Crypto Gaming Firm Gala Launches GalaSwap Exchange With Token Rewards

by Axel Orn

Blockchain gaming and entertainment agency Gala (aka Gala Video games) announced Tuesday that it has launched GalaSwap, a recent decentralized substitute (DEX) built on the agency’s beget proprietary network, GalaChain.

Gala claims that the DEX can address upwards of 2 million transactions per 2d as a result of the layer-1 chain’s horizontal scaling plan, with some 43,000 user-operated nodes for the time being supporting the network. The agency additionally claims decrease charges than decentralized exchanges on traditional cause chains treasure Ethereum and Solana.

“For an awfully very long time blockchain has wanted a plan for folk to change charge trustlessly and at scale. Centralized exchanges help this purpose in some regard, nonetheless GalaSwap will empower users as they navigate a sooner and more fluid atmosphere,” Gala President of Blockchain Jason Brink educated Decrypt’s GG.

The substitute for the time being helps trading between Ethereum-primarily primarily based tokens within the Gala ecosystem. An upcoming update will introduce trading for NFTs, starting with Gala’s beget NFTs earlier than expanding with broader compatibility.

GalaSwap objectives to steal adoption of the DEX and its honest these days launched chain with the addition of token rewards. Users can compose GalaSwap tokens with each substitute on the substitute, plus a referral model permits additional earnings alternatives.

Brink added that reward tokens can help “fabricate conducting your everyday substitute a rewarding skills for users at any scale, from the usual user making a couple trades to easiest-in-class market makers making millions of transactions.”

The #GalaSwap system is in accordance to an on-chain deliver guide, noteworthy treasure a CEX nonetheless truly on chain. You glean a idea a lot like liquidity pools, nonetheless it is a ways more tightly managed…you accept a ticket and swap or you don’t. There is now not the native idea of slippage at…

— Jason Brink aka BitBender (@BitBenderBrink) February 26, 2024

Gala is the agency in the help of such video games as Champions Arena, Legacy, and Spider Tanks. The agency additionally has launched movie and song divisions because it broadens its total Web3 entertainment scope. Gala launched its GalaChain machine model kit (SDK) on the launch of February to onboard a good deal of builders onto its recent layer-1 network.

Worship most crypto gaming tokens, GALA is up substantially in recent weeks. At a recent ticket of $0.033, per CoinGecko, GALA has jumped 45% in the final 30 days by myself.

Editor’s demonstrate: This text used to be written with the help of AI. Edited and reality-checked by Andrew Hayward.

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