Uniglo has launched its native token, GLO, on Ethereum's largest DEX, Uniswap. GLO, an ERC20 token, functions as the utility and governance token for the Uniglo network.
The protocol is run by a decentralized autonomous organization (DAO) and makes decisions based on its community's interests. The token's recent launch has attracted the attention of many traders looking to invest in profitable projects after crypto markets crashed twice with the LUNA and FTT collapses. Notably, Uniglo now ranks among 2022's best cryptocurrencies to invest in.
Due to price volatility, today's crypto market is not ideal for facilitating transactions. Moreover, the latest crypto meltdown has exposed the risks of using crypto assets for speculation only. Uniglo is the project that brings reliable utility to crypto so businesses can transact without fear of an asset wipeout.
Uniglo Network is built on Ethereum, leveraging the protocol's extensive reach to users. It aims to make crypto the daily currency for settling transactions through a natively stable cryptocurrency – not a stablecoin. GLO is designed to maintain a steadily rising value despite market conditions.
The protocol has created a powerful ecosystem where GLO is deployed to transact reliably. This ecosystem leverages vigorous deflation to reduce token supply, intensifying demand and causing the token value to rise. As a fully decentralized project, the community members have the final say in improving the project.
Tether (USDT) and Ethereum (ETH) have been around for some time now. USDT is a stablecoin whose value is pegged to the US Dollar. Essentially, like the dollar, USDT is inflationary. Many crypto traders prefer stablecoins for their limited volatility. However, the token's value gradually shrinks proportionately to the dollar due to inflation. Another concern regarding USDT is that you're never sure of the transparency of the asset backing because the issuing company is centralized.
Ethereum is a top crypto, second only to Bitcoin. But, just like most cryptocurrencies, ETH is extremely volatile. In just a year, the crypto has plummeted from $4,600 to a paltry $1,200. If a merchant held the token as payment for the period, they would have lost 73% of the value.
GLO is the token that integrates the best of both USDT and ETH and takes it a notch higher. As a result, Uniglo is not only stable, but it also diversifies the assets backing GLO's value. The reserves comprise cryptocurrencies, rare NFTs, and tokenized physical assets, for instance, digital gold. This diversification spreads the risk, unlike USDT, which only uses the dollar as a pegging value.
Additionally, GLO is hyper-deflationary, ensuring the token supply falls over time, unlike ETH, which has no maximum supply.
Arguably, Uniglo is simply the best that crypto has to offer. Steady value, secured assets, and financial convenience – all under one ecosystem. Uniglo makes it easier to start integrating crypto payments with GLO. As a result, recent trends project more USDT and ETH holders adding GLO to their portfolios to facilitate everyday transactions seamlessly.
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Website: https://uniglo.io
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