Gala Games (GALA) announced the launch of $GALA(v2) on May 15th, which brings several enhancements to the Gala Games ecosystem, such as advanced burning mechanisms, security enhancements, and future updateability.
The update will be available directly to all users holding $GALA(v1) on Ethereum via a 1:1 token drop.
Users are advised to store their $GALA in their personal wallet so that the drop is delivered directly to them. The blog post also states that $GALA(v1) will no longer be supported after the upgrade.
Gala Games said it is actively working with exchange partners to facilitate a smooth transition and recommended that users remove their $GALA from any liquidity pool or smart contract before the snapshot on May 15.
The team said it will keep the community informed with regular updates and announcements.
Gala (GALA) token is the core utility token of Gala Games, a blockchain gaming ecosystem that allows users to earn cryptocurrencies by playing games. GALA tokens can be used to make in-game purchases or trade with other players. GALA tokens are also awarded to nodes powering the Gala ecosystem.
The total GALA supply is approximately 50 billion, and the daily GALA distribution is halved on July 21 each year.
*Not investment advice.