According to the official announcement, the on-chain destruction of GateToken (GT) in the third quarter of 2025 has been officially completed, with a total of 2,100,414.287861 GT transferred to the destruction address, with a destruction value exceeding 35.32 million dollars.
On-chain transaction details can be found at: https://etherscan.io/tx/0x8d47384c2af471180bcacd630cba9d9a42fdfcc7c8b30836478a5f91deb77e29
GT (GateToken) is the core platform coin of Gate and the native asset of GateChain. As a Utility Token and Gas Fee payment token on GateChain, GT supports the underlying transfer system of GateChain. Since the launch of the GateChain mainnet in 2019, GT has implemented a continuous destruction mechanism, with the total token supply significantly reduced by approximately 60.88% from the initial 300 million. Despite experiencing multiple rounds of market fluctuations, Gate has consistently adhered to a prudent destruction strategy, demonstrating a long-term commitment to the deflationary mechanism of GT, which also lays a solid foundation for its value support.
This time the destruction of key information
- The number of tokens burned this time: 2,100,414.287861 GT
- The value of this destruction: approximately 35.32 million USD
- Total cumulative destruction amount: 182,655,526 GT
- Total value of cumulative destruction: approximately 2.955 billion USD (calculated at current prices)
With the official launch of the high-performance Layer 2 network Gate Layer, and the successive launch of innovative applications such as the decentralized perpetual contract trading platform Gate Perp DEX, the on-chain launch platform Gate Fun, and the real-time trading and monitoring platform Meme Go for all-chain Meme coins, the core role of GT in the entire Gate ecosystem is continuously strengthening. As the only Gas token for Gate Layer, the on-chain use cases and demand for GT are continually rising with the expansion of the ecosystem.
In the future, Gate will continue to improve the underlying capabilities of GateChain, focusing on enhancing core functions such as decentralized accounts, and comprehensively enhancing network performance and security. At the same time, the platform will accelerate the expansion of diversified services such as wallets, trading, asset management, NFTs, and Memes. Web3 Application scenarios promote the deep development of the ecosystem and further consolidate the All in Web3 strategic layout.
Gate will firmly implement the GT destruction plan, steadily advancing the deflation process under legal and regulatory conditions, continuously enhancing the scarcity and long-term value of GT. With a constantly improving ecosystem and technological innovation, Gate is providing a richer Web3 experience for global users with a safer, more efficient, and open blockchain infrastructure, jointly building a prosperous crypto future.
About Gate
Gate was founded in 2013, and the founder and CEO is Dr. Han. It is one of the world’s leading cryptocurrency trading platforms. The platform serves over 41 million users and supports trading of more than 3,600 types of crypto assets. As an industry benchmark, Gate was the first to achieve 100% reserve proof, with an ecosystem that includes various services such as Gate Wallet and Gate Ventures, and has established global partnerships with top sports brands like the F1 Red Bull Racing team and the Italian football club Inter Milan.
For more information, please visit:
Website | X | Telegram | LinkedIn | Instagram | YouTube
