{"id":70823,"date":"2023-05-17T13:58:49","date_gmt":"2023-05-17T13:58:49","guid":{"rendered":"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/"},"modified":"2023-05-17T13:58:49","modified_gmt":"2023-05-17T13:58:49","slug":"gala-burns-42-of-token-supply-to-steelman-future","status":"publish","type":"post","link":"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/","title":{"rendered":"Gala burns 42% of token supply to steelman future"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Following the migration of its GALA token to a brand new sensible contract handle, Gala Video games has burned a sizeable proportion of the token\u2019s complete provide. <\/p>\n<p>As beforehand promised in its 2023 Imaginative and prescient Paper of the Gem program, it first burned 2 billion tokens. However then it burned an additional quantity \u2013 slightly below 4 billion tokens \u2013 which was the equal of all of the tokens Gala Video games had ever obtained in income. <\/p>\n<p>After which in one other transfer, it burned 15 billion GALA tokens, which it labelled \u201calmost the completely of our reserves\u201d. On the time of burning, these virtually 21 billion tokens have been value round $660 million. <\/p>\n<p>A ultimate allocation of two billion tokens have been moved right into a multi-sig pockets, which is able to act as a strategic reserve. The utmost provide of the GALA tokens is listed as 50 billion.<\/p>\n<p>In response, the value of GALA was rose 13% however, extra usually, it has fallen 21% over the previous month. <\/p>\n<p>Gala says this stunning transfer was to counter the view that it holding a considerable amount of tokens might be a \u201cbasic threat to the general tokenomics of the challenge\u201d by way of a \u201cdump and exit situation\u201d.<\/p>\n<p>Now, because it factors out, it \u2013 the central organisation \u2013 doesn\u2019t have any tokens to dump. As an alternative, the longer term issuance of GALA tokens might be gathered by house owners of Gala\u2019s nodes, and that is the one exercise by which Gala Video games itself will acquire extra tokens so its success is absolutely aligned with that of Gala\u2019s node holders.  <\/p>\n<p>You may learn the total rationalization right here. <\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.blockchaingamer.biz\/news\/24573\/gala-burns-tokens-supply-steelman-future\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the migration of its GALA token to a brand new sensible contract handle, Gala Video games has burned a sizeable proportion of the token\u2019s complete provide. As beforehand promised in its 2023 Imaginative and prescient Paper of the Gem program, it first burned 2 billion tokens. However then it burned an additional quantity \u2013 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":70825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[2517,101,615,19017,5528,2600],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gala burns 42% of token supply to steelman future - Gamepire News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gala burns 42% of token supply to steelman future - Gamepire News\" \/>\n<meta property=\"og:description\" content=\"Following the migration of its GALA token to a brand new sensible contract handle, Gala Video games has burned a sizeable proportion of the token\u2019s complete provide. As beforehand promised in its 2023 Imaginative and prescient Paper of the Gem program, it first burned 2 billion tokens. However then it burned an additional quantity \u2013 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/\" \/>\n<meta property=\"og:site_name\" content=\"Gamepire News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T13:58:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"jmol84\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gamepirenews.com\/#website\",\"url\":\"https:\/\/gamepirenews.com\/\",\"name\":\"Gamepire News\",\"description\":\"Gaming News Website\",\"publisher\":{\"@id\":\"https:\/\/gamepirenews.com\/#\/schema\/person\/d46394b6ba5e695c7dde4437fe52d243\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gamepirenews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg\",\"contentUrl\":\"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/#webpage\",\"url\":\"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/\",\"name\":\"Gala burns 42% of token supply to steelman future - 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However then it burned an additional quantity \u2013 [&hellip;]","og_url":"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/","og_site_name":"Gamepire News","article_published_time":"2023-05-17T13:58:49+00:00","og_image":[{"url":"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg"}],"twitter_card":"summary_large_image","twitter_image":"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg","twitter_misc":{"Written by":"jmol84","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/gamepirenews.com\/#website","url":"https:\/\/gamepirenews.com\/","name":"Gamepire News","description":"Gaming News Website","publisher":{"@id":"https:\/\/gamepirenews.com\/#\/schema\/person\/d46394b6ba5e695c7dde4437fe52d243"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gamepirenews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/#primaryimage","inLanguage":"en-US","url":"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg","contentUrl":"https:\/\/www.blockchaingamer.biz\/wp-content\/uploads\/2023\/05\/gala-games-legacy.jpg"},{"@type":"WebPage","@id":"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/#webpage","url":"https:\/\/gamepirenews.com\/index.php\/2023\/05\/17\/gala-burns-42-of-token-supply-to-steelman-future\/","name":"Gala burns 42% of token supply to steelman future - 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