Cryptocurrency exchange Gate announced the successful completion of the on-chain burn of GateToken (GT) for the second quarter of 2025, with a total of 1,922,789.196841 GT transferred to the burn address, valued at over $39.01 million.
GT serves as the core platform token of Gate and the native asset of Gate Chain, functioning as both a utility token and the gas fee token within the GateChain network. Since the launch of the GateChain mainnet in 2019, GT has maintained a continuous deflationary mechanism, reducing the total token supply by approximately 60.18% from its initial 300 million.
Throughout various market conditions, Gate has consistently followed a transparent and cautious burn strategy, underlining its long-term dedication to GT’s deflationary model and supporting a foundation for sustained value growth. This quarter’s burn of 1,922,789.196841 GT contributes to a cumulative total of 180,555,112 GT burned, with an estimated cumulative burn value of approximately $2.748 billion based on current prices.
Gate Advances GateChain Infrastructure And Expands Web3 Use Cases While Upholding Long-Term Deflationary Strategy For GT Token
As on-chain applications grow, the function of GT within the Gate ecosystem is also developing. Moving forward, Gate plans to strengthen the foundational features of GateChain, emphasizing critical aspects such as data availability to maintain network performance and security. Concurrently, the platform intends to broaden its Web3 use cases to include wallets, trading, asset management, non-fungible tokens (NFTs), memes, and more, fostering greater ecosystem complexity and diversity.
Gate remains dedicated to its long-term deflationary strategy for GT, operating within a compliant and organized framework to increase the token’s scarcity and enduring value. This approach is designed to support the advancement of a more regulated, secure, and efficient cryptocurrency industry, offering an expanded range of blockchain services to users worldwide and contributing to the growth of a vibrant Web3 ecosystem.
Established in 2013 by Dr. Han, Gate ranks among the earliest cryptocurrency exchanges globally. The platform supports more than 31 million users and offers access to over 3,600 digital assets. It was a pioneer in implementing the industry’s first full proof-of-reserves system. In addition to its primary trading services, Gate’s ecosystem encompasses products such as Gate Wallet and Gate Ventures, along with other innovative offerings. The exchange has also formed global partnerships with prominent sports organizations, including Oracle Red Bull Racing in Formula 1 and Inter Milan.
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