Ethereum is a well-known online community and cryptocurrency that is second to Bitcoin in terms of market capitalization. It is one of, if not, the most well-regarded decentralized, open-source blockchain-based digital economy for global payments, digital money, and applications. Since it was launched in 2015, Ethereum has become home to tens of thousands of nodes, running over a million transactions per day. It is undoubtedly a well-established decentralized finance (DeFi) ecosystem to which many developers and users connect and rely on.
But the game could change for Ethereum soon. A new DeFi project called Uniglo (GLO) will be be launched on Ethereum-based exchange Uniswap before the end of 2022. Uniglo has not even been publicly launched yet, but it is already making so much noise in the investor community. In this article, we look at what Uniglo is all about and how it could impact on Uniswap and Ethereum.
Uniglo is a new project in DeFi that recently started its presale season. The project is currently on Phase 2 Presale, doing very well and making its way to the top of the list of must-buy cryptocurrencies for the remainder of the year.
The Uniglo project is a community-owned treasury that is backed by multiple assets. It will create an Asset Vault for all the assets the community acquires, which could include digital currencies, non-fungible tokens, and digitized collectible items such as fine wines and watches. With a strong asset-based foundation, the price of Uniglo’s native token GLO does not rise and fall based solely on speculation. Thus, the GLO token could be stable, reliable, and highly valuable.
Launching Uniglo on Uniswap (UNI)
Uniswap is a popular automated liquidity protocol. It is a leading decentralized exchange on the Ethereum blockchain and one of the most recognizable decentralized exchanges in the world. Uniswap makes use of smart contracts on the Ethereum network, specifically non-upgradeable smart contracts to facilitate transactions.
By the fourth quarter of this year, the Uniglo community will create a liquidity pool on the Uniswap platform. It will then release public tokens into the pool and launch the GLO token by mid-October by airdropping into the wallets of presale buyers.
Uniswap’s place in Ethereum
Uniswap is a powerhouse in itself. It was one of the early DeFi solutions that gained strong traction on the Ethereum Chain after launch. It has also facilitated approximately over $10 billion in weekly trading volume since April 2021. The platform’s governance token UNI was one of the top five largest cryptos by market capitalization last year as well, during which Uniswap had a total value of over $18 billion.
In late June this year, Uniswap famously beat Ethereum in terms of daily fees generated, generating $4.3 million in fees over the 24 hours covering June 20, whereas Ethereum only $3.3 million. As Uniglo launches in October, it could drive the volume of trading activity and transaction fees on Uniswap.
Uniglo’s impact on Ethereum (ETH)
Uniglo is Ethereum-based. The developers of Uniglo wanted to leverage Ethereum’s ability for steady and stable transfers and its strong foothold in blockchain technology that is slated to last for years to come. As such, Uniglo will ideally benefit from having a strong foundation on the Ethereum Chain on which users can access Uniglo’s opportunities for trading, fractionalized ownership, and token price appreciation.
Uniglo is on the second phase of its presale now. During this phase, Uniglo will develop a Multi-Sig Community Vault on Ethereum. The project will also develop a similar vault across Binance Smart Chain, Polygon and Solana.
For More Information:
Join Presale: https://presale.uniglo.io/register
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.