Gate.io raised $ 64 million in a week and planned to open an IEO platform
Crypto Exchange Gate.io raised $ 64 million in cryptocurrency for 7 days to create its own asset.
According to the exchange, over the last week, it received applications for the purchase of Gate Point, allowing to reduce trading fees on the platform and giving the right to receive Gate Token (GT), totaling $ 2.99 billion. The company expects to launch the Gatechain network in the fourth quarter.
Gate.io's marketing director Marie Tatibouet said that the exchange distributed 150 million GT to successful Gate Point buyers during the first phase of sales and received $ 64 million in prepaid commission fees.
According to Tatibouet, on this Wednesday, Gate.io announces its own platform for initial stock exchange placement (IEO).
She also acknowledged that users currently cannot track GT movements, including 500 million tokens or half of the total emissions that are subject to blocking, to further fund research and development. Trading in GT tokens the exchange intends to launch at the end of April, while the withdrawal of the asset will not be available until the launch of Gatechain.
Information on the website of the exchange suggests that GT trading in pairs with BTC and USDT will start on April 21 at 11:00 Moscow time.
Currently, Gate.io conducts the second stage of the distribution of tokens and prepaid commissions — users are allowed to it, who are customers of the exchange for a particular time. During the week, the company plans to raise another $ 23 million.