Uniglo (GLO), a new cryptocurrency, is pushing the boundaries and says 100x gains are possible, similar to what we’ve seen with Shiba Inu (SHIB) and Aave (AAVE). While there is disagreement as to whether this is achievable, there is no denying that Uniglo has potential. In this article, we’ll take a closer look at Uniglo, what makes it unique, and whether the project’s lofty goals can be met.
What is Uniglo (GLO)?
Uniglo; It is a community-driven, asset-backed cryptocurrency based on Ethereum. The platform has designed a community-dedicated “GLO vault” to host unique digital and physical NFTs to support the price of its native token, GLO. This provides a volatility protection. It also indicates compelling use cases, indicating that it is a solid cryptocurrency. Uniglo treasury vault will store top 15 cryptocurrencies and NFTs including Bitcoin, Ethereum, Cardano and more.
The innovative social currency Uniglo changes the tokenization process by applying two different types of burns. The burn rate for each GLO operation is 2 percent. Additionally, the protocol proceeds will be used to permanently purchase GLO tokens on the open market and remove them from circulation. The primary purpose of the protocol is to provide a consistent floor price for the token GLO. In addition, Uniglo will only issue a limited amount of tokens and any unsold tokens will be destroyed after the pre-sale stages.
Uniglo’s potential
While the goals and solutions offered by Uniglo are quite surprising, is it a credible project? The project has a great degree of security. The first two weeks of the Uniglo ICO started with a statement that the team had received KYC verification from the Coinsult company. The announcement instantly boosted investor confidence and delivered a 25% overnight price increase. Recently, Uniglo announced another security upgrade. Official Twitter accounts reported that Uniglo’s primary smart contracts were under review by the Paladin Blockchain Security group. According to the report, available on Paladin’s website, no high-risk issues were found in the code, and the team was able to identify and fix several low-risk bugs with relative ease.
With crypto scams constantly evolving and expanding, it is difficult to distinguish between legitimate and fraudulent projects. The Uniglo team seems to have understood that the only way to gain the trust of investors is to constantly show their authenticity. Uniglo looks like a strong investment option with a 100x return potential in the long run as it combines a high degree of security with a high chance of return. While it may seem grand, the team’s daily commitment to building a connected community and meticulously executing roadmap milestones keeps their goals achievable.
Uniglo’s latest performance has often been compared to Shiba Inu and Aave. Both altcoins have experienced tremendous and rapid growth in the past. But he eventually fell victim to the latest crypto winter. Uniglo seems to have learned from the mistakes of SHIB and AAVE and developed a social currency that has the power to hedge against market inflation and sustain its rise even in a bearish ecosystem.
As a result
There is no shortage of ambitious projects in the cryptocurrency space, and Uniglo.io (GLO) is one of them. While the team behind Uniglo.io believe their project has the potential to grow 100x, similar to the Shiba Inu (SHIB) and Aave (AAVE) in the past, only time will prove that. For now, investors and analysts are optimistic about the project. For more information about the project, you can visit the links below:
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