Gala unlocking mechanism — Passive income for ZPT holders
Dear Zeepiners,
Since the beginning of our journey, we have been looking for new ways to incentivize and reward early Zeepin investors through various campaigns and reward structures. With the release of ZeeWallet, we are presenting a new way of earning passive income through Gala unlocking mechanism.
Gala is a utility token that has a wide variety of uses in the ecosystem, such as smart contract deployment, network consumption fees, enabling transactions etc. All ZPT holders will receive certain amounts of them on a regular basis in order to power their Smart Contracts and transactions. For the full description of Gala use cases, click here.
You can see the Gala distribution model in the pie chart above. While we have already presented CryptoGalaxy, where you can easily dig minerals and convert them into Gala (this falls into community development), the newly presented unlocking mechanism brings even more benefits to anyone holding ZPT in Zeepin Chain.
A ZPT transaction generated on the blockchain triggers Gala unlock. The smart contract automatically transfers the unlocked Gala to the initiator and the receiver of the transaction, and the Gala reward is directly proportional to the ZPT amount they hold.
In case that transactions at a particular address have not been triggered, the Gala at the address will accumulate until the next transaction is triggered, and the accumulated Gala will be issued at once. It is possible to obtain this part of Gala through “Claim Gala” function in the ZeeWallet application.
How to claim Gala through ZeeWallet
ZPT transaction will unbind the previously generated Gala and will assign it the address of the sender and receiver. Each ZPT transaction will unbind newly generated Gala and assign it to your address.
To claim the unbound Gala, use the “Dig Gala” function in your ZeeWallet.
Even if you don't make any ZPT transactions, Gala will still be assigned to your address in the background but will only be unbound once a ZPT transaction is made.
- Make a ZPT transaction
- Click “Dig Gala” in ZeeWallet
- Wait a few seconds. Unbind Gala will be added to your balance
Users with ZPT stored in CryptoGalaxy: Gala will be unlocked and assigned to your in-game address. After the release of V1.7 (in that version, you will get full control over your in-game wallet), the unlocked gala will be released to your address via smart contract.
Users with ZPT locked in GalaBox or GalaHub campaigns will receive the generated gala once the lock-up period ends.
The unlock amount of the 18 billion Gala will be adjusted within time periods. The time periods are on a yearly basis (31,536,000 seconds), and the unlocking rule is in accordance with the Fibonacci sequence. In order to compensate network nodes and early holders, the unlocked amounts in the first two years are at the highest value. Afterward, the unlock amounts will assume a degression tendency. The specific sequence is [89, 89, 55, 55, 55, 34, 34, 34, 21, 21, 21, 13, 13,13, 8, 8, 5, 5]. In about 18 years, all Gala will be unlocked, and no more Gala will be generated.
According to this rule of Gala unlock, the first two years will see an unlock of 31.18% of total Gala, and the unlocked proportion will be 50.46% after the first four years, which greatly increases the revenue of early holders.
Assuming a user holds 10,000 ZPTs, in the first year, he will receive 76.9 Gala per day, 2338.9 Gala per month, and 28067.0 Gala per year.
To put it simply, there will be 2,8 billion gala unlocked and distributed to ZPT holders in each, first year and second year. The proportion of ZPT you hold compared to the total supply will determine your average daily Gala unbound. More ZPT you hold, more Gala you can claim.
We are looking forward to the bright future ahead of us and hope that we can reward our early supporters in different ways and allow them to generate different kinds of additional passive income. As Gala token will increase its utilization with the expansion of Zeepin network, CryptoGalaxy, and GalaCloud, we are confident in the long-term value appreciation.
For more updates, please follow our social media channels:
Zeepin:
Website: https://www.zeepin.io/
Telegram: https://t.me/zeepin
News Channel: https://t.me/ZeepinNews
Twitter: https://twitter.com/ZeepinChain
Facebook: https://www.facebook.com/ZeepinChain/
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Linkedin: https://www.linkedin.com/company/zeepin-foundation/
Discord: https://discord.gg/YcPhNXC
Galaxy:
Website: https://cryptogalaxy.one/
Telegram: https://t.me/CryptoGalaxyOne
Twitter: https://twitter.com/TheHubGalaxy
