GateToken Completes $33.84M Burn, Reduces Supply by 59.54%

GateToken (GT) has successfully completed its on-chain burn for the first quarter of 2025, with a total of 1,542,910.7518074 GT tokens transferred to the burn address. The value of this burn exceeds $33.84 million, marking a significant step in the token's deflationary strategy. This burn is part of a sustained deflationary mechanism implemented since the launch of the GateChain mainnet in 2019, which has reduced the total token supply from its initial 300 million to approximately 59.54%.

GT serves as the utility token and gas fee token on GateChain, playing a crucial role in powering the network’s core transfer infrastructure. Despite multiple market cycles, the platform has maintained a prudent and transparent burn strategy, demonstrating its long-term commitment to GT’s deflationary model. This approach provides a solid foundation for sustained value appreciation. The cumulative tokens burned to date amount to 178,632,323 GT, with a total cumulative burn value of approximately $3.92 billion based on the current price.

GateChain is set to enhance its core infrastructure, including data availability (DA), to ensure network efficiency and security. The platform will also expand its Web3 ecosystem to cover various applications such as wallets, trading, asset management, NFTs, and memes, thereby enhancing the overall user experience. As more applications and chains integrate with GateChain, GT is expected to play an even greater role in powering the ecosystem. GT holders are entitled to exclusive benefits such as token launch airdrops, new token staking, and GT staking rewards.

Gate remains committed to the long-term deflationary plan for GT. Under a compliant and structured framework, the platform will steadily advance the token burn process, continually enhancing GT’s scarcity and long-term value. This approach aims to drive the crypto industry toward a more regulated, secure, and efficient future, delivering a richer suite of blockchain services for global users and building a thriving Web3 ecosystem together.