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Gate unveils layer 2 network and GT tokenomics upgrade

Gate unveils layer 2 network and GT tokenomics upgrade

Gate aims to boost scalability and GT token demand by integrating enhanced tokenomics with a new EVM-compatible layer 2 blockchain.

by Vivian Nguyen

1 min read

In Web3

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Gate, a crypto exchange, today unveiled a layer 2 network alongside a comprehensive tokenomics overhaul for its GT token. The announcement triggered a minor price reaction for GT, which now holds a nearly $2B market cap.

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The tokenomics upgrade includes designating GT as the exclusive gas token for Gate Layer while continuing its dual burn model.

The new layer 2 network represents Gate’s blockchain infrastructure designed to enhance scalability while integrating with the updated tokenomics framework. Built on the OP Stack and fully EVM-compatible, Gate Layer uses GateChain as its settlement layer.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

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