Place/Date: - September 2nd, 2022 at 1:15 pm UTC · 3 min read
Uniglo has been on a tear lately, proving to Dogecoin and Polkadot holders that ultra burn systems are the way forward. The project has been making headlines and attracting new investors with its innovative use of the blockchain to create a decentralized finance platform.
Now, with a successful initial presale, Uniglo is ready to take things to the next level. The team is planning to launch a mainnet in the coming month and is working on partnerships with some of the world’s leading online personalities.
This is big news for the crypto community, as Uniglo is the first project of its kind to show that ultra burn systems can be used to create a real-world application.
Uniglo is a new cryptocurrency that is based on the ultra burn system. This system is designed to provide a more efficient way of burning coins, which is the process of destroying coins to reduce their supply. By burning coins, the value of the remaining coins is increased.
A sales tax is levied every time someone transacts or purchases GLO. 2% of this sales tax will be burned instantly, increasing the value of GLO tokens. The GLO burn mechanism shortens the time required for the money to become really rare, and no new tokens will be produced.
Uniglo, unlike other traditional stocks, will utilize taxed funds to “buy back” tokens at a set pace, continuing to reduce supply while increasing demand, making the future incredibly bright for established GLO holders.
As a community-driven enterprise, Uniglo will be open to recommendations from the community for investment initiatives and treasury expansion. By buying and burning $GLO tokens, the Treasury gains from these investments will be gradually returned to users, raising the floor price.
The top 15 cryptocurrencies, including Bitcoin, Ethereum, Binance, Cardano, and others, as well as NFTs, will make up the majority of Uniglo’s Treasury Vault. The Treasury Holdings of Uniglo will be protected from speculative endeavors by this asset-backing scheme.
Furthermore, Uniglo is specifically made to have a rising price that is achieved through continuous burning mechanics that automatically reduce supply and raise the price.
With so much potential, it’s no wonder that Uniglo is attracting attention from all over the crypto world. If successful, Uniglo could pave the way for other projects to follow suit and build on the blockchain.
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