Crypto exchange Gate.io has officially rolled out its Layer 2 network, Gate Layer, built on the OP Stack and fully compatible with the Ethereum Virtual Machine (EVM). This launch is part of the exchange's "All in Web3" strategy, aimed at improving blockchain scalability, reducing fees, and expanding the utility of its ecosystem token, GT (GateToken). Gate Layer uses GateChain as the settlement layer, offering block times of just one second and throughput exceeding 5,700 transactions per second, positioning it as a high-performance alternative to networks like Base, BSC, or Solana.
The network promises significantly lower costs, with processing one million transactions costing less than $30, compared to hundreds or thousands of dollars on competitors. Key features include low barriers to entry for developers, cross-chain interoperability via LayerZero integration for seamless asset movement across Ethereum, BSC, Polygon, and others, enhanced security through GT staking, and ultra-fast settlement for DeFi, NFTs, and meme tokens.
Alongside the network launch, Gate.io has upgraded GT tokenomics, making GT the exclusive gas token for all on-chain activity on Gate Layer. The token maintains a dual deflationary model, combining scheduled quarterly burns with on-chain burning via EIP-1559, which has already removed over 180 million GT (about 60% of the original supply) from circulation. Supporting this, GateChain has been upgraded to version v1.20, adding EIP-4844 blob transaction support and efficiency improvements.
Gate.io's broader ecosystem push includes flagship products like Perp for decentralized perpetual trading, Gate Fun for project incubation, and Meme Go for meme token tracking, all designed to foster a comprehensive Web3 environment.