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Gate.io Solicits Feedback about GT Burning Plan

2019-08-09 21:14:02Read:112046

# About Gate.io POINT Sys.

Gate.io has launched POINT since May 6, 2019. Users can enjoy further handling fees deduction by purchasing prepaid POINT plans with 1 POINT equals to 1 USDT fee. POINTs can also be applied simultaneously with VIP discounts.

Gate.io POINT can significantly reduce users trading fees, and it has become viral among our users as soon as it launched. Many users have chosen to use POINTs to deduct the handling fees, and the trading volume has increased 3 to 5 times since then. According to our previous exchanges fee rate analysis, with Gate.io POINT, Gate.io now has the most competitive fee rate in the world compared to other major exchanges. For more details, please refer to: https://www.gate.io/article/16959

#About GT Reward with POINT purchase

When purchasing Gate.io POINT prepaid plans, users can receive not only POINT but can also get GT as a reward. Currently, the GT reward comes from the Gatechain GT token distribution Phase three, which will last for one year. The GT reward that comes with the POINT plans will reduce every season. As per the distribution plan, at the end of phase three, the undistributed GT will be burned accordingly.

#About the POINT Sales
1) In the initial stage, the POINT plans were sold rather slowly since the issuance of GT and the distribution of POINTs at a large scale. Also, with the POINT transfer service provide by Gate.io, users were able to obtain POINTs over the counter (with a discount as high as 70%-75% off). The official POINT purchase channel was thus less popular.
2) The POINT plans were rapidly spent. Three months from the POINT plans launch, users have used approximately 18,000,000 POINTs. The amount equals to 20% of the total POINT sale. At this rate, the POINT will be spent after a year and a half.
3) Based on our observation, at the end of GT distribution Phase Three, the price of POINT over the counter will have a significant increase. Users might purchase POINT through the official channels, and most of the remained GT will be distributed during this period.

#About GT Burning Plan
Recently, we have received users suggestions on the handling of the remained GT reward from the distribution Phase Three. According to most GT holders, they suggested to burned the remained GT on a seasonal or monthly basis. However, as we mentioned earlier, such burning plan might affect the GT reward distribution before the end of Phase three; and it could also burn more GT than we have estimated.

These burning plans could eventually affect the trading cost for users who do not hold GT. To better uate the GT burning plan, we will be collecting your opinions within the next week (from this announcement date). If you have any suggestions, please do not hesitate to tell us. We look forward to receiving your valuable feedback, and we sincerely thank you for your continuous support!
Click here to submit feedback: https://gateio-exchange.mikecrm.com/2PupQy0

FAQ for POINT:
1. Where can I purchase POINT?
Users can purchase POINT via Web or mobile APP.
Purchase POINT via web: https://www.gateio.co/myaccount/point_manage
Purchase POINT via mobile APP: go to Markets -> POINT management

2. Can I transfer POINT?
Gate.io provide POINT transfer service.
Transfer POINT via web: https://www.gateio.co/myaccount/point_manage
Transfer POINT via mobile APP: go to Markets -> POINT management


3. Where can I check my POINT balance?
For mobile users, please go to Wallets -> Spot Account;
For web users , please go to: https://www.gateio.co/myaccount/point_manage

4. How can I check the POINT deduction?
For web users, please go to: https://www.gateio.co/myaccount/mypurselog
For mobile users, please check at Transactions or refer to the balance of POINT in the account.

5. Can I use POINT with the VIP discount?
The VIP discount and POINT can be applied simultaneously. Check out the new VIPlevel structure at: https://www.gate.io/article/16959

Gate.io is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
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Gate.io
Aug 9,2019