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Gate.io launches ERC20 GT and Enables Deposit and Withdrawal Services

2019-05-10 02:47:59read:115601

GT and Gatechain

GT is the base currency of Gatechain's public chain. GateChain is an innovative public chain focused on secure storage and value exchange of Blockchain assets. Gatechain solves the threat of the user's digital assets being stolen and loss of the private key. Innovative features include decentralized transactions and cross-chain transfers. Gatechain creatively solves two safety issues, including,
1) how to recover stolen digital assets
2) how to find lost private keys.

Gatechain public chain will be launched at the end of 2019.


ERC20 Based GT


Many users are expecting the information of GT fund holdings to be searchable before the mainnet is launched. We understand the urge, we have thus addressed users requests by developing an ERC20 based GT smart-contract, and we have completed the contract code audit. The current smart contract supports the token burn. After the launch of Gatechain mainnet, we will continue to collect and burn the ERC20 based GT.
Smart contract address: 0xE66747a101bFF2dBA3697199DCcE5b743b454759
Decimal Places: 18
Source code of smart contract: https://etherscan.io/address/0xe66747a101bff2dba3697199dcce5b743b454759#code

Before the launch of Gatechain mainnet, the max supply is 300 million GT. Therefore, as in the smart contract, we have limited the max issuance to 300 million GT. The token allocation information is as follows:

1) 200 million GT has already been distributed during the first phase and second phase of POINT Sale and GT Reward. The distributed GT is now in circulation (current circulation amount: 174 million), the address is:
0x0d0707963952f2fba59dd06f2b425ace40b492fe

2) The remaining 100 million GT will be released through POINT Sale rewards and will be placed on the circulation address. After one year, the undistributed GT will be burned. The address for the remaining 100 million GT (current amount: 100 million) is:
0xaaac1183d07c69f5befd22a06211690e953dca17

Important Note:
*The locked-up GT from Startup projects is also included in the circulation supply.

3) GT Safety and Law Fund have already purchased 26 million of the current circulation supply (200 million) at an average price of 0.7301USDT/GT. The address for GT Safety and Law Fund (current amount: 26 million) is:
0x9bbe47fe66b3580551aac3124cf9fc6560252b19

The deposit and withdrawal services of ERC20 based GT are now available. Users can now withdraw GT and store it in any wallets that support ERC20 token (check out our recommendation Wallet.io), or on other platforms.

Please note that once the deposit and withdrawal services are available, the balances of GT on the contract address should vary. Users can verify GT circulation by withdrawing GT. Check the balances of GT at https://etherscan.io/token/0xe66747a101bff2dba3697199dcce5b743b454759#balances

Users can also check the transactions of large amount through mobile App. Please go to Gate.io Mobile App - GT trading interface - Data Analysis - Large Transaction.


The GT Safety and Law Fund

Gate.io has experienced hundreds of legal cases and judicial investigations related to blockchain security in the past few years, involving hundreds of millions of dollars. With extensive experience in technology tracking and judicial processing, Gate.io understand the importance of the security-legal to the Blockchain industry.
Gate.io will repurchase GT from the open market and gradually establish a 50 million GT-scale security legal fund.
Through legal, judicial, commercial insurance, wallet technology and other means, Gate.io is committed to building a safe, compliant and healthy Blockchain asset protection platform on a global scale.
For the industry users, and especially the platform users, Gate.io will provide global Blockchain technical tracking and legal assistance when funds are stolen, defrauded and other events.


Sources of Funding of the GT Safety and Law Fund

Currently, the funding of the GT Safety and Law Fund are all from Gate.io's revenue, with no third-party donation. To maintain the healthy development of the fund, we will gradually increase the holdings of the fund and include other funding sources such as investment returns and others.


The Current GT Safety and Law Fund Holdings

Gate.io has purchased GT from the open market. Currently, 26,000,000 GT were purchased, at an average price of 0.7301USDT/GT. The original transaction data is preserved for possible third-party auditing.


Traceable GT Fund Holdings

To ensure transparency, after the launch of Gatechain Mainnet, GT fund will be migrated to Gatechain Mainnet, where all the GTs are traceable and securely protected. Before the launch of Gatechain mainnet, GT fund will be stored on ERC20 token address, where the fund can be traceable. The address is :
0x9bbe47fe66b3580551aac3124cf9fc6560252b19

We sincerely appreciate your continuous support. Stay tuned for more innovative products from Gate.io!

Gate.io is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
Get 30% trading fee in the affiliate program at https://www.gate.io/myaccount/myreferrals

Gate.io New Features:
Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT
Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT
Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD
Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT
C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny
Download Gate.io APP:https://www.gate.io/mobileapp
Download Wallet.io (ALL in ONE):https://www.wallet.io/

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Gate.io
May 9, 2019