Gala Games Launching v2 Upgrade: Enhanced Burning, Security Features and Scalability

04/18/2023 00:30 • AI & Tech Insights • 89 views

On April 18th, it was announced that the blockchain gaming platform Gala Games will launch a v2 upgrade on May 15th, with new features including enhanced burning mechanism, security enhancements, and future scalability. Users must remove GALA from any liquidity pool or smart contract before the snapshot on May 15th. The official has arranged for all users holding GALA (v1) on Ethereum to directly receive new GALA (v2) tokens 1:1 automatically. Afterwards, GALA (v1) will no longer be supported.

Gala Games plans to launch v2 upgrade on May 15th and replace 1:1 with new tokens

Introduction

Blockchain technology has been disrupting the gaming industry over the past few years, and Gala Games is one of the leading companies in the field. On April 18th, the company announced that they will be launching their v2 upgrade on May 15th, 2021. This upgrade will come with new features such as an enhanced burning mechanism, security enhancements, and future scalability. In this article, we will dive into the details of what this means for users and investors of Gala Games.

What is Gala Games?

Gala Games is a blockchain gaming platform designed to tap into the potential of decentralized technology. The platform allows users to create, play and own games with true ownership of in-game assets. Powered by the Gala token, the platform aims to revolutionize the gaming industry by providing gamers with true ownership of their digital assets.

The v2 Upgrade: Enhanced Burning Mechanism

One of the key features of the v2 upgrade is the enhanced burning mechanism. This mechanism will reduce the supply of Gala tokens in circulation, making each token more valuable. The mechanism will take a small percentage of the Gala tokens on each transaction made on the platform and burn them, reducing the supply and increasing the value of the remaining tokens.

Security Enhancements

Security is a top priority for any platform using blockchain technology. The v2 upgrade will come with several security enhancements to make Gala Games even more secure. The company has not released any information on what these security measures will be, however, we can assume that they will be robust and designed to protect users from hacks and other security threats.

Future Scalability

The v2 upgrade will also focus on future scalability. Blockchain technology is still in its infancy, and as more people and companies begin to use blockchain technology, it is important that platforms such as Gala Games are able to handle the increased demand. This upgrade will ensure that the platform can handle more users and transactions in the future.

Snapshot and Token Swap

Users who hold GALA (v1) on Ethereum must remove their tokens from any liquidity pool or smart contract before the snapshot on May 15th. The official has arranged for all users holding GALA (v1) on Ethereum to directly receive new GALA (v2) tokens 1:1 automatically. Afterward, GALA (v1) will no longer be supported.

FAQs

Q: Do I need to do anything to receive the new GALA (v2) tokens?

A: No, all users holding GALA (v1) on Ethereum will receive new GALA (v2) tokens 1:1 automatically.

Q: What happens to my GALA (v1) tokens after the upgrade?

A: GALA (v1) will no longer be supported after the upgrade.

Q: Will the new GALA (v2) tokens have any new features?

A: While the new GALA (v2) tokens will not have any new features at launch, the upgrade will pave the way for new features in the future.

Conclusion

The Gala Games v2 upgrade is set to launch on May 15th, 2021, and it comes with several new features, including an enhanced burning mechanism, security enhancements, and future scalability. These changes are designed to make the platform even more secure and valuable for users and investors. If you currently hold GALA (v1), make sure to remove them from any liquidity pool or smart contract before the snapshot on May 15th to ensure that you receive the new GALA (v2) tokens 1:1 automatically.

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