Uniglo just announced it would be burning all remaining tokens leftover from presale! Analysts are expecting major positive price action following the big burn event. Read on to learn more about how Ethereum Network’s latest project, Uniglo is turning heads in the crypto-sphere and beating off competitors.
Uniglo.io Burn Event
Uniglo’s native token GLO is fully deflationary: its Ultra Burn mechanic incinerates 2% of tokens each time the currency is bought and sold. This means that the pile of GLO is ever-shrinking, at a rate that equals how fast it is traded. Uniglo is a social currency, meaning users can vote to buy back and burn additional GLO to boost scarcity (and therefore also pricing). In fact, it is the Uniglo community that decided to burn the unsold tokens, voting overwhelmingly (if unsurprisingly) in favor of the motion.
Uniglo has already performed admirably in its ICO, seeing a price spike of 55% due to intense demand. How does this compare to other tokens set to launch in similar market conditions?
IMPT is a carbon offset program that aims to assist users in making eco-conscious purchases. IMPT is in its second phase of presale, with no plans for a large-scale burn to underpin pricing or provision for constant burning or any other deflationary measures. Similarly, Big Eyes is another project in presale that demonstrates fantastic marketing, but the development team has neglected to proffer any information about plans for burning.
In comparison, STEPN is a lifestyle project that launched in March this year. It reached its all-time-high (ALT) of $4.11 just a month later, but has since settled at around $0.5 in recent weeks. COMP is the native token of Compound, a decentralized exchange that allows users to lend cryptocurrency for interest returned, or borrow with staked collateral. COMP saw an ATH of $910.54 in June, but can be bought for around $50 today. STEPN and COMP both sit at a market cap of just over $300 million. With the way Uniglo functions, it would be expected that its market cap would surpass this due to its Ultra-Burn mechanic, combined with demand.
Experts have tipped Uniglo for success not only because its burning strategies are outpacing similar young projects reaching market around the same time, but also because these very techniques will give the GLO longevity that will outlast older projects that have already launched. If you wish to get involved with this exciting protocol, act now before the big burn begins!
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.