Gate Token (GT) Q3 on-chain destruction completed, circulation reduced to less than 100 million

According to the official announcement, in the third quarter of 2024, Gate Token (GT) will be destroyed on the chain, with a total of 2,244,543.9745556 pieces destroyed. Up to now, the cumulative number of GT destroyed has reached 174.1 million, and the circulation is about 96 million, achieving the staged goal of reducing the circulation to less than 100 million. Since the GT destruction policy was implemented in 2019, the total supply has decreased by approximately 58.06%, providing solid support for its long-term value. This quarter, GateChain completed the v1.1.6 mainnet upgrade. The new mechanism significantly improved transaction confirmation speed, reduced user costs, and further optimized the GT token burning strategy. The Gate Web3 ecosystem has also received multiple updates in terms of functionality and user experience. It currently supports more than 100 public chains and has added 1.117 million new users, making it an important Web3 portal. In addition, GT’s exclusive mining products are now online, providing a convenient and safe staking solution with an annualized rate of return of approximately 6.71%. For more details, please refer to GT Staking. In the future, GateChain will continue to focus on technological innovation, improve ecological construction, and provide more efficient blockchain infrastructure support for global users and developers.