DeFi protocols are jostling amongst each other to attract liquidity as capital flees up the risk ladder. An incredible amount of development is taking place in the DeFi sphere, and all of these protocols busy building throughout the bear are laying the foundations for enormous rallies when the market sentiment reverses.
A new Ethereum-based protocol Uniglo (GLO), is displaying great strength in its ICO (Initial Coin Offering) phase, with similar strengths to Uniswap (UNI). The last question that remains is whether it can pull ahead of PancakeSwap (CAKE)?
Uniglo (GLO)
The recent market volatility in the digital asset space has fostered an enormous desire amongst investors for a long-term store of value- Uniglo delivers this. This social currency leverages asset ownership and deflationary tokenomics to provide the solution.
Buy and sell taxes create a revenue stream to fund value-creation mechanisms. The first is asset ownership, with the Uniglo Vault acquiring physical and digital assets to give GLO a value-backed floor price. By holding high-end goods such as fine art, the Vault is resistant to a market downturn, and by holding small cap cryptos, it benefits from growth speculation and contains a wide variety of assets in between, such as BTC, ETH, and gold. The second mechanism is an aggressive burning strategy that sees 2% of every transaction sent to the Uni Abyss, a burn wallet with an unknown private key. This sustained reduction of GLO’s total supply naturally puts upwards pressure on its price.
Uniswap (UNI)
Uniswap remains the fifth largest DeFi protocol ranked via TVL (Total Value Locked) and, even in the current market conditions, has more than $5 billion locked in its smart contracts. By introducing liquidity pools, Uniswap enabled permissionless swaps within DeFi.
Uniswap developed the Automated Market Maker (AMM) model, which sees investors supplying liquidity and earning trading fees, and traders interacting with smart contracts allowing 24/7 trading with low slippage. Uniswap’s contribution to the DeFi space cannot be overstated, and UNI, the governance and liquidity token, is an excellent choice for investors.
PancakeSwap (CAKE)
PancakeSwap is a food-themed decentralized exchange launched by anonymous developers in 2020 and has quickly become a firm favorite amongst DeFi enthusiasts. It is the most visited decentralized exchange, and for a good reason, this platform’s yield generation possibilities are almost limitless.
Find Out More Here
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
Telegram: https://t.me/GloFoundation
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
