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Web3 gaming challenge Gala Video games will airdrop GALA v2 tokens to all GALA holders on Might 15, the group introduced in a weblog submit.
An automated 1:1 conversion for all customers has been organized, with assist for the GALA v1 token being instantly dropped. No motion is required from customers holding GALA of their Ethereum pockets(s).
The group has suggested customers to take away their GALA tokens from any liquidity swimming pools or sensible contracts earlier than the snapshot on Might 15; if tokens are left in a liquidity pool, the liquidity pool shall be airdropped and the GALA will not be recoverable.
Exchanges have been contacted to facilitate a easy transition however the group “strongly recommends” storing tokens in a private pockets with a purpose to make sure that the drop is delivered on to the holder.
The improve to the Ethereum sensible contract brings enhancements together with enhanced burn mechanisms, safety enhancements, and future upgradeability.
What’s Gala?
Gala Video games is without doubt one of the largest Web3 gaming tasks, launching titles together with The Strolling Lifeless: Empires and Spider Tanks.
It additionally has a wider ecosystem which incorporates Web3 leisure platform Gala Movie. The GALA token is used as a approach for customers to buy digital belongings inside the ecosystem.
The airdrop comes on the heels of stories that Hollywood stars Danny Trejo, Mena Suvari, and Emilio Rivera have been introduced as visitor stars in “RZR”, a Web3 TV collection by Gala Movie.
The eight-episode present is ready in a dystopian Los Angeles the place cryptocurrency and synthetic intelligence are deeply intertwined with the prison underworld.
Gala additionally introduced, in partnership with crypto change Huobi, that it is going to be supporting customers impacted by an incident that noticed important losses for customers again in November 2022.
In accordance with Huobi, pNetwork minted over $1 billion pGALA tokens “out of skinny air” on the BNB chain and offered them on PancakeSwap, inflicting GALA tokens on the BNB chain to plummet by 97%.
Because of this, Huobi and Gala pledged that they might distribute as much as $50 million to GALA token holders who misplaced cash because of the pGALA incident.
Huobi and Gala have since initiated a lawsuit towards pNetwork to get better these funds.
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