Gate.io will launch a blockchain with its own token and DEX Gate.io this Monday announced its own blockchain based on the Proof-of-Stake mechanism called GateChain, on the basis of which a decentralized exchange will later be launched.

Gate.io exchange will launch a blockchain with its own token and DEX

The Gate.io exchange this Monday announced its own blockchain based on the Proof-of-Stake mechanism called GateChain, on the basis of which a decentralized exchange will subsequently be launched.

According to the roadmap, the distribution of own tokens of the new GT blockchain will take place in the second quarter, the testnet will be launched in the third quarter, the mainnet and DEX in the fourth.. The GT token can be used to pay transaction fees and will be paid to miners as rewards. In addition, in the terms of use of GT, the possibility of collecting funds from a wide range of investors through the Gate.io platform is spelled out with its use. Also, GT tokens will be used to pay listing fees on DEX.

The initial issue of GT will be 300 million tokens, and the limit of 1 billion tokens will be reached after 10 years of existence of GateChain. At the first stage, part of the tokens will be distributed through various incentive programs for community members, and part - when investors acquire points, which will later be used to reduce commissions on the main platform.

Points and GT sales will start on April 8th at 07:00 UTC and will have a limit on the number of tokens distributed per day. USDT, BTC, ETH, EOS, BNB and HT are accepted to participate in the campaign. There are also special conditions for old Gate.io users and owners of VIP-levels, tokens between which will be distributed after the end of the first part of the campaign.

Of the total GT issue, 200 million tokens are reserved for funding research and development activities, 100 million for marketing, 200 million for community development, 200 million as rewards for mining and storing tokens. All of these tokens have a different reservation period and will be distributed over 10 years.

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