If you have been following my previous blog posts you will be aware of the recent monumental price rise of the crypto token, $GALA.
$GALA is the native token for the decentralised gaming platform that is GALA Games.
Whilst the Coinbase listing has certainly been the catalyst for the huge “green candles” on the $GALA charts of late, it appears that all metaverse related coins have been enjoying impressive price rallies such as $SAND which is also up by circa 50% in the last 7 days.
The $GALA coin reached an all time high of $0.84 on the 26th November. The price did face rejection at this level and now seems to be finding support at circa $0.70.
What does this mean for GALA Games Node operators?
GALA Games node operators provide support such as bandwidth, CPU, and memory etc. to the GALA network in a decentralized manner. In return for their support to the network, node operator receive daily rewards in the form of $GALA.
At present, node owners are receiving around 300 $GALA per day providing their node is online for at least 6 hours a day.
At a price of $0.70, this equates to daily earnings of $210 (300 x $0.70), which is just over $6k per month, or $6,300 to be precise ($210 x 30).
How is the daily distribution of GALA calculated?
Every day 8,561,643 GALA is released into circulation and is distributed amongst node operators that have been “active” during that day.
A node is classed as “active” if it provides 6 hours of uptime to the network during a 24 hour period.
The 8.5m GALA is then divided up by the total number of node operators. For example, if there are 26,000 node active node owners on the 27th November, each node owner will receive 339 GALA for that day (8,561,643/26,000).
It should be noted that from Jan 2022, the distribution system is changing and will reward node owners for more uptime to the network. The planned points systems will be as follows:
If a node provides 6 hours support to the network it will receive 1 point
If a node provides 12 hours support to the network it will receive 2 points
If a node provides 18 hours support to the network it will receive 3 points