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Gelato Network, a decentralized automation protocol, allows users to automate complex blockchain tasks using its GEL token, which serves as payment and rewards for runners who execute tasks based on pre-defined conditions.

Dec 29, 2024 at 11:25 am

Key Points:

• What is Gelato Network?
• How to buy and trade Gelato (GEL) coin?
• Where to store GEL coins?
• How to use Gelato Network?
• FAQs about Gelato Network and GEL coin

What is Gelato Network?

Gelato Network is a decentralized network for automating blockchain tasks. It allows developers to create and execute automated tasks, such as:

• Sending transactions at a specific time
• Swapping tokens based on price conditions
• Liquidating positions on lending protocols

Gelato Network uses a network of "Runners" to execute tasks on behalf of users. Runners earn rewards in GEL for completing tasks.

How to buy and trade Gelato (GEL) coin?

GEL can be bought and traded on several cryptocurrency exchanges, including:

• Binance
• Coinbase Pro
• Uniswap
• FTX

To buy GEL, you will need to create an account on one of these exchanges and follow the trading instructions provided.

Where to store GEL coins?

GEL coins can be stored in a variety of cryptocurrency wallets, including:

• Ledger Nano
• Trezor
• MetaMask
• Coinbase Wallet

It is important to choose a wallet that is compatible with the GEL token.

How to use Gelato Network?

To use Gelato Network, you will need to create a "Task." A Task defines the action you want to be executed, such as sending a transaction or swapping tokens.

Once you have created a Task, you can submit it to the Gelato Network. The network will then match your Task with a Runner who will execute it.

You can monitor the progress of your Task using the Gelato UI.

FAQs about Gelato Network and GEL coin

• What is the difference between Gelato Network and other automation protocols?

Gelato Network is unique in its open and decentralized nature. It allows anyone to become a Runner and earn rewards for executing tasks.

• What is the purpose of the GEL token?

The GEL token is used to pay for the execution of tasks on Gelato Network. It is also used to reward Runners for their work.

• What is the future of Gelato Network?

Gelato Network is still relatively new, but it has a promising future. The team has many plans for growth, including adding new features and integrating with more blockchains.