- GateTokens is the base token of the Gate.io ecosystem.
- GT holders have exclusive offers and discounts.
- It follows the delegated PoS consensus mechanism.
GateToken is the native token of the GateChain ecosystem, which was launched in 2020. The processes of trading, buying and selling can be performed on the same platform. GTs can be stored in both hardware and software wallets.
What Is A GateToken?
GT, or GateToken, is the native token of the GateChain public chain. It is one of the unique exchange tokens of the Gate.io centralized cryptocurrency exchange. It uses the PoS consensus mechanism. It is used to power the platform and pay transaction fees on the GateChain network. It facilitates liquidity between cryptocurrencies. It has been the native utility token since March 2, 2020.
The holders of GateToken receive exclusive offers and discounts on token purchases when performing Crypto Lending, Spot Trading, Future Trading, airdrops, and other exclusive perks. The holders also enjoy a convenient trading experience while getting fast transactions and low fees. The holders can participate in the voting programs for projects that are listed on Gate.io. The GT token has deflationary properties according to the buyback-and-burn mechanism. It is needed for deploying smart contracts and decentralized apps on the network.
The holders can lock up their funds to earn rewards and secure the network. It can be purchased on several cryptocurrencies but the top two exchanges for buying GateTokens are Huobi Global and Gate.io.
The four quick steps to buying GateToken are to choose a cryptocurrency exchange first and then create an account. Then deposit funds and purchase GateToken. The wallets for storing GateToken are both software and hardware wallets. The GateTokens can be easily sold on the same trading platform where they are purchased. First, sign in to the exchange account where the user has GT, then place a sell order and complete the transaction.
The Use Cases Of GateToken
The GateToken has the following use cases:
- Intrinsic Investment Value
The exchange aims to increase the applications and use cases of GT to improve the intrinsic investment value.
- Payment Method
The Gate.io exchange is used by GT to pay trading fees and then allows users to receive discounts based on transaction volume.
- Exclusive Activities Participation
The holders of GT can get access to exclusive and high-profile events such as live mainstream, vote campaigns and discount sales.
- VIP Tier Escalation
Users have the opportunity to upgrade their VIP level to enjoy exclusive benefits with GateTokens.
Conclusion
GateToken plays an important role in the GateChain ecosystem. It is traded, purchased, and sold on the exchange, Gate.io. It relies on the market position to gradually expand GT’s scope and increase its intrinsic value. GT holders can deduct processing fees, upgrade VIP levels, and participate in bonus campaigns. GT has long-term earning potential. Its value continues to gain significant traction with actively growing volume and market capitalization since it was introduced as the base token of the Gate.io ecosystem in 2020.
