Uniglo Becomes Third Safest Project After Paladin’s Audit

On Sep 9, 2022

Security is always a paramount concern for users of decentralized finance, and with good reason. A DeFi project has no centralized entity like a traditional exchange to hold user information or funds. This means that a hacker could theoretically steal all of the user’s assets if they were to gain access to a user’s account. This is why audits from third-party security firms like Paladin are so important. They help to ensure that users’ funds and information are safe and secure.

The addition of Uniglo (GLO) to the top projects is a testament to the high quality of the project’s security. With Paladin’s endorsement, users can rest assured that their funds and information are in good hands. Uniglo’s audit update has made the project advance its positions next to Uniswap (UNI) and Apecoin (APE). What makes these three rank as the safest projects?

Uniglo (GLO) Specifics

Uniglo is a new DAO protocol with a few unique initiatives that offers a novel solution to the issue of power and control concentration in the crypto sector. To sustain its native currency, $GLO, the project will invest in assets such as digital currencies, rare non-fungible tokens (NFTs), and real collectibles like as rare whiskies and high-end watches and put them in the community vault.

In addition, the project includes the Ultra-Burn Mechanism, which is an addition to the standard token burn process that occurs throughout each buy and sell transaction on the Uniglo ecosystem. The Ultra-Burn Mechanism refers to the practice of acquiring GLO tokens on the secondary market before destroying them. This helps to decrease the amount of $GLO tokens in circulation and increase their value.

How Safe Is Uniglo Protocol?

Despite having superior products and services, security is what allows Uniglo to compete with significant crypto projects. Paladin, a top blockchain security company, conducted an audit of Uniglo.

Paladin has executed comprehensive evaluations of Uniglo’s primary and vesting contracts and codings and has emphasized the team’s professional approach to the project. In addition, the team has previously passed the Coinsult KYC verification test.

Besides the KYC-verified workforce and audited smart and vesting contracts, several other aspects contribute to Uniglo’s exceptional security. Uniglo implements a security paradigm known as multi-sig treasury, which requires the collecting of votes from a variety of community members prior to any operation. This will make it more difficult for hackers to acquire access to money.

In addition, Uniglo has created a stringent KYC/AML policy to ensure that all users have undertaken the necessary levels of due diligence. This reduces the likelihood of dishonest individuals using the website to launder money.

Security With Uniswap (UNI) And Apecoin (APE)

With the UNI governance token, Uniswap is among the most secure DEX systems. The fact that Uniswap is based on the Ethereum blockchain, an extremely secure decentralized platform, already makes it safe enough to trust.

In addition, the Uniswap smart contracts have been evaluated by several prominent security companies. This indicates that any possible vulnerabilities have been identified and addressed before the platform’s introduction.

Furthermore, Uniswap connects with various popular wallets, such as MetaMask, Gnosis Safe, and Ledger Nano S. This enables consumers to keep their crypto safely without fear of losing it to hackers.

Apecoin (APE) is an Ethereum-based currency administered by ApeCoin DAO, a decentralized autonomous organization (DAO) responsible for making decisions about ecosystem money allocations, governance rules, projects, collaborations, and more. Apecoin has also completed many audits and has been confirmed to be among the most secure investments.

Being compared to market-leading Uniswap (UNI) and Apecoin (APE) gives Uniglo a tremendous confidence boost and expands trust among investors.