This article explains the tokenomics behind the $GALA token, including but not limited to the total supply, release schedule, and halving schedule.
This article assumes the reader understands the information in the following articles:
If totalSupply is ≤ 25,000,000,000, then the total daily emission to the Founder's Node distribution is 68,493,150.6849315.
If totalSupply is ≤ 37,500,000,000, then the total daily emission to the Founder's Node distribution is 34,246,575.3424658.
If totalSupply is ≤ 43,750,000,000, then the total daily emission to the Founder's Node distribution is 17,123,287.6712329.
If totalSupply is ≤ 46,875,000,000, then the total daily emission to the Founder's Node distribution is 8,561,643.83561644.
If totalSupply is ≤ 48,437,500,000, then the total daily emission to the Founder's Node distribution is 4,280,821.91780822.
If totalSupply is ≤ 49,218,750,000, then the total daily emission to the Founder's Node distribution is 2,140,410.95890411.
If totalSupply is ≤ 49,609,375,000, than the total daily emission to the Founder's Node distribution is 1,070,205.47945205.
…etc. This continues on forever.
$GALA began emission to Founder’s Nodes on September 11, 2020 with no token sale or premint phase. The project was independently funded with no investment rounds of any kind.
Approximately 2B $GALA are currently held in reserve by the Gala Games team.
On May 15th 2023, the Gala Games team burned approximately 20.9B tokens from the Total Supply, including all revenue previously received in $GALA and nearly all reserve $GALA that had been issued as Founder’s Node rewards. This burn, valued at the time at approximately $660M, was part of renewed commitment of transparency and sustainability to the Gala Games community, announced shortly following the deployment of the new $GALA contract on May 15th, 2023.
GALA is used as the gas token for all transactions on Gala Games’ own Layer-1 blockchain, GalaChain. All $GALA used as gas by the growing ecosystem of web3 games is burned.
Additionally, as the Gala Games ecosystem continues onboarding new games and selling new NFT items, many of these items will be sold for $GALA, resulting in $GALA being burned from supply.
$GALA Founder’s Nodes
50,000 Founder’s Nodes power the core of the Gala Games ecosystem. They are run by licensed operators who receive a portion of the daily $GALA distribution only if the Founder’s Nodes are active for the minimum required time during the previous 24-hour period.
Founder’s Node operators are also given the opportunity to vote on important ecosystem decisions via the Gala Games Node software.
Additionally, a portion of each NFT minted for the gaming ecosystem may be awarded randomly to active Founder’s Node operators.