{"id":"gatetoken-gt","title":"GateToken (GT)","content":"**GateToken (GT)** is the unique exchange token of [Gate exchange](https://iq.wiki/wiki/gate) founded by [Lin Han](https://iq.wiki/wiki/lin-han), and the native token of the [GateChain](https://iq.wiki/wiki/gatechain) public chain, which was adopted by Gate after 3 years of GateChain's inception.[\\[1\\]](#cite-id-4oy49a1sy1)\n\n## Overview\n\nGate Token officially became the exchange token of [Gate](https://iq.wiki/wiki/gate) on March 2, 2020. Gate Token is not a [mineable](https://iq.wiki/wiki/mining) cryptocurrency. GT token is an exchange token and a tradable [ERC-20](https://iq.wiki/wiki/erc-20) governance token.\n\n## GT Launch\n\nBetween April 8 and April 15, 2019, Gate raised $64 million to launch its own GT token through Gate Points issuance. These Gate Points were available for purchase with [BTC](https://iq.wiki/wiki/bitcoin-btc), [USDT](https://iq.wiki/wiki/tether), [ETH](https://iq.wiki/wiki/ethereum-classic), [BNB](https://iq.wiki/wiki/binance-coin), [Huobi (HT)](https://iq.wiki/wiki/huobi), and other cryptocurrencies.\n\nThe users could use purchased Gate Points to reduce fees or exchange them for GateTokens (GT). Within a week, the exchange distributed approximately 160 million tokens among Gate Point holders. The total amount of orders placed to purchase Gate Points was nearly $3 billion. As a result, Gate Point buyers received around 1 billion GT.\n\nOn April 21, 2019, GT trading began, and the coin was exchanged in the pairs GT/USDT and GT/[BTC](https://iq.wiki/wiki/bitcoin-btc).[\\[7\\]](#cite-id-u27v32t32u). Later on, the trading pairs that allowed GT in other cryptos are GT/ETH, GT/[BNB](https://iq.wiki/wiki/binance-coin), GT/[ADA](https://iq.wiki/wiki/ada-cardano).\n\n## Token Uses\n\n### Trading Discounts\n\nThe users who hold GateTokens on the Gate exchange receive larger trading fee discounts relative to their token allocation on the Gate platform.\n\n### Early Token Access\n\nGateToken holders receive early access to tokens before they’re listed on the Gate exchange. Users are required to [stake](https://iq.wiki/wiki/staking) their GT tokens to qualify for early access to tokens that are being listed.\n\n### GateChain DeFi\n\nUsers can use their GTs to earn various additional DeFi rewards. GateToken (GT) can therefore be used as a [decentralized digital asset](https://iq.wiki/wiki/decentralized-information-asset) on [GateChain](https://iq.wiki/wiki/gatechain). Users can participate in various [DeFi](https://iq.wiki/wiki/defi) products, including [staking](https://iq.wiki/wiki/staking), [liquidity pools](https://iq.wiki/wiki/liquidity-pool), and [yield farming](https://iq.wiki/wiki/yield-farming). Transaction fees are also paid in GateTokens.[\\[2\\]](#cite-id-7uisghqmwb)\n\n## Features\n\n### Transfer Payments\n\nUsing a wallet or client-side Apps, users can send and receive GTs, as well as popular onchain assets.\n\n### Asset Issuance\n\nUsers can issue their own tokens to digitalize and manage their assets.\n\n### Multi-Signature\n\nMultiple individuals can share ownership of an account, and customize its management, suitable for both enterprise and family demands.\n\n### Asset Safe Storage\n\nWith a uniquely designed vault account and a clearing mechanism, an account can be 100% secure with revoking functions countering abnormal transactions.\n\n### PoS Consensus Mechanism\n\nGT works as a stable incentive for users participating in [staking](https://iq.wiki/wiki/staking), ensuring the underlying health and stability of the ecosystem.[\\[8\\]](#cite-id-6azw1in6ypc)\n\n## Use Cases\n\nGT’s on-chain functions mainly include:[\\[4\\]](#cite-id-wkkg0uapk4)\n\n* Paying online transfer fees. [GateChain](https://iq.wiki/wiki/gatechain) supports users to send and receive GT and other on-chain assets using wallets and clients.\n* GT is GateChain’s [PoS](https://iq.wiki/wiki/proof-of-stake) mining reward. In order to ensure the stability of the blockchain, GateChain encourages users to participate in PoS mining to obtain GT rewards as a stable return.\n* GateChain allows users to issue their own tokens to digitize their assets and use GT as a carrier to manage their own digital assets.\n\nGate’s website said:[\\[9\\]](#cite-id-crz0jl4hnln)\n\n> As an important part of the Gate ecosystem, GT can be used in VIP tier escalation, trading fee debits, exclusive activities participation and more. Gate will also increasingly empower GT with more applications and use cases to improve its intrinsic value.\n\n### Token Burning Mechanism\n\nAs the utility token of Gate, GT’s value is deeply bound to the development of Gate.io. Gate.io guarantees the value of GT by repurchasing and burning GT on the market. On August 27, 2019, Gate.io destroyed 19,467,230 GTs for the first time and has been publicly destroying GT uninterruptedly since then.[\\[6\\]](#cite-id-ohw9x30m8o)\n\nIn order to further ensure investor’s rights and interests, Gate has been using 15% of the profits from currency transactions to repurchase circulating GT from the secondary market, which started on September 1, 2020. In addition, 5% of the repurchase profits are used for GT R\\&D, marketing, and ecological promotion. These GTs will never flow back to the market. The total repurchase ratio is as high as 20%. The GT buyback ratio is increased or decreased every four years based on the market and industry’s conditions.\n\nAs of June 2, 2022, Gate has burnt over 151 million GTs through startups, list request voting, burning of coin collateral, and burning of uncirculated GTs.[\\[10\\]](#cite-id-0zlt0nrlwutd)","summary":"GateToken (GT) is the exchange token of Gate and the native token of the GateChain public chain, used for trading and governance purposes.","images":[{"id":"QmQHB24RjN7p88tbF511VgHHGM7J9dLYk8DnqdUZxm5Jwm","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"tags":[{"id":"CEXes"}],"media":[{"id":"QmRBVACSh7ewxpKeZaBLorELjhtJ7zRkAoWJdfbD8Ke5BQ","size":"0.19","name":"image","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmWP1R6979k2fj1eTciZ58nhxpgb2N8cvhYX1zdPW6W5yE","size":"0.10","name":"image","type":"GALLERY","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=TymRLHfUc5E","size":"0","name":"TymRLHfUc5E","type":null,"source":"YOUTUBE"}],"metadata":[{"id":"references","value":"[{\"id\":\"4oy49a1sy1\",\"url\":\"https://skrumble.com/cryptocurrencies/what-is-gate-token-gt/\",\"description\":\"gatetoken[gt]\",\"timestamp\":1687423557368},{\"id\":\"7uisghqmwb\",\"url\":\"https://coinkickoff.com/gate-token-gt/#:~:text=GateToken%20(GT)%20can%20therefore%20be,also%20paid%20in%20Gate%20Tokens.\",\"description\":\"GT uses\",\"timestamp\":1687457211921},{\"id\":\"xl1pheo8ymf\",\"url\":\"https://coinkickoff.com/gate-token-gt/#:~:text=GateToken%20(GT)%20can%20therefore%20be,also%20paid%20in%20Gate%20Tokens.\",\"description\":\"GT disadvantages\",\"timestamp\":1687457227975},{\"id\":\"wkkg0uapk4\",\"description\":\"GT functions\",\"timestamp\":1754990213381,\"url\":\"https://www.gate.com/gt\"},{\"id\":\"gdxeeujcqhd\",\"url\":\"https://www.crunchbase.com/organization/gatechain/technology\",\"description\":\"gt techs\",\"timestamp\":1687458780124},{\"id\":\"g100ggaey7w\",\"description\":\"gt tokenomics\",\"timestamp\":1754990218560,\"url\":\"https://www.gate.com/gt\"},{\"id\":\"ohw9x30m8o\",\"description\":\"gt burning mechanism\",\"timestamp\":1754990264979,\"url\":\"https://www.gate.com/gt\"},{\"id\":\"u27v32t32u\",\"url\":\"https://gagarin.news/news/crypto-gateway-a-review-of-gatetoken-gt/\",\"description\":\"gt launch\",\"timestamp\":1687460318260},{\"id\":\"6azw1in6ypc\",\"url\":\"https://cryptoslate.com/coins/gatechain-token/\",\"description\":\"gt features\",\"timestamp\":1687461129667},{\"id\":\"crz0jl4hnln\",\"url\":\"https://capital.com/gatetoken-gt-price-prediction\",\"description\":\"gate.io views on gt\",\"timestamp\":1687462124992},{\"id\":\"0zlt0nrlwutd\",\"description\":\"gt burning mechanism\",\"timestamp\":1754990254037,\"url\":\"https://www.gate.com/gt\"}]"},{"id":"website","value":"https://www.gate.com/gt"},{"id":"twitter_profile","value":"https://twitter.com/gatechain_io"},{"id":"github_profile","value":"https://github.com/gatechain"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/gatetoken/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/gatetoken"},{"id":"medium_profile","value":"https://medium.com/@gatechain"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmWw7Uqe8YWCKKXNZ8S2L4yoUrHGQQ3WEj1Hq2PwoqT5sV\""},{"id":"commit-message","value":"\"Docs: Update content identifier (CID) to point to the latest version.\""},{"id":"previous_cid","value":"QmWw7Uqe8YWCKKXNZ8S2L4yoUrHGQQ3WEj1Hq2PwoqT5sV"}],"events":[],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0xa99437c1445649AA316f7CC43dFf3E6e210a5F23"},"language":"en","version":1,"linkedWikis":{"blockchains":["gatechain"],"founders":["lin-han"],"speakers":[]}}