GateToken Completes $33.85M Burn, Reduces Supply by 59.54%

GateToken (GT) has successfully completed its on-chain burn for the first quarter of 2025, transferring a total of 1,542,910.7518074 GT to the burn address. The value of this burn exceeds $33.84 million, marking a significant step in the token's deflationary strategy. The transaction details can be viewed on-chain at the provided link.

As the utility token and gas fee token on GateChain, GT is crucial for the network’s core transfer infrastructure. Since the GateChain mainnet launch in 2019, GT has implemented a sustained deflationary mechanism, reducing the total token supply from its initial 300 million by approximately 59.54%. This reduction has been achieved through a prudent and transparent burn strategy, which has remained consistent even through multiple market cycles. This approach underscores the platform's long-term commitment to GT’s deflationary model, providing a solid foundation for sustained value appreciation.

Key details of this burn include the total number of tokens burned, which is 1,542,910.7518074 GT, with a value of approximately $33.8452 million. The total cumulative tokens burned to date amount to 178,632,323 GT, with a cumulative burn value of approximately $3.92 billion based on the current price. This ongoing reduction in supply is expected to enhance GT’s scarcity and long-term value.

Looking ahead, GateChain plans 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 poised to play an even greater role in powering the ecosystem. GT holders will continue to enjoy exclusive benefits, including 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.