🫵The Gate team is very diligent. They released a new announcement this morning, which mainly discusses the upgrade of the utility of Gate Layer 2 and the $GT Token.

🧐In my opinion, the reason Gate launched Layer 2 is also to follow the trend and prepare for the competitive dex market in advance:
Through this upgrade, Gate Layer further reduced Gas fees, improved transaction speed, optimized user experience, while also increasing the usage scenarios of GT and strengthening the ecological core position of GT.
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💠According to the announcement illustration, the upgraded Gate L2 has obvious horizontal advantages compared to several of the most mainstream networks.
~ Block time compressed to 1 second, with transaction processing capacity (TPS) exceeding 5700 transactions per second — leading among competing EVM chains, second only to Solana;
～ Gas consumption is as low as $30 per million - far ahead of several competing chains.
～ In addition to speed and cost advantages, Gate Layer is fully compatible with EVM - comprehensively supports the Ethereum toolchain, allowing developers to directly migrate DApps, and users do not need to change their usage habits;
~ And Gate Layer, by integrating the LayerZero cross-chain protocol, can support cross-chain assets with mainstream public chains such as Ethereum, BSC, and Polygon, no longer needing to transfer back and forth through CEX.
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The upgrade of the 💠Gate Layer also provides more driving force for the utility and deflation of $GT.
～ $GT is the only on-chain Gas for Gate Layer——and also the hub for cross-chain settlement. GT has become a necessity for on-chain activities.
~ At the same time, $GT has officially upgraded from a platform coin to the super fuel of the L2 ecosystem—currently, 180 million (, which is more than 60% of the total supply ), has been locked, and each transaction will automatically trigger the burn mechanism, which still benefits deflation.
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💠In conclusion, the future GT will only become more and more rare and precious, those who understand will understand! #Gate