When a new token launches, the spreading of what the protocol is about and how it fills a gap missing in the market usually causes significant price action immediately after launching. Some projects go an extra step further. Uniglo is one such project set to launch in less than a month that will burn a significant amount of the supply immediately after launching, which will increase scarcity significantly and rocket GLO to crazy new heights in only a short time. How does it compare to the SHIB?
Uniglo.io Burn Event
Uniglo allows investor governance, and the investors have voted on something spectacular. At launch, a huge amount of the GLO supply will be sent to the ‘Glo Abyss,’ or burn address, removing the tokens from circulation forever. This is an incredibly bullish move from the team, increasing the rarity of the tokens immediately and showing they mean business when it comes to decreasing total tokens.
Shiba Inu
In a huge marketing stunt, the SHIB team sent half of the total supply to Vitalik Buterin, the Ethereum founder, in early 2021. Not long after, Vitalik proceeded to send 90% of the tokens to a burn address, an amount totaling $6.7 Billion at the time. This size of burn sent shockwaves through Twitter and the crypto community, but didn’t do much for the price, unlike token burns from other projects that have generated significant positive action. This shows that SHIB may be lagging behind the rest of the market now, with minimal reason to invest in the crypto unless significant new innovation comes to the market.
Conclusion
While it is likely that Uniglo will share the same trajectory of accomplishment and success that Shiba Inu has experienced, Uniglo has a far more interesting use case with an in-built automatic burn that constantly removes supply. It also has some unique features, like the GLO Vault. As the vault increases in size and the number of tokens that account for a share of that vault decreases, the price naturally appreciates. This was even featured in Steven Clarke’s Youtube video on Oryen. So if you would like to join the Uniglo collective, act fast to grab your GLO at the most attractive price before the presale ends and the big burn event!
For More Information:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
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