GateToken (GT) destroyed a total of 1,542,910.7518074 tokens in the first quarter of 2025, steadily solidifying long-term value.

According to the official announcement, the on-chain destruction of GateToken (GT) has been officially completed for Q1 2025, with a total of 1,542,910.7518074 GT transferred to the burn address, with a destruction value exceeding 33.84 million USD.

On-chain transaction details can be viewed:

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, and the total token supply has significantly decreased by about 59.54% from the initial 300 million tokens. Even through 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.

Key information for this destruction:

●The number of tokens destroyed this time: 1,542,910.7518074 GT

●Value of this destruction: approximately $33.8452 million

●Total amount burned: 178,632,323 GT

●Total value of cumulative destruction: approximately 3.92 billion USD (calculated at current prices)

In the future, GateChain will continue to upgrade its core functions, including DA, to ensure the efficiency and security of the network, and expand the Web3 ecosystem such as wallets, transactions, wealth management, NFTs, and Memes to improve user experience. As more apps and public links are added, GT will play an even more enabling role. In addition, GT holders can also enjoy exclusive benefits such as new coin airdrops, new coin mining, and GT mining. Gate will firmly implement the GT burn plan, steadily promote the deflation process under the premise of legal compliance, continue to enhance the scarcity and long-term value of GT, and promote the development of the crypto industry in a more standardized, secure and efficient direction, provide richer blockchain services for global users, and jointly build a prosperous Web3 ecosystem.

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