Is Seesaw Protocol’s Anonymity Suspicious or Becoming More Common Like Olympus DAO?

Is Seesaw Protocol’s Anonymity Suspicious or Becoming More Common Like Olympus DAO?

Cryptocurrency like Seesaw Protocol (SSW) shares that similarity of anonymity with both Bitcoin and Olympus DAO.

To some, anonymity in a cryptocurrency like Seesaw Protocol (SSW) is looked down upon as investors look for full verification of a project that they're putting their money into.

There are, however, cryptocurrencies that are legitimately respected in the industry that do not disclose the founder or developer team.

Bitcoin, for example, is founded by Satoshi Nakamoto, a pseudonym of the person who drew up the original Bitcoin white paper.

The identity of the Bitcoin creator has never been revealed or verified and despite the lack of authentication, Bitcoin comfortably reigns as the biggest cryptocurrency in the world.

A DeFi project like Olympus DAO houses an anonymous founder who goes by 'Zeus' and they are attempting to become a stable crypto-native currency.

There are various valid reasons as to why a crypto project will choose to remain anonymous with one reason being safety.

Concerns on whether developers of a project could be targeted by investors is a possibility as some crypto communities have been accused of being too tribal and calling for the communities to become more neighborly has been a regular opinion.

Like Bitcoin's Satoshi, pseudonyms enable developers to work without fear of being excluded from what is a male-dominated industry and grants developers a sense of freedom in their work.

One downside of anonymity is the question of accountability and how accessible somebody can be to answer for issues with the project if their identity is anonymous.

Seesaw Protocol addressed this issue in their white paper as they state that while anonymity is a rule of the team, there's not a "lack of accountability as far as practically enforceable".

Seesaw Protocol (SSW) shares that similarity of anonymity with both Bitcoin and Olympus DAO that the team behind the project has decided to maintain anonymity.

Despite its anonymity, Seesaw Protocol has become one of the hottest tokens in 2022 after launching stage 1 of its pre-sale on January 28, a launch that has resulted in the 1200% surge of the token with three days left of the first stage of the pre-sale.

The project has made sure to prove its legitimacy as a project whilst maintaining anonymity through its current onboarding for audit by CertiK, a leading pioneer in blockchain security that secures and monitors blockchain protocols and DeFi projects.

Its white paper had also been released on February 8 as the project laid out its roadmap for 2022 which includes its impending launch on PancakeSwap and Uniswap later this year.

Seesaw Protocol is attempting to bridge the Binance Smart Chain (BNB) blockchain with Ethereum (ETH) and Polygon (MATIC) in what would solve an incredibly crucial inter-operability issue in cryptocurrency.

With two more stages of the pre-sale to go, expectations are high for Seesaw with some suggesting that an increase of 6000% is possible before the April 2022 launch.

While full visibility of a digital asset project is the norm, anonymity doesn't always suggest suspicion and sometimes suggests success, just look at the rise of Bored Ape Yacht Club and its potential $5 billion valuations.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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