Global crypto exchange Gate.io just celebrated its 12th anniversary. To establish itself in the market, the brand is looking to revamp its brand value by expanding its Web3 ecosystem. The announcement not only came with a bang but also with an all new chinese name called Damen, which stands for The Gate.
The platform was founded in 2013 and has since grown into one of the most recognized crypto exchanges in the world. It supposedly serves over 22 million users. For years, it has consistently ranked in the top three in liquidity and in the top two in trading volume.
New Name Better Services
The platform understands the requirement and has a detailed corpus of over 3,800 currencies. The platform offers a wide array of service options, including financial services, leveraged tokens, and spot trading. Hence, it can be safely stated that the platform has something for everyone.
Furthermore, Gate.io is also one of the first platforms to adopt 100% proof of reserves. To implement this, the platform partnered with Armanino LLP to offer its clients a corpus of variable assets.
The all-new Web3 partnership of Gate with Web3 will increase the token’s area of influence. This partnership will revamp the application into something much bigger than a trading platform. The change will certainly bring in more features that could change the very face of the trading community.
While some say that this update could be detrimental and iffy, others believe that it is about time. Therefore, only time can tell what the outcome of Gate.io’s move will be. Sorry, Damen.io
