danny Trejo, Mena Suvari, and Emilio Rivera will seem in an upcoming episode of “RZR,” a Web3 TV collection produced by Gala Movie.
In collaboration with the Huobi cryptocurrency change, Gala said that it’s going to help customers affected by a November 2022 incident wherein quite a few Huobi customers sustained important losses.
In keeping with Huobi, pNetwork created over a billion pGALA tokens “out of thin air” on the BNB chain and offered them on PancakeSwap, inflicting a 97% decline within the worth of GALA tokens on the BNB chain.
Consequently, Huobi and Gala have dedicated as much as $50 million to compensate GALA token holders who suffered monetary losses on account of the pGALA incident.
Huobi and Gala have since filed a lawsuit towards pNetwork in an try and recuperate the misplaced funds.
Content material Supply: decrypt.co
