A new contender has entered the DeFi space and promises to be one of the hottest tokens of 2022: Uniglo introduces the digital asset standard. Its revolutionary dual burn mechanic could see this project enter a parabolic rally in the coming months, comparable to the early days of Shiba Inu and Polygon.
Uniglo brings a breath of fresh air to DeFi and provides something the space desperately needs: a viable store of value. Already listed by Business2Community as one of 2022’s best projects, and now with a colossal burn announcement, Uniglo readies itself to join the top hundred crypto projects.
Uniglo creates a store of value through diversification and broad asset exposure. The Uniglo vault holds digital assets and NFTs representing tangible assets such as real estate, gold, and fine art. This varied allocation allows for steady and stable returns.
But the spectacular thing about Uniglo is its burning strategy: scarcity creates value. Uniglo’s tokenomics see 2% of every transaction burnt, periodic buyback and burns of GLO from the open market, and now an enormous token burn. Due to limited supply, this hyper-aggressive burning strategy has made each GLO token more intrinsically valuable. The upwards price pressure from this campaign could well send GLO into the stratosphere.
Shiba Inu enjoyed one of the most outrageous rallies ever seen in crypto throughout 2021. SHIB posted gains of more than 46,000,000%, and this rapid rise made many early investors millionaires. Shiba Inu calls itself the ‘Dogecoin Killer’ and combines typical meme coin hype with utility.
The Shiba Inu ecosystem contains a decentralized exchange known as ShibaSwap, where investors can earn passive income with their SHIB. The project undertook one of the most extensive burning campaigns ever witnessed, with more than 41% of SHIB’s total supply burnt to date.
Polygon is a layer-two scaling solution making Ethereum more accessible for the average crypto user. Polygon has seen massive adoption recently, with Meta selecting the blockchain as its partner for integrating NFTs onto Instagram.
MATIC initially sold for $0.00263 per token during its 2019 ICO. Early investors have made more than 300X on their initial investment, even with MATIC’s heavy retracement throughout the bear market. Polygon provided value to the space, and as a result, it grew, and many analysts have remarked that Uniglo’s ICO buzz was incredibly similar to that of Polygon’s.
Uniglo’s value store makes it an ideal bear market hold. But the developers’ hyper-aggressive dual-burn strategy has propelled this token to another level. Price action forecasts for GLO over the coming months predict a 10X conservatively, with more brazen predictions speculating as much as a 150X. Only one thing is certain: Uniglo should feature in every investor’s watchlist.
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