BitWell Institute – Gala Games (GALA) Project Analysis

1.A short review of the institute

Gala is not simply a gaming platform, but is making an ecology. The future planning is decentralized, in line with the definition of blockchain circle. Vox and nodes are with long-term ecological effect, and Gala’s nodes and consensus mechanism are more open and transparent, from the evolution of consensus mechanism, we can see the long-term planning of gala, at the beginning, we use poa/pos to attract users to build the ecology, and later, we use pow and pos to stabilize and develop the ecology, which can let people see the serverless future of gala.

2.Project introduction

Gala Games aims to give players back control of their games and take the gaming industry onto a very different path, with the mission of making “blockchain games that players actually want to play”. Today, players often spend hundreds of dollars on in-game assets and countless hours in the game, but only at the click of a button, all that money and effort goes down the drain, and this project is aiming to change that. The developers plan to bring creative thinking back into the game by using powerful blockchain technology to give players control over the game and its assets.

Players can own non-homogenised tokens (NFTs) and participate in the governance of the game within the Gala Games ecosystem. The Founder’s Nodes voting mechanism allows players to provide suggestions on which games Gala should develop and which games should be funded. In addition to enabling players to purchase NFTs in selected games, Gala Games also uses a utility token it has developed – GALA. Gala Games has now released a full-fledged game-TownStar, as well as Gala Games plans to release more games in the future, including a fantasy role-playing game, a sci-fi strategy game and a tower defence game.

Since its launch in 2019, GalaGames has grown to 1.3 million monthly active users and has sold 26,000 NFTs, the most expensive of which is worth $3 million.

3.The role of tokens

GALA is the platform’s native functional token and is used for the following functions:

  • In-game currency: Users are able to purchase in-game items and NFTs in the official Gala shop, as well as by playing games on the Gala platform.
  • Node incentive: In return for running nodes on the Gala network, GALA tokens are awarded to Gala node operators.

4.Token allocation

The total amount of GALA tokens is capped at 50 billion and no token sales are currently taking place. tokens are produced daily through node mining, with production halved in July each year as follows.

  • 2019/7/22 – 2020/7/21: 68,493,150 per day GALA
  • 2020/7/22 – 2021/7/21: 34,246,575 per day GALA
  • 2021/7/22 – 2022/7/21: 17,123,287 GALA per day
  • ……

produces 17,123,287 GALA per day in the current phase, 25% of which is distributed to nodes in proportion to the number of points each node has in the network on that day.

It is important to note that the GALA tokens distributed to nodes will not be sent directly to their on-chain wallets, but will need to be manually minted and collected by nodes at any time in their Gala Games platform accounts. This means that according to the output rules, over 30 billion GALAs have been produced, but not as many have actually been circulated, excluding those that have not been minted and collected. According to CoinMarketCap, the current amount in circulation is approximately 6.98 billion GALA.

5.Investment Institutions

Flare, Mazer Gaming, Biture, Brave, Polygon.

6.Basic information

Token name: GALA

Project website: https://gala.games

Block query: https://bscscan.com/token/0x7ddee176f665cd201f93eede625770e2fd911990