$GALA In light of recent security incidents that resulted in the unauthorized minting and sale of approximately $600 million in GALA tokens, and the permanent locking of approximately $4.4 billion in tokens, this proposal seeks to officially burn these approximately $4.4 billion in GALA tokens, as well as the central Gala Treasury Approximately 600 million tokens to ensure the stability and sustainability of the ecosystem.
NOTE: Due to the upgradeable nature of the $GALA contract, the proposed changes will not require a swap or re-listing on an exchange and can be executed without disruption to all users of the $GALA token.
objective
Upgrade the $GALA contract to include the determined and irreversible burning of the same amount of unauthorized tokens or tokens that law enforcement determines were illegally obtained, and enhance the contract’s security features to prevent future unauthorized access or breaches.
Proposal details
1. Contract upgrade
Develop and deploy a patched version of the $GALA contract to remove illegal provisioning.
Develop and deploy further upgraded versions of the $GALA contract, locking in changes to better secure the contract and supply.
2. Token burning
Permanently removing approximately $5 billion of GALA tokens from circulation by sending them to burn addresses that cannot be retrieved.
Ensure that the combustion process is transparent and verifiable by the community and external observers.
3. Timetable and Implementation
Development of the upgrade contract will begin immediately upon approval of this proposal.
Schedule the contract upgrade and token burning to be completed within the next 72 hours.
Voting details
Voting period: Voting will be open for 24 hours from the date the proposal is announced.
Eligibility: All founder node operators.
Majority requirement: A simple majority of 51% is needed to pass the proposal.
voting question
Should $GALA contract upgrades be deployed to eliminate unauthorized supply and strengthen contract security, permanently removing approximately 50B $GALA from circulation via transparent burning, to promote long-term ecosystem health?
Yes: I support contract upgrades and $GALA burning to enhance security and promote ongoing ecosystem health.
No: I do not support contract security upgrades and burning these illegal tokens from circulation.
Abstain: I choose to abstain from voting on this proposal.
expected outcome
By reducing the total supply, restore community trust and stabilize the $GALA token supply and node reward program.
Strengthen the $GALA ecosystem through enhanced security measures.
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