Svmuu News: According to an official announcement, the on-chain burn of GateToken (GT) for the second quarter of 2026 has been officially completed. A total of 2,570,063.3829548 GT were transferred to the burn address, with a total value of over $17.75 million.
Since the Gate Chain mainnet launched in 2019, GT has implemented a continuous burn mechanism, To date, a cumulative total of 189,947,219 GT have been burned, with a cumulative total value exceeding $1.311 billion (based on the quarterly average price). The total token supply has been significantly reduced by approximately 63.32% from the initial 300 million.
As the sole gas token on Gate Layer, GT is being used with increasing frequency. As the underlying infrastructure, Gate Layer provides high-performance network support for applications such as Gate Perp DEX, Gate Fun, Gate Meme Go, and Gate Swap. In addition, Gate is continuously expanding its product ecosystem, Gate Stocks has established a 24/7 trading service system covering three core markets—U.S., Hong Kong, and South Korean stocks—with over 12,500 global stocks and ETFs. It supports fractional share trading starting from as little as 0.01 shares and grants investors the right to receive stock dividends. The platform also supports transferring positions between U.S. and Hong Kong stockbrokers, as well as corporate actions such as stock splits and reverse stock splits, further optimizing the stock investment experience. Gate will continue to implement a long-term, stable GT burn mechanism, creating a tighter positive feedback loop between the token economic model, real-world usage needs, and ecosystem expansion.