GalaSwap is now GalaConnect and blockchain just got easier.
The GalaChain team finally unveiled the new streamlined GalaConnect interface today, the culmination of several months of updates and enhancements that have made GalaChain more accessible than ever before.
Built for entertainment and prepped to meet the demands of numerous world industries, GalaChain is a layer-1 blockchain made for developers.
Previously, only account holders on Gala Games, Gala Music and Gala Film could access the features of this platform, but with the new update, anyone with a web3 wallet can connect. No Gala ecosystem account is required.
Swap Tokens – Using the peer-to-peer exchange interface, users can swap GalaChain tokens like $GALA, $MUSIC and GalaChain-wrapped versions of stablecoins like G-USDC and G-USDT. When you create and accept swaps, collect $GSWAP as a reward.
Create Tokens – Using the state-of-the-art Project Token Creation tool, users can set up their own project tokens in just minutes to be initiated into the GalaChain ecosystem. Once approved by the core community of Gala Founder’s Node operators, your token is created and yours to distribute as you please.
API – Integrate GalaChain functions into your own platform with the GalaConnect API, available to all developers for quick and streamlined building.
Bridging – Move any token to and from the Ethereum network using the GalaConnect bridge.
This is only the beginning. Join in as we make GalaConnect the ultimate gateway to everything in the expanding GalaChain universe.
GalaSwap is leveling up, undergoing a transformative upgrade and evolving into a comprehensive bridging and account management platform within the GalaChain ecosystem.
As part of the ongoing “GalaConnect” upgrade, we’re now thrilled to unveil new features that expand the capabilities of GalaSwap far beyond simple GalaChain token swaps. This update introduces direct bridging functionality between GalaChain and Ethereum, with an emphasis on user experience and flexibility. With the new GalaSwap, users can now move assets seamlessly across networks, interact with both their GalaChain and Ethereum wallets, and enjoy enhanced bridging status tracking—all from a single platform.
New Features in the Latest GalaSwap Update
1. Cross-Chain Bridging with Dynamic Fees
GalaChain to Ethereum Bridging: Users can now bridge their assets from GalaChain to Ethereum, enjoying dynamic bridge fees that adjust based on network conditions.
Ethereum to GalaChain Bridging: Bringing assets back from Ethereum to GalaChain is straightforward and transparent, ensuring users can manage their portfolios with ease.
2. Status Monitoring and Block Explorer Integration
Once a bridging transaction is initiated, users can track the status of their transactions through a dedicated status page. This page offers direct links to both Ethereum and GalaChain block explorers, enabling users to verify their transactions independently.
3. Accountless and Account-Based Bridging Support
Accountless Bridging: Users without a Gala ecosystem account can use their existing Ethereum wallet to bridge assets. The system will intelligently default the recipient address to the corresponding wallet on the other blockchain, simplifying the process.
Account-Based Bridging: For those with a Gala account, additional options become available. When bridging from Ethereum to GalaChain, users can connect their Ethereum wallet to access the GalaConnect suite, making the process even more streamlined.
4. Enhanced Bridging Costs and Dynamic Pricing
As part of this upgrade, the bridging fee structure will be revised, and users can expect a temporary surge to 3.5x the existing rate (of which ~70% is burned from supply). This adjustment reflects the dynamic nature of cross-chain transactions and supports the growing infrastructure of GalaSwap as it scales to meet increased demand.
A Unified Platform for All Your GalaChain Interactions
This major update marks a pivotal step in our journey to enhance GalaChain’s functionality. With the introduction of direct bridging capabilities, GalaSwap is being reimagined as GalaConnect—a robust platform for managing and transacting GalaChain assets without the need for a centralized Gala account.
Users will benefit from the flexibility of using both traditional account-based interactions and new accountless connections through Ethereum wallets, broadening the possibilities for web3 developers and casual users alike. Whether you’re looking to bridge, manage or simply view your assets, GalaSwap will offer the tools to do so efficiently.
Why This Matters for the Gala Ecosystem
The latest update to GalaSwap is a significant leap toward decentralization of the Gala ecosystem. By providing seamless bridging and accountless wallet integration, we are removing barriers for both existing and new users, making it easier than ever to engage with GalaChain.
As we continue to evolve, the GalaSwap platform will serve as the central hub for all interactions within the Gala ecosystem, laying the foundation for future growth and innovation. In the near future, GalaSwap will also be renamed GalaConnect in one of the key moves of this multi-phase upgrade.
This change also aligns with our broader strategy of leveraging GalaChain’s capabilities to support industries beyond entertainment and gaming, making it a powerful tool for developers across sectors.
Get Ready to Experience GalaSwap’s Transformation
As we prepare to roll out these new features, we invite all users to explore the enhanced GalaSwap platform and take advantage of its new capabilities. This upgrade is a testament to our commitment to building a decentralized, user-friendly ecosystem where everyone can thrive.
Join the Discord community and follow us on social media and stay tuned for more updates as we continue to build the future of decentralized technology together.
Today we’re announcing a huge milestone in the evolution of GalaSwap, designed to revolutionize the way users and developers interact with GalaChain.
GalaSwap now empowers users to easily swap, create and manage GalaChain tokens through on-chain dApps without the need for a Gala account.
New Ways to Connect
GalaSwap is growing, and the broader Gala ecosystem is evolving toward greater decentralization than ever. This latest update has the potential to massively boost the GalaChain user base, opening access to the wallet features of GalaChain without requiring the creation of a Gala account.
Users can now create a GalaChain wallet and interact with GalaChain tokens using an existing Ethereum wallet, enabling a smoother experience that is more intuitive and less centralized.
For some time Gala has offered users the ability to connect an Ethereum wallet to their account, simplifying processes like bridging and interaction with Ethereum-based secondary markets like OpenSea.
Users can now establish an initial connection using their Ethereum wallets alone. By signing a transaction in Metamask, you can create a brand new accountless GalaChain wallet.
This new system will be especially beneficial for third party GalaChain creators building dApps from a variety of industries, giving them the freedom to customize their user experience more deeply and interact with their audiences without Gala (the company) acting as an intermediary. They will enjoy the power and function of GalaChain, wrapped in a user interface that they are free to customize as they see fit.
New Features
Features included in the recent update will enhance any web3 user’s experience and access to GalaChain tokens, whether or not they have a Gala account.
Existing Gala accounts can create a new web3 wallet via Metamask.
Existing Metamask users can generate a GalaChain wallet address with no Gala account.
GalaChain tokens can be viewed and managed within GalaSwap.
Evolution of GalaSwap
As part of this exciting development, GalaSwap will soon rebrand to GalaConnect, further emphasizing our commitment to connectivity and ease of use. As it continues to evolve with more streamlined features, this platform will serve as the new hub for all your GalaChain interactions.
Empowering Users and Developers
GalaSwap is more than just a platform for swapping tokens; it’s a gateway to freedom for our users and developers. By allowing third parties to develop their own GalaChain dApps with easy onboarding, we are fostering a more inclusive and expansive ecosystem.
For Users
No GalaChain Account Needed: Start interacting with GalaChain tokens immediately with your existing Ethereum wallet.
Complete Web3 Portfolio Management: Easily manage your digital assets with a comprehensive portfolio interface for GalaChain tokens.
For Developers
Easy Onboarding: Develop and deploy dApps on GalaChain with simplified processes.
Robust Tools: Utilize our powerful features to create innovative solutions on GalaChain.
FAQ
Is a new GalaChain wallet created when I login to GalaSwap with my Ethereum wallet for the first time?
Yes, GalaChain wallet creation is required when using the web3 wallet login option.
Can I log into Gala Games, Gala Music and Gala Film with the GalaChain wallet created via web wallet login?
No – The GalaChain wallet created in this way is only for GalaSwap. To use the core Gala platforms you will need to create an account.
If I log into GalaSwap using the same web3 wallet that is already linked to my Gala account, will it still create a new GalaChain wallet?
Yes. Even if you log into GalaSwap with a web3 wallet that is currently linked to your Gala account, a new GalaChain account will be created for use on GalaSwap.
Join the Revolution
The vision of GalaConnect is a leap forward in our mission to empower users and developers and expand the GalaChain ecosystem. By simplifying interactions and enhancing possibilities, we are paving the way for a more connected and decentralized future.
Join us as we embark on this exciting new journey as GalaSwap evolves into the new-and-improved GalaConnect. Together, we are creating a new paradigm of freedom and innovation in the blockchain world.
Today we’re announcing a significant update to our ecosystem— the rollout of a new gas fee system on GalaChain. As part of our ongoing commitment to enhance the efficiency, security and sustainability of our network, we are implementing gas fees for various transactions and actions across our platforms, including Gala Games, Gala Music, Gala Film and GalaSwap.
What’s Changing?
As the result of approval of this recent Founder’s Node governance vote, fees will now be applied to the following actions on GalaChain:
GalaChainToken Transactions:
BatchFillTokenSwap
BatchMintToken
BurnTokens
FulfillMint
FulfillMintAllowance
MintToken
MintTokenWithAllowance
RequestTokenBridgeOut
RequestTokenSwap
TerminateTokenSwap
TransferToken
User Actions (1 $GALA fee per action):
Minting currency from mint allowance
Minting NFTs from mint allowance
Bridging out currency (note: existing fees apply, future dynamic fees are in development)
Sending currency
Sending NFTs
Paying for orders by transferring funds
Paying for orders by burning funds
Why Introduce Fees?
The implementation of transaction fees serves multiple objectives:
Ecosystem Health: By increasing the amount of burnt $GALA, we aim to ensure the long-term health and sustainability of our ecosystem.
Resource Allocation: Efficient allocation of network resources encourages optimal and responsible usage, crucial as we expand the ecosystem to include greater numbers of third party developers.
Spam Prevention: Deterring spam and other undesired behaviors helps maintain the integrity of individual channels and the GalaChain network as a whole.
Channel Founder Incentives: Founders of new GalaChain channels will receive a portion of fees collected within their channels.
Node Operator Incentives: Providing ongoing benefits for node operators supports the decentralization and robustness of GalaChain.
Referral Incentive
As approved by the Gala Founder’s Node ecosystem in THIS VOTE, all $GALA burned as gas fees qualifies for a direct referral incentive reward. The direct referrer receives 8-10% of the burnt $GALA as a mint allowance, and the 2nd degree referrer (referrer of referrer) receives 2%.
Initial Launch and Future Rollout
The initial launch of the new system will apply only to transactions on the asset channel. This means many game NFTs and $MUSIC, which are not currently on the asset channel, will not have fees at first. However, it is essential to mention that fees for these channels are coming soon, ensuring a comprehensive rollout across the entire Gala ecosystem.
Aligning with Traditional Practices
While GalaChain is a permissioned blockchain and does not use miners like Ethereum, our fee structure borrows from traditional practices to streamline operations and provide ongoing opportunities for node operators. This hybrid approach allows us to maintain the benefits of decentralization while we continue to grow, ensuring the efficiency and reliability of our network.
Looking Ahead
Our commitment to innovation and community engagement remains steadfast as we continue to develop and refine our platform.
We appreciate your support and understanding as we implement these changes to enhance the Gala ecosystem. Together, we are building a more sustainable, efficient and secure future for all GalaChain users.
Stay tuned for more updates, and thank you for being a part of our journey!
If you haven’t started swapping tokens on GalaSwap yet, we’ve got the perfect incentive to get you into the action.
A recent GalaSwap update brought in a new Starter Pack item called the Trader Profile Badge.
After purchasing this NFT Badge for $1 using a credit card, users will instantly receive 95% of the purchase price back as $GALA, giving them a tidy little pile of tokens they can use to create or accept swaps.
While the NFT Badge has no utility or intrinsic value, we think you’ll get a lot of use out of the $GALA awarded as a rebate for the purchase.
Create and Accept $GALA swaps – Every token in the GalaChain ecosystem can be swapped to and from $GALA. Create offers or fill offers swapping either to or from $GALA for any other ecosystem token, including the numerous project tokens that have been created by the community.
Create Project Tokens – In just a few minutes, you can burn $GALA to create a brand new project token of your own on GalaChain. Once the Gala Founder’s Node operators (who get a portion of the token as an operator reward) approve your project token via governance vote, your token will be available on GalaSwap and it will be yours to distribute as you please.
Collect $GSWAP – $GSWAP is the built-in reward token of GalaSwap, distributed daily to users who create and accept swaps.
Transfer tokens – Using the Transfer interface, users can easily send or receive GalaChain tokens, including $GALA, $MUSIC or any other token held in a GalaChain wallet.
Start Swapping
Everyone is eligible to buy the Trader Profile Badge and receive the $GALA rebate. You’ll find a purchase option at the top of the GalaSwap page.
Watch the project token markets and get swapping on GalaSwap, where each swap only costs 1 $GALA to create or accept. This is the power of DeFi on GalaChain, delivering endless possibilities and rewards.
