Gate

GT is the working gas token of two Gate networks and has exchange utility, but authoritative bodies disagree whether crypto tokens are property (mal).

GT pays transaction fees on Gate Chain and Gate Layer, is staked to secure them, and gives fee discounts, token-launch access and airdrops on the Gate exchange. That is real utility, not an empty record. Much of its value, however, rests on the exchange: the burns are funded from Gate's revenue and the main perks exist only on Gate.

GT has a real function, but the exchange it serves is dominated by derivatives, and Gate Layer hosts a meme-token launcher.

Maysir means gambling, or gains that depend mainly on chance; ordinary price swings are not maysir. GT is not a meme or betting token: it pays gas and is staked. But the activity around it is heavily speculative. On 27 September 2026 CoinGecko showed about 6 times more 24-hour volume on Gate's futures market than on its spot market, and CCData found that in August 2026 Gate's perpetual futures on real-world assets alone ($64.7B) exceeded its entire spot volume ($40.0B). Gate's Q2 2026 report highlights CFD trading and places Gate in the top three for derivatives.

GT's burns are funded by Gate's revenue, which very likely comes largely from derivatives and may include lending interest, but Gate publishes no revenue split, so the 20% and 5% limits cannot be tested.

For exchange tokens, the test looks at the income of the issuing exchange; fees from leveraged trading are disputed activity with a 20% limit, and interest is clearly impermissible with a 5% limit (AAOIFI Shari'ah Standard 20 treats futures without delivery as impermissible). The link is direct for GT: Gate says about 20% of platform revenue, mainly trading fees, buys back GT for the burns, which usually take place quarterly. Gate publishes no revenue breakdown.

The supply cap and burns are published, but Gate controls the token, chains and frozen reserve, supply figures disagree, and its reserves are self-reported.

Gharar means excessive uncertainty or hidden terms. Some things are clear: GT's original supply was fixed at 300 million, and Gate publishes each quarterly burn, with 189.9 million GT burned by July 2026. But control is concentrated in one company that runs the exchange, Gate Chain and Gate Layer. Gate's GT page shows 12.25 million GT frozen without a published release schedule, and circulating and maximum supply figures differ between Gate's own pages and CoinGecko (for example 97.8 million versus 106.6 million circulating).

GT is used for gas, staking and exchange perks, but its own networks now host a meme-token launcher and a perpetuals hub.

GT's basic uses are permissible in themselves: paying gas on Gate Chain and Gate Layer, staking, and fee discounts on Gate. But a notable part of the activity GT is designed to serve is disputed. Since September 2025 GT is the gas token of Gate Layer, whose flagship apps include Gate Fun, a Pump.fun-style launcher for new tokens, and Gate Perp, a perpetual-futures hub. On the exchange, GT perks such as fee discounts apply across a venue where derivatives far exceed spot, and GT can be placed in Simple Earn, which lends it out for interest.

Gate's chains offer cheap infrastructure, but the ecosystem GT supports is built around leveraged trading and token speculation, and Gate has operated without registration in some markets.

Maslahah means weighing real benefit against real harm. On the benefit side, Gate Chain and Gate Layer offer low-cost, fast transactions, and Gate reports reserves above customer balances (115% in Q2 2026) and licences in Malta, Dubai, Japan and US states. On the harm side, the ecosystem GT fuels leans heavily toward leveraged derivatives and a meme-token launcher.