What is Uniglo?
Uniglo is a community-based social currency that is asset-backed by digitized tangible assets, digital currencies and rare NFTs while embodying scarcity through our idiosyncratic ultra-burn mechanism.
The need for the crypto community to combat market volatility has become more apparent than ever in 2022. To fight against fluctuations and bear markets, Uniglo will hold a basket of stable & volatile cryptocurrencies, digitized tangible assets, and rare NFTs. We aim to build a token that will genuinely grow in value for the long term.
How does Uniglo work?
At the beginning of development, Uniglo will start with a small treasury. 5% Buy and Sell tax will continuously add to the treasury and grow the Uniglo vault over time. As we grow, we will purchase assets and add them to the Uniglo vault to back the floor price of the Uniglo token. The Vault addresses are public and can be viewed anytime to see what we as a community hold.
Ultra-burn Mechanism
Uniglo’s Ultra Burn Mechanism not only burns 2% of the token for every buy and sell of Uniglo, but will also use the profit from selling assets that have appreciated in the Uniglo Vault to Buy and Burn Uniglo tokens. This deflationary model ensures a long-term sustained price increase as the token’s supply diminishes over time. To execute this, we implemented a DAO voting system for all to have a say as a community while we grow & Glo together!
At genesis, there will only be a total of 218,750,000 $GLO created, with the value of each $GLO token fully backed by a basket of everything from cryptocurrencies and real-world assets to the most sought-after Non Fungible Tokens (NFTs) across all blockchains.
Last modified 4mo ago