- Gate officially launched its Layer 2 network, Gate Layer, with full EVM compatibility.
- GT token strengthened with deflationary mechanisms, with over 60.18% already burned.
- Ecosystem growth strategy includes a DeFi trading hub, project incubator, and meme token platform.
Crypto exchange Gate has rolled out its new Layer 2 network, Gate Layer, alongside a major update to its GT tokenomics. The launch represents a significant step in Gate’s push toward faster, more cost-efficient blockchain adoption.
Built on the OP Stack and backed by GateChain as the settlement layer, Gate Layer is fully compatible with the Ethereum Virtual Machine (EVM), making it easy for developers and users to transition without technical hurdles.
Gate Layer is designed to solve persistent challenges in blockchain use, such as high gas fees and transaction delays. It can process over 5,700 transactions per second with a block time of just one second, outperforming traditional Layer 1 chains.
Transaction fees are among the lowest in the industry, with one million transfers costing under $30, compared to nearly $700 on Base and around $1,000 on Solana. The network also integrates with LayerZero for seamless cross-chain transfers across Ethereum, BSC, and Polygon.
Gate Layer Launches Under “All in Web3” Vision
Gate Layer’s release aligns with Gate’s “All in Web3” vision, and it focuses on developing a complete digital asset ecosystem. There will be three flagship products released on the network. Perp, as a perpetual futures trading hub, will use the high speed and liquidity of Gate Layer to support seamless exchange-like trading.
Gate Fun, a token release platform, will help small projects and artists take tokens to market without requiring large development teams or budgets. Meme Go will act as a real-time tracking and trading hub for meme tokens and will support instant transactions across large blockchains.
With these offerings, Gate aims to enable the whole lifecycle of activity by users from minting tokens to advanced trading. With lower barrier levels to entry, it aims to target not only developers but also casual users.
GT Tokenomics Upgrade Strengthens Value
Apart from the Gate Layer, the GT token has now been made the centerpiece of the ecosystem. All on-chain activity throughout the network will utilize GT as the single gas token, greatly enhancing its usage.
The token continues to operate with a double deflationary system of programmed burns and in-chain burns. With the release of the mainnet back in 2019, Gate has irrevocably burned over 180.5 million GT, which amounts to more than 60.18% of its original circulation.
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