$GALA is the official token of the Gala web3 ecosystem, continually ranking in the top 100 crypto tokens by volume on CoinMarketCap. This token serves as the driving force behind a dynamic and constantly expanding web3 world, fueled by GalaChain.
$GALA on Ethereum
Initially developed as an Ethereum-based token, $GALA remains interoperable with the Ethereum Virtual Machine even as GalaChain evolves. Seamless bridging between $GALA and Ethereum opens up access to various dApps and exchanges, both centralized and decentralized.
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When your $GALA is on Ethereum, you can:
- Create or fulfill buy and sell orders on numerous Ethereum-based exchanges
- Use it for GalaChain purchases through your connected web3 wallet
- Easily bridge it to GalaChain
- Transfer it to other Ethereum wallets
Learn how to link your Ethereum wallet to your Gala account.
$GALA on GalaChain
Newly minted $GALA on GalaChain allows owners to decide when to finalize the minting process. Once tokenized, $GALA can be:
- Spent within the GalaChain ecosystem
- Utilized in Gala Games
- Exchanged on GalaSwap
- Transferred to different accounts
- Bridged to Ethereum
Aside from purchasing from crypto exchanges, there are various ways to acquire $GALA.
Rewards for Founder’s Node Operation
$GALA enters the ecosystem predominantly through rewards for operating Founder’s Nodes, supporting the Gala ecosystem DePIN.
Active Founder’s Node operators receive daily distribution points based on their activity level the previous day, with a maximum of 4 points achievable per day. Setting up and running Gala Founder’s Nodes is straightforward and can be done through the Gala Node software on your home computer.
Rewards for Gameplay
- Champions Arena
Compete in the PvP Arena using NFT Champions to earn Victory Points that convert into $GALA rewards daily.
Engage in other Gala Games like Legacy, Echoes of Empire, Common Ground World, and Sweep It Poker to win $GALA prizes through various gameplay activities.
Using GalaSwap
Access GalaSwap to swap any token for $GALA, including project tokens, in-game currencies, and stablecoins from various blockchains. It costs only 1 $GALA to create or accept a swap on GalaSwap.
Trading on External Exchanges
Ethereum-based $GALA is tradeable on numerous exchanges worldwide, both centralized and decentralized. Visit the Markets page on CoinMarketCap for a list of $GALA exchange pairings.
Receiving as Direct Transfer
On GalaChain
- Acquire the recipient’s GalaChain address
- Select $GALA (GalaChain) in your account’s Balances section and choose Send $GALA (GalaChain)
- Enter the amount and recipient’s address, finalize the transaction with your Transfer Code
- Select Get GALA (GalaChain) in your Balances
- Share your GalaChain address or QR code with the sender
On Ethereum
Sending and receiving $GALA on Ethereum is similar to handling any other token within your preferred Ethereum wallet, such as Metamask.
Bridging $GALA
Easily transfer $GALA between Ethereum and GalaChain using your Gala account with a connected Ethereum wallet, like Metamask. Connect your Ethereum wallet via your account’s Settings under Linked Accounts.
When bridging between networks, keep in mind the transaction fees associated with the departing network. Bridging from GalaChain to Ethereum incurs a variable $GALA fee, while bridging from Ethereum to GalaChain costs a variable $ETH fee.
Explore more about bridging blockchain networks with Metamask Learn.
Cryptocurrencies and blockchain technology are here to stay, and understanding the basics early on will be beneficial in the long run as adoption grows.
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FAQs
1. How can I acquire $GALA tokens?
You can acquire $GALA tokens through Founder’s Node Operation, gameplay rewards, using GalaSwap, and trading on external exchanges.
2. What is the process for bridging $GALA between Ethereum and GalaChain?
You can easily bridge $GALA between Ethereum and GalaChain through your Gala account with a connected Ethereum wallet, such as Metamask, while being mindful of the associated transaction fees.
3. Where can I trade Ethereum-based $GALA tokens?
You can trade Ethereum-based $GALA tokens on various exchanges worldwide, both centralized and decentralized, with a list of pairings available on CoinMarketCap’s Markets page.
Credit: news.gala.com
