A DAO, or a decentralized autonomous organization, is controlled by its members rather than by a central authority figure. It is built based on a transparent computer program of rules governing how members can vote on matters impacting the organization. Simply, the blockchain enforces these rules instead of a centralized body. A DAO is sometimes referred to as a decentralized autonomous corporation as well.
The cryptocurrency industry is home to several DAOs such as Curve DAO (CRV) and Aave (AAVE). However, an up-and-coming player called Uniglo (GLO) could potentially emerge above the existing DAOs in the market. In this article, we talk about this new player’s unique Community Asset Vault that experts say sets it apart from competitors.
The Uniglo Asset Vault
Before we discuss what the Vault is, let’s first look at the Uniglo project as a whole. Uniglo is a new player in the decentralized finance (DeFi) sphere that introduces a new social currency called GLO. What makes GLO unique is that it will be backed by a carefully selected set of assets that will be stored in the Uniglo Asset Vault. The GLO token will, therefore, not be as volatile as most other cryptocurrencies.
Another key aspect of the Vault is that it is community-based, which means the assets that will enter or leave the portfolio will be based on the voting results of the Uniglo community. This also means that token holders and community members have a direct say in the activities relating to the vault, Uniglo’s asset portfolio. As such, this Vault could be one of the reasons that Uniglo will outperform Curve DAO (CRV) and Aave (AAVE) as DAOs.
Curve DAO (CRV)
Built on top of Aragon, Curve DAO is one of the most reputable DAOs in the market. The Curve platform is an Ethereum-based exchange liquidity pool that facilitates stablecoin trading, liquidity, and income generation. Curve is one of the largest DeFi platforms in the world, and it is powered by the CRV native token. The community uses CRV to exercise their voting rights on matters that affect the ecosystem.
Aave (AAVE)
Built on Ethereum, Aave is a popular decentralized lending protocol. It is a market system where users can lend and borrow Bitcoin (BTC) and other assets. As of this writing, Aave had over $10 billion locked across seven networks in over 13 markets. Aave is also a DAO, which means community members vote on major platform decisions. One of the biggest decisions voted on by the Aave DAO was the creation and release of a stablecoin called GHO. An overwhelming 501,000 AAVE tokens or 99.9% of the community voted to approve the proposal for issuing the yield-generating and collateralized stablecoin.
The bottom line
As a DAO, Uniglo is unique because the voting rights of token holders go beyond the governance of the platform and move deeper into investment portfolio management, property management, and fractionalized ownership.
Find Out More Here:
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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