Uniglo.io Burn Proposal Passed
Uniglo is hitting the headlines after announcing that it will burn all unsold tokens following its presale! Uniglo is community-driven, so it put this question to its early adopters, who overwhelmingly voted in favor to burn. Not surprising: Typically, wide-scale burning leads to price hikes as demand rises in line with scarcity. Users can also vote on important decisions like what to place in the Uniglo Vault: Uniglo intends to underpin the value of GLO by acquiring rare, valuable NFTs alongside other assets like cryptocurrency, gold, and collectibles. Users might also opt to buy back large amounts of GLO to burn. Uniglo also features the Ultra Burn mechanic in place to keep GLO deflationary. As users adopt and trade with GLO, 2% of each transaction is burned in order to keep price pressure on the token. The more it is used, the smaller the quantity decreases continually. Deflationary tokens are becoming increasingly popular as investors fall out of love with traditional fiat, which is suffering badly from ruinous inflation.
Shiba Inu is a well-known meme coin featuring a lovable puppy. Quite aptly, it has an incredibly loyal fan base whose support has given the project some real longevity. Shiba Inu has launched Shibaswap, and the coin continues to reinvent itself. In May this year, Ethereum founder Vitalik Buterin donated 10% of his SHIB holdings to Covid-19 aid and burned the remaining 40%. It is important to note that Buterin was allocated half of SHIB’s ICO. Since this major burning, SHIB has suffered very low burn rates: October was its worst on record in the last 18 months. Just 5% of profits from Shiba Eternity will be burned, signaling that the development team is not making burning a priority at this time.
Tamadoge is a cute gaming platform in which users buy TAMA to purchase pets to breed and play with online, with Play-to-Earn (P2E) capabilities. Tamadoge is a meme coin that launched its presale in June this year. Tamadoge has pledged to burn 5% of all pet store transactions in its virtual world. While this may sound like an attractive figure, in reality, it will likely only make up a fraction of all transactions in the Tamadoge universe.
Burning is intrinsic to how Uniglo operates, keeping up a significant rate that is channeled straight into underpinning the price of GLO. The same cannot be said for other projects, like Shiba and Tamadoge. If you wish to purchase GLO before the big burn event, act fast, as presale ends very soon.
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Join Presale: https://presale.uniglo.io/register
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