The Seesaw Protocol price has plummeted as momentum surrounding the network fades in the past few days. The SSW price has dropped sharply to about $0.4060, close to its lowest level on record. This article will explain what Seesaw is and whether it is a good strategy to invest in it for the long term.
Seesaw Protocol is a blockchain project in the decentralized finance space. It is a multi-chain platform that will help people swap tokens, farm, and even use leverage to trade multiple tokens easily. It is being built using the BNB Chain, which Binance owns. Its governance token is SSW, whose supply limit has been capped at about 990 million tokens.
The first pre-sale period for the Seesaw token ended in February, while the second phase ended on March 25. The final pre-sale phase ended on April 8 as the developers raised $29 million. However, unlike most cryptocurrencies, it is currently impossible to buy the SSW cryptocurrency in mainstream exchanges like Binance, Coinbase, and Huobi. Instead, you can only buy it in PancakeSwap or its internal platform.
So, is the SSW price cheap enough to buy? Unfortunately, it is too early to determine whether the Seesaw Protocol will be a good investment in the long term. For one, the DEX industry is now being crowded, with mainstream projects like Uniswap and Anchor Protocol competing heavily with projects like VVS Finance and MM Finance, among others.
Another risk is that there is a high probability that the platform will not be successful, considering that the mainnet has not gone live. As part of the roadmap, the developers intend to launch the SeeSaw multi-chain bridge and swap in the year’s second quarter. They will then launch a cross-chain deployment on Ethereum and Polygon in Q3 and launch in Uniswap in Q4. Therefore, SeeSaw Protocol is a highly-risky DEX to invest in for now.
This post was last modified on Apr 12, 2022, 07:50 BST 07:50