Uniglo (GLO), Shiba Inu (SHIB), And Chainlink (LINK) Are Great DeFi Projects On Ethereum (ETH) Chain To Consider

Uniglo (GLO)

A new member of Ethereum-based protocols is Uniglo (GLO) which addresses everyone’s least favorite part of the cryptocurrency industry: volatility. It is a community-based social currency with enormous development potential.

The first fully asset-backed currency in the world of cryptocurrencies is created by Uniglo using a unique Vault that will purchase and hold physical, digital assets as well as digital gold. The funds from this vault will be used to purchase GLOs on the secondary market and burn them to reduce the supply using their first ultra-burn instrument. Additionally, every GLO transaction will incur a fee of 2% of the GLO being purchased or sold.

This relatively new and effective burning mechanism produces a completely asset-backed currency that is impervious to volatility and resistant to the irrational speculation associated with undiversified cryptocurrencies.

Yet, in an ICO mode, Uniglo is heating up for a grand launch on October 18 on Uniswap. Before the launch, investors can purchase $GLO tokens from the official website and enjoy bonuses or other benefits of early investing.

Shiba Inu (SHIB)

Shiba Inu (SHIB) is a meme-based cryptocurrency that has recently taken the crypto world by storm. The project initially launched on the Ethereum blockchain but has since migrated to the Binance Smart Chain. The SHIB token is the native token of the Shiba Inu ecosystem and is used to power the platform’s various features. Holders of SHIB Tokens can earn staking rewards, participate in governance, and exclusive access content. One of the most appealing aspects of Shiba Inu is its shallow price point. At the time of writing, each SHIB token is priced at just $0.00003. This makes it an accessible project for pretty much anyone.

Chainlink (LINK)

Chainlink, a blockchain abstraction layer that was established in 2017, allows globally interconnected smart contracts. Chainlink, a decentralized network, enables blockchains to interact securely with external data feeds, events, and payment methods while providing the crucial off-chain information required by sophisticated smart contracts that are rapidly becoming the dominant Digital contract type.

A sizable open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others powers the Chainlink Network. The firm is committed to ensuring that all node operators and users who want to contribute to the network are assured of decentralized involvement.

Chainlink is one of the top companies in the data processing industry and has an extensive network of reliable partners.

Wrapping Up

According to the information presented earlier, it is evident that Uniglo (GLO), Shiba Inu (SHIB), and Chainlink (LINK) provide a significant amount of potential for users who are interested in being active in the DeFi arena. The Ethereum blockchain is the foundation for all three of these initiatives, which have each seen rapid expansion over the last several months. Even while there is no assurance that any of these ventures will be successful over the long term, they each have a distinctive value proposition and have the potential to disrupt the conventional financial system.