Gala Games, a gaming platform based on blockchain technology, has announced a significant enhancement to its native token. On May 15th, GALA v2 tokens will be airdropped to all current holders of v1 tokens, which marks the start of a new phase for the platform announced in a blog post.
All users will receive an automatic 1:1 conversion and support for the v1 token will be discontinued immediately. No action is required from users holding in their Ethereum wallet(s).
Gala Games Boosts Platform Safety With Upgraded Security Features
Current token owners can anticipate a smooth transition to the new v2 tokens. One v2 token will be given for each v1 token. The v1 tokens will become obsolete and useless as a result of this update. To improve the user experience and assure more security, Gala Games’ development team added better security features to the v2 tokens.
The v2 tokens also contain a token burn mechanism, which might be able to raise their price in the future. Gala Games is one of the leading crypto gaming projects, with a market valuation of $360 million. The gaming platform offers a wide selection of games that use native tokens as the main form of payment within the ecosystem.
The Gala Games ecosystem has been improved overall in terms of functionality and security with the introduction of the GALA v2 token. These improvements include:
Enhanced Burn Mechanisms: The ecosystem has been improved overall in terms of functionality and security with the introduction of the v2 token. These improvements include:
Security Enhancements: A better burn mechanism built into the new token enables a more dynamic and responsive token ecosystem. The token’s worth will be preserved by this feature, which will also foster a long-term environment for both gamers and developers.
Future Upgradeability: Games has upgraded to v2 and included several security features to protect the platform’s security and reliability. Users will feel more secure as a result of these improvements when they engage with the platform’s ecosystem and take part in the numerous games and activities it has to offer.
The v2 token’s inherent upgradeability is one of its most important features. As a result, Games will have the ability to continuously develop and adjust to the shifting demands of the blockchain gaming sector, ensuring that the platform stays at the cutting edge of innovation and provides the greatest experience for its customers.
GALA, What Exactly Is It?
Gala Games is one of the most significant Web3 gaming initiatives, having released titles such as The Walking Dead: Empires and Spider Tanks.
It also has a larger ecosystem, which includes the Web3 entertainment platform Gala Film. The token is used by users to purchase digital assets within the ecosystem.
The airdrop follows the announcement of Hollywood talents Danny Trejo, Mena Suvari, and Emilio Rivera as guest stars in “RZR,” a Web3 TV series produced by Gala Film.
Gala also announced, in collaboration with cryptocurrency exchange Huobi, that it will assist users affected by an event that resulted in significant losses for users in November 2022.
According to Huobi, pNetwork created over $1 billion in tokens “out of thin air” on the BNB chain and sold them on PancakeSwap, causing tokens on the BNB chain to drop 97%.
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