What started as a massive presale round has come to an end with the much-anticipated launch. Uniglo, the first community-owned asset-backed currency, is going through the roof after a colossal burn event. This has attracted attention from bigger communities, including those of Fantom and Shiba Inu.
$GLO has been appreciating against the tide even during bearish market conditions. The innovative fundamentals and tokenomics have played a key role in driving its growth, and this is likely to continue with the expansion of the ecosystem. Experts believe it to be one of the best cryptos launched in 2022.
What makes Uniglo different from other protocols?
The natural cycle of crypto markets is to rise and fall, which in turn, brings extreme volatility into the picture. Wild fluctuations can either wipe out your investments or multiply them in no time. However, in a zero-sum game, not everyone can be a winner. Uniglo has introduced a social currency that can combat market volatility, thanks to its real-time backing by a basket of cryptocurrencies, NFTs, collectibles, and digitized gold.
Besides, the protocol also implements a hyper-deflationary mechanism to ensure a consistently decreasing supply and increasing demand. 2% of all $GLO trades will be sent to a burn wallet with unknown private keys. As a community, Uniglo will also utilize a good chunk of profits from the vault to buy back and burn tokens. This will speed up the value creation of $GLO, thus raising the gains for early investors.
Any decision regarding the purchase and sale of assets will be taken through community voting. Each token holder will have the right to participate in important decisions, and this will be achieved through active engagement.
An ecosystem as versatile as Uniglo is destined to succeed in a highly volatile market. The combination of deflationary tokenomics and an asset-rich vault will ensure a strong price floor with long-term growth potential. $GLO’s presale demand is a testament to what this project can achieve in better market conditions. With exciting developments in the pipeline, Uniglo aims to create a stable asset class that can weather any crypto storm with its mix of tangible and intangible assets.
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