The Seesaw Protocol Explained
The Seesaw protocol is a decentralized, multi-chain, noncustodial ecosystem of Defi products, protocols, and services.
Launched in January 2022, the protocol is a fairly new and ambitious blockchain-based project created to bridge multiple blockchains. It is capable of running in all smart-enabled blockchains. It currently runs on the BNB Chain with plans to also run on the Ethereum and Polygon blockchains.
The Seesaw token
The Seesaw token (SSW) is the utility token of the Seesaw protocol ecosystem. Holders of the tokens can use them to connect between the three blockchains to find the quickest and most reliable network at any given time.
SSW can be traded and farmed across the Binance Chain, Ethereum, and Polygon blockchains. The tokens have a max supply of 990,000,000 SSW coins.
Among the many reasons to get this digital currency is the reward incentive of simply holding them. A regular airdrop feature enables long-term holders of the token to earn extra coins.
As of writing, each coin is currently trading at $0.000964. According to Coinmarketcap rankings, they are the 7,943rd largest cryptocurrencies by market cap.
SSW price movement
On April 8th 2022, SSW launched on Pancake Swap after being locked in presale for three months. Their price at the start of the presale was $0.005. On April 14th, the tokens experienced their all-time high price, trading at $0.46.
The tokens would, however, start to experience a price decline going forward. According to many expert investors, it was to be expected as the entire cryptocurrency space was experiencing a bear market. By the end of May, each SSW coin was worth $0.004495.
The tokens ended June trading at $0.001172 and July worth $0.0009315 each. Things are still not looking up for SSW as it continues with its downward trend.
Is the Seesaw protocol a good investment?
Some crypto investors have pointed out a few concerns about the protocol. While it does offer a much needed solution in the crypto world its huge token price crash is of concern.
Huge crashes are, however, common in the crypto space. Shiba Inu (SHIB) is a good example of a cryptocurrency that has experienced several huge crashes and is still going on strong.
The fact that the project is backed by an anonymous team is also concerning to some people. But, so are many other crypto projects. Bitcoin continues to dominate the crypto market, yet its creator, Satoshi Nakamoto’s true identity, is yet to be known to date.
To be fair, SSW is new, and we can only expect so much as the project behind this cryptocurrency continues to develop.
As for now, how the tokens will behave in the future, only time will tell. On the bright side, their current market price makes them an ideal entry point into the crypto market. Just remember to do your research before investing in any crypto project.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.