The landscape of decentralized finance (DeFi) could soon change. A new project called Uniglo.io introduces novel concepts that could help safeguard investments for token holders. Uniglo.io is blowing old players out of the water, potentially making them irrelevant. If predecessors want to retain their position in the market, they will have to get to know Uniglo.io and what it has to offer.
Uniglo.io (GLO)
Uniglo.io is a new player in DeFi that began its presale period on July 15. Currently, the project is in its second phase of presale and is expected to generate wealth in the near term for token buyers. The underlying reason for the popularity of this protocol is the fact that its GLO token will be supported by a basket of assets that include digital currencies and digitized real-world collectibles. As a decentralized autonomous organization, the Uniglo.io community will vote on which assets to invest in, enabling each token holder to have a say on which areas they want their wealth to expand into.
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According to market watchers, Uniglo.io is likely to compel innovation from the likes of Balancer (BAL) and Maker (MKR). A key reason for this is because of Uniglo.io’s idiosyncratic Ultra-Burn Mechanism, which is designed to buy back GLO tokens from the market and remove them from circulation forever. This process could drive the value of GLO, as its supply in the market diminishes. This also means that early adopters are in for long-term wealth accumulation with Uniglo.io.
Balancer (BAL)
Uniglo.io could push Balancer to stay more relevant to the needs of the market. Similar to Uniglo.io, Balancer is built on Ethereum and is related to investment building. It is an automated market maker (AMM) that enables the creation of liquidity and trading pools. The Balancer project is also a portfolio manager that can hold up to eight tokens to be used for trading. A key difference with Uniglo.io is the range of assets that are kept and the extent of active management that a user needs to put in. With Uniglo.io, the asset range is much broader and the ownership of the assets is fractionalized, requiring a more passive relationship with investment.
Maker (MKR)
Just like Uniglo.io and Balancer, Maker is also an Ethereum-based DeFi project. Maker is, however, a peer-to-contract lending platform. It facilitates over-collateralized loans by encrypting ETH in a smart contract. It then issues a stablecoin called Dai. In the near- and long-term, however, Uniglo.io could generate more gains via its multi-asset-backed treasury than Maker could with lending.
Final thought
Uniglo.io might be a newcomer but it is shaking things up effectively. Its arrival marks a new age for DeFi and redefines the quality of service and mode of yield-making that older players are known for.
Sponsored
Find Out More Here:
Join 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
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