Gala v2 Airdrop Announced: What You Need to Know

Web3 game project Gala Games will release GALA v2 tokens to all GALA holders on May 15, the team announced in a blog post.

An automatic 1:1 conversion for all users has been organized, with support for the GALA v1 token being dropped immediately. No action is required from users holding GALA in their Ethereum portfolio(s).

The team advised users to withdraw their GALA tokens from any liquidity pools or smart contracts before the May 15 snapshot; if tokens are left in a liquidity pool, the liquidity pool will be jettisoned and the GALA may not be recoverable.

Exchanges have been contacted to facilitate a smooth transition, but the team “strongly recommends” storing the tokens in a personal wallet to ensure the drop is delivered directly to the holder.

Upgrading to Ethereum smart contract brings improvements including improved burning mechanisms, security enhancements, and future scalability.

What is Gala?

Gala Games is one of the biggest Web3 games projects, releasing titles such as The Walking Dead: Empires And Spider Tanks.

It also has a wider ecosystem which includes the Web3 entertainment platform gala movie. The GALA token is used as a means for users to purchase digital assets within the ecosystem.

The airdrop follows news that Hollywood stars Danny Trejo, Mena Suvari and Emilio Rivera have been announced as guest stars in “RZR”a Web3 TV series from Gala Film.

The eight-episode show is set in a dystopian Los Angeles where cryptocurrency and artificial intelligence are deeply intertwined with the criminal underworld.

Gala also announced, in partnership with crypto exchange Huobi, that it will support users affected by an incident that resulted in significant losses for users in November 2022.

According to HuobipNetwork Minted Over $1 Billion in pGALA Tokens “From Scratch” on the BNB Channel and sold them on PancakeSwap, causing the BNB Chain’s GALA tokens to plummet by 97%.

As a result, Huobi and Gala pledged to distribute up to $50 million to GALA token holders who lost money as a result of the pGALA incident.

Huobi and Gala have since sued against pNetwork to recover these funds.

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