Uniglo (GLO), Which Is Built On Ethereum (ETH) Network, Could Compete With Fantom’s (FTM) Top DeFi Projects

By Lindsey Benson
2 years ago
In cryptocurrency

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Uniglo (GLO) is a unique project in the decentralized finance (DeFi) space that is built on the Ethereum (ETH) network that can potentially become a top competitor to Fantom’s (FTM) DeFi projects. Uniglo’s primary aim is to provide users with unique, trustless financial services, and the team behind Uniglo believes that the project has the potential to disrupt the current DeFi landscape. The native token of Uniglo, GLO, is an ERC20 token used to power the ecosystem and can be used for governance, staking, and other participation rewards.

Why Is Uniglo (GLO) Unique?

While many DeFi projects are working hard to solve the industry’s issues like volatility and liquidity, Uniglo has taken a different approach. One of the key features of Uniglo is that it uses a hybrid burning model to offer both traditional and ultra burn systems. With these burning methods, Uniglo creates a stable atmosphere for investors and GLO tokens to help it remain resistant during bearish trends.

Additionally, GLO creates its vault by taxing GLO-related transactions. The platform’s dual-burn mechanism uses some of the sales tax for marketing and holds back some of it to produce amazing deflationary tokenomics. The GLO vault contains various assets, such as NFTs, collectibles, and other digital projects. But more significantly, the vault also contains digital representations of physical valuables like gold and works of art. GLO holders now have the opportunity to invest in assets that would previously have been reserved for the very wealthy.

It’s worth mentioning that Uniglo is near the end of the 1st presale, which will end on the 15th of August, and all the remaining unsold GLO tokens will be burned.

Fantom (FTM)

Ethereum was the first cryptocurrency to give users access to smart contracts. However, it has been plagued by congestion and high transaction fees ever since that time. Because of this, a number of different solutions have emerged, each of which offers transaction processing that is both quicker and more cost-effective. The Fantom network intends to build an ecosystem that is capable of functioning without external support and can complete transactions at very little or no cost. This is made possible by their blockchain system, which uses a directed acyclic graph (DAG).

Fantom (FTM) gave tons of DeFi projects exciting backgrounds and space to develop. However, Fantom is still in its early stages to give DeFi projects as much flexibility and accessibility as, for instance, Ethereum Network.

Ethereum is the originator of the concept of smart contracts and can host multiple different cryptocurrencies via its ERC-20 standard. Additionally, the latest update to Ethereum, London hard Fork, was deployed to minimize the high transaction costs and improve its scalability. In light of this, it is projected that Ethereum Network will continue to evolve and gain popularity among new DeFi protocols, giving Uniglo greater potential than Fantom for its DeFi initiatives.

Bottom Line

Overall, Uniglo.io has the potential to become a key player in the DeFi space. With its Ethereum-based infrastructure and competitive features, Uniglo could soon challenge Fantom’s top DeFi projects. Thus, for users looking for an alternative to Fantom, Uniglo.io could be a great option.