The recent crypto market bear momentum has not stopped the native token of Uniglo (GLO) from seeing a 45% price increase. Social currency Uniglo (GLO) will list on the Uniswap exchange on November 18, and users can obtain GLOs using Ethereum (ETH).
As the world progresses, more and more people are turning to digital forms of currency, such as GLO. Many analysts believe the future price of GLO will rise substantially, and there are several reasons for this prediction, which we will discuss in detail.
To give users total power over the platform’s future, Uniglo uses a transparent DAO design, and holders of GLO will have full voting rights. Furthermore, To support the GLO base price, the GLO vault will serve as a complete asset-backed store of value.
Another reason why GLO will rise in value is because of its utility. Groundbreaking dual-burn technology used by GLO guarantees that it will become more scarce over time and resist over-speculation.
How Does Uniglo (GLO) Interact With Uniswap (UNI) And Ethereum (ETH)?
Ethereum invented the idea of a blockchain smart contract platform. Computer programs known as “smart contracts” automatically carry out the terms of an internet-based contract between many parties. Uniglo developed them to lessen the requirement for reliable intermediaries between contractors, lowering transaction costs and improving transaction dependability.
A well-liked decentralized trading system called Uniswap is well-known for enabling automatic trading of tokens related to decentralized finance (DeFi). In September 2020, Uniswap took things further by developing its governance token, UNI, and rewarding previous protocol users. This sentiment increased the business’s potential for profit and its consumers’ capacity to influence its course, which is one of the allures of decentralized organizations. It is based on the Ethereum blockchain and utilizes smart contracts to facilitate these trades.
Uniswap is unique because it offers a trustless, decentralized way to trade ETH tokens, which is crucial for Uniglo.
Uniglo is an ERC-20 token built obviously on the Ethereum network, and users will be able to get GLO tokens on Uniswap via using ETH, the second-largest cryptocurrency and inventor of smart contracts that still holds significant future potential.
Many believe that Uniglo has the potential to disrupt the existing centralized platforms. With its secure and transparent interface, Uniglo could attract a wide range of users, from experienced traders to those new to the world of cryptocurrency. The listing on Uniswap is just the first step for Uniglo. If it is successful, we could see many new features that will bust the Uniglo community.
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