What is GT?

GateToken (GT) is the main cryptocurrency used on the GateChain blockchain and its Layer 2 network called Gate Layer. It’s designed to support a secure and scalable environment for decentralized applications (dApps) and managing digital assets.

1. Practical uses – GT is needed to pay transaction fees, participate in staking (locking tokens to support the network), vote on important decisions (governance), and access services like trading tools and new token launches.
2. Reducing supply over time – The system regularly destroys (or “burns”) some GT tokens every quarter and also burns fees collected on the network, following a method similar to EIP-1559. This helps make the remaining tokens more valuable. So far, more than 60% of the original tokens have been burned.
3. Core of the ecosystem – GT serves as the “gas” token on Gate Layer, meaning it’s used to power transactions quickly and efficiently on this high-speed network.

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