Cryptocurrency exchange Gate.io has officially launched Gate Layer, its proprietary Layer 2 blockchain network engineered to significantly enhance transaction speed and reduce fees. The launch coincides with a comprehensive tokenomics overhaul for its native GT (GateToken).
Constructed using the OP Stack framework, Gate Layer is fully compatible with the Ethereum Virtual Machine (EVM). GateChain will serve as the settlement layer for this new network, as detailed in the company's official announcement.
Gate Layer is positioned as the core infrastructure for the exchange's "All in Web3" vision. The platform introduces key tools including a perpetuals trading hub (Perp) with centralized exchange-level liquidity, a no-code token launch incubator (Gate Fun), and a real-time, cross-chain meme token tracker (Meme Go).
A central part of the upgrade designates GT as the exclusive gas token for the Gate Layer 2 network, reinforcing its utility. The token will maintain its dual-burn mechanism, which has already resulted in the burning of over 180 million GT tokens, equivalent to approximately 60% of the initial supply.
This strategic move aligns Gate.io with other major exchanges like Coinbase (Base) that are developing their own Layer 2 solutions to onboard more user activity on-chain. By integrating robust infrastructure with enhanced native token utility, exchanges aim to boost ecosystem liquidity and transition into comprehensive Web3 service providers.