In the first quarter of 2025, a total of 1,542,910.7518074 GT was burned, steadily solidifying long-term value.

robot
Abstract generation in progress

According to the official announcement, the on-chain burn of GateToken (GT) for Q1 2025 has been officially completed, with a total of 1,542,910.7518074 GT transferred to the burn address, with a destruction value exceeding 33.84 million dollars.

On-chain transaction details can be viewed:

As the Utility Token and Gas Fee payment token on GateChain, GT supports the underlying transfer system of GateChain. Since the launch of the GateChain mainnet in 2019, GT has implemented a continuous destruction mechanism, reducing the total supply from the initial 300 million tokens by approximately 59.54%. Even amidst multiple rounds of market fluctuations, Gate has consistently adhered to a prudent destruction strategy, demonstrating a long-term commitment to GT's deflationary mechanism and laying a solid foundation for its value support. Key information for this destruction:

  • Amount destroyed this time: 1,542,910.7518074 GT
  • The value of this destruction: approximately 33.8452 million USD
  • Total amount burned: 178,632,323 GT
  • Total value of cumulative destruction: approximately $3.92 billion (calculated at current prices)

In the future, GateChain will continue to upgrade its core functions, including DA, to ensure the efficiency and security of the network, and expand Web3 ecosystems such as wallets, trading, wealth management, NFTs, and Memes, enhancing user experience. With more applications and public chains connected, GT will play a greater empowering role. In addition, GT holders can also enjoy exclusive benefits such as new coin airdrops, new coin mining, and GT mining. Gate will firmly implement the GT destruction plan, steadily advancing the deflation process under the premise of legality and compliance, continuously enhancing the scarcity and long-term value of GT, while promoting the cryptocurrency industry towards a more standardized, secure, and efficient direction, providing global users with richer blockchain services, and jointly building a prosperous Web3 ecosystem.

Disclaimer: This content does not constitute any invitation, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please note that Gate.io may restrict or prohibit all or part of the services from restricted areas. Please read the user agreement for more information, link: ​.

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments