Token burning is a common practice in the cryptocurrency market. It means sending tokens to a wallet with no known private keys, making them inaccessible. This results in a permanent reduction of the overall token supply, which ideally drives the value of the token. Many crypto projects apply this project to make sure their token value continues to increase.
However, for Uniglo.io (GLO), the standard burning of a portion of every transaction is not enough. This decentralized project implements a double-burning feature called the Ultra-Burn Mechanism, which works together with a vault to generate profits for buying back and burning tokens from the market.
With the hyper-deflationary approach of Uniglo.io, some analysts expect to see investors flocking to the launch of the GLO token in the middle of November. Business2Community already lists GLO as one of the cryptocurrencies to explode in 2022. This is very much possible, especially as whales from projects like SushiSwap (SUSHI) are keeping tabs on this new DeFi project.
Uniglo.io (GLO)
Uniglo easily stands out as the first community-owned, multi-asset-backed treasury. By creating an ecosystem that provides price stability, the Uniglo developer team aims to respond realistically to the market’s volatility while becoming a robust partner for those who want to expand their digital asset portfolio.
With a basket of carefully selected cryptocurrencies such as Bitcoin, Ethereum, USDT, BUSD, and other popular tokens, Uniglo.io maximizes the growth potential of both stable and volatile currencies to be able to hedge against market fluctuations.
Moreover, Uniglo.io is a decentralized autonomous organization (DAO) that maintains a Community Asset Vault. DAO members vote on assets that are bought and stored in the Vault. Over time, these assets appreciate in value, boosting the base value of the GLO token. Another wonderful side-effect of the Vault is that token holders can invest in various types of digital assets, including non-fungible tokens (NFTs) and tokenized physical items. This allows token holders to gain access to opportunities like fractionalized ownership, which are otherwise difficult for average investors.
SushiSwap (SUSHI)
SushiSwap (SUSHI) whales are eyeing the launch of Uniglo.io, which is set for launch on the 19th of November. SushiSwap is a type of automated market maker (AMM) that is becoming increasingly popular among cryptocurrency users. The platform is a smart contract-powered decentralized exchange with no order books. SushiSwap differentiates itself by offering features not previously seen on other exchanges, such as increased rewards for network participants via its own token.
The bottom line
Many experts predict the Uniglo.io launch to be explosive. This project is attracting many whales but it is not exclusive to them. With the project’s asset vault and double burn events, DAO Uniglo.io is gearing the project for massive growth to reward longstanding token holders.
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