GT and GateChain
GT is the base currency of GateChain’s public chain. GateChain is an innovative public chain focused on secure storage and value exchange of Blockchain assets. With an original online hot insurance account, the clearing guarantee creatively solves the threat of the user’s digital assets stolen and the loss of the private key, decentralized transactions, cross-chain transfer and other core issues.
GateChain creatively solves two safety issues, including,
1) how to recover stolen digital assets
2) how to find lost private keys.
GateChain will be launched at the end of 2019.
The Mission of GT Safety and Law Fund
Gate.io has experienced hundreds of legal cases and judicial investigations related toBlockchain security in the past few years, involving hundreds of millions of dollars. With extensive experience in technology tracking and judicial processing, Gate.io understand the importance of the security-legal to the Blockchain industry.
Gate.io will repurchase GT from the open market and gradually establish a 50 million GT-scale security legal fund.
Through legal, judicial, commercial insurance, wallet technology and other means, Gate.io is committed to building a safe, compliant and healthy Blockchain asset protection platform on a global scale.
For the industry users, and especially the platform users, Gate.io provide global Blockchain technical tracking and legal assistance when the funds are stolen, defrauded and other events. Solve the worries of users and offer security measures to the user’s Blockchain assets.
Sources of Funding of the GT Safety and Law Fund
Currently, the funding of the GT Safety and Law Fund are all from Gate.io’s revenue, with no third-party donation.
Right now,Gate.io are and will be repurchasing GT from the open market and gradually establishing a 50 million GT-scale security legal fund.
To maintain the healthy development of the fund, we will gradually increase the holdings of the fund and include other funding sources such as investment returns and others.
GT Safety and Law Fund Repurchases Overview
On May 9,2019,Gate.io had purchased 26,000,000 GT from the open market, at an average price of 0.7301USDT/GT.
Up to now, GT Safety and Law Fund has purchased 40,000,000 GT (including the GT purchased using the funds raised from the previous Startup Special Offers), with 26,800,000 USD.
The original transaction data is preserved for possible third-party auditing.
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