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Uniglo (GLO) Invests In Top Tier Audit, Moving Ahead To Become Bigger Than Lido DAO (LDO) And Maker (MKR)

1y ago





In a rapidly changing world, it's more important than ever for companies to have a robust and reliable audit system. Uniglo, a leading DAO project, has made the smart move of investing its time and resources in a top-tier audit. This might help them become more extensive than Lido DAO and Maker, two of the large and well-respected companies in the space.

Uniglo has chosen Paladin as its auditor firm specializing in financial audits of crypto projects. The audit covers all aspects of GLO's project, including the code, architecture, and financing, which will help improve its financial transparency and accountability.

Idea Of Uniglo (GLO)

Digital currency, precious NFTs, digital gold, and other tangible goods that have been transformed into digital form serve as the foundation for Uniglo. This means that the GLO token has the ability for fast development and the resilience to withstand the risks of price volatility and market swings.

As a DAO community that gives investors and members a say in protocol choices, Uniglo sets new standards. Uniglo community will select $GLO tokens to repurchase, burn, and which assets to retain in the GLO vault or sell.

The project’s tokenomics heavily benefit presale investors with referral programs and bonuses. Additionally, the platform's ease of use may encourage widespread adoption in the following months and years.

"We are excited to have our project audited by Crypto Veterans," said GLO co-founder and CEO. "This is an important step in our mission to build trust with our investors and the general public."

The audit comes when there is increasing scrutiny of cryptocurrency projects. The US Securities and Exchange Commission (SEC) recently reported that many token offerings might violate securities laws.

"The SEC's report highlights the need for greater transparency and accountability in cryptocurrency," said the Uniglo CEO. "We believe our decentralized crypto project audit will help address these concerns."

Will Uniglo Move Ahead Lido DAO (LDO) And Maker (MKR)

Lido is a crypto-staking liquidity platform that enables users to stake their crypto assets to generate passive income. Lido was created with the Ethereum Beacon chain in 2020 with the intention of addressing issues with non-custodial staking services. 

In terms of security, three security organizations have conducted platform assessments for the project. Additionally, Lido DAO has an insurance fund for hacking incidents. However, the total review for Lido DAO security is 84%, which leaves room for unanticipated vulnerabilities or leaks. 

Maker (MKR) is one of the first Ethereum-based DAOs. MKR crypto is the governance token used by MakerDAO to administer Dai, the stablecoin of the network. 

This two-token arrangement and the establishment of the Dai stablecoin tied to the U.S. dollar were formed by Maker as part of a bigger effort to solve the issue of volatility in crypto lending and borrowing. 

Speaking of security, Callisto network completed an assessment of Maker smart contracts in 2019. Despite the audit report's assertion that there were no major risks or weaknesses connected with the project, Maker DAO was nonetheless compromised by hackers. 

DAO Maker was hacked on September 3, 2021, resulting in a loss of more than $4 million. In only one hour, the repercussions of the breach led the price of the DAO Maker token to fall from $2.51 to $2.20. The occurrence has greatly undermined investor confidence, since they can no longer predict the future. 

Overall, In the era where even leading projects like Lido Dao or Maker can get attacked, obtaining audit from a leading blockchain security company Paladin puts Uniglo on the right development path.

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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

1y ago




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