In the past couple of years, we have witnessed exponential growth in the DeFi space, with some big players marking their entry. Projects like Maker and Curve Dao have captured a good share of the market, but promising startups like Uniglo combine the best of these protocols to deliver a complete package.
What problem is Uniglo solving?
The year 2022 had the market bleeding to death with extreme volatility. A bear market is an invitation to wild fluctuations that can scare even the best. Uniglo grew out of this concern and developed a social currency that can withstand any market conditions. This is made possible by a community vault that holds a basket of stable cryptocurrencies, digital assets, digitized arts, and appreciating NFTs. The token is immune to whipsaw action as the floor price is protected by tangible and intangible assets. This ensures long-term growth, which in turn, encourages investors to bet on it.
How does it work?
Uniglo is currently in a presale phase of development, where it will start with a small treasury, funded by a 5% tax on each transaction. As the protocol continues to drive mass adoption, it will have more profits to invest in purchasing assets. These are stored in multiple vault addresses that anyone can access to have visibility over the platform’s holdings.
Furthermore, 2% on every GLO trade is completely taken out of circulation to keep reducing the total supply of tokens. Also, the profits generated by the protocol are utilized in buying back and burning GLO tokens as per schedule. This deflationary model ensures a diminishing supply over a period of time, which leads to a sustained price increase.
All the decisions regarding token burns, airdrops, purchase and sale of assets will be in the hands of the community. Every token holder will be able to participate in governance voting to accept or reject a proposal.
Several media outlets have been reporting on the progress of GLO presale, which has garnered a lot of attention among DeFi experts. With a vision to strike a balance between growth speculation and wealth preservation, Uniglo is all set to drive large-scale adoption in the coming years.
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Join Presale: https://presale.uniglo.io/register