Uniglo (GLO) is a new project built on top of the Ethereum (ETH) network, combining the best of Maker (MKR) and Curve DAO (CRV).

The Ethereum network is the largest ranked by TVL (Total Value Locked) and also hosts the most basic protocols within DeFi (decentralized finance). Two of these protocols, Maker (MKR) and Curve Finance (CRV) have gained popularity with the prevailing market conditions. As stablecoins become more prolific, platforms dedicated to them are bound to grow. But a new player and contender within the Ethereum ecosystem, Uniglo (GLO) is offering investors something better than a stable store of value; It provides a stable store of value that will increase in value over time.

Uniglo (GLO)

Uniglo is a social currency that will have value protection. The protocol applies buying and selling taxes to token transactions to fund two of its core mechanisms. The first is the Treasury fund. A portion of the tax goes toward raising a capital fund that will be used to purchase a mix of digital, real, and NFT assets that will be stored in the Uniglo Vault. The floor price of the GLO token is directly supported by the value of these assets, and by buying assets that appreciate in value over time, the floor price of GLO will also increase over time.

The second mechanism is Uniglo’s Ultra Burn, where 2% of every token transaction is sent to a burn wallet, making this token hyper-deflationary. When total supply falls, basic economic laws require price to rise. GLO is designed to offer investors a way to preserve and grow their wealth by harnessing the power of asset ownership.

Manufacturer (MKR)

In the maker protocol, anyone can mint DAI, which is the fourth largest stablecoin by market cap. Denominated in USD, DAI is a truly decentralized stablecoin that allows anyone to benefit from digitized dollars. By depositing an asset from a growing list including WBTC, ETH and MATIC, anyone can mint DAI. This platform is one of the core building blocks used by many DeFi protocols. It is the largest ranked by TVL and plays a central role in the sphere.

MKR is the governance token and allows users to vote on proposals that will guide the future of the MakerDAO. It is trading just below $1,100 after peaking at $6,300 in May 2021.

Curve (CRV)

Curve Finance started out as a DEX (decentralized exchange) for stablecoins to allow traders to exchange one stable asset for another and get the best swap with the least variance. Curve Finance has grown into a liquidity giant with more than $6 billion in its smart contracts. It’s the go-to protocol for anyone looking to generate income from stablecoin, and hundreds of DeFi protocols compete for a share of Curve’s liquidity on a daily basis.

CRV is the governance and rewards token. CRV is held in high esteem because it allows holders to vote on the distribution of CRV tokens to liquidity pools, which is known to have led to the corner wars. CRV is now trading at $1.38 and the token’s financial impact on the platform makes it a great token to hold.

Learn more here

Join the 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

Disclaimer: This is a paid version. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of any information available in such content. Do your research and invest at your own risk.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers