On November 21st, Gala Games announced a new lottery-style game with a weekly community drawing to win $GALA.
The game’s progressive prize pool consists of a portion of all $GALA burned throughout each contest period, as well as any $GALA injected into the prize pool at the GalaChain team’s discretion.
Ticket owners have until the drawing time to activate their tickets by paying a fee of 10 burned $GALA and picking 8 unique numbers between 1 and 100. In the weekly drawing, 8 numbers will be chosen through a provably fair RNG system and players will win $GALA and additional tickets based on how many numbers they were able to match.
Each week’s Epic Gala Sweepstakes drawing will take place on Wednesday at 12 PM PT. Supporting a Healthy $GALA Ecosystem
A crucial piece of $GALA’s expertly balanced economy is the way the token’s supply is self-managed through distribution and burns (described in greater detail in the GalaChain Ecosystem Blueprint, released in early 2024).
$GALA enters circulation when it is distributed to Founder’s Node operators as a reward for powering the decentralized GalaChain ecosystem.
$GALA is burned when used as transaction fees throughout the blockchain, or when used to purchase certain 1st party digital items from Gala Games, Gala Music, and Gala Film. Here are some examples of $GALA burns for ecosystem health:
Essentially, this new Sweepstakes gamifies GalaChain’s most important ecosystem-supporting activity: Burning $GALA. The object of the Sweepstakes game is to burn as much $GALA as possible to maximize each player’s chances to win.
Prizes
Gala Games of Chance
While at first glance the Mega Gala Sweepstakes plan may seem like a simple one, it actually represents a major step in the creation of a decentralized Random Number Generator (RNG) system, built on GalaChain and powered by Gala Founder’s Nodes.
While the complete system will not be completed and deployed until several prize drawings have already been completed, it will ultimately create a provably fair and transparent, verifiable tool that could be used by GalaChain creators in numerous ways.
Development of this system is especially important as the Hyperledger Fabric-based GalaChain moves toward total decentralization as outlined in the recently released Decentralization White Paper. A decentralized RNG system is the next in a growing lineup of streamlined tools offered to make GalaChain development a smooth and simple web3 onboarding experience for traditional developers.
GalaChain and Bitrue
Global crypto exchange Bitrue recently announced its live integration of GalaChain, allowing users to deposit, trade, and withdraw GalaChain-based $GALA, in addition to the Ethereum-based $GALA that was already offered through several trading pairs on that platform.
Numerous Bitrue users who trade $GALA now have an easier way than ever to transfer their tokens to their free Gala Games account and start participating in the GalaChain ecosystem.
Gala Games anticipates a flood of new interest, especially from Bitrue users as they discover the weekly opportunity to collect Sweepstakes tickets for simply participating in the $GALA burns that come with many forms of ecosystem activity.
“5 Key Takeaways from Bitrue’s Gala AMA” – 11/18/24, Bitrue blog
“Bitrue Integrates GalaChain main net for simplified trading” – 11/13/24, Gala blog
“GalaChain now integrated with Bitrue for direct GALA trading” – 11/19 Crypto News Flash
In the wake of such a milestone announcement for ease of access to tokens on GalaChain, Gala Games is excited to unveil the new Sweepstakes plan to encourage and gamify $GALA burns for a more balanced and sustainable token economy.