a The new project in decentralized finance (DeFi) is on the rise and could make its way to the top 50 list of cryptocurrencies. We are talking about Uniglo (GLO), one of the latest project additions to the Ethereum blockchain.
This boom says a lot, considering that the Uniglo project has yet to be publicly launched. Much has been said about this innovative project and many comparisons have been made.
One way to look at Uniglow is that it is very similar to Convex with respect to its purpose – maximizing yields while keeping things simple for investors. It is also similar to Kusama due to its focus on innovation.
Uttal and Kusma have been in the red zone when viewed over a period of 30 days. However, both the protocols are now increasing, moving to the green zone during their one week and two week periods. And in a wonderful turn of events, optimism towards projects like Convex and Kusama is adding to the excitement and demand for the Uniglo project. Indeed, in the Phase 2 presale, the price of GLO, the native token of Uniglo, is exploding.
Uniglow (GLO)
To understand why the price of the new project Uniglo is exploding, you need to know about its profit-oriented structure. The Uniglo project will not rely only on speculative development, but will underpin it with asset appreciation from stable, real-world investment products such as gold, fine wines and art.
To achieve this, Uniglo will create a special asset vault to contain a variety of digital assets that will serve as one half of the foundation of its GLO token. The other half of GLO’s foundation includes a unique ultra-burn feature that will ensure the scarcity of GLO tokens in the secondary market. The main reason many investors are attracted to Uniglo is that its structure can hedge against market volatility. Therefore, the demand for GLO tokens on presale is exploding.
Convex (CVX)
Convex is a DeFi yield farming platform that competes with Uniglo in a way. Convex Protocol is built on top of the Curve Finance (CRV) stablecoin exchange, which provides rewards and rewards through staking for Curve liquidity providers and CRV token holders. However, Convax’s simplicity and sole focus on stakes may also limit the platform. In the past month, the price of CVX is down by almost 24%, falling from $7.50 to as low as $4.87. But in the last seven days and 14 days, the prices increased by 8.7% and 9.1% respectively. It is currently trading at $5.62.
Kusma (KSM)
Kusama (KSM) is a proof-of-stake network based on Polkadot, which serves as a testnet for the latter ecosystem. Essentially, Kusama serves as an alert system for issues or threats that could impair the safety and security of the Polkadot ecosystem. It is specifically designed to support fundamental and unexpected innovation and early-stage deployment on Polkadot, making the network unsophisticated and experimental. In the words of the team behind it, “Expect chaos. No promises.” KSM is currently trading at $52, which is a decline of around 14.4% over the past 30 days. But KSM is seeing similar growth as convex over the past seven days and 14 days period.
conclusion
Uniglo is experiencing a price explosion partly due to the revival of competing protocols such as Convex (CVX) and Kusama (KSM). As the price of Uniglo’s GLO is skyrocketing on the pre-sale, now would be an ideal time to buy GLO tokens and see where this new innovative project can take your investment.
for more information:
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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