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What is an ecosystem of crypto -rhines: we explain with the example of Gate.Io
A modern cryptocurrency exchange is not enough to be a platform for the exchange of tokens. Users are expected to find several tools on one platform at once-from spot trade to Polkadot parachain auctions.
Gate exchange.IO actively develops its own ecosystem, including through popular Defi services. We say that it includes as a team of the trading platform plans to improve it.
Blockchain: Gatechain and GT
Gate team.IO seriously refers to the safety of users: to withdraw funds to an external wallet, you need to confirm the action three times – enter a separate trading password, the code from the letter to the mail and the Google Authenticator code. Advanced users can set up additional measures like the white list of IP addresses.
The platform team decided to make GateChain as protected as an exchange account. The developers came up with how to deal with two main dangers: the loss of a private key and theft.
GateChain-EVM blockchain on the consensus algorithm Proof-OF-STAKE. Unlike other networks, he uses two types of addresses: ordinary (GT1 …) and storage (vault1 …).
Ordinary addresses work in the same way as in other networks: if the transaction enters the blockchain, it can no longer be changed or canceled. Storage addresses use their own types of transactions. They can be canceled during the number of blocks that the owner of the address sets.
In addition, when a private key loss, the owner can contact the support service in order to withdraw funds from the storage to a previously attached ordinary address.
Gatechain protocol development lasted two years. In 2018, the platform experts confirmed the performance of the transaction cancellation mechanism.
At the beginning of 2019, GT Token Tokenov (Gatechain Token) started, and after another six months the exchange opened public access to the gatechain twin.
On May 13, 2020, GT holders voted for the launch of a mainnet. The team included their 30 million GT in the streaming, and users began to open their own nodes and validate the network.
Defi: Wallet, Hipodefi, Bridge
Gate.Io released a desktop wallet for working with Gatechain. At the same time, the blockchain can be added to another wallet with support for custom EVM networks: Metamask, Wallet.Io, Walletconnect.
In September 2020 Gate.Io published Whitepaper Dex Hiposwap. At the beginning of 2021, the site launched Gatechain called Hipodefi.
In addition to the exchange of tokens on Gatechain, Hipodefi supports trading on decentralized exchanges based on Ethereum, BNB Chain, Huobi Eco Chain, Polygon, Arbitrum and Avalanche.
Using the Gatebridge bridge, users transfer their assets from these networks to Gatechain and back. Investors can also make liquidity into accessible pools and use LP tokens to make money on the pharmination.
Startups: Labs, Ventures and Grants
In January 2021 Gate.Io created an Ecosystem launcher-minute & Labs (Gate.IO Labs) to motivate developers create applications on gateChain.
The platform allocated $ 50 million to finance projects and provide initial liquidity. At the time of publication Gate.IO Labs allocated money to teams 46 crypto projects.
In September 2021 Gate.Io launched the Gate Ventures investment fund of $ 100 million. He provides financial assistance to projects that are engaged in:
- construction of technical and financial infrastructures;
- creation of cryptonatic ecosystems;
- application development for end users.
For the first year of Gate Ventures, he took part in sowing rounds of SOMA financing.Finance, 1inch, Seba Bank and 17 other startups.
For projects in the early stages of Gate.Io opened a grant program. With its help, the platform finances the study and development of prototypes of Defi applications: decentralized exchanges, landing services, oracles and others.
The program participants receive grants in the amount of $ 100,000, as well as additional funding, assistance in marketing, token listing on Gate.IO and technical support.
Art: NFT MAGIC BOX
In April 2021 Gate.Io launched the NFT Magic Box marketplace. The main feature of the platform is the free creation of tokens.
The site also supports the purchase of NFT for Bitcoin (BTC), Tether (USDT) and Gate Token (GT). Most other marketplaces allow you to buy lots only for native platform tokens.
Gate.IO provides artists with assistance in selling work, conducting exhibitions and training in the use of blockchain technologies.
The exchange regularly conducts activity to introduce more users to the NFT market. For example, for the ninth anniversary of the platform, she announced the airdrop of limited 3D NFT accounts of institutional investors.
Future: Redizin, Appendix and GameFi
In 2022 Gate.Io redesigned, changed the slogan and outlined the goal of the company – to monitor the needs of users and market trends in order to quickly add demanded products.
The platform also updated the mobile application. It appeared a lightweight version with a simplified user interface. Gate plans.Io – make a superpop from it with the ability to launch third -party applications.
Gamebox is already available in the beta version of the application-a built-in browser for blockchain-game. The exchange team plans to develop a mobile direction, and in the future add to the support of metavselny.