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Sensational Uniglo.io Price Action Causes Panic In Tron And Cronos Groups From Fear Of Missing Out

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No one can understand the meaning of FOMO better than those in the crypto space. The fear of missing out is a powerful force that can cause massive volatility in the market. Speaking of which, there’s a new crypto in the town causing panic in Tron and Cronos camps with sensational price action.

Despite turbulent market conditions, Uniglo has been outperforming some major cryptocurrencies even before the launch. Several media outlets have reported about its presale demand that has led to a quickfire 55% increase in its value.

But what’s moving the needle for Uniglo?

Given how the events unfolded in 2022, the crypto market was badly in need of a stable asset class that could absorb extreme volatility. Uniglo grew out of this concern and developed a social currency asset-backed by rare NFTs, digitized gold, and digital currencies. The main objective here is to protect the price floor from fluctuations and bearish conditions.

The Uniglo treasury will derive value from the community, where every GLO holder will have the right to participate in crucial decision-making. From asset acquisition to token burns and future developments to treasury allocation, everything will be put up for the proposal.

How does the treasury work?

Just like other reflection tokens, Uniglo has implemented taxes on each transaction. Every GLO trade will come with a 10% tax, half of which will be added to the treasury, and the rest will contribute to liquidity and marketing. Treasury funds will be allocated toward the purchase of tangible and intangible assets that provide inherent value to the token.

The protocol will also implement a unique token burn mechanism’ where 2% of each GLO trade will be permanently taken out of circulation. This will consistently reduce the overall token supply and increase the demand along with the prices. Besides, Uniglo will also reinvest its profits to keep purchasing assets for the vault and scheduling token burns.

A massive presale demand speaks volumes about the popularity of this token, and it is expected to continue ahead and beyond the smart contract launch. A security audit by Paladin has further taken investors in confidence, and the future roadmap looks bright.

Find Out More Here:

Join Presale: https://presale.uniglo.io/register

Website: https://uniglo.io

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