BitBob

FRIYAY Thread, NOW WITH MORE ALPHA! Since #DEX tokens like $UNI and $1INCH are popping off today, let's talk about exchanges and trading. I know this is a topic I have almost never touched, but I want to get it out there because I know the community cares about it. ALPHA ALERT: Next week, #GalaSwap, a decentralized platform, will be available on #GalaChain. I THINK it will be on Tuesday. I have not gotten permission to share this from our marketing people, so just pretend you didn’t see this. I want to take a few minutes to talk about the fundamental economics of on-chain trading. Here are some trades… I swapped $100 in $USDC for $GALA on Uniswap, and that cost me $42 in ETH gas fees (holy fuck ETH, cool it) Swapping $100 in $USDC for $GALA on Binance, and that costS a taker fee of .1%, or ten cents) I swapped $100 in $USDC for $GALA on GalaChain using #GalaSwap and it cost me 1 $GALA burned (roughly 3 cents) One of these things is better than the other. The cool thing about GalaSwap and GalaChain in general is that we plan to offer CEX-level trades and near-instant finality with everything actually happening on chain. Our plan is to set the fee for both the maker and taker side of the equation at a 1 $GALA burn - for any trade of any size. The long-term plan is to allow the maker side of the equation to get a discount for the amount of $GALA they have locked in the order book to incentivize liquidity building. While v1 is a bit on the simple side, v2 is planned to have API access that will allow market makers to access GalaSwap - anyone who wants to trade will be able to do so with a flat 1 $GALA burn per trade…no matter the size. Want to trade $100? Awesome… burn 1 $GALA. Want to trade $10,000,000? Cool… burn 1 $GALA. We can do this because we aren’t in the exchange business and we have no interest of being in the exchange business. This is about providing functionality to the whole $GALA ecosystem. Any ERC-20 token based on ETH can be bridged in and traded on GalaSwap for a 1 $GALA burn. Right now, new token integrations are manual, but the plan is that they become automatic by v3, opening up GalaSwap for traders of anything from stables to memecoins. Each address connecting to GalaSwap (or the Gala Platform) is screened by @chainalysis to make sure that there are no sketchy funds hitting the bridge. We have been saying for a long time that… $GALA is more than a #web3gaming token. $GALA is more than a #L1 token. $GALA is more than a #dePIN token. $GALA is about building a whole ecosystem that can fundamentally redefine the role of crypto in our lives. It is about to get very interesting.

6/10 isn't bad! Its rookie numbers though! Where is @Last_Expedition on this? Lets get that out there too!