Welcome to GalaSwap, your go-to platform for direct token swapping on GalaChain. With GalaSwap, you can seamlessly exchange $GALA and other network tokens such as $MTRM, as well as new community project tokens created through the GalaSwap Project Token Creation Tool.
Not only can you exchange tokens easily without leaving GalaChain, but you’ll also receive $GSWAP every time you create or accept a swap!
This guide will walk you through the steps to start swapping tokens, creating offers, and finding the best swaps available.Visit galaswap.gala.com to begin your journey.
Getting Started with GalaSwap
First, login at GalaSwap.gala.com with your Gala account credentials. Even if you’re logged in at one of the platform sites already, you’ll need to login to GalaSwap specifically because it is a separate platform.
Creating an Offer on GalaSwap
Navigate to the Create Offer Page
Go to the main swap page and click Create Offer, or click the Create Offer button under the account icon in the top right corner.
Fill in the Offer Details
Offering: Select the token type and amount you want to offer.
Wanted: Select the token type and amount you want in return.
Gas Fee: The amount of $GALA required to create the offer.
Switch Button: Swap the offering and wanted tokens if needed.
Finalize and Create the Offer
Once you’ve entered the necessary details, click Create.
Enter your GalaChain wallet’s Transfer Code.
Your offer is now created and can be viewed on the main swap site under Active Offers. You’ll be notified when your swap is accepted.
Searching for an Offer on GalaSwap
Log In and Search
On the main swap page, fill in the Offering and Wanted fields.
Click the Search button to find matching offers.
Review and Accept Offers
When you find an offer, you will see:
You Give: The total amount of the token you will give.
Exchange Rate: The rate of the swap.
You Receive: The total amount of the token you will receive.
Gas Fee: The $GALA required to accept the offer.
If the swap is acceptable, click Swap.
Enter your GalaChain Wallet’s Transfer Code.
The swap will be initiated, and you will see a Swap Succeeded prompt upon completion.
Welcome, Galaxians! 2024 has been a bustling year for the Gala ecosystem, with huge developments including GalaSwap, the GalaChain SDK and Creator Portal, our Santiago, Chile game development studio and countless others.
Today we want to call your attention once again to the Gala Ecosystem Blueprint. This quick guide breaks down the components that make up our vision and outlines our path forward.
Everything discussed in this blog you’ll find explored and explained in greater detail in the Gala Ecosystem Blueprint, so we encourage all of you to give it a read.
Let’s explore what makes the Gala Ecosystem a revolutionary force in the blockchain industry.
Introduction to the Gala Ecosystem
At the heart of our endeavor lies the Gala community, without whose constant involvement and support we could never thrive on this level. Concise and quick feedback from the community always ensures that every decision and innovation is both visionary and grounded in real-world applicability.
The Origins and Vision of Gala
While our journey began in the gaming industry, influenced by its unique demands on blockchain tech, our vision extends far beyond. Gala is not just about games, music or film; it’s about fundamentally reshaping and revolutionizing blockchain for a more empowering world. Our L1 blockchain, GalaChain, is a pivotal milestone that positions us at the forefront of blockchain evolution.
GalaChain: The Backbone of Our Ecosystem
GalaChain is designed to handle the high transaction volumes and complex interactions of modern online games, setting a benchmark for scalability and efficiency. By supporting the intensive requirements of web2 gaming, GalaChain can seamlessly handle virtually any other application or industry demand.
Key Features of GalaChain:
Efficiency: Near-real-time settlement with low gas fees and sub-second latency.
Security: Built on Hyperledger Fabric, offering a secure and scalable blockchain environment.
Developer-Centric: Contracts and tokens can be created using TypeScript, reducing onboarding friction for developers.
Environmentally Conscious: Designed to consume significantly less energy than other leading blockchains while offering superior computational capabilities.
The $GALA Token
The $GALA token serves as the foundational digital utility token within the Gala Ecosystem, facilitating seamless, secure payment settlements and incentivization among participants. It operates under the governance of a Gnosis multisig safe, ensuring collective oversight and enhanced operational security.
Founder’s Nodes: The Pillars of GalaChain
Founder’s Nodes are pivotal in supporting and facilitating a multitude of workloads within the Gala Ecosystem. These nodes provide storage solutions, contribute to the global IPFS Distributed Hash Table Routing, and are set to expand their responsibilities to bridge transactions and chain security, among other key functions.
Decentralization and Community Empowerment
Our ultimate goal is to fully decentralize the Gala ecosystem, transferring control to Founder’s Nodes and the broader community. This vision aligns with our core principle of decentralization, aiming to create an ecosystem that is driven and governed by its users.
Regulatory Compliance
Adherence to regulatory compliance is a cornerstone of our operations. Gala does not conduct token sales or ICOs, permit speculation or price chat, or offer a staking program for its tokens. Our approach is proactive and responsible, aligning with all applicable guidelines and directives.
The Roadmap Ahead
As we advance, our roadmap outlines our aspirations and goals, with transparency and clarity at the forefront. Key milestones include the release of SDKs, public analytics dashboards, node workload development, and the open sourcing of GalaChain.
Conclusion
The Gala Ecosystem Blueprint is not just a roadmap for our future but a testament to the potential of blockchain technology to revolutionize industries and redefine the digital landscape. As GalaChain continues to evolve and integrate into more platforms, and as the network of Founder’s Nodes expands, the Gala Ecosystem is poised to set new benchmarks in the blockchain world.
Join us on this transformative journey and be a part of the future of decentralized technology with Gala.
What if agreements could execute themselves automatically when certain conditions are met, without the need for intermediaries or manual processing?
It’s actually possible. This is the essence of smart contracts. A smart contract is a self-executing contract with the terms of the agreement directly written into code. These contracts run on blockchain networks, ensuring transparency, security and automation.
How Do Smart Contracts Work?
To understand smart contracts, let’s break down their functionality step-by-step. Then we’ll explore some different kinds of smart contract examples within the GalaChain ecosystem.
Code as Contract: The terms of a smart contract are written in code. This code defines the rules and penalties of the agreement, just like a traditional contract, but in a digital form that can be executed automatically.
Blockchain Execution: Smart contracts are deployed on a blockchain, a decentralized and immutable ledger. This ensures that once a smart contract is created, it cannot be altered.
Automatic Execution: When predefined conditions are met, the smart contract executes itself. For example, if a smart contract is set to release payment once a product is delivered, it will automatically transfer funds when delivery is confirmed.
Transparency and Trust: All transactions and contract terms are visible on the blockchain, providing transparency. Since the contract executes automatically, there’s no need for trust between parties; the code enforces the agreement.
Smart Contracts at Work within Gala
In the Gala Games ecosystem, smart contracts are at the heart of various gameplay mechanics and economic structures. Here are some examples:
Collect & Exchange NFTs: Smart contracts govern the ownership and trading of NFTs, ensuring that players can securely own, sell, and trade unique in-game assets. This includes items, characters and land within the game world. These contracts handle the transfer of ownership, enforce scarcity and ensure authenticity.
Rewards Mechanics: Gala Games use smart contracts to implement their unique reward economies, automating the distribution of rewards to players based on their in-game activities and achievements. Rewards can include $GALA and other tokens as specified in the game’s litepaper.
Node Governance: Gala Founder’s Nodes perfectly demonstrate one of the most important aspects of smart contracts: Community governance. Every Founder’s Node receives a single vote for its operator in every issue presented to the Founder’s Node ecosystem for governance.
The Gala Music platform leverages smart contracts to revolutionize the music industry, including examples like:
Reward Distribution: Smart contracts automate the daily distribution of $MUSIC to artists, producers, collectors and listeners based on the economic details outlined in the Gala Music Whitepaper.
NFT Music Ownership: Musicians can mint their tracks as NFTs, which are governed by smart contracts. These limited quantities and uniquely identified NFTs can be sold or traded, allowing artists to monetize their work directly and securely.
Fan Engagement: Smart contracts can be used to create exclusive content or experiences for fans. For example, fans who lock their $MUSIC to support an artist directly can unlock levels of benefits like early sale access and special discounts, all governed by smart contracts.
In the Gala Film ecosystem, smart contracts facilitate new ways of financing, distributing, and engaging with film content:
Decentralized Funding: The future of Gala Film will show filmmakers how through the use of smart contracts they can receive support for their film projects, such as funding and resources. We call this the “Pitches” program – It will be implemented following the $FILM token official launch.
Content Distribution: Smart contracts can manage the distribution of video content, ensuring that Gala Film content is served by a truly decentralized network powered by Theater Nodes and their operators.
Interactive Viewer Experience: Smart contracts make it possible to create interactive and immersive viewer experiences such as unlockable content. For example, viewers can collect shards from Mystery Boxes to complete Expansions, opening new exclusive content.
Why are Smart Contracts Important?
Smart contracts are a revolutionary innovation with several key benefits:
Automation
By automating the execution of contracts, smart contracts reduce the need for intermediaries, such as lawyers or brokers, speeding up processes and reducing costs.
Security
Smart contracts use blockchain technology, which is highly secure. The decentralized nature of blockchain makes it difficult for hackers to alter or tamper with the contract.
Transparency
All terms and transactions of a smart contract are recorded on the blockchain, providing complete transparency. This helps in building trust between parties.
Accuracy
Since smart contracts are written in code, they are executed with precision and accuracy, eliminating human errors that can occur in traditional contracts.
Efficiency
Smart contracts streamline processes by eliminating the need for manual intervention, reducing administrative overhead and speeding up transaction times.
Real-World Applications of Smart Contracts
Financial Services
Smart contracts are transforming the financial sector by enabling decentralized finance (DeFi) platforms. These platforms offer services like lending, borrowing, and trading without traditional intermediaries.
Supply Chain Management
In supply chain management, smart contracts can automate the tracking of goods, ensuring transparency and reducing fraud. For example, a smart contract can release payment once a shipment is verified and delivered.
Real Estate
Smart contracts can automate real estate transactions, from listing to final sale. This reduces paperwork and speeds up the process, ensuring that all terms are met before transferring ownership.
Insurance
Insurance companies can use smart contracts to automate claims processing. When a claim meets the predefined conditions, the smart contract can automatically release payment to the policyholder.
Gaming and Entertainment
Platforms like Gala Games use smart contracts to manage in-game assets and transactions. $GALA, the native token of the GalaChain ecosystem, facilitates these transactions, ensuring security and transparency in the gaming world.
The Future of Smart Contracts
As smart contract technology continues to evolve, we can expect to see even broader applications and advancements. Here are a few trends to watch:
Interoperability
Future developments will focus on enabling smart contracts to operate across different blockchain networks, enhancing their functionality and reach.
Legal Integration
Smart contracts could be integrated into traditional legal frameworks, providing a hybrid model that combines the benefits of automation with the assurance of legal oversight.
Scalability
Efforts are underway to improve the scalability of blockchain networks, allowing them to handle a larger volume of smart contracts without compromising speed or security.
AI and Smart Contracts
Integrating artificial intelligence with smart contracts could enhance their ability to manage complex agreements and adapt to changing conditions in real time.
Conclusion
Smart contracts are a groundbreaking innovation that is transforming the way we execute agreements. By leveraging blockchain technology, they offer a secure, transparent, and efficient method for automating transactions and enforcing agreements. As we move further into the era of Web3, smart contracts will play a crucial role in creating a more decentralized, transparent, and automated world.
Stay tuned for more blogs in our explainer series, where we’ll dive deeper into the fascinating world of Web3 and its key concepts!
Announcing the epic release of “Sit Next To Me” featuring Guapdad 4000, the latest track from hip hop legend Money B, now available as a limited edition Gala Music NFT track. This reward enabled release is limited to only 100 copies and is now live in the Gala Music store.
Known as Web3 Money B on social media, Money B is a founding member of the multi-platinum, Grammy-nominated hip hop group Digital Underground.
With iconic contributions to hip hop such as “The Humpty Dance,” “Kiss U Back,” and “Same Song,” and collaborations with Tupac Shakur on “I Get Around,” Money B has solidified his place in music history. His foray into the Web3 space is a natural evolution of his innovative and forward-thinking approach.
Money B’s partnership with Gala Music underscores his commitment to embracing new technologies and platforms.
“My decades-long relationship with Gala Music’s president, Leila Steinberg, reinforces my belief that this partnership is destined for greatness. Gala Music provides the perfect platform for me to interact directly with Digital Underground fans, gamers, and web3 users alike—communities to which I deeply belong. The platform allows me to reward my global supporters with exciting incentives like $MUSIC tokens, exclusive remixes, and other innovative collectibles. This aligns perfectly with my ethos as an early adopter of new technologies.”
About “Sit Next To Me”
“Sit Next To Me” is a vibrant collaboration featuring the dynamic Guapdad 4000. This track exemplifies Money B’s signature style and lyrical prowess for an unforgettable listening experience.
100 NFTs are available as of 1pm PT on June 25th, 2024. This is a rare opportunity for collectors and fans to own a piece of hip hop history, and one that we imagine will pass by quickly.
Unlock $MUSIC Rewards
Tracks on Gala Music paired with an active Jukebox Node are eligible for daily $MUSIC rewards based on platform popularity. By owning “Sit Next To Me,” NFT collectors get the unique ability to share in the track’s platform success, generating $MUSIC rewards on a daily basis!
Stay Tuned
This release marks the beginning of Money B’s partnership with Gala Music. Stay tuned for more upcoming Money B releases (including some Gala Music exclusives!) and secure your copy of “Sit Next To Me” today while you still can!
Listen to “Sit Next to Me” NowJoin us in celebrating a legendary artist in the web3 space as together we unlock the future of music, with more freedom and empowerment for listeners and artists alike! Follow Money B on Twitter and Instagram for more updates.
Our Hot Gala Summer has only just begun, with songs to tweak your seasonal playlist to perfection and much more.
Look out for new All Access Experiences from some of your favorite Gala Music artists, plus an onslaught of live shows from September Mourning, Jewel Chang, Laganja Estranja and more. It’s hot out there, but we’re ready to cool you off with these fresh tracks and opportunities.
Make Room for Money B
This week we’re welcoming iconic Hip Hop artist Money B, founding member of the multi-platinum Grammy nominees, Digital Underground. His first Gala Music banger is called “Sit Next to Me,” featuring Guapdad 4000 and dropping on Tuesday at 1pm PT.
It’s time to welcome our latest NextUp artist winner, voted in by the Gala Music community and ready to astound with captivating and romantic flair. Born in Romania and creating music since childhood, Airyen Vay beautifully blends upbeat tempos and lyrical, inspiring piano lines. “I’m the One” hits the store on Tuesday at 1pm PT.
With two different Mystery Boxes currently available while supplies last, Gala Music is offering some awesome chances to win.
NxWorries Mystery Boxes – Only $4.99 Each
NxWorries is made up of Grammy winner Adnerson .Paak and producer Knxwledge. In honor of the recent drop of their highly anticipated 2nd record, “Why Lawd?” we teamed up with the superduo to put together an incredible Mystery Box packed with chances to win. Learn more about what you might find inside in THIS BLOG.
Brought to you by interdimensional VOX superstars FutureBoy and Gala Girl, the FutureBox is a crossover hit, still available while supplies last. In it, you might find special Gala Music tracks that money can’t buy from both, like FutureBoy’s LoFi sensation “VINC Sync” or Gala Girl’s pop EDM masterpiece, “Moonbeams.”
