Cryptocurrencies have come a long way in the past few years, and their market capitalization isn’t the only thing that has something to show for it.
Perhaps one of the most significant achievements across the industry that we have seen is the widespread acceptance of various networks. DeFi’s summer boom in 2020 showed that Ethereum, in its current shape and form, is quite incapable of handling the massive load of users. As a result, fees skyrocketed due to network shutdowns.
In 2021, it led the massive trend where other layer-one protocols skyrocketed in both value and popularity.
This is where the Seesaw Protocol (SSW) comes into the picture.
What is the Seesaw Protocol?
The Seesaw Protocol aspires to be a cryptocurrency designed to bridge multiple blockchains, solving a significant interoperability problem in the emerging field. Its creators claim that SSW is going to bridge Binance Smart Chain (BNB) with Ethereum (ETH) and Polygon (MATIC).
This enables the blockchain to take advantage of the most efficient blockchains during optimal times based on network congestion, and, therefore, find the fastest and cheapest transactions.
The project’s whitepaper reads that:
The Seesaw Protocol is a fully on-chain liquidity protocol that can be implemented on any smart contract-enabled blockchain. The Seesaw protocol is an open source standard for liquidity pools, which in turn provide an endpoint for automated market-building (buying/selling tokens) against a smart contract.
Seesaw tokens can be swapped between multiple chains with around 0% commission. This is extremely beneficial for all our users.
Initially, the token will be launched on PancakeSwap with a 3% purchase fee and a 5% sale fee. Some of these fees will be redistributed to existing SSW holders, providing them with a way to passively earn on their holdings.
Security Audit and Roadmap
According to the official white paper, the project is currently being onboarded for audit by CertiK. However, as of this writing, the audit itself has not been completed, which means that there is no official security assessment of the Seesaw protocol.
In terms of its roadmap, the project has pre-sales planned for the first quarter of 2022 and a subsequent launch at PancakeSwap in the second quarter.
During the second quarter, the team should also launch the Seesaw multi-chain bridge and swap functions and cross-chain deployments for Ethereum and Polygon in the third quarter. This is also when the project is expected to launch on Uniswap.
It’s also important to take a look at SSW’s Tokenomics – the core cryptocurrency of the Seesaw protocol ecosystem. The first phase of its pre-sale ends on February 25, and the potential token sale is 178,200,000. The total supply of SSW is limited at 990,000,000. During the second phase, there will be 89,000,000 SSW tokens to sell, and during the final phase – 29,700,000.
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