Uniglo (GLO) the New DeFi Kid on the Block, Like Aave (AAVE) and 1inch Network (1INCH) in the Past
Once the darlings of the DeFi world, Aave and 1inch have both lost more than 90% of their value in the past year. While both tokens have made some gains since June, if you look at their charts, they’re both still clearly in a downtrend. What do these once popular DeFi platforms have in common? They both started gaining steam just before the previous bull run.
Many investors in these tokens believed these kinds of platforms would see mass adoption and so the prices climbed. However, their usage is far from mainstream. So where did everyone get the crazy idea that they should have billion-dollar valuations?
What does a DeFi platform have to do to gain mass adoption? For starters, it needs to make investing in digital assets easy for everyone, not just crypto geeks. Secondly, it has to have an easy-to-understand value proposition. And thirdly, it has to have a ton of utility.
One such token is GLO. It’s the native token of the soon-to-launch Uniglo platform. Uniglo is a DAO. It’s on a mission to build up a massive and diversified portfolio of digital assets — everything from cryptocurrencies and NTS to tokenized real-world assets. Those could include gold, fine art, antiquities, rarities, and high-value collectibles — assets that the average investor doesn’t have access to. Everyone who holds the GLO token will own a piece of the treasure trove and have a say in what goes into it.
Like Aave and 1inch, Uniglo is launching at the end of a bear market and prior to the next crypto bull run. This gives it another advantage over its predecessors at the concept will in price discovery mode. For how long? Possibly forever, seeing as this is a treasury-backed token. The larger the treasury grows, the higher the price goes. And Uniglo has a nice trick up its sleeve to assure that the treasury is always growing and that the circulating supply of the token is always shrinking.
For starters, everyone that joins the DAO (buys the token) donates 5% of their stack to the treasury. And everyone who leaves the DAO (sells their tokens) must leave 5% behind in the treasury. This means that money is constantly flowing into the treasury no matter which way the market is headed. In fact, the more volatile the market gets, the faster the treasury grows.
GLO is also a reflective token in a sense. But rather than sending tokens back to holders as new members join, 2% of all sales of GLO are automatically burned by the smart contracts, constantly chipping away at the token supply and raising the value of the token for current holders. Moreover, members can vote to use profits from investments to burn even more tokens if the price needs a boost.
As you might guess, it’s the people who get in on this investment DAO early who will reap the most rewards as they sit back and watch both the size of the treasury and their share of it grow.
GLO is currently in presale mode until mid-October. Between now and then, there will be a couple more burns that will raise the price of the token to encourage people to join the community early. Also, any unsold tokens will be burned upon launch which could greatly increase the price of GLO. That is if it hasn’t sold out already by the time you read this.
Learn more here
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
