Gala Games has recently embarked on a bold initiative by incinerating approximately 21 billion GALA tokens, with an estimated worth exceeding $637 million. This action was taken following the successful distribution of its V2 token airdrop. The substantial reduction in Gala Games' token reserves is intended to address concerns regarding a possible scenario of massive token selling and abrupt withdrawal from the market.
Gala Games has recently embarked on a token burning initiative for their native currency, $GALA, in accordance with their 2023 Vision Paper. This move comes as a response to the community's demands and is a key component of the Gems program, which aims to bolster the mobile expansion efforts and enhance the node ecosystem. Gala Games has committed to burning a substantial amount of 2 billion $GALA throughout the year. While this commitment was previously challenging to track due to limitations with their v1 contract, the introduction of v2 has made it feasible to monitor the progress of the token burning process.
Gala Games took another significant step towards strengthening their network by permanently removing an additional 3,961,582,987 $GALA tokens from circulation. This amount is equivalent to the total $GALA revenue they have ever received.
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Gala Games
Gala Games has emerged as a prominent participant in the play-to-earn gaming sector, garnering considerable attention. The company aims to revolutionize the way we perceive and engage with online games.
Integral components such as the Gala Games Node, Store, and Wallet contribute to a unified ecosystem that empowers players to truly own their digital assets and reap rewards.
Among the noteworthy titles created in collaboration with Gala Games are Townstar and Spider Tanks.
Community Engagement
Gala Games' recent decision to burn billions of tokens is a significant and noteworthy action. The motive behind this move is to instill confidence in their community regarding their dedication to their shared mission and the sustained functionality of their node network.
By taking this proactive step, Gala Games has effectively tackled the widespread apprehension of potential exit scams, a prevalent concern within the blockchain sector.
Gala Games is looking ahead to a bright future with a clear vision. They have created a strategic reserve wallet containing 2 billion $GALA tokens, which is openly visible on the blockchain for anyone to confirm. This reserve is safeguarded by a multi-signature wallet, demonstrating Gala Games' enduring commitment to its community and its strong support for the node network.
In a groundbreaking display of sustainability, Gala Games makes a commitment to sustain itself solely through its daily ecosystem rewards, demonstrating a dedication to flourishing within its nurtured ecosystem. The company's goal is evident: to foster long-term collaborative growth by enhancing the node network.
Gala Games, a company that originated from a visionary idea, has emerged as a symbol of genuine ownership and inventive economic models. After dedicating several years to establishing their vision, Gala Games has transformed from a small team discussing ideas on Zoom into a thriving global gaming company with approximately 400 employees.
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