Gala token burn. Users can … MAY 21 UPDATE – Stolen Funds Returned.

Gala token burn However, Shiba Inu gained prominence for its token burning efforts well before the introduction of the burn portal. News. The GALA As a force in the blockchain gaming industry, Gala Games, today announced a series of significant actions that underscore its commitment to community, sustainability, and the long-term strength of its node network. This action was taken to address what the company described as a “fundamental risk to the overall tokenomics of the project,” though it raised significant questions at the time. The token burning process will involve sending tokens to a designated smart contract, where they will be removed from circulation. Overview “We had an incident that resulted in the unauthorized sale of 600 million GALA tokens and the effective burn of 4. This week, Gala Games revealed that it has "burned" nearly 21 billion GALA tokens—valued at over $637 million at the time of the burn—from its own reserves. Founder’s Node operators login and vote here. What is the fully diluted valuation of This upgrade to the Ethereum contract for the Gala token brings a host of improvements to the table, including enhanced burn mechanisms, security enhancements, and future upgradeability. Bitcoin is something to burn money with, but not something to put money in. Home. the community was discussing a proposal to burn all GALA used in purchases in the official Store. Gala Games swapped to V2 tokens a year ago, allowing more control over blacklisting wallets and unauthorized mints. Introducing the Epic Gala Sweepstakes, where every 100 $GALA burned is a new chance to win big! Burn $GALA for a chance to win $GALA! Firebrand Noble Steeds Token Burn. The Gala Film platform’s official Token Generation Event (TGE) is happening on Thursday, December 5th, 2024. GALA have started off 2023 with a ERC-20: GaLa (GALA) Token Tracker on PolygonScan shows the price of the Token $0. 00, total supply 1,000,000,000,000,000, * - when `to` is zero, `amount` of ``from``'s tokens will be burned. We update our GALA to USD price in real-time. Burning tokens refers to the permanent removal of tokens from circulation, reducing the total supply and potentially increasing the value of the remaining tokens. 3) This section will show you how many tokens you have and the token's contract address. Gala did the best they could and even coinbase warning of what would happen if you didnt hold gala in your own non custodial wallet. Clearly, the games in our ecosystem have multiplied from a single farming simulation to dozens of In 2023, Gala Games faced controversy after announcing it would fork its GALA token and reissue it as GALA v2, followed by burning 42% of these new tokens. Die Community zeigt sich äußerst optimistisch hinsichtlich der zukünftigen Preisentwicklung des GALA Tokens. This innovative addition empowers our community to create their own custom tokens on GalaChain, marking a significant step forward in Total Supply = Onchain supply - burned tokens 42,394,315,493 Max Supply The maximum number of coins coded to exist in the lifetime of the cryptocurrency. Gala Games’ own BscScan allows you to explore and search the Binance blockchain for transactions, addresses, tokens, prices and other activities taking place on BNB Smart Chain GALA BURN (GALA) Token Tracker on BscScan shows the price of the Token $0. 80643604, number of holders 264,032 and updated information of the token. 38%-Founder's Node Distribution 2 (Post-Burn) 8. The burn was an effort to reduce concerns surrounding a possible “dump and exit” scenario. In this video I talk around the tokenomics of GALA and give my thoughts on some of the recent announcements from the team. Gala Film has already hit the ground running throughout this year with a decentralized community-run Theater Node network, multiple pieces of exclusive content, reward-enabled NFT Moments and much more. Now that Gala Games is able to publish games on its own blockchain (currently called Project GYRI), GALA is the “gas token” of transactions on that blockchain (like ETH on Ethereum). A recent security incident that resulted in the Voting begins on Wednesday May 3rd and ends on Monday, May 8 at 5pm PT. 5B GALA. 00, total supply 1,000,000,000,000,000, number of holders 490 and updated information of the token. This action follows the completion of its V2 token airdrop and is aimed at allaying fears of Uniting together, we have grown from a small zoom call of less than a dozen people to an international company of ~400. In order to burn 100. GALA Rallies 20% Following Amid Token Burn Proposal. Proposal Details Background and Rationale. In order to burn 100 tokens, one must provide an amount of 10000. * * Calling conditions: * * - when `from` and `to` are both non-zero, `amount` of ``from``'s tokens * will be to transferred to `to`. Burning these tokens will reduce the circulating supply of GALA tokens, potentially increasing their value. 03077, and in the 52-week trading session token, the lowest traded at $0. The 5 billion GALA will be The GALA token is the platform's currency for buying and selling in-game assets. 21,700,000 GALA Holders 2,853 Market Price. The most significant tweak is the enhanced token-burning mechanism. 46% in the last 🛑 Conteúdos Cripto 👇https://bit. This comes i . While building the blockchain infrastructure of our core entertainment brands of Gala Games, Gala Music and Gala Film, our team of web3 experts built something Gala Games and GALA Token Community. The first blockchain-powered game to Gala Games has confirmed an attack on the GALA token. Gala games’ native token, GALA turned out to be one of the biggest gainers of the day, and that too after witnessing a major hack event. Launching games like The Walking Dead a Web3 entertainment platform, is only one part of a larger ecosystem. I disagree that inflation of the token or what is causing the dip, as its in line with the general market niche. In an unprecedented move, leading gaming company Gala Games obliterated nearly 21 billion of its (CRYPTO: GALA) tokens, equating to more than $637 million at the time of the burn. 8K ETH. * - when `from` is zero, `amount` tokens will be minted for `to`. This comes in when Gala Games reported that the funds from the recent security incident have been recovered. adoc#using-hooks[Using Hooks The daily exchange rate of GALA (GALA) to EUR fluctuated between a high of €0. This burn mechanism does NOT change the max supply unlike a lot of other deflationary tokens out there. Remember that GalaChain will be a completely separate Gala games’ native token, GALA turned out to be one of the biggest gainers of the day, and that too after witnessing a major hack event. The GALA price surge comes after it released a report about the hack. We split revenue with tons of external developers and artists, and rest assured that they still get their share. Gala Games has burned over 15 billion or $660 million worth of its native token as a measure to counter concerns over an elaborate rug pull. In the last one month, Gala token price fell by over 27% with the lowest traded value of $0. 04120766 on Sunday and a low of €0. Bookmarked and Liked. The company said the attack “has been contained. But then it burned a further amount – just under 4 billion tokens – which was the equivalent of all the tokens Gala Games The live Gala price today is $0. 82 USD. Supply In the Gala games community channel, Jason explained that the Gala games burn idea basically works the same way ETH works. The best you can do now is send to coinbase wallet and swap for another coin to extract as much value as possible, because gala v1 is BscScan allows you to explore and search the Binance blockchain for transactions, addresses, tokens, prices and other activities taking place on BNB Smart Chain GALA BURN (GALA) Token Tracker on BscScan shows the price of the Token $0. Analysten prognostizieren, dass der Preis bis Ende 2024 zwischen $0. Apr 24, 2023. However, CoinGecko data suggests the On Monday, May 15th, at approximately noon PT, Ethereum block # 17267620 will usher in the new $GALA contract. A burn address allows users to effectively remove tokens from the available supply, decreasing the circulating supply. 03273806 on Friday in the last 7 days. 4 billion GALA tokens, along with 600 million from the central Gala Treasury, to ensure the stability of the ecosystem. pinksale. ” CEO Eric Schiermeyer hinted at what permitted the attack. For example if you must wait 5 seconds before making another request, the API will send a 429 On May 15th, GALA(v2) will be dropped 1:1 to all GALA holders as the new-and-improved Gala Games ecosystem token The Great GALA Token Burn. Check previous token balance; Add Token to MetaMask (Web3) Update Token Info; Update Name Tag or Label ; Submit Burn Details; Report/Flag Address. 00, total supply 1,000,000,000,000,000, number of holders 611 and updated information of the token. games Burn tracker provides real time burn statistics of popular blockchain projects such as Shiba Inu, Doge coin, Baby Doge coin, Yooshi etc. However, we assumed that if Founder’s Node Operator The ultimate goal of the company is to enhance the stability of token prices after burning unwanted tokens. The intraday trading range of the Gala token is $0. GALA has gained 400% since the start of November, taking it into the top 50 cryptocurrencies by market cap. Meanwhile, the GALA price is yet to respond to the massive token burn, as it is down 2. This innovative plan involves using the The co-founder of Gala (), Eric Schiermeyer, is revealing the genesis of an exploit that led to the loss of crypto assets worth millions of dollars on the blockchain-based gaming platform. 38%: 8. You may have heard rumors about Gala’s current plan to burn all revenue from first party sales. What Happened GALA token’s market performance has shown impressive growth, Additionally, Gala Games has declared plans to burn 21 billion Gala coins to deter old tokens from being sold in the future, further affecting the token supply. Overview Max Total Supply. But unfortunately for the exploiter, it seems that GALA dev has blacklisted the exploiter. 3 million — close to the market value of the 600 million In this video I talk about the upcoming token upgrade for Gala which will enhance the performance of security, token burn mechanism and bring along many othe Gala burn is designed to bring value to Gala games holders, we want to burn Everything and bring value to Gala games holders 🔥🔥 Our supply is one of the lowest only 1,000,000 one million tokens and we are proud of this let's blow up Our tokens and Making the community rich we are anonymous but we are here let's do like Satoshi nakamoto Gala Games blacklisted the hacker’s wallet immediately after 600M GALA were sold for $21M in ETH tokens. I love gala but this rubs me wrong. 00, total supply 6,977,205,436, number of holders 2 and updated information of the token. Voting begins on Wednesday May 3rd and ends on Monday, May 8 at 5pm PT. 2 ETH worth $22. 0356, total supply 38,614,775,558. Among many revolutionary features, perhaps the most appealing aspect of cryptocurrency is the control it restores to users. Token burning can also help strengthen the community's trust in the Gala Games platform. 02762. Gala Games announced this week that they have burned a massive 21 billion GALA tokens, with a value exceeding $660 million at the time of the burn. First they burned 2 billion GALA tokens which they had promised earlier in the year. Confirming the return of funds in the Gala Games Discord server, Schiermeyer outlined a visionary strategy called the “buy and burn” model. New comments cannot be posted. Token Burn & Halving Question Will there be a token burn? And i saw that this coming july there will be halving, will it affect the price of the token? Locked post. Schiermeyer says that a security incident triggered the “unauthorized SALE of 600 million ($21 million) GALA tokens and the effective BURN of 4. 2023, the Gala community revealed that it had reduced $27 Billion in tokens after completing the V2 token airdrop. Onchain Market Cap . The GALA token from Gala Games tanked yesterday after a bad actor found an exploit in the smart contract, which saw them mint 5 billion tokens. The GALA v2 token introduces several key enhancements aimed at improving the overall functionality and security of the Gala Games ecosystem: Enhanced Burn Mechanisms: The new token incorporates an improved burn mechanism that allows for a more dynamic and responsive token economy. ” Gala Games’ token, GALA, was a top gainer on Wednesday after funds from a recent security incident have been recovered and proposed to burn for the token’s stability. In the march for improvements, it proceeded to burn an additional 3,961,582,987 GALA, equivalent Gala (GALA) Token Tracker on BscScan shows the price of the Token $0. Plus it’s up 243x from its all-time Low just 2 years ago. There has been speculation that the company may be planning a token burn, which The burnt tokens go back into the distribution pool to be “mined” later by the node operators. Market Reaction and Stabilization The Contract Address 0x15d4c048f83bd7e37d49ea4c83a07267ec4203da page allows users to view the source code, transactions, balances, and analytics for the contract Shiba Inu (SHIB) frequently garners attention for its significant token burn initiatives. The remaining token can't be transferred or traded. This is due to a burner address only being able to receive but not being able to send out of it. Supply Schiermeyer accused Thurston of stealing and selling at least $130 million worth of GALA tokens, prompting the GALA token fork and burn to render the allegedly stolen tokens worthless. In Thurston’s counter-suit, he alleged that Schiermeyer enriched himself at the expense of Gala Games as a company and Thurston as a co-owner, referring to Gala Games, a leading player in the blockchain gaming arena, recently unveiled plans for an airdrop involving their updated version 2 (v2) tokens, scheduled for May 15th. Further, it alleges Schiermeyer spent $5 million on a down payment for a private jet. Gala was able to recover $22 million in Ethereum on Tuesday after the attacker decided to return some of the funds. 20%: 8. 07 $GALA coins have been burned. In a massive commitment to community trust, a total of about $620 million in $GALA was burned from company owned wallets, and a new vision Gala Games’ GALA token gets pumped after the company’s successful recovery of funds stolen in a security breach and a proposed large-scale token burn to stabilize the ecosystem. Gala said v2 tokens are part of a broader upgrade to the Gala smart contracts on the Ethereum blockchain. 20%-Vesting Info. The The GALA token powers Gala Games and runs on Ethereum. Notification. * - `from` and `to` are never both zero. 00, total supply 10,000,000,000, number of holders 169 and updated information of the token. This is community-generated content, I'm in your boat man. I can't believe I lost money because of this. 13. Measures taken post the exploit included the freezing of 4. As previously promised in Gala Games has taken a brave step by burning nearly 21 billion GALA tokens, valued at over $637 million, following the completion of its V2 token airdrop. Coinbase is not a good company at all. $0. The immediate aftermath saw GALA’s price plummet to a 24-hour low of How to use GalaSwap The Future is Open and Decentralized. And to show their company support for the long-term vision, the Gala Games team decided to burn a large number of GALA tokens in several transactions. Following our security team’s swift, effective response and the involvement of Federal law enforcement agencies, the >$20M (in ETH) has been returned to the Gala ecosystem. On May 21, the attacker’s wallet sent back 5913. Being Ethereum-centric, the updated Gala (GALA) tokens will bring multiple changes to the ERC-20 smart contract. This shouldn’t have happened, and we are taking steps to ensure it doesn’t happen again,” Schiermeyer stated. Gala Games has received around $22 million in Ether ETHUSD from the person responsible for a May 20 “security incident” where $200 million worth of Gala GALAUSD tokens were minted and a small portion sold before the wallet was frozen. “A new contract allows us to create a more formalized burning process for gas transactions, enable governance votes that update emission schedules and dynamic supply, and This upgrade to the Ethereum contract for the Gala token brings a host of improvements to the table, including enhanced burn mechanisms, security enhancements, and future upgradeability. They further plan to burn around $2 Billion of Gala Games’ CEO Takes Charge. This action follows the completion of its V2 token airdrop and is aimed at allaying fears of Gala Games has its own utility token, GALA, developed as a gaming token to support the Gala Games ecosystem. In total, the hacker sold around 600 million of the tokens via the Uniswap DEX, worth roughly $29 million. This feature will help maintain the value of the GALA token and Token Burning Requirement: In an effort to maintain a balanced token economy and control token supply, users may be required to burn a certain amount of tokens to unlock their nodes for conversion into NFTs. Founder’s Node licenses can now be tokenized as NFTs on GalaChain, making them available for transfer. This Gala Games Burns $637M in GALA Tokens to Secure Community Trust - NFT News Today Gala (GALA) Token Tracker on Etherscan shows the price of the Token $0. In a statement, the developers said that all purchases made in Gala’s ecosystem using the GALA token will see it get burned. In. Mirandus Team. To upgrade the $GALA contract to include a definitive and irreversible burn of the same quantity of unauthorized tokens, or tokens determined by law enforcement to be illegitimately gained, After logging into the Gala Games site, you can access this page by clicking your profile icon in the upper right and selecting the "Account" tab followed by the "Token Burn Gala Games purposefully destroyed $637m worth of $GALA tokens last week. by. With an eye beyond the horizon, Gas Token. The launch of GalaSwap on GalaChain is more than just a new product; it’s a statement of intent. Reply reply Gala (GALA) Token Tracker on Etherscan shows the price of the Token $0. 00507198 ( 12. In addition, they burned another 3,961,582,987 GALA tokens, which equates to the After the upgrade, we will no longer be supporting GALA v1 tokens. 38,614,775,558. There is a hard cap of 50 billion GALA tokens for the total supply, with about 38 billion in circulation at the time of writing. * - `from` and `to` are never both 12,489. 068 und $0. Use our token unlock calendar for planning and optimizing your investments. Today, we are delighted to announce that we are in the process of bringing the GALA token itself to the Flare network! In the future, users 3:20 PM · Apr 30, 2021 For example, he’s alleged to have started various new subsidiaries and decided to reissue the Gala token and burn large quantities of it without seeking wider approval. Token Handling: The malicious actor returned the ETH obtained from selling GALA, which has been used to buy back and burn tokens. The response will contain a Retry-After header indicating the number of seconds you must wait before making another request. When a “buy” is made on the Gala platform during the program, the GALA tokens used will be burned. The token tracker page also shows the analytics and historical data. If you see multiple tokens with GALA in their name, you can click them individually to look these tokens up. The gaming studio burned the tokens in response to its community asking for a reduction in token supply. The versatile L1 platform, coupled with tools designed for easy integration, A token cannot be destroyed on a blockchain but can be "removed" via sending it to a burn or null address. At the time of the incident, the 5 billion minted tokens were worth roughly $240 million. Check the current Gala price live data, market cap, circulating supply, trading volume, historical statistics, etc. For those who aren't familiar, Gala Games is a blockchain-based gaming company that has seen a significant increase in value for their token (GALA) over the past few weeks. The GALA exploiter profile 6 hours ago. 3 min read · Jul 10, 2023--Listen Gala (GALA) Token Tracker on BscScan shows the price of the Token $0. finance/launchpad/0x06fa36493b0fADB9ecc5eCd tldr; Gala Games has removed or “burned” almost 21 billion GALA tokens after completing its V2 token airdrop from its own reserves. Gala Games announced this week that it has removed or “ burned ” almost 21 billion GALA tokens after completing its V2 token airdrop—more than $637 million worth at the time of the burns The Gala Games team has introduced new ways to enter to the weekly $GALA sweepstakes drawing through $FILM, $MUSIC or even NFTs Last week, Gala announced the Pay-by-Burn mechanism to incentivize founder node operators to run their nodes for longer. Gala (GALA) Token Tracker on Etherscan shows the price of the Token $0. If you want to buy Founders NODE (now 90k $), you can buy it only with a GALA token but at the current price and market condition, who is going to put 90K into the node for making five bucks as a reward Community Engagement and Token Burn: The Gala community has been actively involved in token management, having burned around $637 million of its native tokens to balance the price. It offers comprehensive modules including Blocks, Transactions, Nodes, NFTs, Tokens, and in-depth Analytics, providing a full range of on-chain data queries and analysis services for users. ly/conteudos-cripto🛑 Gala Burn 👇https://www. I'm sure many of you are aware of the recent speculation surrounding Gala Games' token burn. As the Gala Games ecosystem continues to grow and evolve, we are thrilled to announce the upcoming launch of GALA(v2) on May 15th. 44%) Gas: 88. This includes * minting and burning. , along with in-depth This is what players will see when converting GALA [GC] to GALA [ETH] Once GalaChain is released (several months from now), players will be able to not only transfer items or convert tokens from GalaChain to ETH, but also send items/tokens to other players’ GalaChain Inventories. Todayq Token Gala (GALA) CRC-20. Users can still buy with ETH or credit cards, but all GALA used to purchase digital assets will be forfeited. When. The company, which has grown from a small team of a dozen people on a Zoom call to an international company with approximately 400 employees, Tried to follow help line link below but says it does not exist. Amidst the chaos, Gala Games’ CEO, Eric Schiermeyer, known as Benefactor, emerged as a beacon of hope for the community. Gala Games has taken a brave step by burning nearly 21 billion GALA tokens, valued at over $637 million, following the completion of its V2 token airdrop. Notably, the lawsuit also alleges that the reissuing of the Gala tokens cost Thurston We are excited to announce a groundbreaking new feature now live on GalaSwap: The Project Token Creation Tool. 55 tokens, one must provide an amount of 10055. Gala directed readers to on-chain Ethereum network transactions for each stage of the overall token burn, claiming it represented $660 million worth of tokens. 4 billion tokens. The wallet still holds 4. One avenue through which investors are incentivized to participate in coin burning is via the burn portal, which was unveiled in April 2022. The most significant burn, comprising 15 billion tokens, is Gala's answer to community worries about the aforementioned "dump and exit" scenario. As the interest of investors in tokens is going back up this new year, blockchain gaming platform Gala Games and its native token GALA are gaining traction and recently went up in value after it teased its upcoming token burn mechanism as well as the onboarding of 15 mobile games into their ecosystem. How to Acquire and Trade Gala Cryptocurrency . Gala Blog. These factors and more contribute to the evolving dynamics of GALA token supply and demand. ” Erwartungen der Community für GALA. comhttps://www. The upgrade is designed to make Gala more secure and will introduce burn mechanisms, which In line with its commitment to burn two billion Gala tokens throughout the year, it first made four burns of 500,000,000 Gala each. I grasp that the halving is about lowering inflation/emissions of the token. In a blog post on Tuesday, the Gala Games development team revealed As a force in the blockchain gaming industry, Gala Games, today announced a series of significant actions that underscore its commitment to community, sustainability, and the long-term strength of its node network. The future goal is to integrate token burn practices to reduce overall supply, promoting scarcity and Gala Games has burned over 15 billion or $660 million worth of its native token as a measure to counter concerns over an elaborate rug pull. Trending Articles. Share Gala Games’ GALA token gets pumped after the company’s successful recovery of funds stolen in a security breach and a proposed large-scale token burn to stabilize the ecosystem. The Token Burning Requirement: In an effort to maintain a balanced token economy and control token supply, users may be required to burn a certain amount of tokens to unlock their nodes for conversion into NFTs. LIVE. This activity is part of a strategy to reduce the overall token supply, potentially leading to price increases as demand increases and supply reduces. As GalaChain prepares for substantial growth, Gala remains committed to supporting external developers joining the ecosystem. When the Gala is burned it will be added to an emissions pool to be re-emitted through the Founders Nodes in the normal Gain detailed information about Gala (GALA) unlock and vesting. 08999. I import the new contract on metamask it shows 0 but when I add the old contract address it shows all my tokens but I can do any thing with them. But I understand Iv had some gala on my metamask for about 6 months and on ether scan it says that the airdrop went through fine. Creator Center. 601187 (+0. It's kinda fucked that i stepped back from crypto for a bit only to find out a token I was holding is useless now because I didn't move it before its upgrade. If you exceed the limit, you will receive a 429 Too Many Requests response. The 5 billion tokens created Third, the most recent reason why Gala has surged is the new introduction of pay by burn approach. We thought it was high time that we run through all of the fungible tokens on GalaChain’s platforms and let you know exactly how you can get your hands on some of Gala Games News In order to burn 100 tokens, one must provide an amount of 10000. One of the core ways To deal with the security incident, the organization has proposed burning 4. The year would Token burning means destroying a coin or token permanently – but why do this? It’s a great question, and here we have your answer. When new tokens are submitted, node operators have 24 hours to decide if the new The Gala Ecosystem, powered by the revolutionary GalaChain, stands at the forefront of blockchain innovation, offering a versatile and secure platform for gaming, entertainment, and beyond. In 2023, Gala was surrounded by controversy after announcing it would fork its GALA token and reissue it as GALA v2, followed by burning 42% of these new tokens. The 5 billion tokens created by the actor will be burned. This decision was driven by the Following the migration of its GALA token to a new smart contract address, Gala Games has burned a sizeable proportion of the token’s total supply. 50billion tokens w no burn mechanism is not good. 00, total supply 44,959,375,544. This upgrade to the Ethereum contract for the Gala token brings a host of Following the migration of its GALA token to a new smart contract address, Gala Games has burned a sizeable proportion of the token’s total supply. Giving details on how Gala Pay by burn would work, Jason Brink said that when GALA All tokens created via the Project Token Creation Tool must be approved by popular vote in the Gala Founder’s Node ecosystem. GALA(v2 Gala Games, a leading player in the blockchain gaming arena, recently unveiled plans for an airdrop involving their updated version 2 (v2) tokens, scheduled for May 15th. This wouldn’t be the first time GALA tokens are unexpectedly burned. If you deposit GALA v1 to your Netcoins Account, it will not be accepted and you risk losing the token. Links to official documents Basically got token burned Reply reply I own gala old version and coinbase said my gala tokens are worthless. 00 @ 0. While the alert didn’t provide many details on the exploit, Gala Games CEO Eric Schiermeyer revealed in an X post that the company had “messed up” its internal control, permitting an incident that resulted in the “unauthorized sale of 600 million GALA” and the burn of 4. Impact of Burning GALA Tokens. 104 liegen könnte. GALA is designed to power the Gala Games ecosystem to support gaming re-imagined to benefit creators and players, alike. * - when `to` is zero, `amount` of ``from``'s tokens will be burned. 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. Gala Games, a blockchain-based gaming platform, has announced that it will be launching a new and improved version of its native tokens, GALA(v2), on May 15th. 01 GWei / Light Dim Dark Submit Burn Details; Report/Flag Address. In line with its commitment to burn two billion Gala tokens throughout the year, it first made four burns of 500,000,000 Gala each. Gala Games and GALA Token Community. But things are about to get The GalaConnect API has a global rate limit of 20 requests per every 10 seconds. This is based on a proposal submitted by Lukabylie, the creator of the WEN token. What Gala Games announced this week that it has removed or “burned” almost 21 billion GALA tokens after completing its V2 token airdrop—more In mid May of 2023, a powerful decision was made by Gala’s leaders. Those rumors are 100% true. In January, Gala Games foreshadowed Introducing GALA(v2): A New Era for the Gala Games Ecosystem On May 15th, GALA(v2) will be dropped 1:1 to all GALA holders as the new-and-improved Gala Games ecosystem tokenblog. Thank your intuition for staying What is the mechanism and future goal for GALA coin circulation and token burn? The GALA token utilizes a mechanism where part of its total supply is regularly circulated within its gaming ecosystem for rewards, operations, and node incentives. Unsold Firebrand Noble Steed NFTs will burn on June 1st, following the playtest! We’re back with more information about the upcoming update to GALA and the audit results for the token’s new contract. Gala was able to recover $22 Gala Games, the Web3 startup behind games such as Mirandus, Grit, and The Walking Dead: Empires, recently announced burning of a substantial quantity of GALA tokens, virtually depleting its treasury. Within the week, the price of GALA in EUR had the largest 24-hour price movement on Wednesday (3 days ago) by -€0. Submit Burn Details; Report/Flag Address. The purpose behind this significant token burn is to alleviate concerns among GALA holders, as there is a high possibility of a substantial dump in GALA’s value following the release of token v2. These factors and more contribute to the evolving dynamics of GALA token supply and demand . This substantial reduction in Gala Games’ reserves aims to alleviate In an unprecedented move, leading gaming company Gala Games obliterated nearly 21 billion of its (CRYPTO: GALA) tokens, equating to more than $637 million at the time Path to Growth. This includes deposits, trading and withdrawals. 03554 USD with a 24-hour trading volume of $132,606,020. The token can be used to purchase NFTs for various games and collectible series. Jason Brink, the President of Blockchain at Gala Games, believes their need for GALA tokens can be met without a surplus reserve. Blockchain technology provides you the ability to have absolute ownership over your assets. 000000 CRO. Gala BURNED 6 Billion tokens TODAY! (2 Billion and another 4 Billion per article)15 Billion Prepared to be BURNEDAbout 21 BILLION To Be Burned By End. It swapped 500M GALA to 4. 00 Circulating Supply Market Cap - Other Info Token Contract GalaChain Explorer is a block explorer and analytics platform for GalaChain. Nevermind other tokens were able to upgrade without doing this. The GALA price has been up an incredible 34,200% since January 1, 2021. These include better burn mechanisms, more security, and the possibility to be upgraded in the future. Anyone with the slightest modicum of legal understanding of the space knows that to discuss a potential future burn is tantamount to token price manipulation. Market cap is measured by multiplying token price with the circulating supply of GALA tokens (42 Billion tokens are tradable on the market today). when `from` is zero, `amount` tokens will be minted for `to`. The GALA token’s utility extends beyond mere currency as it serves as a means for players to hold a stake in the network’s growth and participate in its governance. My GALA was on coinbase and I have a coinbase wallet but did not realize my units had to be moved for drop to work. This can be Schiermeyer mentioned in a Discord post that the team is likely to use the returned ETH to buy back and 'burn' an equivalent amount of GALA tokens. Before February 2021, the price of GALA was below a single cent but as the platform and network grew, the value followed suit. 4 billion of unsold GALA tokens, which the CEO described as an “effective burn,” Commenting on the exploit, Schiermeyer said: BscScan allows you to explore and search the Binance blockchain for transactions, addresses, tokens, prices and other activities taking place on BNB Smart Chain GALA BURN (GALA) Token Tracker on BscScan shows the price of the Token $0. . 02976 and $0. Install the Gala Launcher on macOS; Uninstall The Gala Launcher On Windows; Install the Gala Launcher on This week, Gala Games revealed that it has "burned" nearly 21 billion GALA tokens—valued at over $637 million at the time of the burn—from its own reserves. It’s official. 3% ). Be careful before buy any tokens or coins in Coinbase brokerage otherwise lose all money like me. gala. In an update, Schiermeyer said the Gala team managed to secure and remove unauthorised access to its smart contract within 45 minutes of the incident. Profile. This transaction accepts zero unit token burn operations for fungible tokens Transaction Signing Requirements. 00, total supply 10,000,000,000, number of holders 574 and updated information of the token. 01555 and the highest traded at $0. Gala burn is designed to bring value to Gala games holders, we want to burn Everything and bring value to Gala games holders 🔥🔥 Our supply is one of the lowest only 1,000,000 one million tokens and we are proud of this let's blow up Our tokens and Making the community rich we are anonymous but we are here let's do like Satoshi nakamoto and let's go to the moon Token Burn Allowances; Bulk Bridge NFTs to GalaChain on the Gala Games Website; Locating an Apple Store Receipt ID; Create an Epic Games Account; Locating A GPA Receipt ID ; Use a Promo Code on the Gala Store; See all 40 articles Gala Games Launcher. The development team shared this information in a blog post, outlining the key improvements and functionalities of the v2 tokens compared to the original version 1 (v1) tokens. 5B GALA ($206M) was minted and transferred to 0xe2ca47112. Gala Games nodes will vote to burn the unauthorized mint and reimburse accounts that suffered losses. We messed up our internal controls. Gala (GALA) Token Tracker on BscScan shows the price of the Token $0. The move comes one day after an unidentified hacker exploited Gala's internal controls to mint 5 billion new GALA On May 15th, 2023, $GALA v2 will be dropped as a 1:1 ratio to all $GALA v1 holders as a new and improved Gala Games and Entertainment ecosystem token. Dies weist auf eine potenzielle Rendite von bis zu 314 % im Vergleich zum aktuellen Preis von $0. It With the breakout of public development on GalaChain, however, tons of new fungible tokens have joined the Gala Ecosystem! With so many tokens, it can be easy to get turned around. This action demonstrates Gala Games' commitment to addressing the impact of hacking incidents and protecting users. Gala Games will launch the “Pay-by-Burn” program in Q1 of 2023. The tokenomics is horrible. Explore tokenomics and how it's changing with our token distribution chart. * * To learn more about hooks, head to xref:ROOT:extending-contracts. Link to Additionally, Gala Games has declared plans to burn 21 billion Gala coins to deter old tokens from being sold in the future, further affecting the token supply. The company claimed this was to mitigate the “fundamental risk to the overall tokenomics of the project. GALA price jumped by big 20% in the last 24 hours. 83593346, number of holders 224,551 and updated information of the token. POL Price: $0. As previously promised in its 2023 Vision Paper of the Gem program, it first burned 2 billion tokens. (Post-Burn) 8. The company, which has grown from a small team of a dozen people on a Zoom call to an international company with approximately 400 employees, MAY 21 UPDATE – Stolen Funds Returned. Members Online • Carltech515 . Settings. Users can MAY 21 UPDATE – Stolen Funds Returned. * - `from` and `to` are never both Gala Games plans to launch the Pay–by–Burn program in Q1 2023. The mechanism proposes burning all the GALA used in purchases on the platform for Q1 2023. Click the shown token as shown below. galaburn. 80643604, number of holders 251,749 and updated information of the token. For more information about the Gala token upgrade, check out the official announcement here. jrcpmk jfhbi spvx yielz vdxea ypub hkkwhczy rrmfwtb dlphp dclrae