Uniglo.io (GLO) is leading the charge for massive token burning. This project is a new social currency based on the Ethereum network that is gaining a lot of attention. The team behind Uniglo.io is busy preparing for and giving away prizes in celebration of its upcoming launch on the 19th of November. Its native token GLO has a utility range that exceeds that of Shiba Inu (SHIB) or Terra Classic (LUNC). GLO has a potential role in trading, value holding, digital asset ownership, portfolio management, and DAO governance.
Uniglo.io stands out as a social currency platform where the community has control over the decision-making. As a decentralized autonomous organization (DAO), community members share in the benefits, vote on assets to collectively buy and own, and decide on burn events. As such, crypto expert, Darryl Boo, recommends Uniglo to new crypto traders. GLO is a good starting point for someone who is just starting out and eager to learn more about investing in crypto.
The token-burning system of Uniglo.io is a particularly interesting feature. The project implements a dual-burn process called the Ultra-Burn Mechanism, where a portion of every buy or sell transaction is burned. More importantly, the project aims to use profits to buy back GLO tokens from the market, removing them from circulation forever. This process ensures that the token supply of GLO diminishes over time, bringing benefits to long-time investors. This feature could push Uniglo.io ahead of Shiba Inu (SHIB) and Terra Classic (LUNC) in terms of maximizing the benefits of token-burning.
The project also places heavy emphasis on crypto stability without sacrificing the opportunities for aggressive profit generation. To achieve this balance, Uniglo.io maintains a Community Asset Vault designed to store volatiles cryptocurrencies together with stablecoins, non-fungible tokens (NFTs), and digitized physical collectibles.
Shiba Inu (SHIB)
In 2020, Shiba Inu was released as an alternative to DogeCoin, the dog-themed memecoin created earlier. To expand the utility of SHIB, the Shiba Inu developers have designed a dog-themed metaverse that allows users to play, explore, and be creative as they earn passive income. Users can mint virtual landscapes using SHIB or its equivalent amount in ETH. Developers are also launching new phases of the metaverse, which introduce related tokens such as BONE and LEASH.
Terra Classic (LUNC)
Terra Classic is a blockchain platform that uses price-stable global payment systems with fiat-pegged stablecoins. It leverages the price stability and widespread acceptance of fiat currencies and enables quick and low-cost settlements. In 2019, the company announced the acquisition of ten e-commerce platforms across different countries, totaling 45 million users and a gross merchandise value of $25 billion.
The bottom line
Both SHIB and LUNC are known for holding regular token-burning events. However, Uniglo.io could take the lead in terms of the biggest burn events in 2022. The new project is set to implement its Ultra-Burn Mechanism right after its launch in the middle of November, which could spell big gains for presale GLO buyers.
Learn More Here:
Join Presale: https://presale.uniglo.io/register
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
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