We are happy to inform you that BitOasis will be supporting the upcoming upgrade of the GALA token to GALA v2, currently scheduled to take place on Monday, May 15, 2023. As part of the upgrade process, GALA tokens currently held by BitOasis users will be automatically converted to GALA v2. Deposits and withdrawals will be paused for GALA during the update and users will be able to withdraw and deposit their GALA tokens after the upgrade process has concluded. Please note that following the upgrade, v1 of GALA will no longer be supported. Read on for the key details.
What should you do?
You don’t need to take any action. Deposits and withdrawals of GALA will be stopped prior to and during the upgrade and will be re-enabled once the upgrade process concludes. Trading GALA will not be affected by the upgrade and will continue as usual.
We will of course give continuous updates to our GALA holders, so keep an eye on notifications in the BitOasis app.
Once the upgrade is complete, your old GALA tokens will be replaced with new ones, and you will get the exact same amount you had of the old token. The new token will be available for deposits and withdrawals after the completion of the upgrade and will have the same name (Gala) and the same ticker (GALA) on BitOasis.
If you want to keep your old GALA tokens for any reason, please make sure to move them to an external wallet before the upgrade. Please note that GALA v1 will no longer be supported following the upgrade.
What is the GALA V2 Upgrade?
On May 15, 2023, the Gala token smart contract, hosted on the Ethereum blockchain, will be updated and the GALA v2 will be launched. The new upgrade is meant to bring “a host of improvements to the table, including enhanced burn mechanisms, security enhancements, and future upgradeability” as per the Gala team.
The new token will be airdropped to the Ethereum addresses of the holders of GALA at the time of the launch. You can read more details about the upcoming upgrade in this blog post by the Gala Games team.