Gate Launches Layer 2 Blockchain and GT Tokenomics Upgrade
Gate has introduced Gate Layer, a proprietary Layer 2 blockchain aimed at enhancing transaction speed and lowering costs.
The blockchain is built on the OP Stack and is compatible with Ethereum, using GateChain as its settlement layer.
Gate Layer supports the "All in Web3" strategy with tools like Perp for perpetuals trading, Gate Fun for token launches, and Meme Go for meme token tracking.
GT (GateToken) will be the exclusive gas token for Gate Layer and retains its dual burn model. Over 180 million GT have been burned so far, which is about 60% of its initial supply.
This move aligns with a trend where exchanges, including Coinbase, are developing their own Layer 2 solutions to increase on-chain user activity and enhance their ecosystems.
