Gate.io Announcement on the adjustment of the withdrawal fee of BRC20 tokens

As the first exchange to support BRC20 token deposits and withdrawals, Gate.io has been committed to supporting the ecological development of the BRC20 community. In the early days of BRC20 tokens, Gate.io provided a large subsidy for withdrawal fees to reduce user transfer costs and incentivize community development. In the long run, a lot of money has been subsidized for the BRC20 ecosystem. With the recent increase in BTC market price, the cost of each BRC20 fee transfer continues to increase, and it is difficult for us to continue to provide large subsidized transfer fees for a long time. Due to the particularity of BRC20, we need to go through two on-chain transfer aggregation and two withdrawal transfers for each BRC20 token withdrawal, for a total of four on-chain transfers, which cost about $100 at the current BTC price. The platform charges users $25 or $1 ORDI for withdrawals, with a subsidy of about $75 per withdrawal.

Gate.io The subsidy of BRC20 tokens will be adjusted and the withdrawal fee will be appropriately increased. Starting from the date of the announcement, the BRC20 withdrawal fee will be adjusted to $80, ORDI remain unchanged at 1 ORDI. After the adjustment, the subsidy for each withdrawal will be reduced to about $20.

Thank you for your understanding and support. As the world’s largest BRC20 trading platform, we will continue to support the development of the BRC20 ecosystem and provide you with high-quality BRC20 token wallet, distribution, trading, withdrawal and transfer services. At the same time, we are also actively exploring solutions to the high BRC20 rates to improve your experience.