GateToken (GT) destroyed a total of 1,542,910.7518,074 pieces in the first quarter of 2025, steadily consolidating long-term value

According to the official announcement, the on-chain destruction of GateToken (GT) in Q1 2025 has been officially completed. A total of 1,542,910.7518,074 GTs were transferred to the destruction address, with a destruction value of more than US$ 33.84 million.

The details of on-chain transactions can be found at: https://etherscan.io/tx/0x07d08231fb04140708621348b3e030978c4feedceb4113f214cf085732ce9ec4

As Utility Tokens and Gas Fee payment tokens on GateChain, GT supports GateChain's underlying transfer system. Since the GateChain main network was launched in 2019, GT has implemented a continuous destruction mechanism, and the total token volume has dropped by about 59.54 % from the initial 300 million. Even after experiencing multiple rounds of market volatility, Gate has always adhered to the steady implementation of the destruction strategy, demonstrating its long-term commitment to the GT deflation mechanism and laid a solid foundation for its value support.

Key information for this destruction:

●The number of destructions this time: 1,542,910.7518074 GT

● The value of this destruction: approximately US$ 33.8452 million

●Total cumulative destruction: 178,632,323 GTs

● Cumulative total destruction value: approximately US$3.92 billion (calculated at current price)

In the future, GateChain will continue to upgrade its core functions including DA to ensure the efficiency and security of the network, and expand the web3 ecosystems such as wallet, transactions, financial management, NFT, Meme, and improve user experience. With more applications and public links in, GT will play a greater role in empowering. In addition, GT holders can also enjoy exclusive benefits such as SGD airdrop, SGD mining and GT mining. Gate will firmly implement the GT destruction plan, steadily advance the deflation process under the premise of legality and compliance, and continuously enhance the scarcity and long-term value of GT, while promoting the development of the crypto industry in a more standardized, secure and efficient direction, providing global users with richer blockchain services, and jointly building a prosperous Web3 ecosystem.

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