What is GALA?
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This article explains what the GALA token is for the reader.
The GALA token is the main cryptocurrency used in the Gala Games Ecosystem. Learning about what this token is and what it does is important in understanding how to use it.
This article assumes the reader knows:
The GALA token is the digital utility token of the Gala Games ecosystem. It is cryptographically secured and native to the Gala Games ecosystem. GALA is transferable between users, and they have full control over how to use it. GALA powers the Gala Games Ecosystem. Founder’s Nodes earn GALA by supporting the ecosystem that games are able to run on. The first game produced for the Gala Games Ecosystem, Town Star, has a reward structure where the top 100 players are rewarded in GALA.
GALA is currently based on the Ethereum blockchain and conforms to the ERC-20 standard. GALA is a non-refundable utility token which will be used as the medium of exchange between participants in the Gala Games ecosystem. The goal of introducing GALA is to provide a convenient and secure mode of payment and settlement between participants who interact within the Gala Games ecosystem (for example, payment of digital goods or in-game items), GALA does not in any way represent any shareholding, participation, right, title, or interest in Gala Games, their respective affiliates, or any other company, enterprise or undertaking.GALA does not entitle holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities. This token was created to be utilized on the Gala Games ecosystem, and ownership of GALA carries no rights, express or implied.
Items held on the Ethereum blockchain can be accessed using a variety of open-source and cryptographically secure wallets and storage mechanisms. The wallet on the GALA website and in the GALA app is an open-source, keyphrase secured, wallet, and once you have created the wallet, only YOU have access to the funds and items stored within that wallet.