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With Uniglo (GLO) Already Increasing by 45%, Avalanche (AVAX) Community May Move Back To Ethereum (ETH) Chain For This Presale

By Partner Oct 04, 2022

The Uniglo team seems to be having a great time as their Ethereum-based native token, GLO has increased by 45% in the last few weeks. With this increase, some in the Avalanche (AVAX) community are debating whether or not to move back to Ethereum (ETH) chain for the Uniglo presale that is happening until November 18. There are a few critical points that the community is taking into consideration before making their final decision.

What’s Uniglo (GLO)?

Initial Coin Offerings (ICOs) have increased in recent years, with an increasing number of entrepreneurs and projects opting for this means of funding. However, ICOs are not without barriers, and when establishing an ICO, new businesses encounter various obstacles.

One of the greatest difficulties is standing out from the crowd. With so many ICOs occurring, it might be tough to stand out, particularly without substantial marketing spending. Developing a community and generating interest in your idea is crucial and requires time and effort.

Another difficulty is compliance with legislation or auditing. Initial coin offerings (ICOs) remain in legal limbo in many countries, and as the laws and regulations continuously evolve, it may be challenging to comply with them. Therefore you may need to see a lawyer to ensure that you do not violate any restrictions.

Uniglo, a new addition to the Ethereum Network, has only been “alive” for two weeks, but it has so far been able to overcome these obstacles.

In the first few weeks, Uniglo’s popularity skyrocketed, and it now has over 13,000 followers on Twitter, with thousands of active members on Discord and Telegram. The new security upgrade regarding the Audit badge from the Paladin company has further strengthened the project’s reliability. The advantages of Uniglo look appealing to investors, so let’s examine what they offer.

First, Uniglo portrays itself as a social currency intending to establish a unique portfolio of digital assets that will support the value of GLO tokens and benefit users. This portfolio is a so-called GLO vault that will hold cryptocurrencies, NFTs, collectibles, digital gold, and many other digitized assets across many chains to maintain its ecosystem and assure investors of a steady cash flow.

In addition, the protocol has a dual burning process, which entails sacrificing certain GLOs from the market in order to increase the price of the remaining tokens. Specifically, a part of Uniglo’s treasury revenues will be utilized to purchase and remove GLOs from the market. Moreover, every GLO sale will include a built-in tool to destroy 2% of each sale and eliminate it from circulation.

These extreme burning procedures provide the GLO token with a hyper-deflationary, scarce characteristic that is especially attractive to investors who have lost fortunes due to turbulent market conditions.

Avalanche (AVAX) VS Ethereum (ETH) Chains

Avalanche is a fourth-generation DeFi (decentralized finance) system that uses a multi-chain strategy to cut transaction costs and enhance programmability. Avalanche was created to assist Ethereum developers with a variety of concerns, including scalability issues. For instance, currently, Avalanche can process an astounding 4,500 transactions per second, but Ethereum can only handle between 15 and 30 transactions per second. The instant success and obvious benefit have made many ETH chain investors switch to Avalanche back then. However, recent news on the forthcoming Ethereum Merge and Uniglo’s presence on the ETH chain are progressively pushing the AVAX community to return to ERC-20 tokens until the presale is live.