About Gate
GateToken (GT) is the native utility token of the Gate ecosystem, which includes the Gate.io centralized exchange and the GateChain public blockchain. Gate's own materials describe GT as a token designed to connect centralized exchange infrastructure with a decentralized public chain. GT launched in 2019 and became the platform's primary utility token in March 2020. GateChain uses a consensus mechanism based on Tendermint combined with Algorand's verifiable random function for validator selection, with block production secured through staking of GT. The token is used to pay trading fees on the exchange, cover gas costs on GateChain, participate in staking, and access other ecosystem services. GT has a fixed total supply of 300 million tokens, and Gate has burned a significant portion of that supply, leaving a circulating supply reported at roughly 98 to 107 million tokens depending on the reporting period. GT is the utility asset tying together the exchange and blockchain sides of the Gate platform.
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