PANews reported on July 28 that according to on-chain analyst Yu Jin’s monitoring, since the Gate Launchpad new project Ika (IKA) supports USD1 investment, it attracts a large amount of USD1 to flow into Gate. Currently, Gate has become the second largest exchange in USD1 holdings, second only to Binance.

Yu Jin said that currently most of the USD1 is in the BSC chain, and a small part is in the ETH chain. Gate currently holds about $170 million USD1 on the BSC chain (the second largest exchange), and about 20 million on the ETH chain (the largest exchange), which is consistent with the current total USD1 investment of 196 million in Launchpad new projects.

It is reported that the Gate Launchpad new project this time is Ika (IKA), which supports users to subscribe with USD1 and GT. As of now, USD1 investment exceeds 196 million, and GT investment is 5.13 million ($94.1 million).