The 51st project on #BinanceLaunchpool has officially been named #Saga . The most recent project on Binance Launchpool is ENA which was very successful when it launched. It is entirely possible for Saga to follow in ENA's footsteps and achieve success. Right now, let's find out with Coinplus what #Saga is, what SAGA Token is, what SAGA is used for!
What is Saga?
Saga is a layer 1 network that allows developers to automatically spin up dedicated chains. These chains are parallel and interoperable, also known as “Chainlets”. Chainlets give applications infinite horizontal scalability.
Saga has raised $15 million to date. Investors include Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment and Chorus One.
Saga's mission
Saga's mission is to support the next 1000 series in gaming and entertainment as part of the growing Saga Multiverse.
Features of the chainlets
Each Chainlet has the following features:
Infinite horizontal scalability. All Chainlets are parallel application chain instances. It allows applications to scale dynamically to achieve the highest performance and speed.
Transactions are inexpensive and chain fees are low and predictable. Developers can choose any monetization model they like. Including their own tokens, fiat currencies, stablecoins or even other ecosystem tokens. All Chainlet fees are set by a daily reverse auction between validators, incentivizing commodity pricing for block space.
Automation: Developers can set up Chainlet with the click of a button in Saga WebApp.
Interoperability and Fast Connectivity: Users can transfer assets freely and quickly between Chainlets – and Saga and other ecosystems – using automated interoperability and connectivity. asynchronous. Because each Chainlet provides fast final transactions, users can also take advantage of fast connectivity with other chains.
Fully flexible stack: Developers enjoy their own dedicated threads, allowing for optimal flexibility and customization of the environment.
Some of Saga's achievements
Up to now, there have been 350 construction projects on Saga. Of which 80% are gaming projects, 10% are NFTs and entertainment, the remaining 10% are DeFi.
What is SAGA token?
$SAGA is the native utility token of the Saga ecosystem. SAGA tokens are used for activities in the Saga ecosystem.
SAGA metric
Name: SAGA
Loại Token: Native Cosmos token
Initial Circ. Supply when listing Binance: 90,000,000 (9% of total supply)
Maximum total supply: 1,000,000,000
Allocation on Binance Launchpool: 45,000,000 (4.5% of total supply)
Binance Launchpool start date: April 5, 2024
SAGA Allocation
SAGA tokens will be allocated as follows:
Binance Launchpool: 4.50% of total supply
Ecosystem and developers: 30.00% of total supply
Airdrop: 15.50% of total supply
Reserve fund: 10.00% of total supply
Core Contributor: 20.00% of total supply
Investors: 20.00% of total supply
SAGA unlock schedule
SAGA will be unlocked according to the chart below:
The Ecosystem Reserve and Development and Fund will continue to unlock after April 2031. Approximately 6.1% of the total initial supply is reserved for potential future fundraising events.
What is SAGA token used for?
SAGA tokens are used for the following functions:
Payment for Chainlets: Developers pay SAGA$ tokens to network validators to initiate and keep their Chainlets alive.
Stake: Stakeholders help secure the network and receive $SAGA tokens as well as tokens of projects built on the Saga protocol as rewards.
Governance: $SAGA token holders will be able to vote on network governance decisions.
How to receive SAGA tokens?
Launchpool SAGA will start at 7am on April 5, users can use BNB or FDUSD to farm SAGA for free. You will have 4 days to farm this token. On April 9, SAGA will be listed on Binance.
If you do not have a Binance account, enter code KNAE9ERI to receive a reduced transaction fee.
summary
Recently we learned together basic information about Saga. Hopefully through this article you have partly understood the basic information about this project. Note that this is not investment advice, please consider making your own decision!