$GALA is the official token of the Gala web3 ecosystem. Consistently placed in the top 100 crypto tokens (by volume) on CoinMarketCap, this token acts as the fuel for a thriving and always growing web3 world, powered by GalaChain.
$GALA on Ethereum
When the development of our layer 1 blockchain had just begun, $GALA was first created as an Ethereum-based token. Even today, as GalaChain is fully operational and rapidly expanding, we strive for interoperability with the Ethereum Virtual Machine, recognizing it as the most widely used blockchain system today.
Bridging $GALA to and from Ethereum is easy, although it is no longer originally minted there. By bridging $GALA to Ethereum, users can take advantage of numerous dApps and exchanges, both centralized and decentralized.
On Ethereum’s massively popular secondary marketplace, OpenSea, you’ll find all the official Gala collections, making it easy to trade Gala ecosystem NFTs.
When your $GALA is on Ethereum, you can:
Create or fill buy and sell orders on dozens of Ethereum-based exchanges
Use it to make GalaChain purchases via your connected web3 wallet
When new $GALA enters into circulation, it is created on GalaChain as a mint allowance, letting the owner decide when the official minting event should take place. Once it is minted from allowance to its tokenized form, it can be:
Spent in the GalaChain ecosystem
Used in Gala Games
Swapped on GalaSwap
Transferred to other accounts
Bridged to Ethereum
Getting $GALA
There are many ways to get $GALA beyond simply purchasing it from a crypto exchange where it is listed.
Rewards for Founder’s Node Operation
The main way that new $GALA enters the ecosystem is as a reward for the operation of Founder’s Nodes, which power the main Gala ecosystem DePIN (Decentralized Physical Infrastructure Network).
Based on the current total supply of $GALA in circulation, a set amount is allocated for distribution each day to all active Founder’s Node operators. This total distribution amount is distributed to active operators based on a daily point system that rewards each node based on the total amount of time they were active for the previous day. The greatest number of distribution points that can be attained by an operator in a day is 4– 1 for each 6 hour period in which their node was active.
Gala Founder’s Node licenses can be acquired here. They are easy to set up and run in the background of a user’s home computer through the Gala Node software, and they will generate $GALA rewards for every active day.
Rewards for Gameplay
Many of our games offer ways to receive $GALA for gameplay. Here’s a quick rundown of your options:
Champions Arena
When you compete in the PvP Arena against other players and play with NFT Champions, you are eligible for Victory Points, which convert once daily into $GALA rewards that are delivered directly to your account. Even players who do not own NFT Champions can take advantage of the Nexus feature to borrow and play with NFTs owned by others for a share of the rewards!
By participating in Legacy’s Design competition events of various leagues, players can win Legacy Tickets, which are converted daily to $GALA prizes based on a reward allocation determined by the amount spent in the game.
In the 4X space adventure game Echoes of Empire, players build and defend their home bases while scouring celestial bodies in search of Stardust, an extremely rare and rewarding resource. Every day, 50% of the Stardust held by each player is systematically burned and $GALA is given as a prize from a reward allocation.
Gala’s strategic sim game of town and city builders is centered around a meta-shifting weekly competition in which players from all over the world try to make the most Stars, crafting and selling the flavor of the week! Don’t let the relaxing and adorable feel of the game fool you. It’s an intensely strategic battle for the leaderboards, but winners are well rewarded with $GALA prizes.
Our casual browser-based poker game hosts tables of Texas and Omaha Hold’em. Every day, players win as many chips as they can in the free-to-play game, collecting Sweepstakes entry tickets as they go. Each week hosts a handsome $GALA prize pool in which multiple winners are drawn and each Entry Ticket is a new chance to win!
Every token available on GalaSwap may be swapped for $GALA. This includes project tokens that have been created by community members via the Project Token Creation Tool, as well as in-game currencies from games (like $TOLK, $MTRM and $ETIME) and wrapped versions of cryptos from other blockchains and GalaChain-based stablecoins (GUSDC and GUSDT). It only costs 1 $GALA to create or accept a swap. To start using GalaSwap, just log in with your Gala account credentials.
Trading on External Exchanges
Ethereum-based $GALA is available on dozens of exchanges in lots of different exchange pairs, making it accessible in almost every locality of the world. For a list of $GALA exchange pairings on both centralized (privately owned) and decentralized (open source, anonymous) exchanges, visit the Markets page of CoinMarketCap.
Sending or receiving $GALA is very simple, whether on Ethereum or GalaChain.
On GalaChain
To send $GALA to another GalaChain account, follow these steps:
Acquire the recipient’s GalaChain address – It will look like this:
client|5f64659d468267207aaf7982
In you account’s Balances area, select $GALA (GalaChain) and choose Send $GALA (GalaChain).
Enter the amount you’d like to send, along with the recipient’s address.
Finalize the transaction with your Transfer Code and you’re all set. They should see their $GALA within a couple minutes.
To receive $GALA from another GalaChain account, follow these steps:
Select Get GALA (GalaChain) in your account’s Balances page.
Share either the provided QR code or your GalaChain address with the sender.
On Ethereum
Sending and receiving $GALA on Ethereum works the same way as any other token on that blockchain. This should be self-explanatory within your preferred Ethereum wallet, such as Metamask. For added convenience, you can also conduct Ethereum transfers within your Gala account when your Metamask wallet is connected to your account.
Bridging $GALA
Moving $GALA from Ethereum to GalaChain (or vice versa) is easy through your Gala account with a connected Ethereum wallet such as Metamask. If your Ethereum wallet is not connected, you can connect it easily through your account’s Settings under Linked Accounts.
Bridging Fees:
Keep in mind that when bridging from one network to another, you are required to pay transactional fees for the network from which your tokens are departing.
Bridging from GalaChain to Ethereum costs a variable fee in $GALA.
Bridging from Ethereum to GalaChain costs a variable fee in $ETH.
Cryptocurrencies and blockchain tech aren’t going anywhere soon, and people who take the time to learn the basics now will be glad they did when the rest of the world catches on.
With all the excitement surrounding the Telegram blockchain-based app (tApp) craze, mass adoption is closer than ever. Speaking of rewarding and exciting Telegram tokenization, have you played our awesome new tap-for-rewards game, Treasure Tapper? You can play absolutely free through your Telegram account, and the rewards you win will soon be minted as real crypto on both TON and GalaChain, onboarding a million (or many more) users to the empowerment of blockchain tech!
Start tapping for treasure today if you haven’t yet!
Gala Games and Animoca Brands collaborate to enhance the $GALA token experience for users
Animoca Brands will receive $GALA tokens from Gala’s Treasury in order to provide liquidity provisioning services to Gala Games, with the goal of facilitating orderly trading of the $GALA token. Animoca Brands is already an operator of 9 of Gala Founder’s Nodes and plans to serve as a GalaChain Validator in the future.
Gala Games and @animocabrands collaborate to enhance the $GALA token experience for users 🤝
Animoca Brands will receive $GALA tokens from Gala’s Treasury in order to provide liquidity provisioning services to Gala Games, with the goal of facilitating orderly trading of the…
Gala Games and @animocabrands collaborate to enhance the $GALA token experience for users 🤝
Animoca Brands will receive $GALA tokens from Gala’s Treasury in order to provide liquidity provisioning services to @GoGalaGames, with the goal of facilitating orderly trading of the…
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.
Gala Music is powered by a network of GalaChain nodes known as Jukebox Nodes. These nodes have a critical role in hosting music content on the platform, allowing all users to listen to their favorite tracks seamlessly.
Think of these nodes as individual radio stations broadcasting songs over the internet, but operated by users like you. Unlike traditional radio stations however, there’s no need to “tune in.” Instead, the audio content you want is automatically delivered through web3 magic, straight to your ears via the next available Jukebox Node.
Pairing Your Track with a Jukebox Node
When you ‘pair’ a track with an active Jukebox Node, you are essentially uploading your track to the blockchain. This means your track is hosted on the network and available for others to listen to. There’s no additional cost to do this, and you don’t need to own a Jukebox Node yourself. If you do own one, however, you can choose to pair your track with your node to optimize your rewards.
Unlocking Rewards Through Music
Once your track is paired and receives listens on the platform, it starts generating rewards in the form of $MUSIC. These rewards are distributed among three parties: The Jukebox Node operator (the host), the track owner and the musician who produced the track. This incentivizes not just the hosting of tracks, but also active participation and promotion within the Gala Music ecosystem.
Rewards generated in each 24 hour period are divided among all instances of the track that are successfully paired with an active Jukebox Node.
Learn more about all the details of $MUSIC rewards and the Gala Music economy in the Gala Music Whitepaper.
The Simplicity of Track Pairing
Pairing a track to an active Jukebox Node is straightforward and can be done easily through your Collection page. By making it easy and free to pair tracks, Gala Music encourages widespread participation and decentralization. Anyone with a track can contribute to and potentially benefit from the ecosystem, fostering a community-driven environment where anyone’s success is everyone’s success.
The Bigger Picture
The Jukebox Node network is a form of DePIN (Decentralized Physical Infrastructure), just like GalaChain’s many other node networks with their specialized workloads. Unlike traditional music streaming services that rely on centralized servers (like those from AWS), Gala Music leverages its community to power the network. This not only reduces reliance on major corporations but also puts the control and rewards back into the hands of the community members — the music lovers and creators themselves.
Why This Matters
This method of hosting NFT tracks through Jukebox Nodes underlines Gala Music’s commitment to a decentralized music system. By empowering its community to host and share music, Gala Music disrupts the traditional music industry, shifting power from centralized bodies to individual artists and fans. This new model not only enhances engagement and interaction within the music community but also aligns with broader trends towards decentralization in digital content distribution.
By joining the Gala Music ecosystem, you’re part of a revolutionary approach that reshapes how music is enjoyed and valued across the globe.
Following extensive conversation with the community and having hosted an AMA in the Founders Node Owner channel, the originally posted proposal has been modified in several ways.
Currently, this will apply to all existing referrals, but eventually there will be a point at which they must be “written to chain” via a burn. This will ensure that in the long-term, only those who are active in the ecosystem continue to benefit from the referral system
In the end state, referrals will be temporary unless written to chain by a burn. This means that a web2 user can refer a friend and benefit from that referral, but that it will expire unless they “claim” it via a burn in the social dashboard.
The time to implement the full version of this is 90 days, rather than the initial 7, due to the added lift on engineering and design for the ability to write all referrals to chain.
Rollout will be phased:
Two Weeks: Burn rebates for referrers based on burns on ETH.
One Month: Burn rebates for referrers based on GalaChain.
Two Months: Referral Dashboard v1
Three Months: Referral Dashboard v2 + Write Referrals to Chain
After this phased rollout, non-chain referrals will begin to count-down towards expiration.
The remainder of the proposal remains the same.
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 that when a user (USER C) initiates a burn, the account that referred USER C (USER B) will receive a reward equivalent to 8% of the burned amount. The account that referred USER B (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 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 gas 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 90 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:
Vote Question:
Should the Referral Incentive System be implemented to enhance ecosystem sustainability and community engagement?
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.
This vote will end next Monday, March 18th, 2024 at noon PT.
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.
