Purpose
This article explains the upgrade process from $GALA v1 to $GALA v2.
Assumptions Made
This article assumes the reader understands the information in the following articles:
What is the Gala Games and Entertainment Ecosystem
Summary
On May 15th, 2023, $GALA v2 will be dropped as a 1:1 ratio to all $GALA v1 holders as a new and improved Gala Games and Entertainment ecosystem token.
With the Gala Games and Entertainment ecosystem continuing to grow and evolve, this significant upgrade brings significant improvements, including enhanced burn mechanisms, security enhancements, and future upgradeability. With an eye beyond the horizon, our team is dedicated to ensuring $GALA and the Gala Games and Entertainment ecosystem remain at the forefront of blockchain technology and usability.
In anticipation of the upgrade, all users holding $GALA(v1) on Ethereum will automatically receive the new $GALA(v2) token in a direct 1:1 token drop. After this drop, $GALA(v1) will no longer be supported or have any functionality within the Gala Games and Entertainment ecosystem. Exchanges have been contacted to facilitate a smooth transition, but it is highly recommended to store $GALA in a personal wallet to ensure that the drop is delivered directly to you. Users will need to remove their $GALA from any liquidity pools or smart contracts (such as Uniswap) before the snapshot on May 15th, as it cannot be guaranteed that $GALA dropped to liquidity pool contracts will be recoverable. It’s better to be safe than sorry.
It's highly recommended that users keep their $GALA on their personal Ethereum Wallet or Treasure Chest to ensure a smooth transition.