What is the issuance and circulation of GT coins?

As of February 2023, approximately 320 million GT tokens, representing about 32% of the total supply, are in circulation.

Oct 26, 2024 at 05:28 pm

Issuance and Circulation of GT Coin1. Token Issuance

GT coin is the native token of the Gate.io exchange.
It was first issued through an initial exchange offering (IEO) on Gate.io in April 2019.

2. Total Supply

The maximum supply of GT coin is set at 1 billion tokens.
Out of this, 300 million GT tokens were allocated for the IEO, and the remaining 700 million tokens were reserved for future use.

3. Distribution of Tokens

50% of the GT tokens were allocated to community incentives and ecosystem development.
30% were allocated to the Gate.io team and investors.
20% were allocated for marketing and operations.

4. Token Circulation

As of February 2023, approximately 320 million GT tokens are in circulation.
This represents about 32% of the total supply.

5. Token Burning Mechanism

Gate.io implements a quarterly token burning mechanism to reduce the total supply of GT coins.
This mechanism uses 20% of the exchange's quarterly revenue to burn GT tokens.
The first token burn was executed in June 2020.

6. Token Use Cases

GT coin serves several use cases within the Gate.io ecosystem:

Trading fee discounts on Gate.io exchange
VIP membership access
Participation in governance voting
Staking to earn rewards

7. Token Price Performance

Since its launch, the price of GT coin has experienced significant volatility.
The all-time high price of GT was $11.38, reached in April 2021.
As of February 2023, the price of GT coin is approximately $5.25.

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