Gala Games has upgraded the contract in the hopes of beginning a new era. The result is yet to be seen for the roadmap spreads across the year. However, Gala has announced that it will stick to two major developments this year, strengthening its commitment to the community.
The first development concerns burning $GALA tokens on the network. As a part of the 2023 Vision Paper, a total of 2 billion GALA tokens will be burnt during the year. The team has already sorted the initial burning of four GEMS Qs. Every GEMS Q has seen 500,000,000 $GALA tokens getting burned.
It was followed by the burning of additional 3,961,582,987 $GALA tokens, equivalent to the total revenue the team has ever received. Burning these additional tokens was a march toward improvement.
Gala justifies the move by reassuring that it is a contribution towards the cause and future of the node network.
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The second development relates to dealing with exit scams. These are nothing but tricky to be dealt with, for there are cases of dump and exit incidents, making the values worse for the entire community. Meaning exit scams put tokenomics at risk, especially from the point of view of the community.
Therefore, the long-term commitment extends to neutralizing dump-&-exit situations where users can dump and exit only if they have tokens on their hands. Ones without any token will need to secure the leverage first. Burning of the tokens is expected to contribute to this point with the ultimate aim of extinguishing the fear from the minds of the community members.
Having said that, Gala Games has initiated the burning of more than 15,000,000,000 tokens. It represents a vast majority of the reserve, leaving behind enough to meet general operating expenses and OpenSea fees, among many other expenses.
Moving ahead, Gala Games is planning to openly label its established wallet on-chain for everyone to see the reserves with 2 billion $GALA tokens. These will be the strategic reserve, demonstrating the testament to their long-term commitment to the community and the dedication to support the wide network of node operators.
Per the announcement, Gala Games now looks forward to living on the daily reward ecosystem with a decision to reflect on sustainability and self-sustainability. The team has chosen to thrive within its ecosystem, which has grown multi-fold from the point where the team had a headcount of dozens.
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Shedding some light on it, the team now has over 400 members who are spread across the world, making Gala Games truly an international company.
Gala Games, in the announcement, has expressed its excitement about the future wherein it prioritizes the community and sustainability while strengthening the network of node operators.
