GT or GateToken is the native token of Gate.io that comes with various benefits such as granting VIP status for its holders depending on the held amount, deducting some transaction fee, granting the right to participate in bonus campaigns, and many more.
In addition, GateToken is also the native currency on GateChain, a blockchain network created by Gate.io. It is used to pay gas fees for any activities on the network.
What is GateChain?
GateChain is a blockchain network created by Gate.io. It is a public blockchain that focuses on on-chain asset safety and decentralized trading. It also features functions for handling abnormal transactions.
GateChain utilizes a Proof-of-Stake consensus algorithm, where GateToken holders can lock (stake) their tokens on the network to help validate transactions and secure the network. Users who stake their tokens will be rewarded with GateTokens.
In addition, GateChain also supports EVM or Ethereum Virtual Machine, allowing developers to create applications on the blockchain.
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