Gate said it has completed the on-chain burn (permanently removing tokens from circulation) of 2,570,063.3829548 GT for Q2 2026, with the destroyed tokens valued at more than $17.75 million. The company said the tokens were sent to a burn address, a standard mechanism used to make crypto assets unrecoverable and reduce circulating supply. Since the launch of Gate Chain mainnet in 2019, cumulative GT burns have reached 189,947,219 GT worth over $1.311 billion, cutting total supply from 300 million by about 63.32%.