The brutality of the cryptocurrency market in 2022 has shaken everyone to the core. This requires innovation in a universe where tokenomics are designed to absorb highly volatile conditions. Uniglo is one such concept that utilizes various writing mechanisms to benefit the ecosystem and protocol while preserving the underlying values.
Uniglo not only backs up GLO’s lowest prices on rare NFTs, digital currencies, and tangible assets, but also implements an automatic burn mechanism for each sale. Unlike the current financial system, 2% of all transactions are permanently excluded from distribution and a deflationary model is created.
In addition to this mechanism, Uniglo also employs buyback and burn models. In this model, the protocol buys back $GLO tokens from the secondary market and burns them to increase demand and price. Profit generated from Community Vault assets will be used to purchase additional tokens. Whether it’s his NFTs, cryptocurrencies, collectibles, or digital art digitized, a portion of the sales will be used to purchase his GLO tokens.
This practice not only facilitates the future growth of the Community Vault, but also creates a balance between systematic burning and value creation for token holders. Further development of the protocol will allow users to expect more write events, which will have a ripple effect on the token price.
The Ultra-burn mechanism is intended to reduce the time it takes for $GLO to become a scarce token. The higher the profit, the faster the burn. An increase in price will bring more demand and contribute to the overall development of the protocol. All decisions will be implemented through governance proposals. The community has a say in all token burn events and other important project features.
Supporting the lowest $ GLO rates will greatly contribute to the success of the protocol. This comes back as an incentive to the community that can only be rewarded by holding tokens. Experts believe that this unique tokenomics will obscure things like ATOM, XRP, and even ApeCoin.
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Participate in the pre-sale: https://presale.uniglo.io/register
telegram: https://t.me/Glo Foundation
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