Galxe just announced their Layer 1 Blockchain, "Gravity".
Additionally, there is a proposal for the launch of a new native token, G.
There is a high chance of the proposal being passed.
If passed here is how the transition will work:
- GAL will be converted to G on a 1:60 ratio.
- So, the total supply of the new token will be 12B.
Utilities of the new token:
- Utility token for Galxe quests
- Governance
- Staking
- Payment token
- Gas token for the new blockchain
- Proof of Stake to secure the chain.
Here is all you need to know about the new blockchain:
• It's an Omnichain layer 1.
• Uses ZK Proofs, a unique consensus mechanism, and an architecture powered by staking.
Some of the features:
‣ EVM Compatible
‣ Supports Cross-Chain Transactions
‣ High-Performance Execution
‣ Proof of Stake Mechanism (powered by both staking and restaking)
https://x.com/its_airdrop/status/1796212730698850512
