A token burn is a widespread practice to reduce the supply in circulation and increase the value of the remaining tokens. For instance, Binance, the world’s largest cryptocurrency exchange, burned more than 5 million BNB tokens last year.
Uniglo.io, a leading provider of asset-backed deflationary currency, is equipped with multiple burning strategies, and the Twitter announcement regarding destroying leftover GLO tokens from presale is just the beginning. This move will likely rival Binance’s quarterly burns, Big Eyes’ auto-burn, and Shiba Inu’s burn portal.
Uniglo‘s Burning Strategies
Uniglo is pioneering a novel ICO strategy with four unique stages, each culminating in the burning of unsold coins. This approach aims to decrease supply and attract more customers during each selling period. Uniglo has already soared by 55%, and with a massive final presale token burn ahead, the $GLO listing price will likely skyrocket.
This strategy signifies a substantial change in how ICOs are performed and will undoubtedly disrupt the industry. Recent failures of initial coin offerings certainly impacted Uniglo’s choice to implement this new approach. Due to excessive pricing and poor demand, several endeavors have failed to reach their goals.
The ultra-burn mechanic’s tokenomics has contributed to Uniglo’s success. Uni Abyss, a wallet with untraceable private keys, receives 2% of $GLO tokens during purchases and sales. Furthermore, the community periodically buys back circulating GLO tokens to burn them. This dual method decreases the $GLO supply and massively boosts the value of each token.
Big Eyes Coin
Big Eyes (BIG) is a community-driven utility token network for the meme market that employs non-fungible tokens (NFTs) for event and content access. In addition, the company is dedicated to protecting a crucial component of the global ecosystem by contributing 5% of its earnings to charity wallets and supporting ocean preservation programs.
Big Eyes Coin is equipped with an auto-burn mechanism that occasionally decreases supply. However, burn rates are not displayed on the website.
Shiba Inu
Shiba Inu regained its sparkle when the team introduced a Shib Burn portal. Every SHIB owner can visit the portal, burn any amount of SHIB from their holdings, and receive RYOSHI tokens as a reward.
While this flexible practice motivated many individuals to burn SHIB, the system solely depends on the community. Therefore, with no fixed terms and guaranteed burning rates, SHIB might need much more time to reduce its massive supply and gain value.
How Binance burns BNB?
Binance burns a portion of its BNB supply every three months to enhance the token’s price over time. For instance, the latest 21st BNB burn event occurred in October and destroyed over 2 million BNB tokens. However, it had little effect on the value of Binance Coins, as BNB prices fell in tandem with the rest of the cryptocurrency market.
The Bottom Line
With a dual ultra-burn mechanic and massive presale token burn ahead, Uniglo is shaping into one of the greatest deflationary assets in the market. The presale is counting the final days. Therefore, the earlier you join, the greater profits you secure.
For More About Uniglo:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
