Gate.io Launches Trading With Own Exchange Token
Cryptocurrency exchange Gate.io launched on Sunday, April 21, trading with its own token Gatechain Token (GT). The new coin is trading in GT/USDT and GT/BTC pairs.
The GT Token is the currency of Gatechain’s upcoming blockchain to participate in the initial exchange offerings (IEO) on Gate.io.
In addition to the GT token, Gate Points are also provided for at Gate.io - they are designed to lower commissions for trade transactions, in addition, each Gate Point exchanges for 2.5 GT. The launch of Gate Points is expected in the fourth quarter of 2019, but already this week the stock exchange reported that it had raised $ 64 million in cryptocurrencies to launch GT. At the same time, the originally planned amount of Gate Points subscription turned out to be significantly exceeded - the exchange estimated the total amount of bids at $ 2.99 billion.
Gate.io’s plans also include launching a decentralized exchange. With the help of the GT token, users will be able to pay transaction fees and listing on DEX and attract investments. Miners will receive a token as a reward.
At the same time, Gate.io announced the first IEO on its platform.