PANews reported on May 14th that according to the official announcement, GateToken (GT) token burn for Q1 2025 has been officially completed, with a total of 1,542,910.7518074 GT tokens transferred to the burn address, with a destruction value of over $33.84 million. Since the GateChain mainnet went live in 2019, GT has been implementing a continuous token burn mechanism. Up to now, the total number of tokens burned has reached 178,632,323, with a cumulative destruction value of approximately $3.92 billion (calculated at current prices), and the total token supply has been significantly reduced by about 59.54% from the initial 300 million tokens.
On-chain transaction details can be found at: https://etherscan.io/tx/0x07d08231fb04140708621348b3e030978c4feedceb4113f214cf085732ce9ec4
