Galxe: The portal for migrating GAL to G token will open on July 9.

ChainCatcher message, Galxe announced on social media that the Galxe (GAL) token will migrate to Gravity (G) to unify and optimize the experience across the two ecosystems.

G is the native token of Gravity, supporting both the Gravity and Galxe ecosystems. G serves as the gas token for transactions on Gravity, will secure the network through staking, and acts as a utility token within the Galxe product suite. As the primary utility token across the two ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.

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

After the on-chain migration is completed, existing GAL tokens will be burned, and new G tokens will be sent to users' wallets at a ratio of 1:60. If users do not migrate GAL, they can still retain their GAL. However, the existing functionalities of GAL will fully transition to G.

The migration portal will be open to all users on July 9, 2024, and will remain online for at least one year to ensure that GAL holders have sufficient time to complete the process.