Gala wants to limit sell pressure ?
Founder node owners voted to implement a cumulative point system for earnings, with minting penalties for this purpose years ago, reducing circulating supply and strongly discouraging selling.
It was also encouraging decentralization by not having a single entity owning hundreds, if not thousands of Gala Founders nodes.
blog.gala.games/the-node-bas…
The million
$GALA staking
@Benefactor0101 wants to implement wont do anything onfuture selling pressure, but it temporary increases buying pressure.
Why ? Whales will fill their bags in order to benefit from significant higher distribution, they won't need to hold their earnings as already sitting on a huge amount of gala tokens.
Gala total supply is close to 45b, max supply is set at 50B.
Once total supply gets closer to max (give it 2-3 years) whales will urge to dump their bags as they wont be earning enough anymore, and will anticipate dumping of other whales. It will be a massive crash.
This goes against decentralization and web3 values,
And goes against the community who been supporting the ecosystem for years.
Not saying I couldn't be wrong here,
But there's enough room to debate and consider reviewing/explaining purposes of this new implementation, that seem to only benefit wealthy people and insiders.
It is also scary to know Gala can adjust whatever and whenever they want their tokenomic policies.