After running its presale, Uniglo finally launched with a massive bang and burn. This event followed a successful run through the presale session that saw its native token, $GLO, surge from $0.01 to $0.0165 amid plummeting crypto prices.
The community-governed protocol launched its presale on July 15 and has conducted presale and token sale sessions for four months leading to November 15. In that period, crypto markets have plunged at least 50%, including top coins like $DOGE and $SHIB. Holders of these community-centric tokens may have missed out on a crypto gem with $GLO.
What is Uniglo’s Goal?
Uniglo, like many crypto projects, promises to decentralize the financial system. However, what’s unique about Uniglo’s approach is that the project works to achieve a thriving ecosystem free of market volatility. From its build, the project is well thought out, with key features to keep $GLO’s value stable while maintaining the security and transparency of a blockchain network.
One major concern for mainstream sectors regarding cryptocurrencies is their price volatility. Uniglo has built a network to bridge this gap. So, companies and individuals can use crypto to facilitate payments or store value without worrying about volatility.
The project has a framework of deflationary mechanisms that gradually cut the token supply to sustain $GLO’s value. There are multiple approaches involved in burning the tokens.
The initial event is the burning of unsold tokens from the 175 million $GLO allocated during the presale. Afterward, the protocol will gradually buy back $GLO from the market and burn. Also, from the 10% tax of each transaction, 2% will be sent to a burn address.
How Does Uniglo Compare to DogeCoin and Shiba Inu?
Dogecoin and Shiba Inu are both popular meme coins. So far, they have pretty solid community backing. But that backing is slowly fading as the tokens feel the heat from crypto’s bearish markets. Holders of $SHIB and $DOGE are already down over 30% while crypto markets struggle to recover.
Similarly, Uniglo was up 65% by the launch date and launched with a massive surge. Statistically, $SHIB and $DOGE holders have missed out on a profit-making opportunity. Considering the buzz around Uniglo and the project’s top performance, the $GLO token value could only go one way – upward!
$DOGE and $SHIB traders missed out in the presale but aren’t entirely out yet. Following a solid launch event, they can also jump in to enjoy the perks with other $GLO holders. With the token supply mechanism and asset backing, holders are guaranteed a volatility-free ecosystem and increasing token value on the Uniglo Network.
Conclusion
Uniglo’s ecosystem is versatile and effective. Run by the Glo Foundation, this community-driven project has a lot of gas left in the tank following the launch. With its hyper-deflationary model and asset-rich reserves, the token can be deployed successfully to payment systems and as a way to store value.
Learn More About Uniglo
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
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