Place/Date: - August 3rd, 2022 at 8:56 am UTC · 3 min read
In a sea of copycat crypto projects, it’s easy to forget that there are still projects out there that offer something unique. If you’ve felt all crypto projects are starting to look the same, consider Uniglo (GLO) a much-needed breath of fresh air. This unique project is an excellent reminder that there are still exciting and innovative projects being developed, like Ethereum (ETH) and Dogecoin (DOGE).
Uniglo is a newcomer to the market, but it is rapidly gaining recognition. It is a new Ethereum-based asset-backed social currency that utilizes two distinct burning mechanisms to provide a hyper-deflationary token.
With complete DAO votes on all critical decisions, the GLO vault is comprised of various assets that help stabilize the base price and offer a real gold standard.
As stated previously, GLO employs a novel dual-burn technique to increase scarcity and decrease supply over time. Within the protocol, Uniglo burns 2% of every $GLO transaction and also finances a buyback and burn operation.
Uniglo protocol funds its unique vault with various tangible assets, such as Bitcoin, Ethereum, Cardano, and NFTs, and uses earnings from this vault to repurchase and burn $GLOs on the secondary market. To support its vault, Uniglo assesses an extra 5% tax on every $GLO transaction.
This variety of features makes this model one of the most deflationary ever created in crypto and in the broader realm of currencies.
The Uniglo presale is now active, presenting an excellent opportunity for investors interested in investing in innovative and forward-thinking cryptocurrency initiatives.
Uniglo has recently passed the KYC test administered by the coinsult team, providing investors with further confidence in this project, resulting in a 25 percent gain in price within the first week of its presale. With the plan for additional security adoptions, Uniglo can become a unique, fully-authorized endeavor that can be relied upon while generating a thousandfold profit.
Ethereum (ETH) is a famous decentralized platform and innovator of Smart Contracts.
In addition to other advantages, Ethereum was successful due to its extensive range of application cases. It permits the creation of decentralized applications (dApps) and coins. This adaptability has led to its adoption by industries ranging from finance to gaming.
Ethereum has been the strongest altcoin of BTC for years and has experienced significant fluctuations since its inception.
The omission of Dogecoin (DOGE) from a discussion of innovative and exciting crypto initiatives could be a mistake.
DOGE was initially created as a joke but is now among the top 10 cryptocurrencies. Dogecoin, which leverages the same blockchain technology as Bitcoin and Litecoin, has pushed for the blockchain to become faster and cheaper.
The most distinctive feature of DOGE is that it appeals directly to meme culture and provides a novel entry point into cryptocurrency investing. In addition, Dogecoin is extensively recognized by shops, businesses, and crypto payment processors. DOGE can be used to purchase online services, computer games, vacations, clothing, cars, and even residences.
In general, despite the ferocity of bearish tendencies affecting DOGE, crypto experts anticipate another surge in the near future.
If you worry about missing the early-entry opportunity in ETH and DOGE, GLO could be the help. Uniglo (GLO) is a reminder that there are still unique projects out there that offer real value. The project is still in its early stages, but the team has made significant progress and is well positioned to succeed in the long term.
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