GateToken (GT) is the native asset of GateChain and serves as the utility token for Gate.io. It is known for its focus on scalability and privacy features, offering users a secure and efficient platform for digital asset management.
GateToken operates within the GateChain blockchain, which uses a Proof of Stake (PoS) consensus mechanism to ensure fast and secure transactions. It features Ethereum Virtual Machine (EVM) compatibility for smart contracts, facilitating seamless integration with Ethereum-based projects. GateToken also supports token burns for deflationary supply management, ensuring long-term value retention.
GateToken (GT) has various use cases, including:
Gate was founded by Lin Han, a Chinese scientist and crypto enthusiast, who launched the precursor to Gate.io, bter.com, in 2013. After rebranding and relocating to the Cayman Islands in 2017, GateChain was introduced in 2018, focusing on asset security and decentralized trading. Significant milestones include the launch of GateChain's Mainnet in 2020, the introduction of GateBridge in 2021, and the launch of NFT Magic Box. GateChain has continued to evolve, integrating features like Vault accounts and supporting cross-chain transactions, while Gate.io has become a leading exchange with comprehensive security measures.