Difference between revisions of "Gala (GALA)"

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===Bugs/Exploits===
===Bugs/Exploits===
* Gala Games $22M [https://rekt.news/gala-games-rekt/ exploit] via mint using admin access (5-2024).
==Governance==
==Governance==
===Admin Keys===
===Admin Keys===
Line 20: Line 23:
===Launch===
===Launch===
===Token Allocation===
===Token Allocation===
* From Decrypt (18-5-2023):
''"Gala Games announced this week that it has removed or “burned” almost 21 billion GALA tokens after completing its V2 token airdrop—more than $637 million worth at the time of the burns—from its own reserves in an effort to reduce concerns surrounding a possible “dump and exit” scenario. Gala detailed its approach to the burn in the post, noting that it had already planned to burn 2 billion GALA tokens as part of its “2023 Vision Paper” for the year. Another 3.96 billion tokens were then burned, which Gala Games said was “equivalent to the total revenue in GALA we have ever received.” The executive added that post-burn, Gala’s own treasury is now “almost completely eliminated.”"''
===Utility===
===Utility===
===Other Details===
===Other Details===
===Stablecoin===
==Coin Distribution==
==Coin Distribution==



Latest revision as of 01:30, 26 May 2024

Basics

History

Audits & Exploits

Bugs/Exploits

  • Gala Games $22M exploit via mint using admin access (5-2024).

Governance

Admin Keys

DAO

Treasury

Token

Launch

Token Allocation

  • From Decrypt (18-5-2023):

"Gala Games announced this week that it has removed or “burned” almost 21 billion GALA tokens after completing its V2 token airdrop—more than $637 million worth at the time of the burns—from its own reserves in an effort to reduce concerns surrounding a possible “dump and exit” scenario. Gala detailed its approach to the burn in the post, noting that it had already planned to burn 2 billion GALA tokens as part of its “2023 Vision Paper” for the year. Another 3.96 billion tokens were then burned, which Gala Games said was “equivalent to the total revenue in GALA we have ever received.” The executive added that post-burn, Gala’s own treasury is now “almost completely eliminated.”"

Utility

Other Details

Coin Distribution

Technology

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].

Implementations

How it works

  • From its FAQ (15-10-2021):

"A Founder’s Node is part of the largest decentralized gaming network in the world. There will only ever be 50,000 Founder’s Nodes; in the future, there will be other types of nodes that exist to support the network. One type of change that can occur comes as a result of the consensus vote, which node owners have the power to make. Oftentimes these votes will be about which games come to the Gala Games platform, but there are other types of votes as well. Everyone who operates a Founder’s Node is contributing to the growth of this decentralized gaming network. By running a Founder’s Node, you are working to give players real ownership of their assets and content."

Fees

Upgrades

Mining

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

  • Full team can be found [here].
  • Has 90+ team members (15-10-2021)

Funding

Partners

(:

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