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Friday, April 23, 2021
Home News Over $440M Orders Purchased - Gate.io Announces Gatechain Token (GT) Point Sale...

Over $440M Orders Purchased – Gate.io Announces Gatechain Token (GT) Point Sale and GT Reward Distribution Results

Chinese Cryptocurrency Exchange, Gate.io – a veteran blockchain assets exchange platform, established in 2013 – has stated that the Gate.io POINT sale and GT reward distribution for the second day has been completed successfully with over USD 440 million worth of orders placed during the sale

The planned two weeks sale sold out in two days. 

In the top 50 at Coinmarketcap for adjusted volume rankings, Gatechain is a public blockchain that will be supported by the GT token. 

The team writes:

“Our news has drawn much attention, with more people getting to know our principles, achievements, and vision of the blockchain industry. We are beyond excited to share that after the release of the announcement, the amount of our web visits has tripled, the number of daily new registered accounts has increased by 10 times, and the spot trading and contract trading volume has soared to 400 million USD.”

Gate.io will distribute 300 million Gatechain Tokens to its users over the next year. Gate.io will provide technical and financial support for GT to the main online trading platform as a mainnet asset. With future projects, Gate.io will support these to release project Tokens on the Gatechain mainnet.

GT distribution started with a 2-week sales period on April 8th, with GT being distributed for each Gate Point (which are pre-paid trading fees) purchased. Each day during these 2 weeks, users will be able to apply purchase Gate Points during a 2-hour period (UTC 4:00 A.M. – 6:00 A.M.). GT and GP are then awarded on a fair basis to all of those who applied. 

It’s apparently already sold out. 

Commenting on the GT distribution, Marie Tatibouet, Chief Marketing Officer at Gate.io said yesterday:

“In just one day, we’ve had over $388 million worth of orders placed. Due to the distribution limit, we were not able to fulfill all the demand – we encourage users to come back to the platform and try again.”

Users in the United States, Canada, Japan and other restricted countries (unnamed?) were not able to participate in the purchase.

Two weeks ago,  Gate.io, announced the relaunch of its platform for users based in the USA, Canada and Japan.

Two months ago, Gate.io was hacked and 54,200 ETC ( USD$329,536 today) was stolen.

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/

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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