$GALA serves as the official ecosystem token for Gala, functioning primarily as a utility and gas token for blockchain transactions. Gala did not conduct an ICO or any other initial issuance event for the $GALA token. Instead, new $GALA tokens entering the circulating supply are distributed exclusively to Founder’s Node operators, rewarding them for supporting the decentralized ecosystem. For more detailed information on the $GALA token and the broader Gala ecosystem, please refer to the Gala Ecosystem Blueprint (PDF).

Gala was established in 2019 by Eric Schiermeyer, the co-founder of Zynga and an innovative leader in the realms of social and blockchain gaming, with a proven history of successfully navigating new technological sectors. Early on, Schiermeyer was joined by leading developers from the blockchain industry and prominent figures in game development, positioning Gala as a prospective leader in the web3 space. As of early 2024, the San Francisco-based global company comprises over 350 full-time employees. This workforce supports the core brands of Gala Games, Gala Music, Gala Film, and GalaChain, not including the numerous contractors and external developers who contribute to expanding the decentralized Gala ecosystem.

Several key characteristics distinguish Gala from other projects in the web3 space: 1. **GalaChain** - To support its multiple decentralized networks, beginning with entertainment brands in games, music, and film, Gala has developed an advanced layer-1 blockchain known as GalaChain. Featuring all the empowering attributes of the world’s leading blockchains, GalaChain fosters a sustainable web3 ecosystem with significant growth potential while progressively reducing its reliance on centralized systems as it expands. 2. **Developer Friendly** - Gala has invested considerable resources and effort into creating a chain that is user-friendly and more accessible for external development. Utilizing tools like the open-source GalaChain SDK and the streamlined Gala Creator Portal, innovators and developers can easily bring their projects to fruition on GalaChain. 3. **Decentralized** - GalaChain is supported by numerous independent node networks, centered around the Gala Founder’s Node network (which comprises 50,000 total Founder’s Nodes). All new $GALA tokens entering circulation do so through daily distributions to active Founder’s Node operators, incentivizing community members to contribute computing power to the Gala ecosystem. Additional node networks such as game-specific nodes, Gala Music’s Jukebox Nodes, and Gala Film’s Theater Nodes handle project-specific computational needs while providing unique rewards to operators. 4. **No ICO** - Gala was established with a vision of decentralization and user empowerment, rather than through a funding round or ICO. This approach made the company particularly distinctive during the ICO surge that resulted in many early web3 companies leaving their supporters with worthless tokens. Gala has been funded exclusively through the sale of products like Founder’s Node licenses and NFTs from both upcoming and already active games, such as its flagship game, Town Star (now known as Common Ground World). 5. **Burning Tokens** - When $GALA is utilized as gas within the ecosystem, it is burned (although totalSupply remains unchanged, maxSupply is unaffected). Additionally, $GALA is burned through specific purchases and other ecosystem-supportive actions. More information can be found in the Gala Ecosystem Blueprint. 6. **Adaptability** - Gala is dedicated to keeping pace with the speed of web3, expanding and developing solutions as new challenges emerge. These expansions extend beyond the development of GalaChain as a long-term answer to include strategic partnerships with various crypto exchanges and navigation of the continuously evolving landscape of crypto regulation across numerous countries worldwide.

The maximum supply of $GALA tokens is capped at 50 billion, with the daily emission rate being dynamically adjusted based on the circulating supply. The circulating supply can decrease when $GALA is utilized as gas within the Gala ecosystem or during activities that support the ecosystem, resulting in token burns. All $GALA tokens are initially generated as rewards for operating Gala Games Founder’s Nodes. The reward structure currently ensures an equal distribution, with a 50:50 split between Founder's Node Operators and the Conservatorial Entity. Gala, acting as the Conservatorial Entity, receives part of the distribution for its efforts in curating and maintaining the platform. The emission rate of $GALA is determined by a variable daily emission formula that considers the total supply on the blockchain. As the total supply increases (indicating that more $GALA is emitted than burned), the emission rate is reduced. Conversely, upon reaching specific total supply milestones, an automatic halving event occurs. If the total supply falls below a previously attained halving point, the emission rate may be adjusted upwards to meet demand. This interaction between emission rate adjustment and total supply reduction forms a dynamic and responsive supply system. This system not only ensures long-term rewards for the Founder’s Nodes, which are crucial to ecosystem support but also applies a balancing effect on the total supply, thereby exerting downward pressure on the token quantity in circulation. The basic $GALA emission tranches are outlined below: - Total Supply ≤ 25,000,000,000 = 68,493,150.6849315 $GALA distributed daily - Total Supply ≤ 37,500,000,000 = 34,246,575.3424658 $GALA distributed daily - Total Supply ≤ 43,750,000,000 = 17,123,287.6712329 $GALA distributed daily - Total Supply ≤ 46,875,000,000 = 8,561,643.83561644 $GALA distributed daily - Total Supply ≤ 48,437,500,000 = 4,280,821.91780822 $GALA distributed daily - Total Supply ≤ 49,218,750,000 = 2,140,410.95890411 $GALA distributed daily - Total Supply ≤ 49,609,375,000 = 1,070,205.47945205 $GALA distributed daily - etc. Further detailed information on the $GALA token can be found in the Gala Ecosystem Blueprint (PDF).

According to the auditor CertiK, $GALA is regarded as the most secure altcoin globally, holding the number 3 position on the leaderboard, with BTC and ETH occupying the first and second spots respectively. The $GALA token utilizes a Gnosis multisig safe, a secure framework that ensures no single team member can access the system unilaterally. This arrangement strengthens the principle of collective oversight and significantly enhances operational security. Moreover, $GALA is dedicated to upholding the highest standards of governance and compliance. Gala also collaborates actively with several respected international accounting and regulatory agencies to ensure that $GALA consistently adheres to internationally recognized best practices. Following an extensive audit, $GALA has been awarded a Gold badge and AAA rating by CertiK, a leading security-focused ranking platform that analyzes and monitors blockchain protocols and DeFi projects.

The Ethereum-based $GALA token is available on numerous private exchanges worldwide, as well as various decentralized exchanges. A comprehensive list can be found under the “Markets” tab on Eulerpool. While $GALA is actively traded in significant volumes across multiple exchanges via its Ethereum contract, the primary utility of the token resides on GalaChain. Here, $GALA is initially issued as rewards for Founder's Node operators and can be seamlessly bridged to Ethereum for trading purposes. Within GalaChain, $GALA can be traded using the ecosystem's decentralized exchange protocol, GalaSwap.