What is Uniglo (GLO) and why did the price just go up 25%? To answer the latter first, it’s simple — supply and demand. While you can’t buy GLO token on public exchanges, you can buy it during the private ICO. The presale is broken up into three rounds. After a seed round, the price of token was raised from $0.01 to $0.0125, a 25% gain. The price is expected to rise for each round. Moreover, any unsold tokens will beburned after the presale is closed potentially spiking the price again just before it goes onto exchanges. (This is why folks like to get in on these DAO presale deals.)
So to answer the first question, Uniglo is an investment DAO. The idea is to build a community of crypto investors who pool their resources and their minds to invest in a diversified portfolio of digital assets. These can include cryptocurrencies such as BTC, ETH, BNB, ADA, DeFi tokens such as CAKE, SUSHI, etc., etc., plus bluechip NFTs, as well as tokenized digital assets. These can include such thins as gold, art, collectibles, and rarities. All holders of the GLO token get to vote on activities such as which assets the DAO buys and sells, the frequency and amount of token burns, and anything else that comes up.
GLO is a hyper-deflationary token. A double burn mechanism makes the token more and more scarce at a faster and faster rate over time. First, a 2% tax on all aftermarket sales of GLO tokens will be burned. Second, any profits generated from selling assets in the treasury can be used to burn tokens at any time if the community wishes it.
A total of 218.75 million GLO have been minted. There will never be more — only less. Out of that 218.75 million, 80.00% is available to the public via the onsite presale. The other 20% is used to fund a liquidity pool, development, and marketing efforts. After GLO hits the exchanges the “tax” will kick in. First, 2% of every transaction will be raked a liquidity pool within Uniswap. Another 5% will be raked into the treasury. And, lastly, 1% will be dedicated to ongoing marketing activities.
What all this means is that as more and more people join the Uniglo DAO, the treasury grows faster and faster producing more and more gains.
As you might have guessed, the tokenomics outlined above (straight from the whiteaper) heavily favor presale investors and long-term holders. This has drawn the interest of both DeFi and layer-1 whales — investors who have previously backed startups such as PancakeSwap (CAKE) and Cardano (ADA).
You can check out the innovative whitepaper and sign up for the presale at the Uniglo.io website.
Learn more here
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
