GateToken - the native currency of the GateChain ecosystem. It helps to pay transaction fees on the GateChain network and also serves as a reward for placing PoS. This is important for the functions of the project.
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What is GateToken?
GateChain - a public blockchain network and product ecosystem with GateChain HipoSwap DEX (Decentralized Exchange). With the new network security account and "custom time-delay recovery", platform users can enjoy a high level of security. In addition, the project offers flexible, enterprise-grade multi-subscription accounts and an asset allocation service.
Project features:
| Transfers | It facilitates payments and token transfers across multiple blockchain networks. |
| Safety | GateChain aims to bring next-generation security to decentralized trading. So the project uses the new scraping mechanism as part of the GateChain Vault account. This system helps to reduce the impact and likelihood of asset theft and private key loss. |
| Mechanism | The network is secured, using a Delegated Proof-of-Stake (DPoS) consensus mechanism. Holders of GateChain's utility token, the GateToken (GT), can lock up their funds to earn staking rewards by contributing to the security of the network. This can be achieved by hosting an entire node or by delegating the stake to another node. |
The GateChain blockchain is capable of processing over 2,000 transactions per second (TPS). In addition, traders can enjoy low transaction fees and minimal slippage. The platform makes it easy for developers to migrate decentralized applications (dApps) from other blockchains by providing cross-chain functionality as a core feature. GateChian's flagship decentralized exchange (DEX), HipoSwap, also allows users to provide liquidity to earn trading fees.
Project benefits
GateChain aims to solve the very interesting and complex problems that have come along with blockchains without sacrificing any decentralized aspects or benefits. The ecosystem includes the main GateChain network, GateChain DEX, GT, wallets, forming an enterprise-level decentralized ecosystem that can store, issue and trade digital assets efficiently and securely.
The main advantages of the ecosystem:
| Transfers / payments | Using the wallet or client applications, users can send and receive GateTokens GT as well as popular on-chain assets. |
| Release of assets | Users can issue their own tokens to digitize and manage their assets. |
| Secure asset storage | With a unique storage account and purge mechanism, the account can be 100% protected with revocation/purge features against abnormal transactions. |
GT works as a stable incentive for staking users, ensuring the underlying health and stability of the ecosystem.
Tokenomics
The GateChain wallet pool offers a variety of encrypted wallet applications for a variety of use cases, from personal payments to corporate multi-signature solutions. The main network of the project will offer a wider range of wallet applications, including a command-line wallet, multi-signature wallets, a hardware wallet, and a mobile wallet for Android and iOS. In addition, developers can access the GateChain Application Programming Interface (API) and test it through the GateChain wallet. The best cryptocurrency exchanges to trade GateToken shares currently are:
- FTX;
- Huobi Global;
- Gate.io;
- HitBTC;
- LBank.
As an innovative public network, focused on the security of assets within the network, the platform introduces a number of new concepts. In addition, in terms of transaction security, the project has innovatively put forward the identification of the address type and the transaction type, so as to facilitate the user to identify the other account type and transfer type, so as to avoid the user's misoperation.