Gate io announced the completion of on chain destruction of Gate Token (GT) in the fourth quarter of 2024, with a total of 2.9049 million GT destroyed, valued at over 63.9 million US dollars. The total amount has decreased by about 60% from 300 million, with a cumulative destruction of 177 million GT (approximately 408 million US dollars). GateChain will upgrade and optimize the Gas mechanism on the main network in August v1.1.6, further reducing GT circulation.