Crypto exchange Gate has unveiled Gate Layer, its new Layer-2 blockchain built on the OP Stack. The company claims that this solution outperforms existing L2 networks, aiming to boost transaction speeds and reduce gas fees. Gate Layer operates atop GateChain, Gate’s native L1 blockchain.
Key Features of Gate Layer:
- Full compatibility with Ethereum Virtual Machine (EVM), enabling seamless dApp migration.
- Combines the benefits of Gate Chain and GT staking to enhance security and network stability.
- High throughput with over 5,700 TPS and approximately 1-second block confirmation times.
- Lower fees compared to other Layer-2 solutions.
- Integration of LayerZero protocol for cross-chain transactions.
Gate Layer is part of Gate’s “All in Web3” strategy, designed to provide users with a comprehensive suite of financial products. As part of this initiative, the platform has introduced Perp, Gate Fun, and Meme Go:
- Perp: A perpetual futures trading platform with liquidity comparable to centralized exchanges.
- Gate Fun: A no-code, low-cost token launch platform.
- Meme Go: A marketplace for meme-coin trading.
The GT token will remain the native gas token for the entire ecosystem, retaining its deflationary mechanism. As of September 25, over 60% of GT’s initial supply has been burned, with quarterly burn events continuing. The EIP-1559 mechanism on GateChain also sends transaction fees to zero, further reducing supply.
In parallel, GateChain v1.20 has been updated to support BLOB transactions (EIP-4844), upgrade EVM to the Cancun version, and integrate 12 additional EIPs. These enhancements reduce transaction costs and improve security, laying a solid foundation for Gate Layer’s long-term stability.
Gate is not the first exchange to launch a Layer-2 network—Coinbase previously introduced Base. Gate’s leadership has also announced plans to transform the platform into a super app in the near future.
