Uniglo.io is a novel asset-backed social currency that shows promise for cryptocurrency traders. Built on Ethereum to take advantage of its market leadership, the Uniglo.io project is interwoven within the giant’s smart contracts ecosystem alongside Uniswap (UNI) and Aave (AAVE).
Uniglo.io has a multi-asset-backed treasury that protects against unpredictable drops in the price of its native token, GLO. It maintains a Vault that holds a variety of assets, including cryptocurrencies, non-fungible tokens (NFTs), stablecoins, and digitized real-world assets. With a diversified asset holding, Uniglo.io minimizes the risk of incurring losses should any one asset class experience fluctuations in value.
The Uniglo.io project fits seamlessly with cryptocurrency projects and exchanges based on the Ethereum chain. The project is in the fourth phase of its presale. Currently, interested buyers can purchase GLO tokens from the official website. However, once the project launches, GLO becomes available for purchase on Uniswap (UNI), which is a leading decentralized exchange on the Ethereum network. GLO also fits into the Ethereum-locked Aave (AAVE) platform as an additional asset that users can collateralize or lend out to borrowers.
Uniswap is one of the first, largest, and most popular DeFi applications built on the Ethereum blockchain. Its token UNI is one of the largest cryptocurrencies by market capitalization on Coinbase. Uniswap is an automated liquidity provider, making it convenient for users to exchange Ethereum (ERC-20) tokens anytime and anywhere.
Aave is another liquidity protocol locked across seven networks, including Ethereum. It uses a smart contract mechanism, which allows its users to lend and borrow a range of cryptocurrencies without an order book or central facilitator. Lenders secure profits from depositing digital assets into liquidity pools. Borrowers then leverage their tokens to take out loans.
Ethereum, the biggest second-generation blockchain-based protocol, caters to transactions involving cryptocurrency, global payments, and other digital applications. It introduced two revolutionary technologies. First is the concept of smart contracts, which allows users to exchange tokens without needing an intermediary. Second, it elevated blockchain as a digital ecosystem on which developers build their platforms.
The bottom line
Investors and traders who want a token that fits within Uniswap (UNI), Aave (AAVE), and the greater Ethereum (ETH) ecosystem should pay attention to the Uniglo.io project. The GLO token is a source of passive income that offers a chance to have fractionalized asset ownership.
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Join Presale: https://presale.uniglo.io/register
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