GateToken (GT) 2026 Q2 On-Chain Burn Completed, Cumulative Burn Value Exceeds $1.311 Billion

Odaily Odaily News According to an official announcement, the on-chain burn for GateToken (GT) in the second quarter of 2026 has been officially completed. A total of 2,570,063.3829548 GT have been transferred to the burn address, with a burn value exceeding $17.75 million.

Since the launch of the Gate Chain mainnet in 2019, GT has implemented a continuous burning mechanism. To date, a cumulative total of 189,947,219 GT have been burned, with a total cumulative burn value exceeding $1.311 billion (based on the average quarterly price). The total token supply has been significantly reduced by approximately 63.32% from its initial 300 million tokens.

As the sole gas token for Gate Layer, the usage frequency of GT continues to increase. 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. Furthermore, Gate is continuously enriching its product ecosystem. Gate Stock has established a 7×24 hour trading service system covering three core markets: US stocks, Hong Kong stocks, and Korean stocks. This service covers over 12,500 global stocks and ETF assets, supports fractional share trading starting from as low as 0.01 shares, and grants eligibility for stock dividends. The platform also supports cross-broker transfer of US and Hong Kong stocks, as well as corporate actions such as stock splits and reverse splits, further optimizing the stock investment service experience. Gate will continue to implement a long-term and stable GT burning mechanism, creating a more tightly integrated positive cycle between the token's economic model, actual usage demand, and ecosystem expansion.