Fantom (FTM) possesses one of the most dynamic and vibrant DeFi (decentralised finance) ecosystems within the entire crypto space. The developers of Fantom launched their incentive programme, which directly rewarded developers who built DApps (decentralised applications) on the network that met certain liquidity thresholds. The net result was a mass migration of developers, and several of the most talented developers within crypto build solely on the network. Fantom has become a DeFi paradise, and the whales active on the chain have better instincts than most due to the rapidly evolving landscape they live in. The on-chain analysis shows that many of these whales are targeting the new Ethereum-based social currency Uniglo (GLO), with several stating that the protocol’s mechanics have the potential to create another batch of crypto millionaires.
Uniglo is a new token that leverages blockchain’s programmability to introduce a new form of social currency backed by tangible assets. The importance of owning assets has been highlighted with growing inflation, and ordinary people have no choice but to become investors. Cash left in the bank erodes in value each year, and asset ownership is the best store of wealth. Owning assets allows investors to benefit from long-term price appreciation whilst preserving their wealth.
Uniglo’s Vault will hold digital, NFT, and real-world assets. The vault will accumulate assets to provide a stable floor price for the GLO token and be actively managed. Holdings in the vault which have risen in value will be sold and either used to purchase more assets or for Buy Back and Burn of GLO tokens reducing the supply on the open market and naturally driving up the price. Uniglo represents a new solution for investors who want greater exposure to tangible assets, and the protocol’s vault is the perfect blend of wealth preservation and growth speculation.
The Fantom blockchain launched in 2019. The Opera Network delivered such stellar performance that this layer one protocol quickly battled through the ranks and became known as an ‘Ethereum Killer.’ Fantom employs a DAG (directed acyclic graph) instead of a blockchain allowing for the simultaneous validation of transactions. The result for users is speedy transaction finality with transaction fees at fractions of a cent. DeFi enthusiasts quickly gravitated toward the chain, and it began to absorb TVL (Total Value Locked) from the other big chains within DeFi.
FTM trades at $0.33, and its current price is a brilliant entry point for new and old investors alike.
Fantom whales know a successful project when they see one. Early investors who went on to become whales recognised Fantom’s potential in early 2021 when it still traded at $0.01, and at FTM’s peak of $3.40, several investors made a 340X return. Uniglo’s value proposition has excited these whales. A return to an asset-backed currency in the modern era of inflationary printing has the potential to create another slew of crypto millionaires.
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