Cryptocurrency exchange Gate.io launched on Sunday, April 21, trading with the internal token Gatechain Token (GT). The new coin is trading in GT / USDT and GT / BTC pairs.

GT We are excited to announce that GT will be available to trade at UTC 08:00, Apr. 21 against $ USDT and $ BTC .
Trade GT at: https://t.co/amQsL5Oj5e , https://t.co/0lrfAIkjpa pic.twitter.com/ZftcAXBDCn

– gate.io Exchange (@gate_io) April 21, 2019

The GT Token will be the currency of Gatechain’s upcoming blockchain, and will also be used to participate in the initial exchange offerings (IEO) on Gate.io.

In addition to the GT token, Gate Points are also provided for at Gate.io – they are designed to lower commissions for trade transactions, in addition, each Gate Point can be exchanged for 2.5 GT. The launch of Gate Points is expected in the fourth quarter of 2019, but already this week the stock exchange reported that it had raised $ 64 million in cryptocurrencies to launch GT. At the same time, the originally planned amount of Gate Points subscription turned out to be significantly exceeded – the exchange estimated the total amount of bids at $ 2.99 billion.

As BlockchainJournal wrote earlier, Gate.io’s plans also include launching a decentralized exchange . With the help of the GT token, users will be able to pay transaction fees and listing on DEX and attract investments. Miners will receive a token as a reward.

At the same time, Gate.io announced the first IEO on its platform. His next day will hold a project Cryto Neo-value Neural (CNNS).

Also, the second project for IEO on Gate.io has become known – it will be run by the DREP startup, announced as a platform for creating tools for developers of decentralized applications with which they can release their own assets in various blockchains, create wallets and trading platforms. IEO project DREP will be held April 25.

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