According to BlockBeats, Galxe officially announced on July 4th that its Galxe (GAL) token will be migrated to Gravity's native token (G) to unify and optimize the experience across both ecosystems.
Gravity's native token, G, also serves as the utility token for both the Gravity and Galxe ecosystems. It drives transactions as a Gas token and will soon secure the network through staking. As the primary utility token across both ecosystems, G propels governance decisions, stimulates growth, and facilitates payments.
The G token will serve as the native token for 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 held by users will be destroyed, and new G tokens will be sent to their wallets at a ratio of 1:60. The migration portal will open to all users on July 9, 2024, and will remain online for at least one year to ensure that GAL holders have ample time to complete this process.