Today sees the start of a promotion by crypto exchange Huobi, with a total prize pool of 1,200,000 GALA tokens up for grabs.
Huobi’s promotion: GALA tokens for free
The promotion will run until November 23 and will reward exchange users who trade GALA on the spot market for the duration of the campaign, in return for a share of the prize pool based on their trading volumes.
Prizes will be awarded to the top 50, plus any additional users who have traded more than 1,000 GALA tokens.
The top five in terms of trading volume will receive a total of 240,000 GALAs in proportion to their individual trading volume.
A further 320,000 GALA will be distributed in the same way to the sixth to twentieth place finishers, and a further 320,000 GALA will be distributed to the twenty-first to fiftieth place finishers.
In addition, another 320,000 GALA will be distributed to all those who have individually traded 1,000 GALA or more, in proportion to their respective volumes.
In total, 1.2 million GALA tokens will be given away.
GALA tokens, the price rises
As of today, the value of a single GALA token is about $0.13, so the total prize pool would have a current value of about $155,000, but of course, it is subject to change between now and when the prizes are actually distributed.
GALA’s price has been on the rise lately, having gained 28% in the last 24 hours alone, and 38% in the last week. In the last month, it has gained 45%, while compared to 12 months ago the price is 38,647% higher.
As a result of these gains, today has seen its all-time high, briefly rising above $0.14.
Huobi Earn to gain more
Huobi is also adding another promotion, also involving GALA tokens. They are offering up to 88% APY on GALA through the Huobi Earn program, with a second promotion starting today and ending on November 28.
GALA is the token created to support the Gala Games ecosystem, which aims to reimagine a new way to play online and reward players and creators.