Binance officially announced that it will launch Saga (SAGA) at 22:00 on April 9, 2024, and open SAGA/BTC, SAGA/USDT, SAGA/BNB, SAGA/FDUSD and SAGA/TRY trading markets, subject to seed tag trading rules.
Binance Launchpool now supports the 51st project - Saga (SAGA). Users can invest BNB and FDUSD into the SAGA mining pool on the Launchpool website after 08:00 on April 5, 2024 (GMT+8).
What are the advantages of#SAGAthat won Binance's favor, stood out among many projects, and was successfully listed on Binance. Today we will analyze and interpret SAGA from the aspects of its origin, background, financing, business characteristics, etc., and also make a price estimate for $SAGA, which will be listed on Binance, for your reference.
Speaking of SAGA, we have to mention that the DePIN narrative brought Helium (Mobile) to the forefront last year. At the recent ETHDenver 2024 conference, DePIN was listed as a hot track. Its new concept is cloud phones, especially the Saga phone launched by Solana not long ago, which was snapped up in anticipation of airdrops. Saga airdropped 30 million BONK tokens to each phone owner. In November 2023, BONK broke through the resistance point and continued to soar, causing the value of the airdrop to exceed the cost of the phone itself, and Saga's fate changed.
On March 7, Saga, the Cosmos ecosystem scalability protocol, announced that its community genesis Drop is now live. More than 200,000 users have the opportunity to participate in this event, and eligible addresses can apply for up to 60,000,000 SAGA tokens (6% of the total supply). As of 20:00 on March 27, 2024, the airdrop query website has been announced. Users from Cosmos, Celestia, Polygon, Avalanche, and Solana communities are eligible to participate, as are Saga investors and community users who have participated in tournaments, developer stress tests, social tasks, and the upcoming NFT community. It has caused a huge response!
Decentralized gaming community Saga announced that it has completed a $3.6 million financing round led by Animoca Brands, with participation from Delta Blockchain Fund, Genblock Capital, Moonchain Capital, Compute Ventures, NGC Ventures, Highstreet Ventures, M31 Capital, TsingTing Capital, Metal VC, PANONY, Rainmaker Games, Everest Ventures Group, vEmpire, SL2 Capital and AAG Ventures.
SAGA, which will be launched on the mainnet in April, is connecting the three major public chain systems of Polygon, Avalanche, and Celestia, and creating a thousand-game ecosystem in the field of games and entertainment. It should be noted that in the past two years, more than 350 game and entertainment projects have entered the Saga protocol. Among them, 80% are games, and entertainment and DEFI account for 10% each.
Saga's past and present
Saga is a Layer 1 protocol designed to automatically provision application-specific blockchains in the multiverse, allowing developers to develop parallel, interoperable, dedicated chains — - "Chainlets" for different virtual machines, providing unlimited scalability for applications. It fundamentally reimagines how developers and end users interact with blockchains to enable scalability, sovereignty, and ease of setup. Through shared security, innovative validator orchestration, and an automated CI/CD deployment pipeline standardized across single-tenant application VMs, Saga makes launching a dedicated blockchain or small chain as easy as deploying a smart contract.
Mass adoption of blockchain is imminent, and developers need an infinitely scalable, interoperable, and cost-effective underlying infrastructure to support consumer applications.
Saga allows developers to launch dedicated blockspaces on demand that elastically scale based on performance needs, opens fast bridges to other ecosystems, and is priced at commodity prices. Saga provides the E2E infrastructure developers need to build the next generation of applications on the blockchain.
The Saga protocol is a fully decentralized proof-of-stake chain. Each Chainlet has the same validator set and security model as the Saga mainnet.
Each Chainlet has the following functions:
Unlimited horizontal scalability: All Chainlets are parallelized application chain instances, allowing applications to elastically scale to their peak performance and speed.
Low-cost transactions and low and predictable chain fees: Developers can choose any monetization model they like, including their own token (or no token at all), fiat currency, stablecoins, or even another ecosystem's token. All chainlet fees are determined by a daily reverse auction between validators, encouraging commodity pricing of block space.
Automation: Developers can build a Chainlet by simply clicking a button in the Saga WebApp.
Interoperability and fast bridging: Users can freely and quickly transfer assets between Chainlets and Saga and other ecosystems using automatic interoperability and asynchronous composability. Since each Chainlet provides fast transaction finality, users can also take advantage of fast bridging to other chains.
Fully flexible stack: Developers enjoy their own dedicated chain, allowing for optimal flexibility and customizability of the environment.
Saga uses shared security to automatically instantiate a fully decentralized proof-of-stake chain. Each Saga Chainlet is protected by Saga mainnet validators using shared security.
Saga shared security is similar to Eigenlayer staking in that one staked asset is reused to secure multiple chains. Chainlets can be configured to use a variety of virtual machines (i.e. EVM, SolanaVM, MoveVM). Each Chainlet has a dedicated VM that is deployed to a single chain. EVM is the first VM supported by Saga Chainlets. Saga enables developers to manually "shard" various workflows into multiple Chainlets to facilitate horizontal scaling. Since all Chainlets communicate with each other, developers can have multiple chains supporting the same application, enabling unlimited horizontal scalability.
Saga Project Economic Model and Business Development
Saga divides the token economy into two conceptual components: the front end and the back end. The front end refers to the flow of tokens between Chainlet end users and Chainlet developers.
The backend is the token flow part between Chainlet developers and Saga chain. The backend is the token flow between Chainlet developers and Saga chain.
On Saga, end users of each application only interact with Chainlets. All fees for providing Chainlets are paid by the application developer. Splitting the token mechanism into two independent parts can bring interesting usability advantages and value accumulation to developers and partner chains. Since Saga's unique token model allows end users to pay fees in any Cosmos IBC-compatible token, these Chainlets can be used as dedicated application chains or as a horizontal scaling solution by other L1 and L2 chains.
Excellent founders and team
Saga has attracted much attention since its inception. After graduating from Stanford, its founder Rebecca Liao started her career as a lawyer in a financial institution. As she had always dreamed of working in the technology industry, she joined the artificial intelligence technology company Globality Inc[3] during 2013-14, where she paid attention to Bitcoin and blockchain technology and soon decided to join the blockchain startup. She met Zaki and founded SkuChain[4], a blockchain project focusing on the DeFi field. At the beginning of the project, it mainly provided short-term liquidity for small and medium-sized enterprises outside the United States. In early 2021, the platform transaction volume reached 5 billion US dollars. She co-founded Saga with Tendermint executive Jin Kwon, CTO-Jacob McDorman and several other developers, and worked together to reduce the difficulty of Cosmos developers; and focused on games and entertainment to create the Saga multiverse.
In less than 2 years, the Saga ecosystem has grown to 350 projects based on its protocol, 80% of which are games. Saga has also established partnerships with Polygon, Avalanche, MarbleX, Com2uS, and Celestia to automatically scale its infrastructure using Chainlets. As of April 1, 2024, the program includes 350 projects. 80% of these projects are games. About 10% of the projects are NFT and entertainment, and 10% are DeFi.
Saga has raised $15 million to date from investors including Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment, and Chorus One.
$SAGA is the native utility token of the Saga protocol
What makes Saga different from other cryptocurrency projects is the nature of the investment. It is not an ICO or token generation event, but a deal made by traditional investors and hedge funds, including Mangrove Capital Partners, Lightspeed Venture Partners, The Singulariteam Technology Group and Initial Capital.
Saga’s senior advisors include Jacob Frenkel, Chairman of the Board of Directors of JPMorgan Chase, Professor Dan Galai, co-developer of the Volatility Index, and Professor Myron Scholes, Nobel Prize winner in Economics.
Saga wants to be the first non-anonymous, non-volatile cryptocurrency. The Swiss company believes there is a balance between user privacy and regulatory responsibility. Saga will use a formal "know your customer" process that banks generally use for each user. This is what makes it different from other competitors.
Saga is supported by a variety of storage mechanisms, which are related to the Special Drawing Rights (SDR) of the International Monetary Fund. SDR is an international storage asset created by the International Monetary Fund in 1969, which can be used to repay IMF debts and make up for international payments deficits between member governments. In September 2017, the organization created 204.2 billion units of SDR (worth $291 billion), which can be exchanged for available currencies free of charge. In Saga's case, these reserve assets can be deposited in banks through the algorithm of smart contracts.
Saga doesn’t bill itself as a technology company. To create this new currency, it brought together a team of experts from multiple fields, including economics, mathematics, anthropology and social sciences. Its focus was on creating a completely new technology solution that was not based on blockchain.
Professor Scholes said: "Blockchain technology will change the financial structure, including the processing and analysis of transactions. This technology has a higher efficiency in solving financial problems."
$SAGA can be used in the following scenarios:
Payments for Chainlets: Developers pay network validators in $SAGA tokens to instantiate and keep their Chainlets alive.
Staking: Stakers help secure the network and receive rewards in $SAGA tokens and tokens of projects built on the Saga Protocol.
Governance: $SAGA token holders will be able to vote on network governance decisions.
As of April 4, 2024, the initial supply of $SAGA is 1,000,000,000. The total circulation at the time of the TGE is approximately 90,000,000 (accounting for 9% of the total initial supply of tokens).
Token Economic Model
Token Allocation
Token issuance schedule
Note: The Ecosystem & Development Fund and Foundation Reserve will continue to unlock after April 2031. Approximately 6.1% of the initial total supply is reserved for potential future fundraising activities.
$SAGA Price Estimates
According to non-small data, the supply of GALA is currently 35.2 billion, the current price is 0.055 USDT, and the supply market value is 1.936 billion USDT.
After SAGA goes online, the circulation volume accounts for 9%. With a circulation volume of 1 billion, 90 million are in circulation. If it reaches the market value of the leader of the GAMEFI sector, the price will be 21.5USDT. Of course, this price may be a target price for SAGA in the future. I personally think that if the price of SAGA reaches 10USDT during the opening FOMO stage, which is half of the market value of the equivalent GALA supply, it may be sold off.
From the perspective of Binance Launchpool, the quota is 45 million BNB. As of the afternoon of April 5, the total amount of BNB pledged is 17,585,114, and the BNB mining pool has 36 million SAGA. According to the past income of Launchpool, the yield of three days of staking is generally around 1.5%. Then according to the current staking ratio, the average price of SAGA on the opening day is 4.25 USDT.
Therefore, for SAGA’s entry price, I personally think that an opening price below 3.1 USDT is a worthy entry point that is biased towards value.
Based on my understanding of SAGA’s white paper, I personally think SAGA is likely to surpass the leading cryptocurrency in the GAMEFI sector, $GALA
More than 350 projects now in the Saga Innovator program
All Saga-based projects are part of the Saga Innovator Program, which includes 350 projects as of April 1, 2024. 80% of these projects are games. About 10% of the projects are NFT and entertainment, and 10% are DeFi. The full list of innovators can be found on the official website. Saga announced the last batch of innovators before the mainnet launch. 350+ projects are now in the Saga Innovator Program!
Saga has also established partnerships with other Layer 1 protocols
Saga has also partnered with the following Layer 1 protocols to scale their infrastructure using Chainlets:
Polygon: Saga will automate the Polygon CDK chain
Avalanche: Saga will automate the Avalanche subnet
Celestia: Saga will automatically perform decentralized rollups with Celestia DA
MarbleX: Saga will provide scaling infrastructure for the MarbleX chain
Com2uS: Saga will provide scaling infrastructure for the Com2uS chain
Saga launches Saga Origins game publishing division
In March 2024, Saga launched Saga Origins, a new game publishing division dedicated to bringing cutting-edge, premium games to market.
Saga is a web3 chain that has established a dedicated game publishing department for developers to collaborate and release their projects.
Saga Origins is committed to providing a full-service and collaborative approach to bringing games to the global mass market. Traditionally, developers only receive funding when they build and release their games, but Saga Origins provides additional beneficial support, including working with influencers to increase awareness, sponsoring user acquisition campaigns, community building, and promotional support.
Through its ongoing Play-to-Airdrop campaign, Saga, gaming studios, and guilds have all teamed up to organize tournaments where players are rewarded with the much-sought-after $SAGA token for participating. Most recently in January, Saga completed a revolutionary Three Kingdoms airdrop campaign alongside participating partners Avalanche, Polygon, and Solana.
The Saga Pegasus Incentivized Testnet was launched in Q4 2023 and achieved the following results:
Saga mainnet, the first phase will include Saga security chain and platform chain
The Saga Security Chain and Platform Chain will together make up the Saga mainnet. Security chain - as the first of many sources of security for the Saga protocol, Platform chain - the destination for developers to launch and maintain their Chainlets. Chainlet - the area where all applications live and where end-user activity takes place. The first Chainlet stack will be an EVM-based Chainlet to support the large Solidity and Ethereum ecosystems, but the goal is to be agnostic to the VM, allowing developers to deploy in whatever environment they prefer.
Saga’s mission is to enable the next 1,000 franchises in gaming and entertainment to be part of the growing Saga Multiverse.
Market experts generally predict that 2024 will be a critical moment for the cryptocurrency market to usher in a new round of bull market. Researchers see the next Bitcoin (BTC) halving and the possibility of a spot BTC ETF (Exchange Traded Fund) in 2024 as potential factors driving the next bull market. The possible outbreak of this bull market is expected to attract a large number of new investors to the cryptocurrency field.
How to seize this historic opportunity and achieve financial freedom is a question that everyone is thinking about. Saga is recognized as the leading developer ecosystem in the field of encryption and Web3 games. It is creating the developer environment of the future and has the potential to become the new leader of this round of bull market. It deserves special attention.
Once again, Binance will launch Saga (SAGA) at 22:00 on April 9, 2024. Please set your alarm and don’t miss this historic opportunity. If you don’t have a Binance account yet, click here to register: https://binance.com/zh-CN/join?ref=23279581
Project related information:
1. Project research report:
https://binance.com/en/research/projects/saga
2. White Paper:
https://sagaxyz.cdn.prismic.io/sagaxyz/08e727f2-88a2-4c95-ad17-b0b9579d2b69_saga-litepaper-march-2022.pdf
3. Official website:
https://saga.xyz
4. Official Twitter:
https://twitter.com/Sagaxyz__
Important note: The above content is for reference only and does not constitute any investment advice. If you invest based on this, all risks are at your own risk. Investment is risky and you should invest with caution.