According to a newsletter shared by TokenPocket, the native GateChain token GT made its way to the TokenPocket wallet on May 30. The integration will help enhance the accessibility of GateTokens for various uses ranging from token transfer to dApps use. On the other hand, TokenPocket will welcome a new user base from the GateChain community.
GateChain is a blockchain network that intends to bring a sophisticated next-gen digital ecosystem to enterprises. The chain brings one of the most advanced and efficient decentralized storage, distribution, and trading systems. The network was developed by Gate.io, one of the largest crypto exchanges in the market.
GT or GateToken is the native token used on the GateChain mainnet. GTs have also become the governance tokens used on the Gate.io exchange since March 2020. In addition to paying for transactions and staking, these tokens are also used as payment tokens.
GTs initially came with a supply of 1 billion given as gifts to buyers, and nearly 0.7 billion of it was burned soon after the launch. After the buyback and burning plans following the deflation, the token currently runs with a supply of 300 million. Currently, GT is the token used for tier escalation, trading, and exclusive participation on GateChain. The exchange is planning to roll out more applications to fortify the practical side of the token in the future.
The TokenPocket integration of GT comes right when the network is planning to expand utility. TokenPocket is a multi-chain self-custody wallet that supports chains like Bitcoin, Ethereum, Binance, Polygon, Solana, Avalanche, HECO, Klaytn, KCC, Tron, OEC, HSC, Fantom, Polkadot, Kusama, EOS and others.
The wallet uses unique security protocols that never upload the private keys to the server. Only users can access the private keys in their devices and fully control their asset holdings in the TokenPocket wallet. Thanks to such high-end security features, the wallet has more than 10 million users from nearly 200 countries and a monthly count of 3.5 million.
GateChain hopes that TokenPocket will highlight the practical side of GateTokens. Moreover, with a self-custody one-stop wallet, users will not have to worry about accessibility and security while using GTs anymore. As for TokenPocket, the partnership could increase the monthly volume and user count in the months to come.
Finding the right channel for the tokens is integral in DeFi as it helps bring new use cases for the tokens. Not only that, but the right channel will also help increase the coin’s visibility in the crypto market. In that case, the recent partnership between TokenPocket and GateChain shows all the signs of being mutually beneficial.