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New token Uniglo (GLO) brings high-quality DeFi back to Uniswap (UNI) while Ethereum (ETH) merger takes place

The decentralized finance (DeFi) space has exploded in recent years as it ushered in a novel way of storing, moving and using money and wealth. The DeFi sector is revolutionizing digital banking, introducing game-changing concepts such as decentralization and disintermediation for traditional financial institutions.

Today, the DeFi sector is filled with thousands of projects offering exchange, staking, liquidity pooling, yield farming, storage, and other services. But what projects are expanding the existing boundaries of DeFi and taking the cryptocurrency market to a whole different level?

A new token called Uniglo (GLO) could be one such project. Uniglo is a new DeFi project built on top of Ethereum that will create a liquidity pool on Uniswap before the end of the year.

Uniglo (GLO): A new promising token

What is Uniglo and why does it exist? The founders of Uniglo conceived this project after observing the tragic events of recent years that have marked the near demise of many cryptocurrencies. A key issue Uniglo aims to address is cryptocurrency’s vulnerability to volatile markets and unstable valuations.

The solution for Uniglo is to launch a social currency based on a wide range of assets that can withstand declining markets. These assets include digital currencies, rare non-fungible tokens, digitized gold, and other digitized real-world collectibles. The project will further implement a hyper-deflationary process called the Ultra-Burn model, which is designed to buy back GLO tokens from the market and burn them. The solutions introduced by Uniglo ultimately benefit investors and long-time GLO owners.

Quality DeFi on Uniswap (UNI)

Sometime in the fourth quarter of 2022, Uniglo will open the liquidity pool on Uniswap and release public tokens into this pool after the official launch of the project in mid-October. Uniglo will airdrop the presold tokens into the designated wallets of the presale buyers.

Uniswap was the top choice for GLO tokens because it is indeed a leading decentralized exchange on Ethereum and a respected automated liquidity protocol. Uniswap deploys smart contracts on the Ethereum network that are non-upgradable.

However, due to the ease of releasing projects through Uniswap, this platform has also seen an accumulation of projects that are of medium quality and redundant. Given the huge amount of attention Uniglo is receiving, Uniswap may be able to turn things around and revitalize its reputation for high-quality DeFi.

The Ethereum (ETH) merger is imminent

Uniglo and Uniswap are both based on Ethereum, the most renowned open source blockchain network in the world. Launched in 2015, the network started with a proof-of-work consensus. Co-founder Vitalik Buterin has spent the past seven years campaigning for the shift to a proof-of-stake methodology that would ideally make Ethereum more energy-efficient and competitive. Finally, a migration is slated to happen sometime this September, as Ethereum recently completed the transition of its third and final testnet — the Goerli testnet — to a proof-of-stake consensus.

last thought

Uniglo brings high quality DeFi back to Uniswap. As Ethereum completes The Merge and reaches a new frontier for open-source blockchain networks, Uniglo is positioned to grow exponentially and offer long-term prosperity to early investors.

Learn more here:

Join the presale: https://presale.uniglo.io/register

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https://nov.link/cryptoanswers

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