Binance, a leading cryptocurrency exchange, has announced Saga (SAGA) as its 51st Launchpad project, allowing users to stake BNB and FDUSD to earn the SAGA token [2]. Saga is a Layer-1 blockchain that enables developers to launch other Layer-1 blockchains, called 'Chainlets'.
The SAGA token will be listed on Binance with various trading pairs on April 9, 2024 at 14:00 (UTC). This article explores the SAGA token specifics, staking pools and rewards, listing and trading details, and participant eligibility requirements for Binance's 51st Launchpad project, Saga.
SAGA Token Specifics
The Saga token (SAGA) is the native cryptocurrency of the Saga Protocol, a Layer 1 blockchain that enables developers to launch other Layer 1 blockchains called 'Chainlets'. Here are the key details about the SAGA token:
Total Supply: 1,000,000,000 SAGA
Launchpool Token Rewards: 45,000,000 SAGA (4.5% of max supply)
Initial Circulating Supply: 90,000,000 SAGA (9% of max supply)
Smart Contract: Saga Security Chain
The SAGA token will be used for payments, staking, and governance within the Saga Protocol. It will be listed on Binance with the following trading pairs on April 9, 2024, at 14:00 (UTC):
SAGA/BTC
SAGA/USDT
SAGA/BNB
SAGA/FDUSD
SAGA/TRY
The 'Seed Tag' will be applied to the SAGA token, indicating it is an early-stage cryptocurrency that may be more volatile and risky.
Total Daily Rewards: 11,250,000 SAGA
Farming Period: 2024-04-05 00:00 (UTC) to 2024-04-08 23:59 (UTC)
Hourly Hard Cap per User: 37,500 SAGA (BNB pool), 9,375 SAGA (FDUSD pool)
Staking Pools and Rewards
Binance is running a Launchpool farming period from 2024-04-05 00:00 (UTC) to 2024-04-08 23:59 (UTC), allowing users to stake BNB and FDUSD into separate pools to farm SAGA tokens. A total of 45,000,000 SAGA tokens (4.5% of the max supply) will be distributed as rewards during the Launchpool.
80% of the rewards (36,000,000 SAGA) will be allocated to the BNB staking pool
20% of the rewards (9,000,000 SAGA) will be allocated to the FDUSD staking pool.
The daily rewards distribution during the Launchpool will be as follows:
Listing and Trading
The Saga (SAGA) token will be listed on Binance on 2024-04-09 14:00 (UTC) with the following trading pairs:
SAGA/BTC
SAGA/USDT
SAGA/BNB
SAGA/FDUSD
SAGA/TRY
The SAGA token generation event is scheduled for 2024-04-09. Upon listing, SAGA will carry the 'Seed Tag', indicating it is an early-stage cryptocurrency that may be more volatile.
To participate in the SAGA token sale, users must adhere to the following requirements:
Complete KYC (Know Your Customer) verification
Comply with hourly hard caps per user for staking
Meet eligibility criteria based on residency (some countries excluded)
At the end of the 4-day farming period, SAGA tokens and rewards will be automatically transferred to users' spot accounts. Users can also claim their rewards directly to their spot accounts at any time during the farming period.
Participant Eligibility
To participate in the SAGA Launchpool and earn SAGA tokens, users must meet certain eligibility criteria:
Complete KYC (Know Your Customer) verification processes to verify their accounts. KYC is mandatory for all participants.
Binance has implemented these restrictions based on regulatory requirements and compliance policies in different jurisdictions. Users residing in the excluded countries/regions will be unable to participate in farming SAGA tokens during the Launchpool event.
The Binance Launchpad and Launchpool platforms aim to provide users with opportunities to discover and invest in new crypto projects while ensuring compliance with applicable laws and regulations. By enforcing KYC and residency requirements, Binance seeks to maintain a secure and compliant environment for its users.
FAQs
Can You Profit from Participating in Binance Launchpad Sales?
Yes, participating in Binance Launchpad sales can be lucrative. To join, you must own a specific amount of Binance Coin (BNB), which varies by project. While these sales offer the potential for substantial profits, they come with high risks.
Is Investing in Binance Launchpad a Good Idea?
Binance Launchpad presents a valuable opportunity for investment in emerging and innovative cryptocurrency projects. It allows investors to purchase tokens at a lower price before they are listed on the Binance exchange, potentially leading to significant profits.
What Exactly is Binance Launchpad?
Binance Launchpad serves as a token launch platform designed to support blockchain startups in fundraising for new projects. It offers extensive knowledge and support to help these teams reach a wider investor base. Some token launches on this platform have seen returns exceeding 30 times the initial investment for investors.
How Does One Farm on Binance Launchpad?
To farm SUI on Binance Launchpool, follow this 5-step guide:
Navigate to the Binance Launchpool website and log into your Binance account.
Stake your BNB, BUSD.
https://launchpad.binance.com/en/launchpool/SAGA_FDUSD
https://launchpad.binance.com/en/launchpool/SAGA_BNB
Await the start of the farming period.
Once farming begins, you can claim your rewards.
Finally, you have the option to unstake your tokens.
Project Details:
Binance Announcement:
https://www.binance.com/en/support/announcement/introducing-saga-saga-on-binance-launchpool-f
arm-saga-by-staking-bnb-and-fdusd-22674210af2b4d35b7ddc62c243d66fa
Website: http://saga.xyz/
Whitepaper:
https://sagaxyz.cdn.prismic.io/sagaxyz/08e727f2-88a2-4c95-ad17-b0b9579d2b69_saga-litepaper-march-2022.pdf
X: https://twitter.com/Sagaxyz__
Discord: https://discord.com/invite/UCRsTy82Ub
Telegram: https://t.me/sagaofficialchannel
#SAGALAUNCHPOOL #SAGA/USDT #BullorBear