The Gala community initiated a governance proposal regarding the "temporary GALA token contract upgrade and token burn."

ChainCatcher message, the Gala community has initiated a governance proposal regarding the "temporary GALA token contract upgrade and token burn."

The proposal states that, in light of recent security incidents that led to the unauthorized minting and sale of approximately 600 million GALA tokens, as well as the permanent locking of about 4.4 billion tokens, this proposal aims to formally burn approximately 4.4 billion GALA tokens, along with about 600 million GALA tokens from the GALA treasury, to ensure the stability and sustainability of the ecosystem.

Due to the upgradable nature of the GALA contract, the proposed changes will not require exchanges to conduct swaps or relist, and can be executed without affecting all GALA token users.

It is reported that this move will involve upgrading the GALA contract, including the explicit and irreversible destruction of the same amount of unauthorized tokens or tokens deemed illegally obtained by law enforcement, and enhancing the security features of the contract to prevent future unauthorized access or breaches.