This version of the Guardians of the Galaxy first appeared in Guardians of the Galaxy (vol. 2) #1 (May, 2008).
In the aftermath of the Phalanx invasion of the Kree, Star-Lord decides to form a team of interstellar heroes that will be proactive in protecting the galaxy, rather than reacting to crises as they happen. To this end, he recruits Adam Warlock, Drax the Destroyer, Gamora, Phyla-Vell (the new Quasar), Rocket Raccoon, and Groot, with Mantis as support staff.
On the recommendation of their ally, Nova, the group establishes a base of operations on the space station Knowhere, which possesses a teleportation system with near-universal range. An intelligent, telepathic dog named Cosmo is Knowhere's chief of security and works closely with the new team. After a confrontation with the Universal Church of Truth, the team meets a semi-amnesiac man who identifies himself as Vance Astro - Major Victory of the original Guardians of the Galaxy. Astro's declaration inspires the as-yet-unnamed team to adopt the "Guardians of the Galaxy" name for their own. When the team learns Star-Lord directed Mantis to telepathically coerce the heroes into joining the team, they disband.
Rocket Raccoon decided to continue Star-Lord's mission and started a search for the missing members. He asked Bug to join the team, as well Groot's return to full size and the addition of Mantis and Major Victory as field members.
Meanwhile Star-Lord was banished to the Negative Zone by Ronan the Accuser for his actions during the Phanlanx's attempted conquest of the Kree Empire. There, he finds himself in the middle of King Blastaar's fight to break into 42 and use its portal to invade Earth. Star-Lord allies with Jack Flag to defend the prison and contact the other Guardians for rescue. Rocket's new team successfully brings both of them back, and Flag becomes a Guardian.
Elsewhere, Drax and Phylla begin looking for Cammi, but on their search they talk to a seer who tells them about an oncoming war. Phylla was able to wake Moondragon from the dead, but lost her Quantum Bands in the process. The consequence for Phyla is that she is now the new avatar of death. They went back to Knowhere and did not follow up on the search for Cammi.
The feature film Guardians of the Galaxy is set for release on August 1st, 2014.