GAL token migration

One token, two ecosystems. With the approval of proposals GP-25 and GP-30 by the Galxe DAO community, we’re migrating the Galxe (GAL) token to Gravity (G), unifying and streamlining the experience across both ecosystems. This upgrade focuses on enhancing the user journey, integrating the token seamlessly across our Layer 1 and the Galxe ecosystem, and simplifying the ticker for easier recognition. G will serve as the universal token, providing utility in governance, transactions, and incentives across the entire ecosystem.

As we transition from Galxe (GAL) to Gravity (G), we aim to make this process as effortless as possible for you. Here is what to expect:

• Self-Custodial Wallet: If you hold GAL in your personal wallet (e.g. MetaMask) on Ethereum or BNB Chain, there will be an official migration portal for you to complete the migration. Upon submission, your existing GAL tokens will be burned, and you will receive G at a ratio of 1:60 on the same chain. For example, if you migrate 100 GAL on the Ethereum network, you will receive 6.000 G on the Ethereum network. Depending on which network you are holding your GAL (Ethereum or BNB Chain), a gas fee will be required to complete the migration process on the Migration Portal.
• CEX (Spot): We are working directly with supported centralized exchanges (CEXs) to ensure any GAL in your wallet is automatically migrated to G. This means you don’t need to perform any manual migration for your GAL on supported CEXs. A full list of supported CEXs will be provided at a later date. As a precaution, please check with your CEX for specific details. If you are unsure whether your CEX will perform the migration, you can opt to withdraw your GAL onchain and perform a manual migration on the migration portal.
• CEX (Derivatives): If you have open derivatives positions (including perpetual swaps, options, and futures), please check with your CEX on the details of the migration process, as Galxe is not responsible for this procedure.
• GAL Staking: All GAL staked on our GAL Staking platform will be converted to G automatically after July 9th, 2024. and no action is required from stakers.
• Staking/Lending Platforms (Other than Galxe): If you have GAL staked or lent on any platforms other than Galxe, you will need to cancel the staking/lending to perform a manual migration from GAL to G. This migration can be completed on the migration portal.

Upon completing the onchain migration, your existing GAL tokens will be burned, and the new G tokens will be swapped to G at a ratio of 1 GAL = 60 G. If you do not see the G tokens in your wallet after completing the migration process, you can add G as a custom ERC-20 token to your wallet on Ethereum or BNB Chain using the contract address: 0x9C7BEBa8F6eF6643aBd725e45a4E8387eF260649.

The migration portal will be available to all users on July 9th, 2024. and will remain live for at least one year to ensure GAL holders have sufficient time to complete this process.

G contract address：

• https://bscscan.com/token/0x9C7BEBa8F6eF6643aBd725e45a4E8387eF260649
• https://etherscan.io/token/0x9C7BEBa8F6eF6643aBd725e45a4E8387eF260649

official announcement：

• https://blog.galxe.com/introducing-g-one-token-two-ecosystems-306fee047256