KEYTAKEAWAYS
- $GT provides multiple benefits, including trading fee discounts, VIP upgrades, and access to exclusive airdrops and new token offerings on Gate.io.
- Users can acquire $GT through spot trading on Gate.io, with future opportunities to earn via GateChain mining mechanisms like PoW and PoS.
- Holding $GT unlocks exclusive privileges, such as early access to financial products, discounted crypto purchases, and participation in Gate.io's growth initiatives.
CONTENT
$GT is the native token of Gate.io, offering trading discounts, VIP perks, and access to exclusive promotions and investment opportunities within the Gate.io ecosystem.
WHAT IS $GT?
$GT (GateToken) is the platform token issued by the Gate.io exchange, closely tied to its development. Holding $GT provides users with several benefits, including:
✎ VIP Level Upgrades: Holding $GT allows users to upgrade their VIP level and enjoy lower trading fees.
✎ Trading Fee Discounts: Users can use $GT to pay for trading fees at a discounted rate, reducing overall costs.
✎ Participation in Activities: $GT holders can join various promotions, airdrops, and voting events on the Gate.io platform.
✎ New Project Subscriptions: Through Gate.io’s Initial Exchange Offerings (IEOs), users can use $GT to participate in the purchase of new project tokens.
Additionally, Gate.io launched its public blockchain, GateChain, in March 2020, focusing on efficiency and security.
It features an innovative on-chain hot insurance account, designed to provide enhanced protection for decentralized transactions.
In the future, GateChain aims to support more decentralized finance (DeFi) applications and integrate multiple DeFi services through the HipoDeFi platform, offering a comprehensive financial ecosystem.
Currently, GateChain is still in its development stage, with plans to establish a more complete ecosystem in the future.
Users interested in learning more can refer to the GateChain whitepaper for detailed information.
>>> More to read: What Are Exchange Tokens & How Do They Work?
HOW TO OBTAIN $GT?
Initially, $GT was distributed for free through the purchase of Gate.io trading point cards, with an initial issuance of 1 billion tokens.
Over time, the platform has continuously burned tokens, reducing the current supply to approximately 160.8 million (more than 80% burned).
Among these, 30 million tokens are frozen by the Gate.io exchange, leaving an actual circulating supply of 130.8 million.
Currently, it is no longer possible to obtain $GT for free through trading point cards.
However, users can acquire $GT directly on the Gate.io exchange through spot trading, with the available trading pair being GT/USDT.
According to official sources, in the future, users will also be able to obtain $GT through GateChain mining, which will include the following mechanisms:
- PoW (Proof of Work): Users can mine $GT by contributing computing power to the network.
- PoS (Proof of Stake): Users can stake their $GT tokens to participate in network operations and earn rewards.
Currently, further details regarding GateChain mining have yet to be announced.
Once additional information becomes available, the platform will provide updates, and we will continue to cover new developments to help users better understand how to acquire $GT.
>>> More to read:
$GT HOLDING BENEFITS
1. VIP Level Upgrades and Trading Fee Discounts
Like other platform tokens, $GT can be used to offset trading fees on Gate.io, with higher VIP levels offering greater discounts:
- VIP0 to VIP9: Enjoy a 25% discount on trading fees.
- VIP10 to VIP16: Enjoy a 45% discount on trading fees.
Users with VIP11 and above can benefit from a -0.01% maker fee, meaning they will receive a rebate from the exchange when placing maker orders.
There are two ways to upgrade VIP levels:
- By meeting both “trading volume + $GT holdings” requirements.
- By only meeting the “$GT holdings” requirement, though a higher amount is needed.
For instance, to upgrade from VIP0 to VIP1, users must have a trading volume of 1.5 BTC or hold 20 $GT, or alternatively, hold 100 $GT.
2. Token Airdrops (Voting & Single Token Airdrops)
- Voting Airdrops: Users can vote between two competing projects, and the one with the highest votes will be listed on Gate.io.
- Regardless of which project a user votes for, they will receive rewards proportionate to their voting amount in the winning project’s tokens.
- Single Token Airdrops: Similar to voting airdrops but with only one project available for voting, and users will receive rewards proportionate to their votes.
- Simply holding $GT and participating in voting allows users to earn free token rewards.
3. Mainstream Crypto Financial Products
- Gate.io’s HODL & Earn products offer early access privileges to VIP and $GT holding users.
- Some projects open for VIP3 and above users 10 minutes before public access, with order limits based on the lowest $GT holdings over the past 14 days.
- Popular projects may sell out within the first 10 minutes, giving VIP users a first-mover advantage.
- Some mainstream crypto products offer an annualized yield of over 10%, making early participation advantageous.
4. Discounted Purchases of Mainstream Cryptos
- Gate.io offers discounted mainstream cryptocurrencies to $GT holders who can purchase them using USDT.
- The platform then uses the collected USDT to buy back and burn $GT, enhancing its value.
- For example, in a “BTC 20% Off” event, Gate.io offered BTC worth 250,000 USDT at an 80% price to VIP4 and above users.
- The collected USDT was then used to repurchase and burn $GT, amounting to 200,000 USDT in value, effectively offering an 80% discount (200,000 / 250,000 = 80%).
5. Startup Initial Offerings
- Users can participate in Startup Initial Offerings by locking specific tokens to support new coin listings, similar to IPOs in the stock market.
- Many Startup projects require a minimum VIP1 level for participation, allowing users to acquire potential tokens at an early stage.
Holding $GT offers multiple benefits, including reduced trading fees, access to airdrop rewards, participation in new listings, discounted mainstream crypto purchases, and exclusive financial product opportunities within the Gate.io ecosystem.
>>> More to read: What Are Leveraged Tokens? A Beginner’s Guide
$GT | GATE.IO SUMMARY
As Gate.io continues to expand its presence in the market, the value of its platform token, $GT, is expected to rise accordingly. When compared to other platform tokens, $GT shows significant growth potential.
Holding $GT on the Gate.io exchange comes with numerous benefits and advantages.
If you are a loyal Gate.io user, it is advisable to plan your holdings based on your desired VIP level. Ideally, holding at least 100 $GT to unlock VIP1 status can grant access to various exclusive benefits and promotional activities.
However, this is just a basic overview of the $GT platform token.
When it comes to trading knowledge and personal investment risks, it is strongly recommended that investors thoroughly understand all aspects before making any actual investment decisions.
