GateToken is the official and native token on the GateChain Mainnet of the Gate.io ecosystem. Formally launched on 02 March 2020 as Gate.io’s official exchange token, the GateToken has since remained an important part of the Gate.io ecosystem, totally depending on Gate.io with its development pegged to the ecosystem.
With an initial supply of 1 billion in its early stage, GT was allocated as gifts to various Point purchasers on the Gate.io platform, after which up to 700 million tokens were burned, leaving the current and total circulation at 300 million tokens. Since its launch, burning and buyback methods have been implemented in the circulation control process of the token, making it a deflationary token.
Now with a total supply of 300 million tokens, 46.39% of the GateToken supply has been burned since its introduction, 43.61% of the supply is in actual circulation and a total of 10% is in storage. 15% of its total operating profits have been used by Gate.io to buy back GateToken from the market for public burning, and 5% for marketing & ecological purposes, GT R&D, making a total of 20% buyback.
Uses of the GateToken
As an important part of the Gate.io ecosystem, the GateToken has been empowered to offer several benefits and uses on and beyond the platform, including;
VIP Tier Escalation
By holding the GT, users have the chance to advance their VIP levels, thereby enjoying limitless and exclusive benefits including better trading fees, flexible withdrawal limits, faster trading, easier and faster withdrawal/deposit activities, exclusive management services, comprehensive market data, exclusive Gate.io meetup, and more.
Trading Fee Payment
The GateToken can be used on the Gate.io exchange platform as a means of payment of required trading fees during transactions, which also allows users to enjoy further discounts depending on transaction volume.
Intrinsic Investment Value
As one of the world’s leading cryptocurrency exchanges, Gate.io has the perfect ecosystem to further strengthen the GateToken with more use cases and applications to improve its inherent and circulation value, thereby keeping it valuable and investment-worthy.
Exclusive Activities Participation
Possession of the GateToken enables and ultimately provides holders with access to several exclusive and high-profile activities that are launched from time to time, including Vote Campaigns, Live Mainstreams, Discount Sales, and many more.
How To Get GateToken
Like most other cryptocurrencies, GateToken (GT) can be purchased on various different exchanges, with Gate.io being the most logical choice. Besides purchasing it on a spot exchange, investors can earn GateTokens by participating in several different promotional campaigns and activities.
About Gate.io
Established in 2013, Gate.io is one of the oldest, leading cryptocurrency exchanges. Gate.io offers most of the leading digital assets and has over 10 million registered users across the world. It is consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko, and has been verified by the Blockchain Transparency Institute (BTI). Additionally, Gate.io has been given a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021. Besides the main exchange, Gate.io also offers other services such as decentralized finance, research and analytics, venture capital investments, wallet services and more.
Disclaimer:
Please note that Gate.io may not provide its full scale of services in certain markets and jurisdictions, and Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations, such as the United States of America, Canada, Iran, Cuba and more. For the latest list of all the restricted locations, please read the User Agreement, “Section II Eligibility” via https://www.gate.io/docs/agreement.pdf.
Source: https://www.thecoinrepublic.com/2022/04/20/why-is-gt-gatetoken-worth-watching/