All remaining 4.4 billion $GALA from the exploiter's wallet has been burnt🙏
This was conducted to remove the wrongly minted $GALA, we also recovered all the ETH and used it on GalaSwap to buy back and burn close to another billion $GALA
View below🔽
https://t.co/g3PcrgJOEx
There have been some people complaining that the @poweredbygala team didn't burn the $GALA purchased using the $ETH the malicious actor sent back.
Fortunately, there are receipts.
Here are all of the burns so far:
https://t.co/o9c9WF2akM - 348m $GALA burned
https://t.co/0VHCo0yHOh - 421m $GALA burned
https://t.co/GUgTqPhkxO - 20m $GALA burned
https://t.co/dcvNzMKJU1 - 10m $GALA burned
https://t.co/Sse5py43cP - 7.4m $GALA burned
https://t.co/RSVQAsTdBr - 6m $GALA burned
https://t.co/0h9ZUyFEwu - 10m $GALA burned
That is 822.4m $GALA for those who don't want to do the math themselves.
This was all $GALA purchased on #GalaSwap from the community (some of which arbed the hell out of it).
That is ~150m MORE than the malicious actor was able to sell. That is more that goes to the Founders Nodes in the long term.
People will ALWAYS make their own little bullshit narratives, but the burns happened, whether they care to admit that or not.
Hey Everyone...
I always knew there was a reason I never talk shit about other projects getting hacked...I'm sorry to say we had an incident that resulted in the unauthorized SALE of 600million (21million usd) $GALA tokens and the effective BURN of 4.4 billion tokens.
We identified the compromise and within 45 minutes we secured and removed unauthorized access to the $GALA contract.
It's important to note our ETH contract for $GALA is secure and under the protection of a multi-sig wallet. It was never compromised.
We messed up our internal controls...This shouldn't have happened and we are taking steps to ensure it doesn't ever again.
We believe we have identified the culprit and we are currently working with the FBI, DOJ and a network of international authorities.
There is the issue of our daily distribution...we will be having a node vote on how to handle this issue. As usual the community will decide how we proceed.
Can’t stop…won’t stop! Moving on to bigger and better things.
#GALA
🔴RED DOT !!
Accumulation phase has ended: no more easy buying opportunities in orderly and slowly increasing markets.
Bull market has started. If history is any guide, we will see ~10 months of face melting fomo: extreme price pumps combined with multiple -30% drops. Enjoy!🚀
Monday morning...feels like another thread morning...
I am sitting in the airport drinking coffee, getting ready to head into the office for the week...
What do you want to know about?
The #GalaChain ecosystem enters a new era✨
Introducing #GalaSwap your gateway to secure, peer-to-peer token trading on GalaChain.
7 tokens are live including $GALA $MTRM $SILK $USDT $GWETH and others.
Start swapping on GalaSwap♻️
https://t.co/QYRzWv8U1I
$GALA Founder's Nodes make up a HUGE 🤯 portion of the decentralized internet and IPFS. What is IPFS you ask?
We dive into this protocol and share how much is @poweredbygala 👉
https://t.co/tjiv6r49ZO
#BlockchainInnovation
⭐️ The Ultimate Tokenomics Exploration 📡
Like & Share this cheat sheet to make everyone understand the true tokenomics data.
🔥$GALA is a gas token which is burned for every transaction on their L1 blockchain #GalaChain with currently finished 34 250 000 transactions.
🔋Maximum Supply: 50 000 000 000
💰Current Supply: ~30 000 000 000
🧾Current MCap: ~$600 000 000
🌴On-chain TVL: ~$60 000 000
💸Daily Issuance: ~34 000 000 | 50% to F. Nodes & 50% to Gala
⚔️On-chain team’s reserve: 2 000 000 000
❌$GALA has no staking
⚖️Halving is based on number of created $GALA. Expect next halving in 3Q 2024.
🏗️$GALA is issued as a Founders Node Treasure Chest "Allowance". Once this $GALA Allowance is minted, it becomes on-chain.
⚙️Maximum number of F. Nodes: 50 000
⛓️Currently >30 000 F. Nodes online daily | 680-700 $GALA per Node
✅42 000 F. Nodes is sold
🐳14 000 owned by founders and most of them went offline
✨F. Nodes is going to be NFTs this year.
@GoGalaGames #L1 #Tokenomics
Like it & share it if you want people understand.
▶️ YouTube #AMA Rewards Distribution 🎁
🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹
✔️ Yesterday, All of the prizes got distributed among top selected winners of our #YouTube AMA with @XTexchange ! 🎉 Congrats new & old fellows 🤩
🎁 Prize List (for each winner):
🏗 Buildings:
Barracks L5 ; CLEG Mine L5; Stone Mine L4; Iron Mine L4
🏖 NFT Lands:
5x Common land; 5x Uncommon land; 5x Rare land; 1x Legendary land
🦸🏻♂️ #NFT Heroes:
2x Warrior; 2x Archer; 2x Guardian; 2x Knight; 2x Mage; 2x Catapult
🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹🔹
🔹 If you missed the the AMA, you can still watch it with the link below 👇
▶️ https://t.co/QiRNMO2zJK