As Ethereum approaches its seventh anniversary, some incredible things have happened in the blockchain world. Perhaps most notably, the rise of decentralized finance (DeFi) applications has taken the industry by storm. In the last few months alone, we’ve seen a launch of tons of new projects built on Ethereum that offer a wide range of services from lending and borrowing to derivatives trading and more. Three of the most popular Ethereum-based protocols in the DeFi space worth checking out are Uniglo (GLO), Uniswap (UNI), and Ethereum (ETH) itself.
Uniglo (GLO)
Ethereum-based Uniglo has recently appeared in the crypto sphere and is gradually gaining fame among investors. The Uniglo Protocol builds a hyper-deflationary token model made possible by launching the ground-breaking double-burn mechanism, believed to increase the $GLO token’s rarity and worth.
A crucial element that Uniglo has implemented to safely and quickly accelerate wealth production for $GLO is the “Ultra-Burn” technique. as a community, Uniglo uses a larger amount of the revenue from their vaults to buy back $GLO tokens from the secondary markets and burn.
In addition, every transaction completed inside and outside of Uniglo has a continuous burn rate of 2 percent.
The Ultra-Burn method of Uniglo is intended to shorten the period of time it takes for $GLO to become a valuable token; hence, the more money Uniglo makes, the quicker tokens are burnt.
The vault’s development and appreciation are determined to increase demand, and the Ultra-Burn process would result in a reduction in supply, automatically raising the price for investors who had never sold.
Uniglo (GLO) will “See The Light” from the 15th of July and enter the first presale round.
Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) also built on Ethereum that allows users to swap ERC20 tokens without using a centralized exchange.
It uses an automated market maker (AMM) model in which liquidity providers can earn fees by providing liquidity to the pool. UNI is an ERC20 token created to be used as a governance token for the Uniswap protocol. UNI holders can vote on proposals that would change the protocol’s work, such as adding new features or changing fee structures.
Ethereum (ETH)
Finally, Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference. These apps run on an enormously powerful and shared global infrastructure, a custom-built blockchain, eligible to move value around and represent ownership of property. This lets developers create markets, store registries of debts or promises, move funds per instructions given long in the past, and many other things impossible for legacy financial systems. Ethereum blockchain’s native token is ETH.
Bottom Line
Most interestingly, all three projects, Uniglo (GLO), Uniswap (UNI), and Ethereum (ETH), have a few things in common. First, all three are built and developed on the Ethereum chain, and second, Uniglo plans its launch on the Uniswap exchange.
Could the success of one of these protocols influence the rest? Obviously, yes. While Ethereum is already a widely adopted and popular crypto project and the second-largest by the market cap, further future success is expected, especially after its newest update, Ethereum 2.0, launches. Ethereum’s broader success will directly affect the popularity of projects built on its chain, like Uniglo.
Uniglo is the newest crypto gem and revolutionary DeFi player with the independent power of hedging against market volatility thanks to the burning methods.
Learn More About Uniglo:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
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