PANews reported on October 15 that according to an official announcement, the on-chain destruction of GateToken (GT) in the third quarter of 2025 has been officially completed. A total of 2,100,414.287861 GT were transferred to the destruction address, with a destruction value of more than US$35.32 million.

Since the launch of the GateChain mainnet in 2019, GT has been implementing a continuous destruction mechanism. As of now, a total of 182,655,526 GT tokens have been destroyed, with a total destruction value of approximately US$2.955 billion (calculated at current prices). The total token supply has been significantly reduced by approximately 60.88% from the initial 300 million.

Furthermore, with the launch of Gate Layer and the gradual formation of a number of native application ecosystems, including Gate Perp DEX, Gate Fun, and Meme Go, Gate is accelerating the construction of a comprehensive on-chain ecosystem. As the sole gas token on Gate Layer, GT has seen a significant increase in usage across various scenarios, including transactions, interactions, and governance, and on-chain demand is showing a steady upward trend.

The transaction details on the chain can be found at: https://etherscan.io/tx/0x8d47384c2af471180bcacd630cba9d9a42fdfcc7c8b30836478a5f91deb77e29