BlockTalks x GATE.IO AMA Transcript!
We recently hosted an AMA with GATE.IO Exchange, on July 28th at 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Molly, Spot Trading Operation at GATE.IO. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce
GATE.IO Exchange to our community?
Ans — There are some key words about Gate.io : 2013, 4.5, 1400, 10 million.
In 2013, Gate.io was established as one of the earliest and largest cryptocurrency exchanges. It has been considered as one of the safest and most reliable global exchanges.
Gate.io was awarded a rating of 4.5 by Forbes Advisor, as one of the Best Crypto Exchanges of 2021. Gate.io is also consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko. It has become one of the verified cryptocurrency exchanges in the market surveillance report of Blockchain Transparency Institute (BTI).
There have been more than 1400 cryptocurrencies on Gate.io, where you can always find what you need. Gate.io offers all-round products and services beyond centralised cryptocurrency exchange, Gatechain, research institute, venture capital, wallet, data analytic services, NFT, etc.
What’s more over 10 million registered users are a reflection of how much you trust Gate.io. We can feel your support every day. We care about every single one of Gate.io users and it is the most genuinely meaningful aspect of our work. We are grateful to have your trust, which is the biggest reason for us to work harder.
Q2. What are the key features of GATE.IO Exchange compare to the other crypto exchanges?
Ans — And Gate.io supports 1,400+ cryptocurrencies and 2,500+ trading pairs. It offers a variety of trading, lending, and staking features such as spot, NFTs, margin, copy trading, leverage, derivatives, API trading, and more. Additionally, Gate.io provides trading incentives and discounts through its native exchange token GateToken.
If you are an altcoins chaser, you can find currently hot coins at Gate.io. Among the top 10 exchanges on CMC, Gate.io has the most available coins and markets.
The other outstanding feature is Startup, why Startup? I will list 3 killer features of Gate.io Startup that makes it competitive:
- Almost all projects are airdrops, totally free to claim.
2) Much more early-staged projects with high potential.
3) Many initial offering projects, earliest chance to find the gems.
Please check the tutorial video to get the steps to follow Startup and claim free tokens. https://t.me/GateioOfficialNews/2198
Here are some info to assist you to understand, if you have any other problems about Startup, feel free to ask me or admins here https://t.me/gateio
Q3. Could you enlight the security systems of GATE.IO exchange?
Ans — Security is the most important thing in crypto world, Gate.io also pays much attention to that.
Gate.io takes a multi-layered approach to account security implemented through multi-factor authentication, withdrawal whitelists, UKey/Yubikey support, anti-phishing codes, suspicious activity monitoring, and security logs that protect user accounts from unauthorised access. Platform funds are secured by institutional-level online and offline security measures and protected behind physical and encrypted safeguards, eliminating single points of failure.
Questions Asked on Twitter for GATE.IO Team!!
Q1. I learned that for the second quarter of this year, the GateToken (GT) buyback and burn program reached over $17 million in total value burned. So, could you tell me what is the total value burned for the first quarter? Can you tell me about this buyback and burn program?
Ans — The total number of GT burnt in the first quarter of 2022 (Q1) is 3243433.1032228 GT
$GT is the platform token of Gate.io, Gate.io will use some profits to buy back $GT and burn them. Let me share the GT Buy-back Plan:
1. From September 1st, 2020, Gate.io will use 20% of the profit from the handling fees in Regular Markets, Margin Trading and Contract Trading (and other major products on the platform) to buy back and burn GTs.
2. In the buy back, 5% of the GTs will be used for development, marketing and eco, and will not circulate in the market.
3. 15% of the GTs will be burned publicly.
4. The buy-back ratio will be adjusted based on the market performance and the industry development (the buy-back ratio shall remain stable in most cases).
5. After the buy-back scheme starts, the Startup Special Offer with Mainstream Currencies for GT burns will no longer be available. For festivals and special celebrations, we will still offer mainstream currencies at a discount, but the funds we receive will be included as the profit for the buy-back instead.
6. Before the buy-back scheme starts, the Startup Special Offer with Mainstream Currencies for GT burns continues.
7. Currently, GT is already under the deflation model.
Q2. What is $GT token used for? What is the main role of $GT in your platform? What are the benefits of holding $GT in long-term?
Ans — I will share you more info to help you understand.
GT is the platform token of Gate.io. By holding GT, holders can enjoy many benefits and privileges:G
1. Gain rights with the GT buy-back schemes
2. Obtain VIP levels, enjoy trading fee discount
3. Use GT to pay for trading fees end enjoy an additional discount
4. Participate in Startup subscription with VIP level
5. Participate in Listing Vote (click here to check out the Votes )
6. GT Safety and Law Fund
7. Participate in Gate.io HODL & Earn
8. GateChain Vault Account(after Mainnet launch)
9. Decentralised trading (after Mainnet launch)
More benefits are coming, please stay tuned!
Q3. Regarding your Startup, I noticed that there are initial and non-initial projects. So if gate is the first platform to release these projects, why is the project marked as “initial” or “non-initial”? what is the difference between an “initial” and a “non-initial” project?
Ans — Yes, there are 2 type of Startup offering.
For “Initial” projects, it means Gate.io is the very first platform to launch it.
But there are also some “Initial” projects, that means, the project may were listed on some DEX or CEX. In my point of view, “Initial projects” offers the opportunities for investors to join at their very early stage, maybe some gems among will be explored by you!
Q4. Is KYC required to use all the features in Gate.io? What are the benefits of doing KYC? DAnd is our data safe?
Ans — For Startup subscription, KYC is mandatory, and also for some activities, such our currently event — Cryptoweekend https://www.gate.io/activities/crypto_weekend. (Easily trade and draw to win tokens)
Completed KYC verification is suggested, as currently the KYC process is easy to do, and almost all products and events are available to join with KYC verification. The data of users are very SAFE, no worries.
https://t.me/GateioOfficialNews/2489 Tutorial about Cryptoweekend participation, for referrence
The prizes may change every week, you may open this link to have a check on Every Monday. Up to 10,000 SEELE to win for this round.
Q5. Gate io has been in the industry for 9 years, so this is not its first bear market. So in this bearish period, how does Gate io remain steadfast in its expansion to reach new users, forge new partnerships, provide accessible services, and help further crypto adoption?
Ans — Yep, it’s not.
I think the bear market is a good period for platforms to improve themselves to provide users better service.
In the bear market, there are a lot of things to do, such as listening to users and upgrading the products to make it more user-friendly, paying more attention to teaching users when they have problems in trading, and creating content about crypto for all traders in this industry.
Questions Asked by our BlockTalks Community Members during live Session to GATE.IO Team!!
Q1. I am very old member of the GATE.IO platform, So I Just want to know that what are the plans or milestones for the Upcoming Weeks or Months?
Ans — Thank you for your long-term support. I can share some info about my plan in the upcoming weeks. For short term, we have launched the other activity, refferral program, Invite friends to register and open myster box, up to $500🎉🎉 https://t.me/GateioOfficialNews/2514
And also we are preparing creating more contents to help user understand Gate.io products, for example, Startup, listing votes, and some hot activities etc.
Because the Startup is quite like launchpad and it’s 0️⃣cost, but seems many users are still confused about its rules, so we will make more explanation in text, video to help users understand.
Q2. What aspects is Gateio currently focusing on the most? What is your goal before the end of 2022? This year the metaverse has become very popular, does Gateio have plans to work with this kind of products?
Ans — For now, we focus on building mostly.
Q3. In Gate.IO have they already enabled the alternative that allows us to buy and sell crypto assets through the banking entities that we currently have? If so, users from which country will be able to make these purchases?
Ans — Yes, you mean this C2C part right? Here is the entry 👉 https://www.gate.io/buy_crypto?method=card&fiat=USD
Q4. Are the promotions and raffles to celebrate its 9th anniversary really still operational? If so, what promotions are really available? How can we participate in them? and until when will they be?
Ans — Some activities of 9th anniversary are still available to join, open the website and check this button https://www.gate.io/startup
Q5. The CEX competition is growing and growing every day, how has the Gateio team been working to stay in the TOP 10 CEXs with the highest volume of trade despite the growing supply? What have you done differently from the others? How do you motivate users?
Ans — We will always doing ourselves best and keep forward. Gate.io is a platform with long history, we do not do a lot promotions, but you can still see Gate.io on CMC as one of the top 10. The reason why most users will choose Gate.io is because the advantages Gate.io has. And also we keep listening to users, we usually start a survey to collect users’ feedback. If you have any suggestions to us, plz do not hesitate to submit to us when you have got a survey link. Thank you, we will release here. https://t.me/GateioOfficialNews
Q6. is there currently a referral program or a new user program? If so, what are the terms and conditions that apply?
Ans — Yes, there is. Please check this post. https://t.me/GateioOfficialNews/2514
Referees and newly signed up users complete the following tasks during the activity period (every 7 days for one round) to get mystery box, win up to $500🎁:
Task 1: Trade spot trading pairs with volume no less than $50 in a single order.
Task 2: Trade spot trading pairs with cumulative volume no less than $500.
Q7. For a few months I have not been able to trade in GateIO since I am part of the Latin American countries, and it is known that access is prohibited for us, so I ask you, will they soon be able to enable operations and KYC for our location? Or will we be banned for life?
Ans — Sorry for the inconvenience caused. I am not sure when the restriction will be removed. plz stay tune with us in our community https://t.me/gateio
Q7. I read that your last update was made earlier this year, so really what changes or innovations will you incorporate in Gate.IO soon? If so, what changes do you plan to make?
Ans — My social page updates? hahaha I do not usually post a new tweet. I joined Gate.io last year, I am not sure if you have noticed the chances or not. I have noticed some. And for the future, I want to do more for the crypto world development, I will try my best.