First published 8 July 2020. The token had been live since 2019. Expanded in October 2026 so a fee discount is not described as a property of the coin, and so a burn is not described as a dividend. GT is the token of Gate, the exchange. The company says the initial distribution was not a public sale, and that the supply started at 300 million. What is BNB? is the exchange token people already use as the comparison. GT is not BNB. An exchange balance is an IOU, not a wallet.
GateChain, the company’s own chain, opened in 2019, and GT was described as its coin. In March 2020 the company also made GT the token of the exchange. The burn announcements point at an Ethereum transaction. A balance on Ethereum is not a balance on GateChain. The wrong network is still the wrong city.
A burn is a transfer the company makes
The company burns GT by sending it to an address that does not spend. In October 2026 it said the cumulative burn was about 192 million, roughly 64 percent of the initial 300 million. The address is the count. A press line is not. A price times 300 million counts coins that were burned or were never the float. Destroying coins does not pay the people who still hold some. A market-cap widget is a price times a supply figure. It is not proof those coins could be sold.
A trading-fee discount, where the exchange offers one, is a rule of that account. Close the account and the discount is gone. The chain does not owe it. Holding GT is not a share of Gate, and it is not a claim on customer balances. Nothing here is an instruction to buy GT or to use the exchange.
