What is Saga (SAGA)? Details of the 51st project on Binance Launchpool
What is Saga (SAGA)?
Saga is a layer-1 protocol that allows developers to dynamically create parallel, interoperable, and scalable specialized blocks, or “Chainlets,” that flexibly according to application needs. User's Web3.
The platform allows developers to launch Chainlets at the click of a button, orchestrating advanced validators and standardized automated CI/CD deployment workflows on any type of blockchain virtual machine.
Additionally, the project provides developers, users, with the premium tools and support they need to make the Web3 dream a reality.
Saga has SagaOS as an integrated “stack” for Web3 application development.
Saga's mission and values
In less than 2 years, Saga has grown from 0 to 350 projects built on its protocol, 80% of which are gaming. The project has also signed partnerships with Polygon, Avalanche, MarbleX, Com2uS, and Celestia to automatically scale their infrastructure using Chainlets.
The project's next mission is to support the next 1,000 chains operating in the gaming and entertainment field.
· Mass adoption of blockchain is happening and developers need the right infrastructure, one that is infinitely scalable, interoperable and cost-effective to support applications for user.
· By allowing developers to create on-demand dedicated block space that is scalable, high-performance, fast-bridges to other ecosystems, and priced at a commodity level, Saga provides the the E2E infrastructure developers need to build the next generation of applications on blockchain.
All projects built on Saga are part of the Innovator Program. As of April 1, 2024, 350 projects were included. 80% of these projects are gaming. About 10% of projects are NFTs and entertainment, and 10% are DeFi. You can find the full list of Innovators: HERE.
The project also has partnerships with the following layer-1 protocols to extend their infrastructure using Chainlets:
· Polygon: Saga will automate Polygon CDK chains.
· Avalanche: Saga will automate Avalanche Subnets.
· Celestia: Saga will automate decentralized aggregations with Celestia DA.
· MarbleX: Saga will provide the scaling infrastructure for the MarbleX chain.
· Com2uS: Saga will provide scaling infrastructure for the Com2uS chain.
In March 2024, Saga launched Saga Origins, a new game publishing division dedicated to bringing quality, cutting-edge games to market.
Saga is a web3 chain that aims to establish a dedicated game publishing arm for developers to collaborate on releasing their projects.
Saga Origins is committed to providing a full service and collaborative approach to bringing gaming to the global mass market.
Saga Origins provides beneficial support, including partnerships with influencers to raise awareness, sponsor user acquisition campaigns, community building and advertising support.
Saga Pegasus Incentivized Testnet was released in Q4 2023 and here are the record numbers recorded:
Saga Pegasus
Saga Mainnet, Phase 1 will include Security Chain and Platform Chain. Together, Security Chain and Platform Chain will form the Saga Mainnet.
· Security chain: serves as the first of many sources of security for the Saga protocol
· Platform chain: where developers launch and maintain their Chainlets
· Chainlet: where all applications live and end user activities take place.
Feature
Saga Protocol is a fully decentralized proof-of-stake chain. Each Chainlet is a replica of the Mainnet, with the same set of validators and security model.
Each Chainlet has the following features:
· Infinite horizontal scalability
· Inexpensive transactions and low chain fees
· Automation
· Interoperability and fast connection
· Flexible stacks
· Key metrics
· Token name: Saga
· Code: SAGA
· Token type: Utility, Governance
· Contract: update…
· Supply when listed on Binance: 90,000,000
· Total supply: 1,000,000,000
· Binance Launchpool Allocation: 45,000,000
SAGA tokens will be used for:
· Payment for Chainlets: Developers pay SAGA tokens to network validators to initiate and maintain their Chainlets.
· Staking
· Governance: SAGA holders will have the right to vote on governance decisions within the platform.
· Binance Launchpool: 4.5% of total supply
· Airdrop: 15.5% of total supply
· Investors: 20% of total supply
· Core Contributors: 20% of total supply
· Foundation Reserve: 10% of total supply
· Ecosystem and Development: 30% of total supply
Saga on Binance Launchpool
· On April 4, Binance announced Saga will be the 51st Launchpool project.
· Farming time: 4 days from 7am on April 5 (Vietnam time).
· stake: BNB, FDUSD
· Listing time: April 9, 9 p.m. (Vietnam time).
· Saga token payout schedule
· token payment schedule
· Saga development roadmap
· Development roadmaps in 2024:
· Launching Mainnet Phase 1: Launching Security Chain and TGE
· Launching Mainnet Phase 2: Basic Cross Chain Validation Enabled
· Mainnet Phase 3 Launch: Chainlets begin to inherit security from Platform Chain
· Launching Mainnet Phase 4 and 5: Validator begins validating transactions
· Launching Mainnet Phase 6: Completing Protocol V1
Team
The project team includes many experienced members. There are 4 important people:
· Rebecca Liao (CEO)
· Jin Kwon (Strategy Director)
· Jacob McDorman (Chief Technology Officer)
· Bogdan Alexandrescu (Engineering)
Investors
The project has completed 2 rounds of capital calling in 2022 and 2023. Total proceeds are 11.5 million USD.
Investment funds that participated in the capital call include "Crit Ventures, Tess Ventures, Samsung NEXT, LONGHASH Ventures and other investment funds...
summary
All of the above information is what you need to know about Saga. Hopefully the above basic information will help you have a more general view of this project.
Please note that this article should only be considered as reference information and should absolutely not be considered an investment recommendation.
