Uniglo.io (GLO) Price Still Going Up, While Bitcoin (BTC) Plummets Lower Than 19,000 And Cardano (ADA) Bottoms Out
While Bitcoin and most cryptocurrencies, especially layer-1 smart chains and DeFi tokens, continue to flounder, one up-and-coming DeFi project has seen a steady increase in price in the past two months and may see another big jump by mid-November. In fact, this token hasn’t been one single red candle in two months. How is that possible?
Uniglo (GLO) is currently hosting an initial coin offering (ICO). They’re in the third round of three phases of the presale. The price of the token has been raised after each round and currently sits at $0.0145 — a 45% gain from round 1. Also, any tokens that remain unsold upon launch in mid-November will be burned before GLO goes onto exchanges. If it hasn’t sold out yet, this could cause another big jump in the price of the token. But don’t count on that, as it’s very likely that the ICO will sell out within the next couple of weeks, as tokenomics greatly favor ICO investors.
So what is this Uniglo platform that we speak of? It’s a DAO developed to build a community of long-term investors who work together to maximize their collective profitability. They do this by investing the Uniglo treasury into a wide variety of assets that offer long-term appreciation, including cryptocurrencies and investment-grade NFTs, as well as other tokenized assets like stocks, gold, real estate, fine art, collectibles, and so on and so forth. Anything that can be tokenized is fair game. If there’s another way to build a portfolio such as this by buying and holding one single asset, we’re not aware of it. Anyone?
All holders of GLO get to vote on the investment activities of the DAO, including what assets it purchases and when to take profits and relocate funds. The community can also vote to buy back and burn tokens if it makes economic sense.
The treasury is funded by a royalty on all aftermarket sales. This is a trick borrowed from the world of NFTs. Whenever anyone buys or sells GLO a 10% portion of the transaction is raked into a common treasury — 5% from each party. Also, 2% of the tokens in the transaction are automatically burned by the smart contract.
If you read that right, you’ll notice that this means that money is constantly flowing into the treasury, and the supply of GLO tokens is constantly falling. An eternally deflationary token and an eternally growing treasury is something that Bitcoiners and ADA fans can only dream about. As more and more money gets added to the treasury, it eventually overtakes the market cap of the coin. From that point on, the GLO token is completely backed by a diversified basket of assets.
Uniglo makes diversified long-term investing so simple a child could do it. Just buy and hold GLO. This gives Uniglo a real shot at being one of the first DeFi platforms to see mass adoption, in which case ICO investors will be very well rewarded.
Learn more here
Join Presale: https://presale.uniglo.io/register