TOKEN2049 Singapore, one of the most anticipated crypto events of the year, is taking place on September 18th and 19th, 2024. This prestigious gathering brings together the leading minds and companies in Web3 to discuss the future of the blockchain industry, and we’re thrilled to announce that key Gala team members will be there to represent our growing ecosystem!
What is TOKEN2049?
TOKEN2049 has earned its place as a premier event in the crypto calendar, held annually in Singapore and Dubai. This event serves as a global hub for blockchain enthusiasts, developers, investors, market makers and key industry leaders. TOKEN2049 shines a spotlight on the latest trends, technologies, and ideas in the Web3 space, creating unparalleled opportunities for networking and innovation.
With thousands of participants from across the globe, TOKEN2049 is a melting pot of ideas that are shaping the future of blockchain. Founders, entrepreneurs, investors and developers converge to exchange insights, form partnerships and explore the immense potential of decentralized technologies.
For Gala, TOKEN2049 is an exciting platform to showcase our vision for a decentralized future, one that goes far beyond gaming and entertainment. As we continue to evolve, the opportunities presented by TOKEN2049 couldn’t come at a better time.
Partnerships and Collaborations
In addition to giving us a chance to make plans and build with existing strategic partners, the event provides us with the perfect opportunity to explore new partnerships that align with our mission of empowering communities through blockchain. As the global Web3 industry rapidly expands, we’re looking forward to engaging with potential partners who share our vision and can bring fresh ideas to our growing ecosystem.
Expanding Our Mini-App Gaming Ecosystem
Our recent success with the Telegram Mini-App gaming ecosystem has opened doors for even more growth and collaboration. TOKEN2049 is the ideal venue to discuss how we can expand this ecosystem even further, offering more opportunities for developers and gamers to engage with Gala-powered experiences while collecting awesome rewards.
$TREZ and Potential Announcements
TOKEN2049 could also be the stage for an exciting announcement regarding $TREZ, our latest venture in the world of decentralized gaming and assets. Get ready for $TREZ to enter the wider crypto community, creating excitement and momentum for our newest projects.
What We Bring to the Table
At Gala, weâve always believed in the transformative power of decentralization and community-driven innovation. Our presence at TOKEN2049 will focus on highlighting the capabilities of GalaChain, our Layer 1 blockchain designed to handle the high transaction volumes demanded by modern applications, especially gaming. GalaChainâs versatility, efficiency and low fees make it a cornerstone for scaling Web3 industries beyond entertainment, including healthcare, finance, supply chain managementâ and more.
TOKEN2049 is the perfect platform to demonstrate how GalaChain, powered by multiple DePINs and our growing node ecosystem, is setting new standards for scalability and security in the blockchain space. Weâre eager to connect with like-minded innovators who are ready to collaborate on this revolutionary journey.
Looking Ahead
As we prepare for TOKEN2049, weâre energized by the possibilities this event will bring. The connections, ideas and partnerships formed here will shape the next steps in Galaâs evolution, pushing us closer to realizing our vision of a decentralized world powered by GalaChain.
NOTE: The following information about the future release of $TREZ is intended for informational purposes only and should not be considered investment advice.
Driven by our new âtapperâ genre of Telegram mini app web3 games, Gala is ready to unveil the economy plans for $TREZ, a token dedicated to ecosystem interaction and sharing.
Gala is creating one of the largest developer-friendly web3 ecosystems in the world, powered by the speed, scalability and security of GalaChain, Galaâs L1 blockchain built for entertainment and ready for anything.
Gala was launched in 2019 with a focus on ownership-enabled gaming. Gala Games quickly rose as a web3 leader in entertainment, launching Gala Music and Gala Film. In 2024, GalaChainâs doors were opened to external developers with the release of a powerful GalaChain Creator self-service portal and a public-facing SDK.
Witnessing the recent success of Telegramâs mini app ecosystem and its ability to integrate The Open Network (TON Blockchain) for seamless web3 functions, Gala began creating Telegram mini app games in Q3 2024 as a solution for enhanced web2 user acquisition across its ecosystem. By leveraging a mobile messaging platform used by nearly a billion users worldwide, it became simpler than ever to share the empowerment of web3 with the world. Today, Telegram mini apps represent the most high-powered onboarding tools web3 has ever seen.
What is $TREZ
$TREZ is the official token created by Gala Games to enrich and incentivize its growing ecosystem of Telegram mini app âtapperâ style games. With the initial publication of this litepaper, these games include Treasure Tapper and Music Coin, but this list is expected to expand in the future.
With its upcoming token generation event (TGE), $TREZ will be a fungible token initially minted on GalaChain, TON Blockchain or a combination of the two.
$TREZ will have a max supply of 100 billion tokens.
The majority of $TREZ will be allocated for distribution to users.
Getting $TREZ
$TREZ will be accumulated by accomplishing goals and tasks in Galaâs Telegram mini app âtapperâ games â currently limited to Treasure Tapper and Music Coin.
While the exact details of $TREZ accumulation within the games are still in flux, we are now prepared to share more information about not only the tokenâs distribution, but the initial list of criteria that will determine how much $TREZ will be received by each user with each distribution.
Part 1: Seasonal Rewards
$TREZ will be released into circulation on a seasonal basis, and season length will likely vary. For each Distribution Season, a variable (TBA) portion of the total $TREZ supply will be emitted to users.
Everything from the initial launch of Treasure Tapper to the $TREZ TGE will be considered part of Season 1. The end of each Distribution Season will be marked by a $TREZ distribution, with exact quantities per user determined using a point system based on the following criteria.
Seasonal Distribution Rewards
Here are some criteria by which seasonal $TREZ distribution per user is determined:
In-game Coins Collected
Rewards per Hour
Number of Direct Referrals
Number of Secondary Referrals
Creation of Gala Account
Number of Challenges played
Gala Store Spend
Missions Plus
Future seasons could bring the opportunity to purchase mission upgrades that will reward the upgraded player with more distribution points toward the upcoming Seasonal Distribution.
In-App Purchases
In later seasons, users may get opportunities to spend $TREZ for in-app or Gala ecosystem purchases. This type of purchase would be factored into the Seasonal Distribution.
Part 2: Daily Rewards
In addition to the Seasonal Distribution, players will have opportunities to collect daily distributions of $TREZ based on in-game tasks and challenges. Allocations of daily distributed $TREZ will typically be determined by leaderboard placement, encouraging daily competition and interaction with Galaâs $TREZ associated apps.
The majority of $TREZ distribution will be included in the Seasonal rewards.
Daily distribution leaderboards may include (but are not limited to):
In-game Coins accumulated
Daily tasks completed
Daily matches and rematches
Daily referrals
Daily play time (app open)
Powering the Future of Web3 Entertainment
As we prepare to introduce $TREZ into the Gala ecosystem, weâre setting the stage for a new wave of innovation and engagement. The tokenomics of $TREZ are designed to enhance the user experience within our ecosystem, particularly in our Telegram mini-app games.
By offering both seasonal and daily rewards, $TREZ not only incentivizes interaction but also fosters a more vibrant and active community. This litepaper is just the beginning, with more exciting developments on the horizon as we continue to expand the utility of $TREZ and integrate it further into the broader Gala ecosystem. Stay tuned for more updates, and get ready to tap into the future of web3 gaming with $TREZ!
Legal Notice: This litepaper is intended for informational purposes only and should not be considered investment advice. Additional information will be added to this document as it becomes available. All details are subject to change for any reason and without notice.
The decentralized token swapping protocol of the GalaChain ecosystem continues to make great strides and regular updates to its interface. Today weâre pleased to announce a handful of updates surrounding account inventory and p2p transactions beyond the standard creation and acceptance of swaps.
If you havenât started using GalaSwap yet, itâs now easier than ever to swap any of your GalaChain tokens for $GALA. With a fee of only 1 $GALA to create or accept a swap, this is the cheapest way to swap tokens anywhere on the decentralized web. All it takes is a free Gala account and a little bit of $GALA.
Sending Tokens
In addition to accepting and creating swaps, you can now send tokens directly to other GalaChain wallets through the GalaSwap interface. This is especially useful for the abundance of Project Tokens that have been created by the communityâ Until this update, there has been no simple way to transfer these tokens, with the exception of distribution by the project owner and in the completion of swaps.
Now all users have the option to send any fungible token listed on the platform to any GalaChain wallet. The ability to transfer NFTs will come with a future update.
This can be accomplished in a variety of ways, including through the Send tab or the Token list view, by choosing the 3-dot menu on the right as pictured below.
Additionally, you can now easily generate a QR code to receive tokens to your GalaChain wallet, using the updated navigation menu on the left side of the page.
View Your NFT Inventory
You can also now browse your GalaChain NFT Inventory right there on GalaSwap. Soon weâll implement the ability to trade and transfer NFTs directly from GalaSwap, but for now you can only view them.
Weâre extremely excited to bring the community this new and improved GalaSwap interface, and we want to remind you that this is only the beginning. We have a lot more awesomeness in store! Thanks for being part of this community.
This proposal addresses the need for a more refined emission mechanism in light of factors impacting burn rates. Currently, the halving schedule can result in abrupt changes in token distribution, especially if burn rates cause the supply to decrease beyond what is currently considered a current âtierâ. This can lead to an inelegant doubling of token emissions as halving tiers oscillate between emissions tiers. This could disrupt the economic stability of our ecosystem.
A smoother emission curve is proposed to ensure a stable and predictable token issuance, promoting long-term growth and stability.
Proposal Overview
I propose replacing the current halving schedule with a daily emission model. This model would emit 0.25% of the remaining gap between the total supply and the max supply each day. This change aims to create a more predictable and stable emission curve, aligning with the evolving needs of our ecosystem. This is based on a proposal submitted by Lukabylie, the creator of the WEN token.
Proposal Details
Background and Rationale
Factors affecting burn rates can cause the token emission to fluctuate, making the current halving tiers inefficient and unpredictable, especially if a source of significant burns enters the ecosystem. A situation where the emission is oscillating between two âtiersâ would be severely suboptimal.
A daily emission model at 0.25% of the remaining gap between the total supply and the max supply offers a gradual and consistent token release, better suiting the current economic realities of the whole ecosystem.
Implementation Plan
Terminate the current halving schedule immediately.
Implement the daily emission model. The emission will be calculated as 0.25% of the remaining gap between the total supply and the max supply.
Following implementation, all documentation will be updated to reflect this change.
Expected Outcomes
Stability: Reducing the market shocks associated with halving events will promote a more stable economic environment.
Predictability: A smoother emission curve provides clearer expectations for node operators and potential investors, aiding in long-term planning and investment strategies.
Governance and Voting
This proposal should be subjected to a governance vote, requiring a majority approval from Founderâs Node operators.
The voting period should last for at least one week, ensuring ample time for all operators to participate and voice their opinions.
Vote Details
Voting Period: Voting will be open for a period of 1 week, starting with the announcement of this proposal.
Eligibility: All Founderâs Node operators (1 vote per Founderâs Node)
Majority Requirement: a simple majority of 51% will be required to pass this proposal.
Vote Question
Should the $GALA dynamic halving schedule transition to a system in which 0.25% of the difference between Total Supply and Max Supply is emitted daily?
Yes: I am in favor of this emission update for more stable and predictable token emissions.
No: I am not in favor of this update and have voted that emissions should remain with the dynamic halving tier-based system.
Conclusion
Transitioning to a daily emission model at 0.25% of the remaining gap between the total supply and the max supply represents the strategic adaptation and evolution of our ecosystem.
I encourage all stakeholders to consider this proposal carefully and ask Gala to put it forward as a vote in favor of a more stable and predictable emission strategy.
$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 Ethereumâs massively popular secondary marketplace, OpenSea, youâll 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 Founderâs Node Operation
The main way that new $GALA enters the ecosystem is as a reward for the operation of Founderâs 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 Founderâs 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 4â 1 for each 6 hour period in which their node was active.
Gala Founderâs Node licenses can be acquired here. They are easy to set up and run in the background of a userâs 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. Hereâs 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 Legacyâs 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.
Galaâs 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! Donât let the relaxing and adorable feel of the game fool you. Itâs 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 Holdâem. 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 recipientâs GalaChain address – It will look like this:
client|5f64659d468267207aaf7982
In you accountâs Balances area, select $GALA (GalaChain) and choose Send $GALA (GalaChain).
Enter the amount youâd like to send, along with the recipientâs address.
Finalize the transaction with your Transfer Code and youâre 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 accountâs Balances page.Â
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 accountâs 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 arenât 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 havenât yet!
