Gate emphasized that the true differentiation lies not only in speed and low transaction costs but also in the ability to provide instant liquidity and an existing user base. Additionally, they highlighted the importance of offering practical DeFi products. At the same time, the upgraded tokenomics mechanism positions GT not merely as an exchange token but also establishes GT as the evolving “fuel” of Gate’s Web3 ecosystem. Competitive Pressures Major players have already rolled out their own Layer-2 (L2) solutions—such as Coinbase’s Base, Binance’s opBNB, Kraken’s Ink —and the launch of Gate Layer marks a critical milestone in Gate’s Web3 infrastructure strategy
source: https://beincrypto.com/gate-ceo-gt-tokenomics-upgrade/