What is SeeSaw Protocol (SSW): Anonymous project lacks key details

The supposed cross-chain protocol should disclose further proof of concept for investors

Black and white image of three chain links connected together                                 
The importance of multi-chain compatibility is more realised than ever – Photo: Shutterstock
                                

Contents

Still in its development phase, SeeSaw Protocol bills itself as a fully decentralised, multi-chain DeFi (decentralised finance) platform. But what is SeeSaw Protocol (SSW) implementing to achieve this? 

After scrutiny of the scant information made available, Currency.com has been unable to determine how the anonymous development team plans to deliver a working protocol.

SSW coin: Key details

Update: SSW launched on PancakeSwap on 13 April 2022. On 24 April, the token fell from $0.30 to $0.001, shedding 99% of its value. SSW has not since recovered its price. As of 16 June 16:00 BST (UTC +1), SSW was valued at $0.00085.

Without any substantial details, we cannot answer the questions “What is SeeSaw Protocol coin used for?” and “How does SeeSaw Protocol work?” Presumably, SSW coin will be used to facilitate swaps across different blockchains and possible governance options.

The following queries were sent to the official Telegram page of SeeSaw Protocol (SSW):

  • How much have you made from your pre-sale so far?

  • How will your multi-chain bridge work?

  • May we have a copy of the whitepaper and any other documents to analyse the protocols?

  • Who is in the team and what are your backgrounds?

  • Where are you based?

Update: Following the publication of this article, representatives reached out to organise a face-to-face Zoom call, in which three individuals joined Currency.com to go over these questions. While names were not provided, the team said they were based in Switzerland.

Currency asked if investors have a right to know a bit more about their background to bring some legitimacy to the project. One representative responded: “I 100% agree, but what we’re trying to do is initially not trying to have the priority on the team. What we’re trying to do is promote the project as a whole. It is a community project. We want to make sure it’s running, it’s functional and it’s out there… Then later on, in a year, we’ll start showing who we are, what we’re doing, our backgrounds on it, and what we’re trying to showcase behind it.”

Since SeeSaw was accepting pre-sale money without a whitepaper or other documents, Currency.com asked what they had to say to investors asking for some proof of concept. “We have now made our whitepaper available, and it will be out today,” replied one of the representatives. “Today we will be releasing it to the community. It took a lot more time because of legality. We’ve sent it to our lawyers to make sure it’s all been… [unclear] but today it will be released to the community. When it’s done I can also email it to you personally.” 

SeeSaw also mentioned that a CertiK audit is pending. It was also stated that $1m of liquidity is committed to the coin. It should be noted that this cannot be independently quantified at this time.

Why is SeeSaw Protocol trending?

Through an analysis of “SeeSaw Protocol” Google search results, we can potentially observe a manipulation of the algorithm. A slew of press releases have been sent out by SeeSaw Protocol (SSW), with titles also featuring the names of popular projects, including Axie Infinity, The Sandbox, Ripple and others.

Screenshot of SeeSaw Protocol press release
Screenshot of SeeSaw Protocol press release
Screenshot of SeeSaw Protocol press release
SeeSaw Protocol press releases combine established names – Credits: coinspear.com; crypto news.com; beincrypto.com

It is possible that the developers of SeeSaw Protocol are using established names in the crypto space to push the project further up the results pages. When putting this question to Seesaw, a representative replied: “Do you feel like we’ve done anything wrong?” 

While not necessarily wrong, the tactic can be misleading, with SeeSaw potentially riding on the coattails of these better-known projects.

In response, SeeSaw said: “One, it’s not illegal. Two, you want to associate yourself with the greats in order to become great, right? We’re not going to sit there and put ourselves next to others… The most important thing is we’re doing great work. Once we’re doing great work, we’re able to put ourselves against these beautifully named products.”

Input from an investor

A reader claiming to be an early-stage investor, who wanted to remain anonymous, shared the below email with Currency.com from an individual called Lawrence Harte, whose identity could not be confirmed. SeeSaw was asked whether this had originally come from their team. After deliberating, SeeSaw confirmed that the email was legitimate.

So, is Lawrence Harte a member of the SeeSaw team? “Correct, indeed, however, he is a part of our team, but because we don’t release that information in regards to SeeSaw protocol and our team, we don’t have any LinkedIn information on there.”

Screenshot of email from an investor
Others on social media have also noted receipt of this email

According to SeeSaw, Mr Harte is part of the marketing team, which is “calling out to pre-sale customers and speaking about the project, and getting to know the project and enhancing the experience with the actual crypto itself… what we’ve come to find is that community engagement (is key to) a crypto for growing.”

The investor, who was banned from the Telegram group, also mentioned being contacted over the phone, possibly to offer discounts on additional pre-sale purchases.

Is SeeSaw Protocol legit?

Update: Following the interview with Currency.com, SeeSaw posted a link to a whitepaper. Investors are advised to scrutinise the details and information provided.

One excerpt states: “There is no guarantee that the utility of the SeeSaw tokens or the project described in this whitepaper will be delivered. You are waiving your rights by agreeing to these terms and conditions and participating in the SeeSaw Protocol.”

Screenshot of one page of SeeSaw's whitepaper
An example of the information contained in the SeeSaw whitepaper. Photo: docs.seesawprotocol.io

The roadmap (below) outlines the main goals of the project, but questions remain about how this will be done.

Screenshot of SeeSaw Protocol's undetailed roadmap
SeeSaw Protocol's roadmap lacks detail – Photo: seesaw protocol.io

The registrar information for the seesawprotocol.io web address is not disclosed and no contact information is provided. Twitter activity consists of five tweets, all posted since 17 January.

Judging by recent discussions on Telegram, users encountered issues with conducting pre-sale transactions, a fact confirmed by one of Seedaw Protocol’s only tweets.

According to the official website, 30% of the SeeSaw cryptocurrency was reserved for the pre-sale, 10% for marketing, 5% as a bridge reserve and 4% for the developer’s wallet. The website states that SSW has now officially been launched.

Currency.com will update this article with any further developments.

FAQs

The team behind SeeSaw Protocol has remained anonymous. Currency.com has requested further information via the project’s official Telegram page.

Update: Currency.com has since conducted an interview with three members of the team. While their names were not disclosed, they said they are based in Switzerland.

SeeSaw Protocol was accepting pre-sale money, despite offering no proof of concept or whitepaper. Since the original publication of this article, the team has unveiled a whitepaper, which investors should thoroughly scrutinise.

Social media comments contain a large degree of negative sentiment. No contact information is provided, however, representatives did reach out to Currency.com and agreed to be interviewed. As with any new crypto project, Currency.com recommends caution.

SSW has a maximum supply of 990,000,000. Circulating figures are unavailable. It is available via Pancake Swap, albeit with a ‘health’ warning.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image