Dear Gate.io users and industry partners,
We would like to start off by thanking you for your continued support and dedication to Gate.io. We started in 2013 and have been pursuing the development of our upgrade in the industry for the past six years. So, a big thank you to all of Gate.io’s global partners.
Over the past six years, we have insisted on not accepting listing fees, on stopping fraudulent trading, and not allowing wash trading in regards to volumes, and always placing the safety of the exchange as our priority. Gate.io is a platform with character. Our commitment to safety and continuous product development, coupled with passion and trust towards our platform, has been key in ranking amongst the top 10 global exchanges and having 3 million users with real trading volume.
Gate.io has a lot of different services to suit users’ needs. A safe and easy-to-use all-crypto wallet; Wallet.io. A public chain that addresses the core issue of asset security in the industry; GateChain (Testnet). An industry-leading product matrix: crypto tradings, leverage trading, perpetual contracts, crypto wealth management, fixed-term investment, mortgage lending, Startup, and the list goes on.
In regards to some recent misleading news on the Internet, we would like to clarify as follows:
1. About Startup
We are serious and follow strict procedures when it comes to our crypto-listings. We have a strict auditing mechanism, adhering to the principle of openness and transparency, to independently uate the project, and never charge any listing fees. We strive to have an in-depth understanding of each project that applies and conduct assessments of each project as broadly as possible. Based on the preliminary assessment results, we then further screen for reliable and sustainable projects to ensure the quality of the projects listed.
We are serious and follow strict procedures when it comes to the project teams involved in “Startup.” We have strict limits, and the project needs to lock the GT as a non-breaking margin. After the launch of the Startup project, if there is a continuous 48-hours hourly average price below the Startup price, according to the Startup primary rule, we will publicly eliminate the GT margin of the Startup project and publish the eliminated GT address for users to view.
We attempt treating our users in a very sincere manner. For users who have previously participated in Startup DILI and KGC, whose tokens have not been sold or users who suffered from direct loss from trading, we have already made 100% compensation and issued a compensation announcement.
Last but not least, any type of investment involves an element of risk. As an exchange, Gate.io is not allowed nor able to determine the price of different cryptos. There is a risk warning section on the Startup announcement page. We hope that users read it carefully and only participate in Startup after careful consideration on their part.
2. About the destruction of GT
We always value your opinion. We appreciate and constantly uate the suggestions made by users to Gate.io. In August of 2019, we made adjustments to the third-stage GT destruction program, according to the opinions of users from around the world. More than 965 users participated in this discussion. Users not only provided feedback concerning the GT destruction plan but also offered valuable feedback on the platform’s functional upgrades and service improvements. More than 80% of the users preferred to have GT destroyed through monthly destruction, so the process of GT destruction was adjusted accordingly.
Create an advanced GT eco-application scenario
1. Holding GT to get VIP rating
2. Rights to participate in Startup initial / non-starting listing
3. Startup mainstream crypto discounted sales participation right
4. GT Security and Legal Fund
5. Financial management projects prioritized engagement
6. GateChain vault account asset security (after mainnet goes online)
7. GateChain PoS mining revenue (after mainnet goes online)
8. Decentralized transaction (after mainnet goes online)
The GT destruction process is transparent. GT was issued on April 1, 2019. The initial total of GT’s 300 million pieces was gifted to the point card purchased users. (It was divided into four stages. In the final step, all the remaining GT tokens will be destroyed after one year. After August 27, 2019, the monthly destruction policy was implemented, and we destroyed 26.34 million GT accordingly. As of October 26, 2019, the GT that was not distributed freely in the final stage, was destroyed.
The Gate.io announcements continuously mention all current data of GT, including GT issued quantity, GT destroyed volume, GT liquidity, GT locked-up quantity, GT fund, wealth management deposit, projects locked margin, etc. The announcements are easily accessible, and users with GT can review their asset at any moment.
For detailed destruction records, see the appendix.
GT Security Legal Fund for Love Grafting Wings
Gate.io set up a public welfare charity project in September this year and established the long-planned security fund. Not only with the intent to provide financial protection for asset tradings but also promoting social welfare. If the charity project can help more children and people in financial need, then this will prove not only the value of Blockchain by itself but also the value which it can have to humanity.
In compliance with the commitment of the GT Safety Legal Fund, Gate.io has continuously been repurchasing GT from the open market. 26.8 million USDT has been spent to repurchase 40 million GT from the market (including the Startup discounted sales repurchasing portion), which has been held in the GT Security and Legal Fund address 0x9BBE47fe66b3580551aAc3124CF9Fc6560252B19. The average purchasing cost was 0.67USDT.
Recently, Gate.io ranked among the top five in the world in CoinGecko’s Trust Score 2.0. The trust score was awarded a full 10 out of 10. Out of 400 exchanges that were uated, only 8 exchanges received this score.
Today, Gate.io provides trading and investment services to nearly 100 high-quality blockchain projects for millions of users in over 130 countries. We will always focus on the market and users’ needs as our development goals while continuously improving the functionalities of our platform.
Our wealth management products are becoming more and more abundant. We have successively developed fixed-term wealth management (PoS current and fixed management), crypto wealth management, leveraged mortgage, and recently locked mortgage.
Gate.io is the world’s first exchange with live chat, leading above the other industry partners. The mainstream crypto discounted sales and the earned USDT are used for the repurchase of the GT and its destruction. The 30-day red pocket airdrop, user feedback gifts and other activities, committed to helping the real users while enriching the platform activities.
Also, the GateChain Testnet is online, and each user of Gate.io can experience GateChain’s unique vault account and revokable transactions, which indicates that Gate.io sets high requirements for its technical team. Putting security and the user’s sense of experience at the top of our priorities is our initial intention. We will continue to select high-quality projects for users, provide convenient access services, and provide asset security for users with technical advancements.
On a final note, we are grateful to the Gate.io global participants who support and provide valuable advice on the way; we will continue to improve ourselves and present you with a better platform.
Attached to our GT destruction process:
At present, GT has completed 13 destructions, and the destruction records have been published on the official website. The destruction records are as follows:
Gate.io BTC Sale GT Buy-Back and Burn Result and GT Current Circ. Supply
Gate.io BCH Sale GT Buy-Back and Burn Result and GT Current Circ. Supply
Gate.io LTC Sale GT Buy-Back and Burn Result and GT Current Circ. Supply
Gate.io XRP Sale GT Buy-Back and Burn Result and GT Current Circ. Supply
Gate.io has Burned All Remained Phase Three GT and Announces GT Circ. Supply
Gate.io Startup 20% Discount BTC Sale (№12) Result Announcement
Gate.io has Burned the Cautionary Deposit of KGC & DILI and Introduce Compensation Scheme
Gate.io Startup 20% Discount EOS Sale (№11) Result Announcement
Gate.io Startup 20% Discount BTC Sale (№10) Result Announcement
Gate.io Startup 20% Discount ETH Sale Result Announcement
Gate.io has burned 8.28 Million GT
Gate.io Startup 20% Discount BTC Sale Result Announcement
Gate.io Introduces the Official GT Burning Plan, with over 26,000,000 GT Burned
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
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