Gate Unveils Layer 2 Network and GT Tokenomics Overhaul
- Gate, a crypto exchange, launched a new layer 2 blockchain network to enhance scalability and ecosystem development.
- The GT token underwent a comprehensive tokenomics upgrade, designating it as the exclusive gas token for Gate Layer while maintaining its dual burn model.
- The announcement led to a minor price reaction for GT, which now has a market cap of nearly $2 billion.
- Gate Layer is built on the OP Stack and is fully EVM-compatible, using GateChain as its settlement layer.
Gate’s launch of a new layer 2 network and an upgraded GT tokenomics framework aims to boost scalability in its ecosystem. The GT token now serves as the exclusive gas fee medium within Gate Layer.
Source (3.2)https://cryptobriefing.com/gate-layer-2-network-gt-tokenomics-overhaul/?rand=59535
