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    GateChain's First-Ever Governance Voting Result&Bonus Announcement

    Create Time:2020-05-16 07:58:01 UTCRead:119800

    In the event of GateChain's First-Ever Governance Voting from May 13, 2020 to May 14, 2020, solution 2.1 with 2,378 supporters surpassed the other two solutions, winning 46,375,647 votes with the support of 87.06% from users. According to the rules, the rewards of 20,000GT have been distributed to voters’ accounts (no matter which solution they voted). Please check your account here: https://www.gate.io/myaccount/mypurselog

    Voting Result
    Solution 1.1: received 553,744 votes with 43 supporters, taking up 1.04% of the votes.
    Issue 300 million GC as mainnet token, with 40% airdropped to GT holders, 20% airdropped to the team, and another 40% for staking rewards. GC tokens are given through PoS mining with regard to staking rewards while GC tokens airdropped to GT holders and the team would be released linearly over the next 10 years.

    Solution 2.1: received 46,375,647 votes with 2,378 supporters, taking up 87.06% of the votes.
    Adopt GT both as platform and mainnet tokens without issuing GC. Take 30 million GT tokens from the team for staking rewards in which GT tokens are given with PoS mining.

    Solution 2.2: received 6,338,593 votes with 118 supporters, taking up 11.90% of the votes.
    Adopt GT both as platform and mainnet tokens without issuing GC. Take 30 million GT tokens (with 20 million from the team and 10 million from the GT Safety and Law Fund) for PoS awarding in which GT tokens are given with PoS mining.

    For more details on the result, please check here: https://www.gate.io/poll/votelist/15

    In accordance with the rules and the result, we will exercise solution 2.1: adopt GT both as platform and mainnet tokens without issuing GC; 30 million GT tokens from the team will be used for staking rewards in which GT tokens are given with PoS mining.

    For further details on GateChain's First-Ever Governance Voting, please check here: https://www.gate.io/article/17468

    Gate.io has launched GateChain Testnet 3.0 in April 2020. GateChain not only has its unique asset security features such as vault accounts. It also comes with great network capacity. Additionally, GateChain creatively presents a solution for security issues such as loss of private keys and assets being stolen. With the new GateChain underlying architecture and consensus mechanism, the performance in the testing environment reaches 2000+ TPS (Transactions per Second) and supports 1000+ validator nodes.

    According to the development scheme, GateChain Testnet 4.0, the last Testnet, will be released in May 2020. The launch will ultimately determine all the PoS parameters. However, the most important thing is how to stimulate mining under PoS and maintain a stable network.

    After GateChain Mainnet is launched, we will focus our efforts on cross-chain implementation, trying to connect GateChain with BTC,ETH,Cosmos,Polkadot and Zcash networks, enabling our users to enjoy the high market capitalization, smart contracts, Decentralized Finance of those networks while making sure their capital is secured with GateChain.

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    May 16 2020

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