PANews reported on May 14 that according to the official announcement, the on-chain destruction of GateToken (GT) in Q1 2025 has been officially completed. A total of 1,542,910.7518074 GTs were transferred to the destruction address, with a destruction value of more than 33.84 million US dollars. Since the launch of the GateChain mainnet in 2019, GT has been implementing a continuous destruction mechanism. As of now, the total amount destroyed is: 178,632,323 pieces, with a total destruction value of approximately US$3.92 billion (calculated at current prices). The total number of tokens has been significantly reduced by about 59.54% from the initial 300 million.
The transaction details on the chain can be found at: https://etherscan.io/tx/0x07d08231fb04140708621348b3e030978c4feedceb4113f214cf085732ce9ec4
