Gate.io Platform Announces GateChain Token Distribution
The cryptocurrency trading platform Gate.io announced its intention to launch a decentralized exchange and to distribute GateChain (GT) internal tokens among users till the end of 2019. The message was published on the company's official website.
According to the roadmap, representatives of the exchange are going to initially issue 300 million coins. After that, the tokens will be sent directly to users' accounts without ICO or private sales. At the same time, miners will receive a certain amount of tokens as a reward. The development team has set an emission limit at 1 billion GT hoping to reach this mark in a decade.
Some amount of tokens will be sent to participants using various motivational mechanisms. Another part will go to users who will acquire special POINTs that can be used to reduce a part of trading fees. Meanwhile, GT tokens can be used by community members to pay commissions for transactions and listing in DEX.
The distribution of POINTs and GT coins is scheduled for April 8, 2019 at 07:00 (Moscow time). Users can contribute BTC, ETH, BNB, EOS, USDT and HT to participate in the campaign. Experienced participants with higher levels will be able to receive tokens to their accounts immediately after the end of the first stage of the event.
As previously reported, the Japanese crypto exchange Coincheck launched an over-the-counter trading platform for cryptocurrency.