GALA set to drop new v2 token to users

Gala Games Ecosystem has announced that it will be introducing GALA v2 as the new and improved ecosystem token highlighting it is part of the ecosystem’s growth. The new token will be dropped 1:1 to all GALA holders on May 15th.

The launch is an upgrade to the Ethereum contract and makes room for enhanced burn mechanisms, security enhancements, and future upgradeability.

All users holding GALA(v1) on Ethereum will automatically receive the new $GALA(v2) token in a direct 1:1 token drop. When the drop is completed, GALA v1 will no longer have any usability or be supported, the team said.

The GALA Games team also mentioned working with their exchange partners to facilitate a smooth transition.  However, users storing GALA in their personal wallet will have the token directly dropped to them.

Users are to strongly note that all GALA holdings must be removed from any liquidity pools or smart contracts before the snapshot on May 15th.  “We cannot guarantee that GALA dropped to liquidity pool contracts will be recoverable. It’s better to be safe than sorry,” the GALA said.

Further, users who own GALA outside of any liquidity pool or smart contracts do not have to do anything to be eligible for the drop. Additionally, for users who have their GALA unminted in the Treasure Chest, and decide to mint after the drop, will receive GALA v2.

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