Gala Games updates the referral incentive system

Gala Games updates the referral incentive system

user avatar

by Max Nevskyi

3 years ago


After receiving feedback from the community, Gala Games has published a revised proposal for the referral incentive system, which Founder's Node operators can now vote on. One of the changes includes making non-chain referrals temporary unless they are written to blockchain through a burning process. If the proposal is approved, the system will be implemented within 90 days through a phased rollout.

Following community feedback and hosting an AMA in the Founder's Node Owner channel, Gala Games decided to revise its original proposal regarding the Referral Incentive System for ecosystem usage, making a couple of adjustments and putting it up for voting among Founder's Node operators.

Gala Games new proposal extends the implementation period of the referral incentive system to 90 days for additional work on integrating referrals into the blockchain, as opposed to the original 7 days. Now all referrals must be registered through a burning process to ensure their long-term activity and rewards for active ecosystem users. Referrals not transferred to the blockchain will have a temporary status, and their benefits will expire if the burning process is not completed.

It is also mentioned that the system will be implemented in phases. In the first two weeks, burn rebates will be provided for referrers based on burns in Ethereum, and the same will happen in one month on GalaChain. Approximately two months later, the first version of the Referral Dashboard will be introduced, and in 3 months, the second version of the dashboard will go live, alongside the ability to write referrals on chain. This means that once this phased rollout is over, non-chain referrals will start to have a countdown showing how much time is left until they expire.

The rest of the proposal remains the same and works as follows: when user C initiates a burn, the account that referred them, user B, will receive a reward equal to 8% of the burned amount, while the account that referred user B, user A, gets 2% of the burned amount. If the proposal is approved, the developers will look to implement the system within 90 days from the day of approval.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Fairshake Launches Bipartisan Campaign to Support Pro-Crypto Lawmakers

Fairshake is launching a bipartisan campaign to support 32 incumbent candidates in the House, focusing on those who back the House CLARITY market structure bill, with an initial commitment of $6 million in independent spending.

user avatarLeo van der Veen

Binance Introduces AI-Driven Trading Tools

Binance launches a suite of AI products aimed at enhancing trading experiences for various user levels.

user avatarLi Weicheng

Binance Announces Dividend Reinvestment for Tokenized Stocks

Binance has announced a dividend reinvestment process for holders of its Oracle and Marvell tokenized stocks, where dividends will be reinvested into additional fractions of the same securities.

user avatarAisha Farooq

Cryptocom Enhances Trading with Insilico Terminal Integration

Cryptocom has announced an integration with Insilico Terminal on October 6, allowing users to connect their Cryptocom Exchange accounts directly to Insilico's trading platform.

user avatarLi Weicheng

Binance Pay Launches Mobile Top-Up Promotion to Boost Crypto Spending

Binance Pay has launched a promotion offering eligible users a 20% discount on their first mobile top-up to encourage crypto spending.

user avatarTenzin Dorje

Hyperscale Data Reveals Financial Position on Bitcoin and Cash Reserves

Hyperscale Data disclosed its financial position, revealing it holds approximately $564 million in Bitcoin and cash as of October 4.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.