The Ethereum network is the largest ranked by TVL (Total Value Locked) and is also home to the most foundational protocols within DeFi (decentralised finance). Two of these protocols, Maker (MKR), and Curve Finance (CRV), have grown in popularity with the prevailing market conditions. As stablecoins become more prolific, platforms specialising in them inevitably grow. But a new player and contender within the Ethereum ecosystem, Uniglo (GLO), is offering investors something better than a stable store of value; it offers a stable store of value that appreciates with time.
Uniglo (GLO)
Uniglo is a social currency that will have value backing. The protocol employs buy and sell taxes on token transactions to fund two of its central mechanics. The first is the treasury fund. A portion of the tax will go towards amassing a capital fund that is used to buy a blend of digital, real-world, and NFT assets that will be stored in the Uniglo Vault. The GLO token’s floor price will be supported directly by the value of these assets, and by purchasing assets that appreciate with time, the floor price of GLO will also appreciate with time.
The second mechanic is Uniglo’s Ultra Burn, with 2% of every token transaction being sent to a burn wallet, making this token hyper-deflationary. As its total supply drops, fundamental laws of economics demand that the price will rise. GLO has been built to offer investors a way to preserve their wealth and allow it to grow by leveraging the power of asset ownership.
Maker (MKR)
The Maker protocol is where anyone can mint DAI which is the fourth largest stablecoin by market cap. Denominated in USD, DAI is a truly decentralised stablecoin that allows anyone to take advantage of digitalised dollars. By depositing an asset from a growing list, including WBTC, ETH, and MATIC, anyone can mint DAI. This platform is one of the core building blocks used by many DeFi protocols. It is the largest ranked by TVL and plays a central role in the sphere.
MKR is the governance token and allows users to vote on proposals directing the future of the MakerDAO. It trades just below $1,100, down from a peak of $6,300 in May 2021.
Curve (CRV)
Curve Finance began as a DEX (decentralised exchange) for stablecoins to enable traders to exchange one stable asset for another and get the best swap with the lowest slippage. Curve Finance has become a liquidity giant with more than $6 billion locked in its smart contracts. It is the go-to protocol for anyone looking to generate yield with stablecoin, and hundreds of DeFi protocols fight daily for a share of Curve’s liquidity.
CRV is the governance and rewards token. CRV is highly prized because it allows holders to vote on the distribution of CRV tokens to liquidity pools, leading famously to the Curve Wars. CRV now trades at $1.38, and the token’s financial influence on the platform makes it a great token to hold.
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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