We’ve got two great big events coming up this month in crypto. We’ve got Cardano’s Vasil Hard Fork and Ethereum’s big Merger under which the network completely drops proof-of-work mining. What usually happens with big news like this is that the smart money buys in way ahead of time and rides the price up and then sells on the date of the event and moves their money over to the next rumored big event. It’s called a “buy the rumor, sell the news,” strategy.
One of the places that whales will be moving their profits is to another crypto asset with a big event the following month. It’s the launch of a new DeFi platform designed especially for long-term investors called Uniglo (GLO).
Uniglo is an investment DAO that’s dedicated to building up a massive portfolio of digital assets including not just crypto and NFTs, but also things like tokenized gold, stocks, real estate, fine art, and rare collectibles. Anything that can be tokenized is fair game.
Uniglo launches in mid-October. The presale ends shortly before launch. This provides ETH and ADA traders with a perfect opportunity to stash away some of their profits for the long haul.
The presale is broken up into three rounds with a number of tokens allocated to each round. Round two is underway, but it ends in less than a week. The price for round 2 was raised by 30% and the price for round three could be raised by even more depending on how fast the presale is selling out. And if it doesn’t sell out then all unsold tokens will be burned. No new tokens will ever be minted.
After that the GLO token becomes deflationary. This is because 2% of all aftermarket sales of GLO are automatically burned. This means the circulating supply of GLO is constantly falling forever and ever. And the more volatile the markets and the more volume in sales, the faster it shrinks. Also, if the price of GLO needs a boost, the community can vote to use some of the investment profits to buy back GLO off of exchanges and burn them.
The capital that is used to invest comes from a 5% buy and sell royalty. Everyone who joins the community must donate 5% to the treasury and everyone who bales leaves 5% behind. These funds are automatically raked into a common treasury. And funds never come out of the treasury. While the supply of GLO is constantly and forever shrinking, the treasury is eternally growing. The more trading, the faster the treasury grows.
This tokenomic scheme especially benefits presale buyers who not only avoid the tax and burn but also get to sit back and watch their treasury and their share of it grow year after year after year.
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