Gate Research Institute: Gate GUSD on-chain supply exceeds 100 million | Polkadot DAO confirms DOT total supply cap of 2.1 billion

crypto market overview

• BTC (-0.48% | Current Price 115,434 USDT): Recently, the price of BTC has been fluctuating within the range of 115,000 to 116,600 dollars. The price has found support multiple times near 115,400 dollars but has encountered strong resistance near 116,600 dollars, failing to break through effectively. On September 12, the net inflow for BTC ETF reached 642 million dollars in a single day, with BlackRock's IBIT inflowing 264 million dollars and Fidelity's FBTC inflowing 315 million dollars.
• ETH (0.36% | Current Price 4,624 USDT): Recently, the ETH market has shown a structure of strong upward movement followed by a consolidation and decline. After reaching a phase high point near 4,766 USD, the price faced resistance and has currently been trading around 4,620 USD. On September 12, the ETH ETF saw a net inflow of 405 million USD in a single day, with BlackRock's ETHA inflowing 165 million USD and Fidelity's FETH inflowing 168 million USD.
• Altcoins: Most mainstream altcoins have seen slight declines, with market sentiment being predominantly "neutral". The Fear and Greed Index reports 53 today, which is within the normal range, indicating that market sentiment has eased compared to the previous panic.
• Macroeconomics: On September 12, the S&P 500 index fell by 0.05% to 6,584.29 points; the Dow Jones index fell by 0.59% to 45,834.22 points; the Nasdaq index rose by 0.44% to 22,141.10 points. As of September 15, 10:30 AM ( UTC+8, the spot gold price is reported at 3,642 dollars per ounce, with a 24H decline of 0.02%.

Trending Tokens on Juejin

MITO Mitosis (+40.47%, circulating market cap 59.6473 million USD)

According to Gate's market data, the current price of the MITO token is $0.31, having increased by approximately 40.47% in the last 24 hours. Mitosis is a liquidity protocol for the modular era, aimed at redefining cross-chain liquidity. It enhances the attractiveness of this mechanism by increasing the liquidity of cross-chain LPing. LPs of Mitosis will receive derivative tokens that can be exchanged 1:1 for their locked assets.

The main driving factors behind the recent rise of the MITO token include: the official launch of the Mitosis mainnet and dApp, along with the simultaneous introduction of an incentive reward pool to celebrate the launch of tMITO, where users can earn rewards by staking tMITO. Additionally, the Mutate feature (beta version) is now available, further enriching the interactive scenarios of the protocol. At the same time, SPACE ID has expanded to Mitosis, utilizing the .mito domain to support its identity layer, significantly enhancing the application value and user stickiness of the ecosystem.

TOWNS Towns (+24.85%, circulating market value 7,028.39 million USD)

According to Gate market data, the current price of the TOWNS token is $0.03, with an increase of approximately 24.85% in the past 24 hours. Towns is a decentralized real-time messaging protocol built on an EVM-compatible L2 layer, providing smart contract support on the Base network. The protocol promotes the development of ownable and revenue-generating "spaces" through on-chain membership, encryption messaging, and a programmable reputation mechanism.

The core factors driving the rise of TOWNS are the expansion of ecological applications and the rapid growth of on-chain data. As a decentralized real-time messaging protocol, there have been continuous positive developments recently: $TOWNS has been listed on OpenSea; the total amount of tips in a single group within the Towns App has exceeded $105,000; the staking scale of the protocol has surpassed 2.3 billion tokens, accounting for 24% of the total supply, with participants achieving an average annualized return rate of 34.5%. The combination of on-chain activity and economic incentives has jointly driven the strong rise of the TOWNS token.

AVNT Avantis (+11.72%, circulating market cap 160 million USD)

According to Gate.io market data, the current price of AVNT token is $0.91, having increased by 11.72% in the last 24 hours. Avantis is the largest derivatives exchange on the Base platform and also the largest decentralized exchange (DEX) for trading and providing liquidity for real world assets (RWAs).

The main driving factors behind the recent rise of the AVNT token include: the project continues to expand its market coverage, having launched spot trading on a Korean exchange after listing on several mainstream exchanges, further enhancing liquidity and user attention; the platform's reward activities are still ongoing, with a total of 60,000 OP (approximately $50,000) incentive funds distributed, providing users with sustained motivation to participate; at the same time, Avantis has entered the top five fee contribution protocols on the Base chain, indicating its increasing application activity and ecological value.

Alpha Interpretation

Pump.fun's market share on the Solana ecosystem token issuance platform has risen to 90.4%.

According to Jupiter data, as of September 15, in the latest statistics on the market share of token issuance platforms in the Solana ecosystem, Pump.fun dominates with a market share of 90.4%, far ahead of the second-ranked Letsbonk (5.45%) and the third-ranked Believe (1.6%). This data highlights Pump.fun's leading position in Solana token issuance and ecosystem development.

Pump.fun's market share has surpassed 90%, indicating that it has nearly formed a monopoly in the Solana token issuance field. This not only reflects the platform's technological advantages and user trust but also demonstrates the strong preference among users in the ecosystem for efficient, secure, and feature-rich token issuance tools. In the future, if Pump.fun can continue to optimize the experience and launch more innovative features, it is expected to further solidify its leading position in the Solana and broader Web3 ecosystem, while also posing significant competitive pressure on other token issuance platforms.

Gate GUSD on-chain supply exceeds 100 million, with three major mining pools in progress.

The on-chain supply of Gate GUSD has surpassed 100 million USD. Users holding GUSD in spot, wealth management accounts, and Launchpool can enjoy an annualized yield of approximately 4.4% from minting, along with product returns to achieve dual interest returns. Currently, Gate Launchpool is simultaneously running three major GUSD mining pools: AVNT pool with an annual yield of 16.32%, U pool at 16.85%, and BOT pool at 16.07%. GUSD is supported by the revenue of the Gate ecosystem, government bonds RWA, and stablecoin assets, featuring trading, collateral, and yield functions, providing users with a robust yield plan.

The supply of GUSD has exceeded 100 million, indicating a rapid increase in market acceptance of the Gate stablecoin ecosystem. Its revenue model combines stable on-chain returns with DeFi mining incentives, which not only strengthens the asset attributes of GUSD but also enhances its circulation value within the ecosystem. The high annualized returns provided by Launchpool further attract funds, helping to solidify GUSD's competitiveness in the stablecoin sector. However, whether it can continue to attract users in the future depends on the sustainability of returns and the robustness of the underlying asset support.

Polkadot DAO proposed to set the total supply cap of DOT tokens to 2.1 billion.

Polkadot DAO's (Decentralized Autonomous Organization) Proposal No. 1,710 passed with a high support rate of 81%, setting the total supply cap of DOT tokens to 2.1 billion. This means that Polkadot will end the current model of unlimited supply with an annual increase of 120 million DOT. According to the new proposal, future increases in DOT supply will occur through a progressively decreasing method every two years, significantly slowing down the growth rate of token supply and bringing more scarcity expectations to the market.

The approval of this proposal marks the entry of the Polkadot economic model into the "fixed supply + diminishing issuance" stage, which has significant implications for investors and ecosystem participants. On one hand, the supply cap and the gradual reduction mechanism may enhance the scarcity value of DOT and boost the confidence of long-term holders; on the other hand, this also reflects the increasing maturity of Polkadot's ecosystem governance, with the community's focus on inflation control and the sustainability of token economics strengthening. In the short term, the market may form positive expectations for DOT, but it is also necessary to pay attention to the balance effects of gradual reduction on network incentives and ecosystem expansion.
Reference:

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Jupiter, https://jup.ag/pro?tab=launchpads
• Gate, https://www.gate.com/staking/GUSD
• X, https://x.com/Cointelegraph/status/1967385396255322185

Disclaimer Investing in the crypto market involves high risks, and users are advised to conduct independent research and fully understand the nature of the assets and products they are purchasing before making any investment decisions. Gate does not assume any responsibility for any losses or damages caused by such investment decisions.