Ultra Burn Mechanism
The Uniglo Protocol also has a revolutionary burning mechanism implemented. The burning mechanism will allow for a hyper-deflationary token model, which will, in turn, exacerbate the scarcity and value of the $GLO token.
2% of all buy and sell transactions will be burned. The burned $GLO will be sent to a wallet of which the private key is unknown, called the Uni Abyss.
Our “Ultra-Burn” mechanism is an essential factor that we have introduced to conservatively and rapidly increase the value creation for $GLO. We have a constant burn of 2% from every transaction made within entering and exiting Uniglo. As a community, we also use a more significant proportion of profits from our vaults to purchase and buy back from all our primary sales.
Our Ultra-Burn mechanism will decrease the time it takes for $GLO to become a scarce token, meaning the more profit Uniglo generates, the faster tokens are burned. The appreciation and growth within the vault would bring in more demand, and our Ultra-Burn mechanism will mean a lower supply, inherently raising the price for holders that have never sold.
The method mentioned above is an industry-standard of how token burns are managed; where we differ is in the Ultra-Burn Mechanism. This is achieved through the sale of appreciated assets from our Uniglo Vault. Digital Art, Cryptocurrencies, and Real-world Asset-backed NFTs such as gold can and will be taken from the Uniglo Vault; once a sale and profit have been taken and replenished into the vault, a larger percentage of the sale will be used to buy and burn $GLO tokens causing a rapid and cascading effect.
We have implemented our Ultra-Burn mechanism because we believe in using our vault to continue appreciation and support the floor price of $GLO, which will also directly correlate to the protocol’s success. As more sales and profits are made within the treasury, the more Ultra-Burns occur, inevitably decreasing supply and increasing $ GLO’s price.