Gate.io has grown significantly since its launch in 2013. It now serves over 8 million customers in more than 130 countries. Like any other top crypto exchange, Gate.io has a native token that powers it.
This article explores the trading platform’s native crypto, GateToken or GT. Read on to learn its tokenomics and use cases.
Understanding GateToken (GT)
As mentioned, GT is the native crypto for Gate.io, a popular exchange that offers a wide range of services, including copy trading, staking, trading bots, and a token launchpad. Further, users of the GateChain network use GT to pay gas fees.
So, when was GT launched? The token entered the market in March 2020. Its starting price was $0.25. Notably, it reached a new all-time high of $18.65 on January 11th, 2025.
Benefits of Holding GT
As a holder of GT on the Gate.io exchange, you get to enjoy trading fee discounts. According to data on the platform, users who pay trading fees in the futures or spot markets receive a discount of up to 50%.
Note that Gate.io specifies the amount of GT one needs to hold to become eligible for trading fee discounts. If your account is rated VIP 1, you must hold at least 100 GT to get a discount. Meanwhile, VIP 2 and VIP 3 account holders are required to own 500 and 1,000 GT, respectively.
Another benefit of owning GT is that holders get exclusive access to new crypto projects. That means they can invest early in projects with the potential to grow in the future. Also, GT holders are prioritized when it comes to accessing customer support.
GT Tokenomics
GateToken’s total supply is capped at 300 million tokens. According to CoinGecko data, about 125 million GT tokens are in circulation, with a market capitalization of $2.3 billion.
Here is GateToken’s Tokenomics:
1. 10% of the total supply is frozen.
2. About 41% is in circulation.
3. More than 49% of the GT supply has been burnt.
It is important to mention that Gate.io spends a portion of its profits to purchase back and burn its native token. But why does the exchange burn GT? Gate.io has implemented a burn mechanism to make GT scarce, thus boosting its value to benefit holders. Note that all token-burning events are verifiable on the blockchain.
Gate.io isn’t the only crypto exchange that has adopted a burn mechanism. Leading crypto trading platform Binance also burns its native token, BNB, periodically in an effort to bolster its value.
How Do You Get GT?
You can obtain GateToken in the following ways:
1. By buying it on Gate.io.
2. By running nodes on the GateChain network.
In this guide, we will demonstrate how to buy GT on Gate.io’s spot market. Here are the steps to follow:
1. Create a Gate.io Account
To register an account with Gate.io, download the exchange’s mobile app from the App Store or Google Play and click ‘Sign Up.’ Next, provide your email and verify it.
While you can start trading without completing the Know You Customer process, we advise verifying your identity to utilize Gate.io’s features fully.
2. Fund Your Gate.io Account
Gate.io offers several payment methods, making it convinient for users to deposit and withdraw funds. You can fund your trading account using the P2P platform, a crypto transfer, or a debit/credit card.
3. Create a Buy Order
After funding your account, press ‘Trade’ and then choose ‘Spot.’ Now, look for the GT/USDT trading pair and place a buy order by specifying the amount of USDT you want to spend on GateToken. Once done, click ‘Buy GT’ and wait for Gate.io to process your order. The purchased GT tokens will be deposited in your spot account shortly.
Should You Buy GT?
The decision to buy GT is up to you. Before purchasing the token, here are some details you should know:
1. The burn mechanism included in GT’s code can play a vital role in boosting the token’s value.
2. Since Gate.io’s GT holding is frozen, the risk of dumping is relatively low.
3. Holding GT in your ‘Earn account’ on Gate.io allows you to earn passively.
