In the spirit of fostering innovation and collaboration within the Gala Founders Node Ecosystem, a new proposal is presented for consideration. This proposal is a direct response to the community feedback, emphasizing our collective journey towards enhancing network growth and engagement.
Proposal Overview:
A view of the topic to be discussed below.
The core of this proposal introduces a referral system designed to incentivize ecosystem supporting actions. By engaging in token burn activities, users contribute to the ecosystem’s sustainability and incentivize the long-term Founder’s Node support of the ecosystem. In recognition of the importance of community-driven growth, the proposal outlines a mechanism by which the actions taken by a user can potentially benefit those who brought them into the ecosystem.
Using the flow chart above, USER A refers USER B to the ecosystem, at which point USER B refers USER C.
If the proposal is confirmed by the Founder’s Nodes, when USER C initiates a burn, the account that referred them (USER B) will receive a mint allowance equivalent to 8% of the burned amount. The account that referred USER A will receive the equivalent of 2% of the burned amount. This initiative aims to foster a more engaged and collaborative community, encouraging wider participation in the ecosystem’s development.
This will not impact the Founder’s Node emission rate, but can be looked at as a referral burn rebate for ecosystem supporting actions.
In the event that there is no referring party, then there would be no referral burn rebate.
Example:
User A refers User B. User B refers User C.
User C performs an action which initiates a burn of 1000 $GALA User B receives a mint allowance for 80 $GALA User A receives a mint allowance for 20 $GALA
Actions which would qualify:
Purchase by burn
Gas fees
Channel establishment fees
Note: All previous referrals would still remain part of this system. If you have referred a user previously and they are a part of your account, then you would still receive the referral bonus based on their $GALA burning actions.
Key Highlights:
Referral Rewards: The introduction of a referral reward mechanism encourages existing ecosystem participants to bring new users onboard, enhancing the network’s robustness and activity level.
Incentive Structure: Focusing on on-chain actions, excluding bridging activities, ensures the incentive mechanism is transparent and straightforward. This clarity is crucial in maintaining the integrity and purpose of the incentive system.
Implementation Timeline: With a commitment to agility and responsiveness, the proposed system is slated for implementation within 7 days following approval. This rapid deployment timeline underscores the ecosystem’s dedication to innovation and timely enhancement.
Community and Governance Engagement:
Consistent with the ethos of transparency and collective decision-making, this proposal will undergo thorough discussion within the Founder’s Node Operator. There will be at least one AMA on this topic, with extended engagement, to gather feedback ensuring that the proposal is refined and aligned with the community’s vision and needs.
Voting Options:
The voting options are currently as follows, though they may be modified by discussions prior to a governance vote:
Yes: I support the implementation of the Referral Incentive System as proposed, recognizing its potential to enhance ecosystem sustainability and community engagement through incentivized token burns.
No: I do not support the proposal as it stands. I believe that the proposed referral system and token burn incentives may not align with the ecosystem’s long-term growth and engagement goals.
Abstain: I choose to abstain from voting on this proposal. While I acknowledge the importance of community-driven initiatives and ecosystem sustainability, I require more information or am neutral on the impact of the proposed referral incentive system.
Conclusion:
This proposal represents a strategic step towards leveraging the Gala Founders Node Ecosystem’s full potential, encouraging active participation, and rewarding contributions that drive the ecosystem forward. Through collaborative efforts and a shared commitment to innovation, the ecosystem can continue to evolve, offering increased value and opportunities for all participants.
You’ve seen Mystery Boxes flying off the shelves on Gala Games and Gala Film, and in the right places at the right times, you may have picked up a Box or two for free!
The community hit Mystery Boxes are about to land on Gala Music, just in time for the Big Game and “Famous in the Metaverse” by Louis King.
Louis King Mystery Box
Dropping at 1pm PT on Sunday, February 11th, Mystery Boxes are packed with goodies–The more Boxes you cop, the more you can get from this list:
Chance to win 1M $GALA (grand prize)
Chance to win 100,000 $MUSIC
Gala Music Badges
Louis King track feat. Snoop Dogg
Exclusive Louis King merch
Rare “Famous in the Metaverse” framed poster
Unlockable Louis King content
Bonus exclusive Louis King track: “The Hunni Pot”
Louis King Mystery Boxes are $5 each, sold exclusively in the Gala Music All Access store.
Famous in the Metaverse
Louis King’s new album is the most power-packed hip hop collection to land in the web3 world, featuring some of the most famous rappers in the world, including Snoop Dogg and many more.
Don’t forget–These Gala Music tracks are earning-enabled. That means when you pair an owned track with an active Gala Music Jukebox Node, you’ll earn daily $MUSIC rewards based on the popularity of your track. To enhance the rewards even more, pick up a Jukebox Node of your own and pair with yourself.
Signature Editions of two new NFT tracks (limited to only 100 each) are dropping each Tuesday morning on Gala Music until the whole album is released. Last week’s drops are sold out–but you can check Gala Music now to listen to a new pre-dropped tracks featuring Snoop Dogg.
Hold onto your avatars, Gala Games fam, and get ready to unleash your inner social butterfly with Rep, the web3 social media platform built on our L1 blockchain. Rep is a great example of what external development teams can do with GalaChain, especially now that our SDK is in their hands, not to mention the Gala Creator Portal that makes everything even simpler. With the power of GalaChain behind it, Rep will shatter the limitations and annoyances of traditional social media, offering a decentralized space where you truly own your data and experiences.
Rep your unique personality across diverse communities while enjoying low censorship and transparent posting. Share your thoughts, connect with friends, and even earn rewards for various activities within the network. Rep isn’t just about connecting; it’s about unlocking opportunities.
What Makes Rep Unique
Rep introduces a unique approach to community engagement with its subreddit style communities, enhancing the user experience by tailoring content visibility to specific contexts. Unlike other platforms where a user’s contributions are aggregated across various contexts, on Rep, when you visit a user’s profile within a specific community, such as “Gala Friends,” you’ll only see the content they’ve created relevant to that community. This focused approach ensures that the content you encounter is contextually appropriate, making it easier to sift through and engage with material that aligns with your interests and the community’s theme. This design choice fosters more meaningful interactions and keeps discussions relevant and organized.
New Depth to the Social Experience
Embark on exciting scavenger hunts and quests within the platform, fueled by your social engagement. Treasure hunts are one of the most exciting integrated features of Rep, made possible by highly advanced web3 tech and simplified into a user-friendly interface.
Strengthen your gaming connections with fellow Gala players using Rep’s innovative social features. Eventually, the Rep platform will host “Gala Friends,” a blockchain-integrated private labeled community to connect users throughout the entire Gala universe.
Rep Rewards
Ultimately, Rep will be joined by all sorts of reward opportunities. For running Rep Nodes and powering the network, operators will not only host their own content, but earn rewards for their ongoing support of the decentralized ecosystem. Users will also have access to exclusive referral bonuses for onboarding newcomers to the platform, participating in treasure hunts and much more.
New Features in 2024
Already in 2024, the Rep team has added some sweet new features that any Rep user can now test and enjoy:
Personal Pages – Each user can generate a personal on-chain bio page – For an example, check out Rep founder Neil Haran’s page: https://neilharan.rep.run/
Articles – Long form content is now an option, such as blog articles, reviews, research papers and deep dives.
Polls – Users can present multiple choice polls to engage with the community and gauge response.
Questions & Answers – Ask a question and collect responses from real people using this handy feature.
Treasure Hunts – This feature is one of the most fun and unique aspects of Rep, allowing all users to create and participate in geolocation based treasure hunts with simplicity.
All of the above new features can now be accessed by all Rep users through the “What’s on Your Mind?” box
Stay tuned for updates and keep an eye on News.Gala.com, Ahead of the Game episodes, and our official website for in-depth information about Rep’s development journey as it unfolds. We’re especially interested in this innovative project, and we cannot wait to see it blossom into the robust social media ecosystem that GalaChain deserves.
This is more than just a platform; it’s a paradigm shift. It’s Rep-resenting your true self, earning rewards, and experiencing the full potential of web3 social interactions. Are you ready to Rep your voice? We’ll see you there!
