Important crypto news: Gala v2 Airdrop Recent announcements
GALA holders can expect an airdrop to take place in the month of April, but they should not keep their funds on exchanges or liquidity pools.
In a blog, the team revealed that they had launched. The GALA v1 token will be removed from circulation immediately. Users who already have GALA on their device do not need any further action. Ethereum wallets.
The team has urged users to remove GALA tokens before 15th September from any smart contracts or liquidity pools. The tokens will not be released from the liquidity pool if they are still in the pool.
Exchanges have been contacted in order to facilitate a Smooth transition. The team “strongly recommends” store the tokens directly in your wallet so that you can receive the drop.
Gala Games is the largest Web3 gaming project and has released titles like The Walking Dead: Empires and Spider Tanks. Also, it has a bigger ecosystem which includes the Web3 Entertainment platform Gala Film. The GALA Token is a method of payment for digital assets in the ecosystem.
Unexpectedly, the airdrop follows the announcement that Hollywood Stars Danny Trejo, Mena Suvari and Emilio Rivera will be guest stars have been announced for “RZR” Web3 TV Series by Gala Film. The eight-episode series is set in dystopian Los Angeles where cryptocurrency and artificial intelligent are deeply intertwined in the criminal world.
The cryptocurrency exchange has also announced a collaboration with the company. Huobi will assist users in the event of an accident that caused them to suffer significant losses.
According to the case, Huobi and Gala Games minted $pGALA tokens worth over $1 billion “out of thin air” on the BNB Chain and sold them to others on PancakeSwap. GALA tokens are placed on BNB Chain plummeting by 97%.
As a result, Huobi and Gala Games filed a lawsuit in April to recover lost funds from pNetwork. Specifically, Huobi contacted Gala Games’ legal team and will join forces to protect its brand reputation and the interests of its users.
In a statement, Huobi invited all organizations and users affected by the pGALA event to join the joint suit against pNetwork. Huobi and Gala Games planned a recovery plan to provide $25 million in cash and capital equivalents to users who have suffered losses.
The compensation package includes $15 million USDT and equity compensation of $10 million. In addition, Gala Games will receive $25 million in node compensation.
The move by Huobi and Gala Games is a move to restore confidence in the industry and sends a clear message to all other companies that these incidents are not taken lightly.