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Gate.io to build DeFi scosystem on its public blockchain

Wednesday 19 August 2020 08:34 CET | News

Gate.io, a global digital asset exchange, has announced building a GateChain DeFi network, featuring stablecoin (USDG), Decentralised Exchange (DEX), Decentralized loan, and liquidity mining.

Gate.io’s public blockchain, GateChain Mainnet, is already live. It offers a Vault Account feature that can revoke stolen funds. Some highlights of GateChain DeFi infrastructure include:

  • USDG will be the base currency for the GateChain DEX. Specifically, GateChain Defi will roll out stablecoin USDG through a Collateralised Debt Position, where anyone can collateralise GT and high-quality blockchain tokens to produce USDG;
  • Gate.io will create a reward pool for the USDG network and GateChain Decentralised Lending system via GT buy-back;
  • GateChain contains a Decentralised Governance mechanism, where each GT holder is eligible to vote. Users can participate through proposal submissions and voting;
  • GateChain will integrate with multiple public chains such as Ethereum, Bitcoin, Cosmos, and Polkadot chains to enrich decentralised products;
  • GateChain Defi will provide a Fingerprint Hardware Wallet for daily use, ensuring the private key will be kept within the Hardware Wallet while enabling users to do routine trading and transfers;
  • Gate.io will investigate teaming up with Oracle pioneers and decentralised KYC leaders to prove relative services to its users, seeking to create a sustainable GateChain DeFi Eco with diversified DeFi products.

According to Gate.io, Decentralised Finance (DeFi) has been gaining momentum. All kinds of products such as DeFi stablecoins, DeFi loaning platforms, and DeFi trading networks are growing in popularity with over USD 4 Billion locked in value in the DeFi space.


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Keywords: Ethereum, Bitcoin, Cosmos, blockchain, Gate.io, Decentralised Finance, DeFi, USDG
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies