Terra Luna Classic and SHIB holders flocking into Uniglo.io ICO after Community Decided to Burn Massive Amount of Supply
The Uniglo community has voted: all remaining tokens leftover from the presale will be burned! The Uniglo team demonstrates to other developers how to listen to your supporters, who know exactly how to generate price pressure. GLO is off to a roaring start and is still in presale. Read on to find out more about why investors are exchanging their LUNC and SHIB for GLO.
Uniglo.io Burn Proposal Passed
Uniglo is community-oriented, describing itself as a social currency. As such, the decision to burn or not to burn was put to those who adopted early, resulting in an overwhelming majority choosing to burn. The community will be tasked with many such decisions along the roadmap of the project, including what assets to place in the GLO Vault. The Vault is multi-asset backed, meaning its assets will include tangible, real-world assets which are known to appreciate steadily and reliably alongside more volatile digital assets like cryptocurrency and NFTs. People may also vote to buy GLO to burn it. An excellent burning strategy is one of Uniglo’s star features: The Ultra Burn mechanic takes 2% from every transaction, meaning the more it is traded and exchanged, the smaller the supply dwindles, making GLO fully deflationary.
Terra Luna Classic
Terra Labs are scrambling to recover from the LUNA fiasco, which saw billions of dollars wiped from portfolios as it exacerbated an already suffering bear market. The team is now focusing on rescuing LUNC, after many investors switched their LUNA for LUNC and supply spiraled out of control to the tune of trillions of tokens. To combat this disaster, a new burn tax of 1.2% has been introduced, which many holders feel is too weak to make a real dent in the exorbitant quantity. Eyeing up Uniglo’s attractive higher burn rate, many investors are simply walking away from Terra altogether and placing their funds in deflationary tokens like GLO instead.
Cult meme-token SHIB is beloved online, but as with any coin lacking in sturdy use-case, the finer details haven’t necessarily been that well thought through. This is certainly the case with SHIB’s pitiful burn rate. Shiba hypes up big burning, but when you work out just how much SHIBA has to burn, the numbers don’t add up to value. The Shiba Burn Calculator recently showed that in order to burn SHIB to $0.05, it would take approximately 25,000 years (based on eradicating 90% of the total supply) at current burn rates. No wonder people are ditching SHIB for Uniglo!
Uniglo is being closely watched as one of the most exciting projects to reach the market this year, and its sale trends are bucking some of the worst trading conditions on record. This fresh news of the burn event will certainly massage prices even further. The presale ends soon, and it is looking increasingly likely that the token allocation threshold will be met soon. Get involved now to avoid disappointment.
Join Presale: https://presale.uniglo.io/register
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