According to Odaily, the Gala community has initiated a governance proposal concerning a temporary upgrade to the GALA token contract and token destruction. The proposal comes in response to recent security incidents that led to the unauthorized minting and sale of approximately 600 million GALA tokens, as well as the permanent lock of about 44 billion tokens. The proposal aims to formally destroy these 44 billion GALA tokens, along with approximately 600 million GALA tokens from the GALA treasury, to ensure the stability and sustainability of the ecosystem.
The proposal notes that due to the upgradable nature of the GALA contract, the proposed changes will not require exchanges or re-listings, and can be executed without affecting all GALA token users. This will be achieved by upgrading the GALA contract, including the explicit and irreversible destruction of the same number of unauthorized tokens or tokens deemed illegally obtained by law enforcement agencies, and enhancing the contract's security features to prevent future unauthorized access or breaches.
