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Gala, a leading Web3 entertainment company, has launched GalaSwap, a decentralized exchange (DEX) built on its own blockchain, GalaChain. GalaSwap aims to provide a fast, affordable, and user-friendly platform for trading tokens on GalaChain, as well as fostering a community-driven ecosystem.

What is GalaSwap?

GalaSwap is a DEX that allows users to exchange tokens peer-to-peer on GalaChain, a blockchain network that supports over 43,000 secure nodes and can process up to 2 million transactions per second. GalaSwap is designed to be compatible with all GalaChain-based tokens, as well as some Ethereum-based assets. GalaSwap also rewards users for their participation, by giving them GalaSwap tokens for every trade they make, and by offering a referral program that incentivizes community growth.

What are the benefits of GalaSwap?

GalaSwap offers several advantages over traditional DEXs, such as:

• Speed: GalaSwap leverages the high-performance and scalability of GalaChain, which enables fast and smooth transactions, without the congestion and delays that often plague other networks.
• Affordability: GalaSwap charges very low fees compared to other DEXs, especially those on Ethereum and Solana. The gas fee for every transaction on GalaSwap is fixed at one $GALA, the native token of GalaChain, which makes trading more cost-effective and predictable for users.

• User ownership: GalaSwap empowers users to have true ownership and control over their assets and data, as well as to influence the development and direction of the Gala ecosystem. GalaSwap is committed to transparency and openness, and plans to make its platform entirely open source in the future. This will allow users to contribute to the improvement and innovation of GalaSwap, as well as to audit and verify its code and operations.
• Token diversity: GalaSwap supports a variety of tokens within the Gala ecosystem, such as $ETIME, $MIR, $SPIDER, and $TOWN. These tokens are associated with different games and projects that Gala is developing or partnering with, such as Echoes of Empire, Mirandus, Spider Tank, and Town Star. GalaSwap also supports some Ethereum-based tokens, such as $USDC, $DAI, $LINK, and $UNI. In the upcoming Version 2 update, GalaSwap will also enable trading for non-fungible tokens (NFTs), starting with Gala-specific NFTs and expanding to other NFTs in the future.

How to use GalaSwap?

GalaSwap is easy to use, and only requires a few steps to start trading:

• Connect your wallet: You can connect your Gala wallet or your MetaMask wallet to GalaSwap, by clicking on the “Connect Wallet” button on the top right corner of the website. You will need to approve the connection request on your wallet.
• Select your tokens: You can choose the tokens you want to swap from the drop-down menus on the main page. You can also enter the amount of tokens you want to swap, or click on the “Max” button to swap the maximum amount available in your wallet.
• Review and confirm your swap: You can see the details of your swap, such as the exchange rate, the slippage tolerance, and the gas fee, on the right side of the page. You can also adjust the slippage tolerance and the gas fee according to your preference. Once you are satisfied with the swap details, you can click on the “Swap” button to initiate the transaction. You will need to confirm the transaction on your wallet, and wait for it to be processed on GalaChain.
• Receive your tokens: After the transaction is confirmed, you will receive the swapped tokens in your wallet. You can also view the transaction details on GalaScan, the block explorer for GalaChain.

What is next for GalaSwap?

GalaSwap is constantly evolving and improving, with new features and updates planned for the near future. Some of the upcoming features include:

• Liquidity pools: GalaSwap will introduce liquidity pools, which are pools of tokens that provide liquidity for trading on the platform. Users will be able to add their tokens to the liquidity pools, and earn fees and rewards for doing so.
• Cross-channel swaps: GalaSwap will enable cross-channel swaps, which are swaps between tokens that are on different channels of GalaChain. For example, users will be able to swap $MUSIC, which is on a separate channel of GalaChain, with other tokens on GalaSwap.
• API calls and developer documentation: GalaSwap will provide API calls and developer documentation, which will allow developers to integrate and interact with GalaSwap, as well as to create their own applications and services on GalaChain.
• Additional tokens and reward token: GalaSwap will support more tokens, both from GalaChain and other blockchains, to offer more trading options and opportunities for users. GalaSwap will also introduce a reward token, which will be given to users for using GalaSwap and providing liquidity.

GalaSwap is a revolutionary DEX that leverages the power and potential of GalaChain, to provide a fast, affordable, and user-friendly platform for trading tokens on GalaChain. GalaSwap also fosters a community-driven ecosystem, where users have true ownership and influence over their assets and the Gala network. GalaSwap is poised to become a leading DEX in the Web3 entertainment space, and a key component of the Gala vision.