Token burns are hugely important in the crypto world. They help prevent deflation and increase scarcity, making them dramatically different from regular fiat currencies in the current climate. Traditional fiat currencies like the dollar sold off their reserves long ago and can now be printed whenever necessary to help raise funds. But this printing of extra money devalues the already circulating dollars.
Crypto projects address this issue by implementing burns instead of minting more coins. Some do this alongside allowing mining or proof of stake protocols to help balance the creation of new tokens by destroying some existing ones. However, some crypto projects never print or mint any new tokens and continue to burn over time to make them more scarce over time. Uniglo makes the most of one of the most effective burn mechanisms ever seen in crypto.
Uniglo’s burn mechanic is remarkable. It’s referred to as “ultra-burn.” With it, tokens are burned on every transaction, but the platform’s treasury repurchases more tokens to burn as well. So, even more tokens are burned with GLO than any other platform. The funds for these purchases are raised via a small sales tax, which is also used to buy assets for the GLO vault. With the GLO vault, even more deflationary credentials are offered to holders. Industry expert Jim Crypto has already selected Uniglo as one of the best new tokens in the space, so follow his advice and invest in it as soon as you can.
BNB Coin (BNB)
BNB is also a highly recommended token, but it offers different burn credentials than Uniglo. However, as an essential part of the Binance ecosystem, it still gives upsides for investors. There are a range of benefits on Binance if you hold BNB Coin, and it could have a strong future.
Shiba Inu (SHIB)
Shiba didn’t initially have strong burn credentials but has recently moved to distance itself from the claim that it’s just a meme coin by introducing a substantial new burn campaign. Holders will be rewarded with passive income gains in return for burning some of their tokens to shore up supply and prime SHIB for growth. The burn mechanics still aren’t as strong as Uniglo’s, but they’re a dramatic improvement on what SHIB used to offer.
SHIB and BNB don’t have the same burn credentials as Uniglo, but they still might be good investments. However, GLO has some of the strongest burn mechanics ever seen in crypto and is primed for strong growth over the next few months.
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