Zeepin released an article that highlights the passive distribution of GALA tokens to ZPT token holders. GALA distribution can be claimed through the ZeeWallet. The Zeepin platform aims to provide a suite of decentralized applications (dApps) that will assist creators with common issues surrounding intellectual property rights, insurance, staffing, project management, crowdfunding, and monetization. To begin claiming GALA, users will first need to convert their NEP-5 tokens to MainNet ZPT tokens, which NEO News Today recently covered.
GALA will be the utility token that powers the Zeepin ecosystem, which includes smart contract deployment, network consumption fees, transaction fees, CryptoGalaxy activities, dApp processes, and GalaCloud interactions.
There will be a total 100 billion supply of GALA tokens, which will be distributed as follows:
- 50% – Zeepin Foundation
- 30% – Community Development
- 18% – GALA Unlock
- 2% – Airdrop (already completed)
Much like GAS is distributed on the NEO blockchain, ZPT transactions on the Zeepin MainNet will trigger GALA to unlock. The “GALA Claim” function on the ZeeWallet will allow users to obtain their uncollected GALA tokens.
For users who have earned GALA through Zeepin’s CryptoGalaxy, their GALA will be unlocked and distributed to their in-game wallet address. After CryptoGalaxy v1.7 is released, users will receive their unlocked GALA via smart contract.
For users who have earned GALA through GalaHub or GalaBox campaigns, they will receive their GALA once the lock-up period has ended.
The GALA unlock was designed to occur on a yearly basis in a manner that emulates the Fibonacci sequence. This method was chosen to incentivize early adoption, as 31.18% of all GALA will be unlocked in the first two years, and 50.46% of total GALA supply unlocked within the first 4 years.
The full article can be read at the below link:
https://medium.com/@zeepin/gala-unlocking-mechanism-passive-income-for-zpt-holders-ee42d94d7747
For more information about Zeepin visit the links below.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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