Uniglo (GLO) Ultra-Burn Feature Sets New Standard, Way More Efficient Than Stellar (XLM) And Shiba Inu (SHIB) Burns
When weighing up new crypto investments, you might want to take a closer look at burn rates. Cryptos that burn more tokens arguably set the future price up for more success, as they decrease supply and increase scarcity. It’s simple economics, if demand continues while supply goes down, prices go up. Many cryptocurrencies apply burns to help do this, and stand up as deflationary measures that outclass traditional currencies.
When fiat currencies scrapped their gold standard pegs many years ago to raise instant funds, they managed to achieve more short-term money, but also meant that new money could be printed whenever necessary. Prior to that, for every dollar in circulation, an equivalent amount of gold had to be stored in reserves to back up the price. This was known as the gold standard, but it was scrapped long ago. This meant that new currency could be printed whenever necessary, raising funds for the reserve but also devaluating the price of currency already in circulation. This can lead to hyperinflation, which many argue is on its way. If you’ve noticed your dollars becoming worth less and less, or paid any attention to economic news, you’ll have seen how much of an issue inflation has become. It needs an answer, and this answer is arguably in crypto. Especially with GLO, which has a huge range of deflationary features as well as the best burn mechanics the space has ever seen.
Uniglo reintroduces that gold standard peg that fiat lost long ago with the GLO vault. This is made up of a range of assets and provides full 1:1 asset-backed store of value, a peg for the price that people can have faith in.
But it’s GLO’s ultra-burn mechanics that really add to these deflationary credentials and help make it the most deflationary coin around. GLO burns tokens on every transaction, but also buys back unsold tokens to burn over time. Both these features make up the GLO dual-burn model, and continue to ensure scarcity over time. They also set GLO up for strong future price gains, and as more people hear about GLO as it comes out of pre-sale, these could be even stronger. So right now you have the chance to grab GLO at a discount during pre-sale and enjoy its ride all the way to the top.
Recently, the Stellar Development Foundation burned 50% of their XLM supply. This was a huge burn that managed to shore up the price and potential for the future of XLM. It’s already one of the most established coins around, and could continue to have a huge future, but it isn’t looking as strong as GLO right now.
SHIB recently introduced new burns, offering users rewards for burning some of their own tokens. This was to help shore up supply after some recent dips, and arguably had a positive impact on the future potential for SHIB. It could still be a good investment thanks to that.
GLO has some of the best burn mechanics the space has ever seen, and should outpace the likes of XLM and SHIB as it forges its way up the altcoin charts.
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