Uniglo.io Vault Backs Protocol With Investments In Pax Gold, Tether, And Sandbox
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When Uniglo (GLO) entered the DeFi consciousness, it made headlines for introducing two interesting features: its Ultra-Burm Mechanism and its Community Asset Vault. Now, this new cryptocurrency gem is on the move, activating the project Vault and filling it with Pax Gold (PAXG), Tether (USDT), and Sandbox (SAND). This means the floor price of GLO is now backed by a growing value of assets.
Uniglo (GLO) is an asset-backed social currency with a special vault that stores digital assets and digitized tangible assets. The funds used to purchase these assets come from a treasury, which the Uniglo foundation grows from collecting a five percent transaction tax.
The Uniglo foundation aims to grow the Vault with a mixture of asset classes that include top-performing digital currencies, stablecoins, non-fungible tokens (NFTs), and digitized real-world collectible items. The Uniglo community funnels the funds toward buying stable assets that appreciate over time while also acquiring digital currencies that demonstrate speculative growth.
Uniglo thus provides investors with a sturdy asset-backed investment option that hedges against market fluctuations and supports the floor price of its token. Moreover, it offers investors fractionalized ownership of Vault-stored assets. As such, GLO investors collectively vote on activities that affect the value and holding of the Vault.
To ensure security, the team behind Uniglo employs a Multi-Signature Authentication System, which requires the signature of multiple team members to approve a transaction or modification.
Paxos (PAXG) is one of the asset-backed tokens now forming part of the
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