July 21st, 2022 at 9:17 am UTC · 3 min read
Yet in ICO, Uniglo (GLO) seems to be preparing to blow investors’ mind. Revolutionary ultra-burn mechanism that triggers supply and pushes prices up is the main driver of investors’ attention. What is GLO, and how does it apply pressure to Mina (MINA), NEM (XEM), and Shiba Inu (SHIB)?
Tons of new ICOs are launching each day, what makes Uniglo unique? Well, its truly innovative and ground-breaking burning mechanism. The hyper-deflationary token model made possible by the “burning mechanism” is believed to increase the $GLO token’s rarity and worth.
To preserve and maintain the floor price of $GLO, which is also directly tied to the protocol’s success, Uniglo implemented the Ultra-Burn mechanism. A decrease in supply and an increase in the price of $ GLO eventually follow the more Ultra-Burns due to more significant sales and earnings within the treasury.
Token burning is not new, and MINA, NEM, and SHIB will claim leadership in burning mechanisms. So, how does GLO plan to put pressure to them?
Even if each of those three tokens offers a distinct approach to token burning, they all adhere to the same, outmoded framework. For instance, users can reduce the overall quantity of currencies by burning cryptocurrency to remove tokens, also known as coins, from circulation.
The tokens are sent to a wallet address that can only be used to receive currency. Because the wallet is not connected to the network, the tokens can no longer be used. This is a well-established method to push price trends.
Meanwhile, Uniglo appears to make whole burning concept more exciting and attractive for investors.
A crucial element that has been added to steadily and quickly improve the value production for $GLO is the “Ultra-Burn” process. Every $GLO transaction conducted when entering or leaving Uniglo has a continuous burn rate of 2%. Additionally, the community uses a larger share of the vault proceeds to buy and buy back from all direct sales.
The Ultra-Burn mechanism will decrease the time it takes for $GLO to become a scarce token, meaning the more profit Uniglo generates, the faster tokens are burned. The appreciation and growth within the vault would bring in more demand, and the Ultra-Burn mechanism will mean a lower supply, raising the price for holders that have never sold.
The technique for managing token burns, the Ultra-Burn Mechanism, is where they diverge. The Uniglo Vault can and will be used to withdraw digital artwork, cryptocurrencies, and real-world asset-backed NFTs. After a sale, a more significant portion of the proceeds will be used to purchase $GLO tokens, creating an immediate and adding effect.
One of the most intriguing aspects of this new world is how these assets can be used to democratize access to financial services. For example, Uniglo’s new Ultra-Burn Mechanic allows users to “burn” their cryptocurrency holdings to make their holdings worth even more.
This initiative is a big deal since it represents a major step forward in adopting cryptocurrency.
The Ultra-Burn Mechanic is just one example of the innovative ways Uniglo uses cryptocurrency to its advantage. With this move, Uniglo is again demonstrating its commitment to leading the way in adopting new technologies.
Setting new standards, Uniglo has the potential to become the next market-leading cryptocurrency.
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