Uniglo.io recently announced it had accomplished the first portion of its Know Your Customer (KYC) security measures. KYC services are intended to embed security and reliability across the crypto space. Uniglo.io recently completed one crucial verification step, which demonstrates its commitment to applying industry standards similarly implemented by mainstay cryptos such as Alchemix (ALCX) and Shiba Inu (SHIB).
Uniglo.io is a new DeFi project that offers a solution to the volatility problem arising from focusing too much on the intrinsic value of a cryptocurrency. This new project will implement a hyper-deflationary approach to token burning while simultaneously backing its GLO token with a highly diversified asset mix.
As of July 21 of this year, the owner of the Uniglo.io website has already been KYC verified. The verification was accomplished by Coinsult, which is a popular auditor of smart contracts. To date, Coinsult has already completed audits for over 360 blockchain startups and corporations. With its recently completed KYC verification, Uniglo.io is clearly benefiting, as the price of its GLO token is surging.
Alchemix is the DeFi project that offers self-paying loans to safeguard tokens from liquidation. It implements a same-asset loan approach where depositors can leverage their collateral by borrowing a synthetic version of it. The project is growing and is now on its second version.
The Alchemix network has a multi-faceted approach to security. It was audited by Runtime Verification, which continues to update the protocol and ensure security. Alchemix also runs a bug bounty program through ImmuneFI, which is the leading bug bounty and security services platform for DeFi.
Shiba Inu (SHIB)
Network security is a big priority for Shiba Inu as well, especially as it becomes ubiquitous and increasingly lucrative for investors. The Shiba Inu network has been audited by Certik, with the last audit performed in August 2021. Certik applies its Skynet intelligence engine to monitor and assess Shiba Inu, which then produces a security score. Currently, the network has an Excellent Trust Score (93 out of 100).
Uniglo.io has yet to complete its KYC certification. Its recent verification has nonetheless been an important milestone toward ensuring security and reliability in the network. With whales and other investors moving in on the GLO token after the KYC verification, Uniglo.io is on its way to a lucrative and secure launch this October 18.
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