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Uniglo Features
Uniglo is a relatively new DeFi concept that uses a multi-asset backed vault to support its native coin GLO. The vault stores cryptos, NFTs, digital gold, stablecoins, and other assets on secure multi-sig wallets across multiple chains.
Furthermore, thanks to its ultra-burn feature, GLO supply is continually lowered, providing the token with far better resistance strength during unfavourable market movements. Aside from the built-in 2% burn on every GLO sale, the ultra-burn feature repurchases GLO tokens from the market and intentionally withdraws them from circulation.
The vesting term is another distinguishing feature that helps to keep the GLO price stable. Vesting prevents GLO from dumping in the early phases, letting the team establish a firm foundation. Uniglo tokens are vested for 30 days, which means that around 3.3% of investors’ $GLO is unlocked every day until it reaches 100% on Day 30.
Regarding security, the protocol ensured its primary and vesting smart contracts worked properly. Paladin endorsed the Uniglo team’s professionalism, which was essential to GLO’s broader acceptance.
 
 
Furthermore, Uniglo has adopted the Multi-Signature Authentication (Multi-Sig) of smart contracts within Gnosis Safe. Multi-sig optimizes how Uniglo’s Vault assets are safeguarded, requiring a preset amount of signatures to authenticate the most critical transactions. This aids in preventing unlawful access to the community’s assets.
Finally, being a DAO implies delegating management authority to the community. Uniglo’s social channels have welcomed thousands of new followers in recent months, with many engaging in direct discussions with the team.
Uniglo has even designated Thursdays as Learn-To-Earn days, when users may learn new tactics and specifics about the DeFi industry. What’s more, following community voting, the protocol has already made its first GLO vault purchases.
Overall, Uniglo has formed a secure and user-centric ecosystem in which DeFi is simple and reachable to any crypto enthusiast.
What’s Unfit With Solana And SushiSwap?
Solana is an open-source project developing a new, permissionless, fast layer-1 blockchain. Solana’s ambitious design seeks to overcome the blockchain trilemma, yet it still has flaws, such as its vulnerability to centralization.
The greater the number of validators, the more secure the network. However, Solana currently has just 1,000 validators, making its network weak and not entirely decentralized.
Furthermore, Solana doesn’t have a set supply of currencies, making it an inflationary token at some point. Solana began raising the yearly supply of SOL tokens by 8%. However, it drops by 15% each year until it eventually hits 1.5% annually, when it will no longer decline.
This makes investment in SOL dangerous amid market inflation, as seen by the recent negative crypto events.
SushiSwap is a decentralized exchange and an Automated Market Maker (AMM) that uses smart contracts to establish new markets where different pairings of tokens may be exchanged.
Despite its popularity, the platform’s reputation suffered from security vulnerabilities. Detected flaws included failed prevention of the same liquidity provider token from being added more than once, a chance of funds being stolen from the platform if the owner’s private key gets compromised, etc.
Final Takeaway
Uniglo’s solution is the ideal answer for anyone gazing at the crypto market. They have considered the mistakes of the veterans like Solana or SushiSwap and created a product that is easy to use and full of features.
For More About Uniglo:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece.
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