On May 30, TokenPocket, the native GateChain token GT, was added to the TokenPocket wallet. The combination will contribute to improving the accessibility of GateToken for a variety of applications, including token transfer and dApp use. TokenPocket, on the other hand, will support a new user from the GateChain network.
— TokenPocket (@TokenPocket_TP) May 30, 2022
GateChain is a blockchain platform that aims to provide organisations with a sophisticated next-generation digital environment. The chain incorporates one of the most powerful and efficient decentralised storage, distribution, and trading systems available. Gate.io, one of the market’s leading crypto exchanges, created the network.
GT, or GateToken, is the native token used on the GateChain network. Since March 2020, GTs have also served as the governance tokens on the Gate.io market. Such tokens are used as payment tokens for transactions and staking.
GateToken initially launched with a supply of 1 billion offered as a gift to customers, and almost 0.7 billion of it was destroyed shortly after the debut. Following the deflationary buyback and burning schemes. the token presently has a supply of 300 million. GateToken or GT is now the token utilised for tier escalation, trade, and exclusive membership on GateChain. In the future, the exchange intends to launch additional apps to strengthen the token’s usefulness.
GateToken and TokenPocket integration to boost utility
GateToken and TokenPocket integration coincides with the network’s plans to boost utility. TokenPocket is a multi-chain self-custody wallet that works with Bitcoin, Ethereum, Binance, Polygon, Solana, Avalanche, HECO, Klaytn, KCC, Tron, OEC, HSC, Fantom, and more chains.
The wallet employs innovative security mechanisms which never send private keys to the server. Only users have access to private keys and complete control over the asset holdings within the TokenPocket wallet. Due to advanced security measures, the wallet has over 10 million users from approximately 200 countries and a monthly user base of 3.5 million. TokenPocket and GateToken are beneficial for both.
TokenPocket, according to GateChain, will showcase the practical aspect of GateToken. Furthermore, with a self-custody one-stop wallet, consumers will no longer have to be concerned about availability and protection while using GateToken. TokenPocket monthly volume and user count may expand as a result of the agreement in the coming months.
The appropriate channel will boost the coin’s exposure in the cryptocurrency market. In that situation, the new collaboration between TokenPocket and GateChain appears to be beneficial to both parties.