BaggMan 301

Today's $GALA Rant TLDR: GalaChain ROCKS! Last week's hackathon went fantastically, and it gave me a massive amount of interaction with both the community and people who are less familiar with what is happening within the $GALA ecosystem. One of the key takeaways is that people still thinK $GALA is just a gaming token tied to a few games...the reality is that it is much bigger than that. How? Here are three ways just for today: $GALA is the “Daddy of #dePIN” - the Gala Community is the single largest contributor to the IPFS DHT network by a long shot, and critically important to decentralization of storage online. GalaChain represents, by far, the easiest to integrate Blockchain within the whole industry. In the future, #GalaChain should be the environment of choice for building. No solidity! Typescript is the 4th most popular language out there! This is the best way to onboard developers. Node on the Gala Platform can be used as a way to fair-launch tokens with decentralized processes, and make your launch what launches should have been from the beginning. To back this up, most of the hackathon participants had not touched the GalaChain SDK prior to joining. However, most of them were familiar with Solidity, which is required to build on any EVM based chain. All around, they said that building on #GalaChain was MUCH easier. For a 24 hour hackathon, we got some great results with some pretty deep blockchain integration from some of the participants. This week, another six companies have signed up to build on #GalaChain. Each one of them is going to be using the whole $GALA ecosystem, with a special emphasis on the node infrastructure. Right now, we are giving them access to channels and letting them build, but in the near future, companies will be able to show up, burn some $GALA to secure a channel, and then get right to building. They will be able to leverage node workloads to redefine their businesses, increase revenue, and decrease costs. ALPHA ALERT!: Within the next week or so, people will also be able to burn $GALA to reserve their names within the ecosystem. These names, currently only usable within the GalaChain ecosystem, will make it easier to transact with your fellow users. How nice would it be to be able to send $GALA or an in-game NFT based on just a name, rather than a complex address. There are other things coming in pretty hot, and I can’t wait to share them with you! I am going to try to keep up a big post every day this week here! You can also expect to see updated blueprints for both the whole $GALA ecosystem, as well as an updated $MUSIC whitepaper. Tons more coming! The #GALAHORDE is strong!

FRIYAY Thread, NOW WITH MORE ALPHA! Since #DEX tokens like $UNI and $1INCH are popping off today, let's talk about exchanges and trading. I know this is a topic I have almost never touched, but I want to get it out there because I know the community cares about it. ALPHA ALERT: Next week, #GalaSwap, a decentralized platform, will be available on #GalaChain. I THINK it will be on Tuesday. I have not gotten permission to share this from our marketing people, so just pretend you didn’t see this. I want to take a few minutes to talk about the fundamental economics of on-chain trading. Here are some trades… I swapped $100 in $USDC for $GALA on Uniswap, and that cost me $42 in ETH gas fees (holy fuck ETH, cool it) Swapping $100 in $USDC for $GALA on Binance, and that costS a taker fee of .1%, or ten cents) I swapped $100 in $USDC for $GALA on GalaChain using #GalaSwap and it cost me 1 $GALA burned (roughly 3 cents) One of these things is better than the other. The cool thing about GalaSwap and GalaChain in general is that we plan to offer CEX-level trades and near-instant finality with everything actually happening on chain. Our plan is to set the fee for both the maker and taker side of the equation at a 1 $GALA burn - for any trade of any size. The long-term plan is to allow the maker side of the equation to get a discount for the amount of $GALA they have locked in the order book to incentivize liquidity building. While v1 is a bit on the simple side, v2 is planned to have API access that will allow market makers to access GalaSwap - anyone who wants to trade will be able to do so with a flat 1 $GALA burn per trade…no matter the size. Want to trade $100? Awesome… burn 1 $GALA. Want to trade $10,000,000? Cool… burn 1 $GALA. We can do this because we aren’t in the exchange business and we have no interest of being in the exchange business. This is about providing functionality to the whole $GALA ecosystem. Any ERC-20 token based on ETH can be bridged in and traded on GalaSwap for a 1 $GALA burn. Right now, new token integrations are manual, but the plan is that they become automatic by v3, opening up GalaSwap for traders of anything from stables to memecoins. Each address connecting to GalaSwap (or the Gala Platform) is screened by @chainalysis to make sure that there are no sketchy funds hitting the bridge. We have been saying for a long time that… $GALA is more than a #web3gaming token. $GALA is more than a #L1 token. $GALA is more than a #dePIN token. $GALA is about building a whole ecosystem that can fundamentally redefine the role of crypto in our lives. It is about to get very interesting.