Galxe announces that the GAL to G token migration portal will be open on July 9

BlockBeats news, on July 4, Galxe officials said that the Galxe (GAL) token will be migrated to Gravity (G) to unify and optimize the experience across the two ecosystems.

G is the native token of Gravity and the utility token of the Gravity and Galxe ecosystems. G drives transactions as a Gas token and will soon secure the network through staking. As the main utility token across the two ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.

G tokens will be the native token of the Gravity Alpha mainnet and exist as ERC20 tokens on Ethereum, BNB Chain, and Base. The initial total supply is 12,000,000,000.

After the on-chain migration is completed, users' existing GAL tokens will be destroyed and new G tokens will be sent to their wallets at a ratio of 1:60. The migration portal will be available to all users on July 9, 2024, and will remain online for at least one year to ensure GAL holders have adequate time to complete the process.