On April 4, Binance announced a new Lanchpool project: @Sagaxyz__.
This is a Layer 1 protocol that allows developers to automatically launch parallel, interoperable, dedicated chains (Chainlets) for different virtual machines. It may seem a bit confusing, but it is easy to understand in plain language: it helps developers launch chains with one click.
Saga has raised a total of US$15 million from investors including Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment and Chorus One.
The total amount of the official token $SAGA is 1 billion, and the initial circulation of TGE is 9%. Among them, the quota allocated to Binance Lanchpool is 45 million, which supports BNB and FDUSD mining. After the mining of new coins in this period was opened, a large amount of funds poured in. Among them, the whale Blast, which ranked fourth in staking, directly stuffed 68,108 BNB, worth more than 40 million US dollars. So far, the staking pool has exceeded 14 billion US dollars, setting a record for Binance Lanchpool. Such a high market participation, on the one hand, shows that Binance's new coin mining has a strong wealth-making effect, and users participating in staking are profitable. On the other hand, it shows that Saga has strong strength and strong community consensus.
To help you get to know Saga in depth, we have sorted out some key information as follows. In addition, on the day Binance opens, 5 people who like and forward this post will be drawn to share $SAGA worth 100U. 1. Team background According to Rootdate statistics, all of Saga's co-founders graduated from prestigious universities, including Stanford, Harvard Business School, and University of California, and have continuous entrepreneurial experience. Before joining Saga, they held leadership positions in large companies and crypto projects.
For startups, the resumes of team members from prestigious universities and companies are undoubtedly a plus, which helps to connect with capital and go public. 2. Financing Saga has raised a total of 15 million US dollars, which is not a large amount, but the background of the investors is very strong. In addition to Placeholder, Maven11, Longhash and other institutions participating in the investment, Cosmos veterans Zaki Manian, Jae Kwon, and former Hashed co-founder Alex Shin, Polymer co-founder Bo Du and other industry OGs have also invested.
As we all know, many VCs don’t care about projects after investing in them, and it is difficult for them to accompany the growth. For infrastructure projects like Saga, resources are sometimes more important than funds.
The Saga team is clearly well aware of this. As a result, we can see that their investors almost all have strong resources, which will undoubtedly lay the foundation for the development and growth of the Saga ecosystem. 3. Project highlights There are many introductions to Saga's highlights, but most of them are relatively obscure and seem difficult for non-technical personnel to understand.
Let's put it in plain words: Saga provides modular infrastructure, supports developers to launch chains with one click and unlimited expansion. If compared with SaaS (Software as a Service) in the Web2 world, Saga is blockchain-as-a-service.
In addition, the official also cooperated with Layer1 protocols such as Polygon, Avalanche, and Tia to expand its infrastructure on a larger scale. However, their external publicity is almost entirely in the field of games, which seems a bit overkill. 4. Ecological status In order to support the development of the ecosystem, Saga launched the Innovator Program to attract various high-quality blockchain projects.
According to the latest published data, the plan has more than 350 projects, of which 80% are games, 10% are NFT and entertainment, and 10% are DeFi.
5. Token Model The total amount of the official token $SAGA is 1 billion, and the initial circulation is 90 million.
Token distribution: Binance Lanchpool 4.5%; Ecosystem and Development Fund 30%; Airdrop 15.5%, Foundation Reserve 10%; Core Contributors 20%; Investors 20% 6. Airdrop Scope According to previous official news, 60,000,000 SAGA tokens (6% of the total supply) will be issued to eligible addresses, covering more than 200,000 users.
Users from the Cosmos, Celestia, Polygon, Avalanche, and Solana communities are eligible to receive, as are Saga investors and community users who have participated in tournaments, developer stress tests, social tasks, and some NFT communities.
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