Audit Passed: Uniglo (GLO) Is Given A Go By Investors, Slowly Taking Market Shares Of Curve (CRV) And Uniswap (UNI)

DeFi investors understand the importance of smart contract audits and KYC procedures. A protocol that undergoes both of these measures proves to its investor base that it is not only legitimate but has a long-term vision and truly wants to change the DeFi space.

A new addition to the Ethereum ecosystem, Uniglo (GLO), has just had its smart contracts audited by Paladin Blockchain Security. Paladin is a household name and one of the best auditors in the space; the company focuses specifically on DeFi projects that are EVM (Ethereum Virtual Machine) compatible.

Early investors in Uniglo have rallied behind this news, and rightly so; a positive smart contract audit from Paladin is incredibly bullish. And this news has permeated throughout DeFi, with Uniglo beginning to eat into the market share of Curve (CRV) and Uniswap (UNI).

Uniglo (GLO)

Uniglo is a community-owned currency that returns to the basics of economics. Introducing value-backing to DeFi, GLO uses buy and sell taxes to fund two of the protocol central mechanisms. First is asset purchasing for the Uniglo Vault, which houses digital, NFT, and physical assets. These assets give GLO natural value, supporting its floor price, and allow the token to appreciate as the valuation of the Vault increases.

The second is the Ultra Burn Mechanism. With GLO being the first hyper-deflationary token within DeFi. With 2% of each transaction being burnt, the total supply will rapidly decrease, and this new token will become scarce. Scarcity means rarity, and rarity always drives the price upward.

Curve (CRV)

Curve Finance is one of the liquidity giants of DeFi. Starting as a decentralised exchange for stablecoins allowing investors to swap between various stable assets with minimum slippage, it has slowly become the best place for investors to earn with stablecoins.

Curve has devoured liquidity in the previous months, with more investors moving into stablecoin to hedge against market volatility. CRV is the governance token of the platform and can be staked to entitle investors to governance rights, including the ability to decide on CRV reward allocation. CRV is highly sought after for this reason.

Uniswap (UNI)

Uniswap remains a central core of DeFi. Introducing the AMM (Automated Market Maker) model, which has since become the industry standard amongst decentralised exchanges, Uniswap provided a better user experience for traders while allowing investors to generate passive income by providing liquidity.

UNI is the governance token and is distributed to liquidity providers in exchange for bolstering the platform's liquidity depth allowing for greater swap efficiency. UNI remains one of the most profitable airdrops of all time and is highly undervalued at its current price point.

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