Announcement: 2023 Q4 GT (Gate Token) Burn

As the utility and gas token of GateChain, Gate Token (GT) underpins the fundamental transfer system of GateChain. Since the launch of GateChain in 2019, the regular burning of GT has reduced its initial total supply by approx. 55%, from 300 million to the current 133 million, continues to decrease. In 2023, we will continue to implement the GT burning mechanism in a legal and compliant manner. We will regularly transfer the amount of GT to be burnt to the burning address until GT’s actual circulation drops below 100 million.

In this round, a total of 2643816.7186813 GT will be transferred to the on-chain burning address,which is an increase of 132.87% over the last quarter. The transaction can be viewed at the on-chain burning address: https://etherscan.io/tx/0x6487bb7621874ef423f2dac7bad92805b187616de0ba5d1b347ce42f82d783e1

Up to now, 166.4 million GT tokens have been burned, with approximately 103 million GT tokens remaining in circulation. In 2023, 7,384,578.6502 GT were burned, representing approximately 7% of the year's actual circulating volume.

In this quarter, we explored integrating some high-quality Layer 2 scaling solutions, such as EVM-Compatible ZK Rollups and Optimistic Rollups, into the infrastructure construction of GateChain. At the same time, we are keeping up with the forefront of technology by starting the development of customized chains based on Layer 3 and introducing the latest achievements in decentralized technology into the infrastructure construction of GateChain. We aim to provide high-performance technical support for the widespread adoption of future Web3 ecosystems through the development of scaling technologies.

Further enhancing our ecosystem, Gate.io integrates Web3 technology into our newly launched inscription platform to deliver a comprehensive one-stop service for users. Beyond the powerful inscription trading market offered by the centralized platform of Gate.io, the GateChain ecosystem wallet, Gate Wallet, now sets the standard by supporting an array of popular inscription-related services, such as storage, receipt, and trading for widely recognized formats including BRC20, ETHS, among others. In addition, we've introduced the Inscription Launchpad and Inscription Navigation tools, providing a user-friendly interface for exploring new inscriptions and a streamlined, comprehensive navigation service throughout the inscription industry. By integrating CEX with Web3, Gate.io aims to bring cutting-edge asset management technologies, reducing costs for our users, and providing an unparalleled Web3 experience.