Place/Date: - September 8th, 2022 at 10:36 am UTC · 2 min read
It’s rare to find a cryptocurrency project that can beat some of the most well-established players in the market. But here comes Uniglo (GLO), a new decentralized project in DeFi that introduces a burn mechanism and other features that are outpacing the likes of Binance Coin (BNB) and Shiba Inu (SHIB).
The Uniglo project introduces a new social currency – GLO – that is pegged against an asset vault. This means the token will be backed by a range of digital currencies and digitized real-world assets, ensuring that it has a strong foundation whenever the market fluctuates or crypto prices suddenly drop without a sign. A vital feature of the Uniglo project is its unique Ultra-Burn Mechanism, essentially a buyback-and-burn process for GLO. The profits generated by the community will be used to repurchase GLO from the secondary market which is then removed from circulation to ensure the token remains scarce.
Binance Chain is also known for conducting massive token burns. It is committed to burning half its total token supply. Binance Chain implements an Auto-Burn formula and has a real-time mechanism for burning a portion of BNBs that serve as gas fees on the platform. Since 2021, the platform has burned approximately 860 BNBs each day under its BEP-95 program.
Launched in August 2020, Shiba Inu is a two-year-old decentralized cryptocurrency that has become one of the most popular and lucrative assets in the market. Shiba Inu is priced at a fraction of a cent, which makes it very accessible to common investors. The project has a very dedicated community that constantly works toward pushing the price of SHIB and expanding its utility, ensuring that SHIB holders receive consistent gains.
Uniglo will officially launch on October 18 during which experts predict the GLO token will surge exponentially. Join the Uniglo community and get your share of GLO before the platform commences with its burning events.
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