Astounding Burn Rate may Put Uniglo (GLO) on The Radar of Binance Smart Chain (BNB) and Avalanche (AVAX) Whales
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Cryptocurrency whales are always on the hunt for the best assets to bet on. And a newcomer to the crypto space–Uniglo (GLO)–is in a unique position to catch their attention. Uniglo aims to implement an exceptional burn rate to preserve its token price. As this protocol begins its first presale, whales could be swarming this project in the coming months.
Uniglo is a new cryptocurrency gem that introduces a dual burn method. First, it applies a standard burn model similar to what most established cryptos do to drive the scarcity of their token supply. Uniglo will burn 2% of the trade each time its token is bought or sold. This method helps preserve the value of the GLO token and thus benefits its holder.
Secondly, Uniglo aims to apply an Ultra Burn Mechanism. The protocol will have an asset vault holding various digital assets and digitized real-world assets. As these owned properties appreciate, the protocol will generate profits from their sale. A portion of those profits will then be used to buy back tokens that will ultimately be burned. This innovative mechanism will create a hyper-deflationary effect that will further preserve the token value.
Uniglo begins its first presale on July 15 and will launch publicly on October 18.
The Binance Smart Chain has been a leader in terms of offering a wide range of exciting services. Some of the activities it supports are decentralized money markets, token swaps, and NFT markets.
With many options for yield, Binance has been a favorite among whales. Because of Binance’s versatility and development opportunities, the number of whales putting massive capital into it increases
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