Uniglo.io Plans To Tackle Reserve Currency Crypto Market Alongside Paxos Gold And Compound

Throughout history, humans have searched for a place to store their wealth safely. The proliferation of gold acts as a testament to this statement. Despite being a simple idea, capturing power and storing it for extended periods has proved incredibly difficult.

A new DeFi protocol leads the charge with a solution that combines time-tested economic principles, value-backing, and scarcity with digital assets. Uniglo.io makes serious progress and plans to upset the balance, already taking market share from established reserve currency protocols Paxos Gold and Compound.

Uniglo.io

The United States dollar abandoned the gold standard in 1971 under President Nixon, and the dollar’s purchasing power went into freefall. Five decades later, Uniglo reintroduced the notion of value-backing to create a secure currency that preserves and grows investors’ wealth. Uniglo features buy and sell taxes, and Uniglo employs this revenue stream to acquire assets and burn the native GLO token.

The vault, a multi-sig protected wallet, houses large-cap cryptos like BTC & ETH to benefit from long-term price appreciation, smaller-cap cryptos for growth speculation, NFT assets, and stablecoins. The NFTs represent tokenized physical items such as real estate and fine art. Both of which have come from excellent stores of value. By creating a value-backed token, Uniglo has delivered a viable store of value over extended periods to the crypto market, something the market desperately needs.

Paxos Gold

Paxos Gold introduced portability and divisibility to gold ownership. Physical gold backs PAXG, the native token, with each token secured by one ounce of gold stored in a physical vault. In allowing fractional ownership of gold, Paxos opened up the market and allowed more investors access to gold, which has been notoriously difficult to obtain for less capitalized investors.

However, PAXG possesses a hard cap, its price can never exceed the value of one ounce of gold, and gold as an asset has been underperforming for decades.

Compound

Compound is a trustless DeFi lending protocol. It allows investors to supply idle assets and generate interest. Compound also allows investors to take loans out against collateralized assets. COMP, the governance token, enables users to vote on the protocol’s parameters. As the protocol is trustless, ownership of COMP is the only way to implement changes to the protocol.

Closing Thoughts

Paxos Gold represents a solid project but fundamentally remains limited by gold’s performance. Compound is DeFi 1.0, it allows trustless loans, but the COMP token has no profit-sharing mechanism. Uniglo’s native asset, GLO, not only represents a better store of value but also allows investors to take part in the protocol’s success; as the vault’s valuation grows, so will the floor price of GLO, making it an excellent value accrual token.

Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io

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