GateToken (GT) is the native crypto asset of GateChain and the utility token of the Gate.io exchange platform. As one of the tokens that plays an important role in the Gate.io ecosystem, GT offers various advantages to its users, from transaction fee discounts, exclusive access to premium features, to investment opportunities through staking and HODL & Earn programs.
What is GateToken (GT)?
GT was first launched in 2019 and officially became Gate.io's utility token on March 2, 2020. GT operates on a Proof-of-Stake (PoS) mechanism, which allows users to participate in mining and earn rewards from the GateChain ecosystem. Currently, the total supply of GT is 300 million tokens after experiencing a large cut from the initial total of 1 billion tokens, making it a crypto asset with a strong deflationary mechanism.
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Functions and Uses of GT
As the main utility token in the Gate.io and GateChain ecosystems, GT has various uses, including:
1. Trading Fee Discounts
GT holders can enjoy transaction fee discounts on various trading services on Gate.io, including spot trading, futures, and crypto loans. The more GT you own, the bigger the discount given.
2. Staking and PoS Mining
GT can be used for staking in the GateChain network, allowing users to earn rewards with competitive profit rates. In addition, GT also functions as a reward in the PoS mining system.
3. Voting Rights and Exclusive Access
GT holders have the right to vote in the selection of new tokens to be listed on Gate.io. In addition, they also get exclusive access to certain events, startup programs, and special airdrops.
4. Tokenomics and Burning Mechanism
To maintain scarcity and increase the value of GT, Gate.io regularly conducts buybacks and token burning. As much as 15% of Gate.io's profits from spot, margin, and futures trading are allocated to buy back and burn GT. In addition, 5% of the profits are used for the development of the GT ecosystem. To date, more than 58% of the total GT has been burned.
5. Interoperability with Ethereum
GateChain is compatible with the Ethereum Virtual Machine (EVM), so developers can easily migrate decentralized applications (dApps) from Ethereum to GateChain at a lower cost. In addition, the GateChain account system has been expanded to support Ethereum-based 0x addresses, allowing users to manage assets on both blockchains using one address.
Advantages of GateToken (GT)
GateToken (GT) offers several advantages that make it attractive to Gate.io users and crypto investors:
- Deflationary Mechanism: With a limited supply and active burning mechanism, GT has the potential for long-term value appreciation.
- Integrated Ecosystem: As part of Gate.io and GateChain, GT has many uses that directly benefit its holders.
- Staking and DeFi Support: GT can be used in various DeFi products such as staking, yield farming, and liquidity pools.
- Access to Exclusive Features: GT holders can enjoy various benefits, including trading fee discounts, access to startup projects, and voting rights in community decisions.
How to Buy GT on MobeeFollow these steps to buy GT through the Mobee app:
- Registration and Verification: Register and complete the account verification process (KYC) first.
- Fund Deposit: After verification, deposit some funds into your Mobee wallet to make buying easier.
- Open Trade Menu: Access the Trade menu at the bottom of the app.
- Select GT: Find GT in the asset list or search by keyword "GT".
- Select Trading Pair: Select a trading pair, such as GT/USDC.
- Transaction Method: Determine the transaction method:
- Market Order: For the current market price.
- Limit Order: For a price you set yourself.
- Enter Amount: Enter the amount of GT you want to buy and check the transaction information.
- Confirmation: Click "Confirm" to process the purchase.
Once the transaction is successful, you can find the GT asset in the Wallet section.
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GateToken (GT) is a token that plays an important role in the Gate.io and GateChain ecosystems. With various benefits such as trading discounts, voting rights, staking, and exclusive access to premium features, GT has become an attractive asset for investors and loyal Gate.io users. With a continuous burning mechanism, GT has great potential to continue to grow and maintain its value in the long term.
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