ValteWed, Dec 22, 2021 5:07 PM
DeFying Gravity: Saitama — Financial Education in Crypto
We continue with the DeFying Gravity series exploring all the most interesting projects appearing every day. Today we will take a look at Saitama, which is, though, promising to show the real value and attractive profits. Let’s see what the asset is about and if it is a serious player on the market.
What is Saitama?
Saitama is a community-driven platform that aims to promote financial well-being for the younger generation who are learning their ropes in the financial economy. The platform is powered by its native $SAITAMA token built on Ethereum with specific smart contracts that allow to safely invest the asset and benefit from holding it.
The project was called Saitama after the “ghost” dog seen in the prefecture with the same name in Japan. The token symbol shows the human face surrounded by the wolf’s fur. “Dog-connection” draws the attention of the community to project as another dog meme token, along with Doge, Shiba Inu, Floki, etc. All together the assets are often considered as a part of financial system evolution in general and a major crypto switch in particular.
More and more users turn towards easy-to-use and understand digital assets, instead of dealing with complicated and well-known cryptos like Bitcoin or Ethereum. Also, only new tokens offer a hold-to-earn mechanism when the user can increase their wealth just by having the token.
The core of Saitama’s idea is the digital assets that imply changes in social organization, but also the ways people pursue financial freedom. The first step in this way is to make everyone understand well enough how money works. Saitama follows its own agenda and provides content and tools for easy investment and asset management.
According to the Whitepaper, 93% of the Generation-Z investors are feeling lost when it comes to finances. Creators of the project want to educate the holders about how money works in the traditional and crypto economies.
But besides fun and education, Saitama claims to offer a real value for the asset in the future. The team keeps its word with the SaitaMask, a smart wallet that is currently pending CertiK audit completion. The wallet is designed to make the use of crypto easy for anyone, no matter how deep their knowledge about blockchain is, and also to allow convenient investment tracking. The wallet will be also connected to the NFT marketplace and Saitama educational platform.
Saitama's NFT Market will be the next product of the project. Users will be able to buy goods and services, most probably Saitama's merchandise and collectibles. SaitaMaker (NFT launchpad platform) will encourage the community members to build projects on Saitama. And last but not least is the Saitama Edutainment multi-channel platform. The platform will contain lots of educational and entertaining content about finances, including saving, investing, and money management in general.
The project is released by the anonymous team and claims to be community-owned and governed by the holders. According to the revealed data, over 40 professionals are working on the Saitama crypto.
The White Paper also narrates that Saitama's creator had to leave the project due to personal reasons, right after the platform was launched. By that time he had already created the community, believing in the idea, so the team of enthusiasts took over Saitama and kept on developing the project. The group is led by the team of 7 developers:
- Nam Tran
- Aaron (Elon) Mansour
- Manpreet Kohli
- Gabriel Klein
- Russell Armand
- Steve Rocket Crypto
- Max Hernandez
As the project aims for transparency and open communication, anyone can get to know more about the team and their backgrounds on the official website.
Tokenomics of Saitama
Saitama platform is powered by its native ERC-20 token $SAITAMA that was launched on May 31, 2021. The asset is used as a measure of transaction payments on the network and it is also a monetary system on its own. Smart contract feature awards loyal holders and the system is also protected from big whales’ decisions and possible manipulations.
Three main aspects of Saitama tokenomics can be distinguished:
- Passive income system — 2% of every transaction goes to the rewards pool, from where the assets are redistributed to the holders accordingly to the amount of Saitama coins they hold, thus every holder’s possessions increase every day as long as tokenomics work;
- Deflationary mechanism — meaning 2% from every transaction are being removed and burned to decrease the total supply and increase the value of each token; moreover, 49% of the supply was burned at the initial stage;
- Anti-whale trap — prevents any type of scam from the big wallet holders, making the system really independent and community-driven.
Saitama has a total supply of 100 quadrillion coins. 55% of them were already burned, 4% reserved for the initial liquidity and the rest is circulating.
As of now, Saitama has undergone 4 development stages. The first 4 stages brought up new gaming collaborations and the launch of the Saitama Edutainment platform. The team also worked hard to get the token listed on as many big and small exchanges as possible.
Currently, the project is going through the fifth one which includes reaching 200,000 holders, the creation of the Saitama fun token, the launch of the Saitama Mask 1 wallet, and also the final rollout of the proprietary NFT platform together with new collaborations.
Saitama also started to donate money to the charities from stage 2, even though initially it was planned to be just in the 5th stage of the development. Later on, the project plans to donate money to the student bodies, even more, to increase the awareness of crypto and continue exchange listing.
Saitama Price Prediction and the Future of the Project
Lately, the token was showing declining tendencies and the opinions of the analysts according to the token vary. Some are concerned it’s another pump-and-dump project offering no more than false promises, but there are also numerous supporters of the project believing that it can possibly follow the story of Doge and Shiba Inu and cause huge revenues for its holders.
In October the token started to gain momentum and reached its all-time high in November. After that, the value had cooled off and was trading at $0.00000009224(at the time of writing). Even though the community hopes the price to reach $0.01, it’s almost impossible with the current supply as it will be more than the whole crypto market.
Some recent Saitama news tells about the Bitmark hack, when over $200 million of crypto assets were stolen, including Saitama coins. That affected the token price that went down, but supporters of the project still expect the token price to grow.
If the project manages to complete its plans on rolling out all the products, it might see a brighter future than just fun meme tokens. But this will depend more on the development team decisions than on the community support.