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GALA, the native token of blockchain gaming platform Gala Games, jumped higher on April 18 after the news of the GALA v2 upgrade surfaced online.
Gala jumped from lows of $0.043 to reach highs of $0.049 at the time of writing. GALA was up 15% in the last 24 hours at $0.048. The token is likewise up 15.36% in the last seven days.
GALA's 24-hour trading volume has also soared 133% as traders jumped into the market volatility to capture profits.
GALA v2 upgrade
Gala Games has announced the upcoming launch of GALA v2 on May 15. This upgrade will see users receive a new version of Gala tokens (V2) via an airdrop.
The upgrade to the Ethereum contract for the Gala token is expected to include several advancements, such as improved burn mechanisms, security upgrades and future upgradeability.
Additionally, a direct 1:1 token drop will see all users who now own GALA (v1) on Ethereum automatically receive the new GALA (v2) token. Gala (v1) will no longer be supported following this drop because it will not have any value after the release of the Gala v2 token.
Before the snapshot on May 15, users are recommended to remove their Gala tokens from any liquidity pools or smart contracts, as tokens that were airdropped to these contracts might not be recoverable.
To be able to get their drops, users are advised to keep their GALA tokens in a personal wallet. As the May 15 transition draws near, the Gala Games team promises to keep users updated with frequent updates and announcements.