Gate.io plans for further destruction of Gate Token (GT).

GT is a utility token on GateChain, with a total issuance of 300 million, which has been deflated to less than 133 million, and the actual Circulating Supply has approached 100 million. In the future, we will always adhere to the GT destruction deflationary strategy, and the current plan is as follows:

1. Gate.io will destroy the GTHoldings in the GT insurance fund to ensure that the GTHoldings in the insurance fund does not flow to the market again. And allocate USDT, USDC, BTC, ETH and other mainstream assets in the insurance fund, and the goal at this stage is to reduce the total amount of GT from the current about 133 million to less than 100 million.
2. After the total amount of GT is reduced to less than 100 million, a new target for reducing the total number of GT will be proposed and implemented.
3. An on-chain burning mechanism will be introduced to consume GT as Gatechain's on-chain gas fee, and more GT will be burned as on-chain transfers are busy.
In the future Gate.io will continue to explore more and better deflation solutions based on the development of industry technologies (such as Zero-Knowledge Proof-based scaling technology) and the regulatory environment.

See more details: https://www.gate.io/article/34407