The Uniglo community expects even more members after successfully burning unsold tokens from the presale allocation. This massive burn event cuts the supply significantly and will intensify the demand for the $GLO token, resulting in a price hike.
Lately, investors have been abandoning loss-making projects for more profitable ones. Uniglo is among 2022’s most-profitable projects and has proved its resilience and versatility as a financial ecosystem. Moreover, experts indicate that $GLO will have long-term success driven by the project’s underlying deflationary technique.
Throughout the presale period until launch, $GLO surged 65%. Hardly any other project has been profitable in the same period. Instead, they have sunk deeper due to the latest crash triggered by FTX’s collapse.
What is Uniglo’s Goal?
Uniglo‘s goal is to create a united ecosystem where crypto utility thrives. The protocol features the first multi-asset-backed treasury that sustains $GLO’s value against market volatility. The assets held in backup reserves include digital currencies, rare NFTs, real-world collectibles, and digitized physical commodities like gold.
The Glo Foundation DAO selects the most valuable assets to hold in the reserves. Notably, these assets are incredibly diverse. To illustrate, digital currencies held in multi-sig wallets include BTC, ETH, USDT, and BUSD. In addition, NFTs comprise the Bored Ape Yacht Club (BAYC) collection and Axie Infinity. Overall, the project limits exposure to the treasury by diversifying the asset collection.
Apart from deploying a multi-sig wallet, Uniglo regularly audits its smart contracts via Paladin to prevent potential breaches or vulnerabilities. Additionally, Uniglo ensures all assets are managed transparently and that only members can unanimously decide how to utilize the assets.
The $GLO token powers this collective governance. Holders of the platform’s native token can make proposals or vote on suggestions made by other users. The forum simplifies decision-making as the governance is distributed to all members.
How Does Uniglo Compare to Avalanche and Fantom?
Fantom and Avalanche are among the worst-hit projects from the LUNA collapse in May. The current meltdown of FTX.com has aggravated the projects, plunging them deeper into losses. Fantom’s $FTM is down 45% in the past three months, while Avalanche’s $AVAX has plummeted over 50% in the same period.
Similarly, $GLO is up 65% during the token launch – a performance that no top coin can match. Many crypto investors are now rushing back to crypto gems like Uniglo, which offer significantly higher returns. In addition to profits, the $GLO token has far-reaching utility as a very stable cryptocurrency (not a stablecoin).
The $GLO crypto maintains this surging value through the deflationary model it deploys. The first and the largest is the mega burn event during the launch. Progressively, the protocol will cut $GLO supply by buying back tokens from circulating supply and burning. Also, a portion (2%) of the crypto generated from transaction fees is burned. This mechanism ensures that $GLO’s value is steady due to limited supply.
The value of $GLO is rising steadily, making it a must-have token in the bearish markets. Further, Uniglo is dedicated to growing the project and plans to add new features. Of the 217.1 million $GLO, 10,937,000 are allocated to development and an equal amount to the Glo Foundation. A huge portion of the 175 million allocated for the presale will be burned in the course of the project.
Comparing $GLO to $AVAX and $FTM, Uniglo has clearly built a more efficient ecosystem. The token’s multi-asset backing buffers its value from volatility. In turn, the token has utility beyond speculation to be a daily currency for daily activities. Even as $AVAX and $FTM holders rush to Uniglo, expect more sectors and everyday people to adopt the token as their go-to currency.
Learn More About Uniglo
Join Presale: https://presale.uniglo.io/register
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