It has been a painful year for crypto investors, with the bears having complete control over the market. Dead cat bounces have become a norm, as we enter the last quarter of the year with lots of uncertainties. Looming fears of recession and prolonged crypto winter have kept investors on the sidelines.
Some reputed names in the industry like Celsius and Tenset have fallen apart for different reasons, and the path ahead looks challenging for both projects. On the other hand, upcoming projects like Uniglo are under the limelight with a massive presale demand within a few weeks of their inception.
What’s the deal with Uniglo?
The trend of community-based tokens has existed ever since Dogecoin came into the picture. Over the years, we have seen hundreds of such cryptocurrencies released to the market, with very few holding strong ground.
Uniglo is a new concept, wherein the developers have identified a gap that can be leveraged to benefit the crypto community. For the first time, a social currency will be backed by a basket of tangible and intangible assets. These may include everything from digital currencies and digitized gold to NFTs and collectibles.
GLO token redefines a unique set of asset classes that not only ensures a stable floor price, but also long-term growth. Appreciation is guaranteed through an ultra-burn mechanism in place. For every token bought or sold on the network, there will be a 5% tax applied to it. Funds accumulated from this transaction will be added to a dedicated vault, where all the users will have access to its address.
Additionally, 2% of the amount will be sent to a burn address with unknown keys. This implies the overall supply will keep reducing to create scarcity. The protocol will also invest its own profits to buy back and burn circulating tokens. The aim of the project is to balance speculation with growth while protecting investors’ money from market fluctuations.
Find Out More Here
Join Presale: https://presale.uniglo.io/register
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