According to the official announcement, in the third quarter of 2024, Gate Token (GT) completed on-chain destruction, totaling 2,244,543.9745556 tokens. As of now, the total number of GT tokens destroyed has reached 174.1 million, with a circulating supply of approximately 9.6 million, achieving the phased goal of reducing the circulating supply to under 100 million. Since the implementation of the GT destruction policy in 2019, the total supply has decreased by about 58.06%, providing a solid support for its long-term value. In this quarter, GateChain completed the v1.1.6 mainnet upgrade, significantly improving transaction confirmation speed and reducing user costs, while further optimizing the GT token burning strategy. The Gate Web3 ecosystem has also undergone multiple updates in functionality and user experience, now supporting over 100 public chains and adding 1.117 million new users, becoming an important Web3 entry point. In addition, GT exclusive mining products are now online, offering convenient and secure staking solutions with an annualized return rate of approximately 6.71%. For more details, please refer to GT Staking. In the future, GateChain will continue to focus on technological innovation and improve ecosystem construction, providing more efficient blockchain infrastructure support for global users and developers.