PANews reported on April 27 that, according to an official announcement, the on-chain burning of GateToken (GT) in the first quarter of 2026 has been officially completed. A total of 2,557,729.381387 GT were transferred to the burning address, with a burning value of over $20.68 million.
Since the Gate Chain mainnet launch in 2019, GT has been implementing a continuous burning mechanism, and has burned a total of 187,377,156 tokens to date, with a total value of over US$1.382 billion (calculated at current prices). The total supply of tokens has been reduced by approximately 62.46% from the initial 300 million tokens.
With the launch of Gate Layer and the gradual rollout of native applications such as Gate Perp DEX, Gate Fun, and Meme Go, the usage frequency of GT, as the only Gas token on Gate Layer, continues to increase. Simultaneously, Gate is driving the coordinated development of infrastructure and applications such as Gate for AI Agent, GateClaw, Gate.AI, and GateRouter, leading to a synchronous increase in on-chain transaction and interaction demand. Gate will continue to implement a long-term, stable GT burning mechanism, creating a closer positive cycle between the token economic model, real-world usage needs, and ecosystem expansion.
