The GateToken is a subset of the GateChain network which is a globally recognized agency that facilitates the funding of cryptocurrency platforms. The company has its headquarters based in Hong Kong, and according to the principal partners, it is designed to cater for high-difficulty transactions via a protocol that delivers a clearing mechanism that takes care of the challenges that endanger the world of cryptocurrency transactions such as asset theft, loss of private keys and general attacks on the system.
The Gate chain is a public blockchain that was created specifically to ensure the security of digital assets. The token also presents users with several other unique opportunities and its vast use case. One of these is the system’s on-chain security account which also features a customizable time-delay recovery designed to increase the level of digital asset security within the world of blockchain even if the system has been compromised.
Who are the Founders of GateToken (GT)?
The GateToken platform was established by Aurélien Menant as an exchange-based token on both the Bitcoin and Ethereum networks in Hong Kong.
Menant is a well-read individual with several degrees in different fields. He started at the Pierre and Marie Curie University where he obtained a bachelor’s degree in physics and engineering. In 2006, he went on to the Ecole Normale Supérieure and earned a master’s degree in civil engineering. Afterward, he drifted into the world of finance and obtained an MBA in Finance at COPPEAD UFRJ. Around the same time, he also went to the Emloy Business school to further his education in finance.
When Menant completed his education, he began his career in the world of investment banking, where he worked on financial transactions, as well as M&A for large-scale CIBs in Hong Kong and Europe. After working for a few years, he quit his investment banking job in 2013 and started the GateToken platform. Prior to this time, he had already made a name for himself in the blockchain community and was often invited to give speeches relating to its application in the future of finance at different summits. Some of these include the Global Conference on Money Laundering and Digital Currencies (Qatar), Euromoney’s Capital Markets Blockchain Conference (Hong Kong), and The Future of Finance Summit (Singapore).
Additionally, Menant has also given several lectures on blockchain technology and cryptocurrencies in general at several universities across Hong Kong.
What is GateToken (GT) used for?
According to the founding parties of GateToken, the main reason for its creation was to provide security to blockchain-based assets. To achieve this, the platform uses a collection of dedicated protocols and its decentralized token GT which serves the entire ecosystem. The token is used to settle transaction fees incurred on the GateChain network. This allows the participants of the GateChain network an avenue to invest in a wide variety of digital assets and other blockchain products via the token. It is also the primary currency of the GateChain ecosystem stocks.
GateToke is an outstanding digital asset of the Gate.io exchange platform and is based on the technology used in its creation, or operates on similar logic to the Binance exchange’s BNB coin.
What Is the Unique Point of GateToken (GT)?
The GateToken is similar to most of the available cryptocurrencies in the world in that it serves a plethora of use cases, however, one of its major strong points is its user-oriented nature. This design principle ensures that the users gain several advantages from being part of the network. Some of these unique advantages are the following:
● Discounts on trading fees.
Although several other blockchain networks offer their users reduced fees on executing transactions, the discounts on the GateToken extend beyond just regular transfers but reach the point of covering Future Trading, Crypto lending, and also Spot Trading.
● Buyback Program
According to the Gate.io network, the platform set out to start a system whereby 20% of the profits made from the platform’s operation are set aside for GT token’s buyback and burn. For this to be achieved, around 75% of the tokens are bought from the market and 25% is from the reserve for marketing and growing the ecosystem. The network also added that this exercise will feature a report which will be published quarterly to ensure all transactions are readable to the points of origin.
How many GateToken (GT) coins are in circulation?
When the GateToken platform was created, a total of 300,000,000 tokens were minted. The GT platform operates like most of the other cryptocurrencies based on the Binance smart chain which has a burning mechanism. This mechanism ensures that the value of the tokens is kept intact after the initial time distribution. The total amount of tokens that have been burned is pegged at 139,172,923.76216168.
The total token supply of GT in circulation is 160,827,076.23783832. However, 30,000,000 GT tokens of this total amount have been kept in store, thus bringing the actual amount back to 130,827,076.23783832.
Is the GateToken (GT) Network secured?
Apart from ensuring the highest level of security for its servers, the GateToken platform also secures the assets of the users with a dedicated collection of protocols. These security measures put in place by the GateToken network include Login verifications, SMS 2FA, Anti-Phishing code, Two-factor authentication (2FA) with Google Authenticator, and a collection of others.
While the network was breached in 2019, the system came back stronger and not only returned the funds that were stolen but also included additional layers of security to increase protection on the platform and prevent further malicious activities from being perpetrated on the platform.
How do I buy GateToken (GT)?
In general, the Gate.io platform, the parent exchange of the GateToken was initially designed for experienced traders who value the level of security provided by the token. However, presently, the system has made some adjustments to provide access and learning facilities to novice traders. This, and a collection of other reasons have helped its tokens become a top seller across several exchanges. GateToken is available in popular exchanges such as Huobi Global, FTX, Gate.io, and Pionex.
Which Cryptocurrency Wallet Supports GateToken (GT)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as GateToken (GT). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their GateToken wallet because it offers a simple and interactive interface making it easy for people to navigate its system.
