Gate Supports Galxe (GAL) to Gravity (G) Token Migration

According to the Galxe (GAL) project team, Galxe (GAL) tokens will be migrated to Gravity (G) at a ratio of 1 GAL : 60 G. Gate will facilitate this migration and provide seamless token swap services for users. If you currently hold Galxe (GAL) on Gate, no action is required on your part.

Details:

1. Gate will disable new margin borrowing and crypto loan services for Galxe (GAL) before July 12, 2024, 08:00 A.M. UTC.
2. Users with ongoing trades in the futures trading market are encouraged to adjust your strategies in advance. From July 13, 2024, 08:00 A.M. UTC, the GAL/USDT futures trading market will switch to a "Reduce-only" mode.
3. On July 14, 2024, 08:00 A.M. UTC, Gate will automatically settle open positions at the average index price in the half-hour before the futures trading stops. Any outstanding orders will be canceled automatically. Users with open positions in the futures market should adjust your strategies and close positions before July 14, 2024, 08:00 A.M. UTC to avoid automatic settlement.
4. Starting from July 15, 2024, 07:00 A.M. UTC, Gate will suspend the deposit, withdrawal, and trading services for Galxe (GAL), including spot trading, quant grid trading, Simple Earn, margin trading, and liquidity mining.
5. Users with ongoing Galxe (GAL) quant grid trading should adjust your trading strategies beforehand. Otherwise, the trades will be terminated automatically before July 15, 2024, 07:00 A.M. UTC.
6. Users with assets in Simple Earn may manually redeem them in advance. Otherwise, the assets will be liquidated before July 15, 2024, 07:00 A.M. UTC.
7. Users with outstanding Galxe (GAL) loans in the margin trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before July 15, 2024, 07:00 A.M. UTC.
8. Users who have provided liquidity for Galxe (GAL) in the liquidity mining market should withdraw the liquidity in advance. Otherwise the liquidity will be automatically redeemed before July 15, 2024, 07:00 A.M. UTC.
9. New Gravity (G) Token ID: 0x9C7BEBa8F6eF6643aBd725e45a4E8387eF260649 (ETH)

Please note that there are risks of additional issuance and freezing associated with Gravity (G) tokens. Gate will no longer support Galxe (GAL). The listing time for Gravity (G) will be announced separately after Gate completes the listing review.

Official Sources: https://snapshot.org/#/gal.eth/proposal/0x8d3f386c3b0cb9fa170d4231c65f18bd45ea1402b90a70116e1101c22e62ed01
https://blog.galxe.com/introducing-g-one-token-two-ecosystems-306fee047256

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Gate Team
July 10, 2024