Gate

Gate, formerly known as GateToken, is the ecosystem token of the Gate cryptocurrency exchange and trades under the symbol GT. GT is the native coin of GateChain, the network developed by the exchange, and is also used as the gas token on Gate Layer, a network Gate rolled out later. The token also has a contract address on Ethereum.

On the exchange side, GT provides privileges such as discounts on trading fees and participation in various launch and earn programs on the platform. On the chain side, it is used to pay transaction fees and is staked to help secure the network; users who stake receive rewards in return. Gate also applies a policy of periodically buying back GT from the market and burning it, reducing the circulating supply.

For exchange tokens, the price depends largely on the issuing exchange's trading volume, its user base, the continuity of its buyback and burn policy and the regulatory conditions the exchange is subject to; operational problems at the exchange can also feed directly into the token. On the Gate page on Lzzo.com, price data is taken from DefiLlama's US dollar reference, and the chart is built from this source's historical data.