GateToken (GT) is the native utility token of the GateChain ecosystem and the Gate.io exchange. It plays a crucial role in various functions within the GateChain network, such as paying transaction fees and participating in staking. GateToken is used for funding transaction fees, known as gas fees, and serves as a reward for the Proof-of-Stake (PoS) consensus mechanism on GateChain.
GT was issued in 2019 and has since become integral to Gate.io's operations, including its token buyback and burning mechanisms. These mechanisms aim to increase the token's value by reducing its supply over time. Users can obtain GT through trading on Gate.io, staking, or participating in various activities on the platform.
