Coin Healthcheck: Saitama (SAITAMA)
About Saitama
SAITAMA, also known as SAITAMA INU, is the community-driven token of the SAITAMA project, which aims to fight inefficient financial literacy and educate current and future generations of crypto investors worldwide.
SAITAMA offers to solve the problem of illiteracy by developing a decentralized ecosystem that introduces crypto, teaching users about finances and making wealth creation possible.
The project was launched back in May 2021 with the namesake of the legendary “ghost dog” of the Saitama region of Japan.
State of the Project
SAITAMA is a deflationary ERC-20 token with a 100 quadrillion supply.
It burns 2% of its tokens with each transaction. 49% of the supply has already been burned.
Incentivizes holding by distributing a 2% transaction fee among holders.
Claims to have a special code that prevents big wallet holders from performing price manipulation by dumping. It’s not clear if the feature is already functioning.
The SAITAMA token can be used for trading and swapping.
The Website & Whitepaper:
The website: explains the mission, provides access to the whitepaper, roadmap, contact form and team member’s names.
The whitepaper (version 1.6 as of November) provides a description of the concept, future ecosystem and the SAITAMA token.
No explanation on how Saitama plans to implement the “anti-whale” feature.
The Development stage:
The development stages and achievements mentioned in the whitepaper do not match those published on the website.
Its biggest achievements include the token fair launch, growth of the follower base, listings on small exchanges, proprietary NFTs, and new partnerships.
The whitepaper states that the Saitama Edutainment platform has already kicked off. DailyCoin was unable to find signs of any existing Saitama Edutainment platform.
The Roadmap:
The NFT launchpad platforms SaitaMaker, SaitaMask Wallet, and SaitaMarketplace are in the project’s future plans, together with new listing on exchanges, and presence on TV and radio.
There are no specified details or launch timelines.
Fundraising:
An initial liquidity of 4% is locked on Uniswap DEX until May 2022.
There is no data on how the initial liquidity was generated.
The Team
There are 7 team members, all with clearly stated identities.
Only 1 team member is working on the technology, including the CEO, who is responsible for operations.
CEO Russell Armand says he has an MBA in business management and 4 years of experience in crypto project development.
He has no LinkedIn account to check.
Max Hernandez, responsible for technical development, has been in crypto space for over a decade. He has worked in multiple positions including as a software engineering, data scientist and serial entrepreneurial business owner.
There is no data on venture capital investments.
Community
Social media accounts: Twitter (178.3K), Facebook (95.3K), Telegram (over 49K), Instagram (29.6K), Reddit (27.4).
Regular posts, active communities.
Key Metrics
Token standard: ERC-20
Max supply: 100 quadrillion
Circulating supply: 44.6 quadrillion
Market Cap: $2.8 billion
Exchange listings:
Listed on 13 cryptocurrency exchanges (see the full list).
Comes in trading pairs with USDT, WETH, and SHIB.
Token allocation:
49% of the SAITAMA supply is burned and sent to a dead wallet that is permanently locked and inaccessible.
45% of SAITAMA tokens are in circulation.
There are over 256K wallets on Ethereum chain.
Wallets:
Any ERC-20 compatible wallet.
Price movements:
All-time High (ATH): $0.000000170776 in November 2021.
All-time Low (ATL): $0.000000000026 in July 2021.
At the time of writing, it is up 243,889.6% from its ATL and 62.8% down from its ATH.
Verdict
- Bringing financial and crypto literacy to the world, especially in an entertaining form, looks interesting, but the project lacks enough solid proof to convince us that its long-term intentions are serious. On the other hand, Saitama is a very young crypto project, so time will tell.
- The project declares its values of transparency, team members do not hide their names or faces. However, we could not validate the professional experience of the CEO or the Tech Officer, as they seem to exist without LinkedIn accounts.
- The team is relatively small, with only one person responsible for the project’s technical development. Saitama dedicates more human resources to marketing, content creation and community building. This is an Interesting approach, considering that none of the ecosystem’s planned features are functioning yet. Even the data on the official website and the whitepaper don’t match up.
- Its large and active social media communities, incredible growth within a matter of months, and high number of holders suggest that SAITAMA could be an interesting speculative asset for short-term investors.
Read more: https://dailycoin.com/coin-healthcheck-saitama-saitama/
Text source: DailyCoin.com
