On-chain analysts are a special breed of cryptocurrency market watchers who study investment decision factors such as transaction data and crypto wallet amounts. For example, they look at on-chain transactions to determine market sentiment and ensure that a certain cryptocurrency is actively traded or held by wallets with large holdings.

Uniglo (GLO),a new decentralized finance (DeFi) project built on Ethereum, recently passed the security audit for its smart contracts. The audit was conducted by Paladin Blockchain Security. And after checking Uniglo’s quality test contract, some on-chain analysts are seeing strong positive sentiment from members of other cryptocurrency communities such as Polygon. This is a further indication of the high level of confidence in the revenue and growth potential of the new project.

What is Uniglo (GLO)?
Uniglo is a new community-based social currency. It is designed to be backed by digital currencies, digitized gold, non-fungible rare tokens, and other real-world digitized assets. The goal of community asset selection is to develop and maintain a diversified investment portfolio that can help hedge against market volatility and maximize opportunities for wealth accumulation. As mentioned earlier, Uniglo is built on Ethereum, which means it is entering the Ethereum network just as the latter is about migrating to a Proof of Stake consensus that will make it more environmentally friendly and efficient.

Ethereum (ETH) Testnet
Before a new project is fully launched on the Ethereum blockchain, it is ideal to test first. The test is a deployment of a version of the project to an Ethereum test network, or “testnet”, to simulate the performance of the project on the real blockchain. The test does not involve real assets, which means that the new project would lose nothing in the process of identifying defects and bugs. Three commonly used testnets are Ropsten, Kovan, and Rinkeby.

Polygon Community (MATIC)
As Uniglo completes its quality test with flying colors, it is now bringing Polygon to the community’s attention. Created in 2017, Polygon is an interoperability scalability solution for Ethereum. The Polygon community has been busy lately, implementing the Miden VM update and building an improved network infrastructure to include additional features. Currently, Polygon’s infrastructure is capable of running any program a user may request.

In a recent blog update, Polygon wrote about what to expect from the upcoming Merge event. He said any Ethereum upgrades only serve to amplify Polygon’s capabilities. After The Merge, Polygon expects to increase the utility of its platform. In the same vein, Uniglo should contribute to the major Ethereum upgrade and at the same time benefit from it. The Polygon community only wants to maximize the benefits that can be gained from it.

final thought
The quality test contract for Uniglo on Ethereum simply gives investors more reason to be excited about the Uniglo project, which is currently still in phase 2 presale.

Learn more here:
Join the presale: https://presale.uniglo.io/register