GALA/INR: Convert Gala V1 (GALA) to Indian Rupee (INR)

Gala V1, also known as GALA, is the official ecosystem token of the Gala web3 ecosystem. This ecosystem is powered by a layer-1 blockchain, GalaChain, which was initially designed to support the Gala entertainment ecosystem, including Gala Games, Gala Music, and Gala Film. However, GalaChain has since expanded to welcome external developers and projects from various industries, providing open-source resources to simplify the development process. GALA serves primarily as a utility and gas token for transactions on the blockchain. The core of GalaChain is powered by its DePIN (Decentralized Physical Infrastructure Network) of Founder’s Nodes, whose operators earn daily GALA rewards for actively providing resources to the ecosystem.

Gala V1 operates on the GalaChain, a layer-1 blockchain that powers the Gala ecosystem. Developers can use the GalaChain SDK and Creator Portal to create custom tokens, smart contracts, reward opportunities, and node networks for their communities and projects. The GalaChain is powered by many independent node networks, with the Gala Founder’s Node network at their core. All new GALA entering circulation is distributed daily to active Founder’s Node operators, incentivizing community members to provide computing power to the Gala ecosystem. When GALA is used as gas in the ecosystem, it is burned, reducing the circulating supply.

Gala V1 aims to empower users and creators across multiple industries throughout the world. By leveraging open-source tools like the GalaChain SDK and Creator Portal, developers can extend the benefits of web3 to their users and communities. They can create custom tokens, smart contracts, reward opportunities, and node networks for their communities and projects. Assets built on GalaChain can also be bridged to other blockchains, such as Ethereum and Binance Smart Chain. Furthermore, GALA serves as a utility and gas token for transactions on the blockchain, and is also used as a reward for Founder’s Node operators.

Gala V1 was founded in 2019 by Zynga co-founder Eric Schiermeyer, a leader in the development of social and blockchain gaming. The San Francisco-based company has over 350 full-time employees as of early 2024. Gala V1 was unique in that it did not execute an ICO or other initial issuance event for the GALA token. Instead, new GALA entering the circulating supply is issued exclusively to Founder’s Node operators as rewards for powering the decentralized ecosystem. The company has put extensive resources and development toward building a chain that’s easier to use and more accessible for external development, making it a key player in the web3 world.