Binance Launchpool 51st Saga Overview
Introduction
Saga is a layer 1 protocol that allows developers to automatically launch parallel and interoperable private chains that can be elastically scaled according to their Web3 application needs. Using shared security, advanced validator orchestration, and an automated deployment pipeline standardized across any type of blockchain virtual machine, Saga makes launching a private chain or Chainlet as simple as deploying a smart contract. Its features include: easy to deploy, affordable, and fast/scalable.
Technical Solution
-Shared Security: Saga uses Cosmos's shared security model, and each application chain (called Chainlet) inherits the security of the main network. This means that Chainlet does not need to maintain a validator node by itself, thereby reducing operating costs.
-Validator Sorting: Saga uses the Tendermint consensus mechanism and combines validator sorting technology to effectively increase the throughput of the blockchain.
-Standardization of cross-single-tenant application virtual machines: Saga standardizes cross-single-tenant application virtual machines, making it easy for developers to deploy applications on Chainlet. Currently, Saga supports EVM and WASM virtual machines.
-Automated CI/CD deployment pipeline: Saga provides an automated CI/CD deployment pipeline that allows developers to quickly and easily deploy Chainlets.
Application scenarios
-Games: Saga can provide high-performance, low-cost blockchain infrastructure for games. For example, it can be used to build in-game economic systems, game asset management, game identity authentication, etc.
-Finance: Saga can be used to build decentralized finance (DeFi) applications. For example, it can be used to build decentralized exchanges, lending platforms, derivatives trading platforms, etc.
-Social media: Saga can be used to build decentralized social media platforms. For example, it can be used to build decentralized content publishing platforms, decentralized social networks, etc.
-Identity management: Saga can be used to build decentralized identity management systems. For example, it can be used to build decentralized identity authentication, decentralized data storage, etc.
-Internet of Things: Saga can be used to build Internet of Things (IoT) blockchain solutions. For example, it can be used to build IoT data management, IoT asset tracking, etc.
Project Progress
The Saga project is currently in the testing phase and is expected to be launched on the mainnet in the second half of 2024.
Team
Rebecca Liao is the co-founder and CEO of Saga and the co-founder, advisor, and former COO of Skuchain. She is currently an advisor to Sommelier Protocol, designing their DAO, and a fellow at Stanford University's Law, Science, and Technology Program, where she focuses on technology policy.
Jacob McDorman is the co-founder and CTO of Saga, and previously co-founder of software consulting company Cellaflora. He holds a bachelor's degree in mathematics from Purdue University.
Jin Kwon is the co-founder and chief strategy officer of Saga, and was previously the vice president of corporate development at Ignite. He holds a master's degree in computer science from the University of California, Berkeley.
Bogdan Alexandrescu is the co-founder and vice president of engineering of Saga and a partner at Blocktech Ventures. Prior to joining Saga, he worked at Apple and Twitter as an engineering leader, managing engineering organizations focused on developing cutting-edge solutions in the fields of advertising, data engineering, large-scale ML/AI, and infrastructure projects. Bogdan’s expertise spans a variety of areas, including engineering management, software development, and project leadership. His educational background includes a Master’s degree in Computer Science from UC Davis with outstanding academic performance, and a degree in Management, Business Administration, and Leadership from Harvard Business School.
Financing
Saga has raised $15 million to date.
Investors include Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment, and Chorus One.
Token Information
The Saga Token (SAGA) is a native token used to pay transaction fees on the Saga network and is used for the following functions:
-Chainlet Payments: Developers pay $SAGA tokens to network validators to instantiate and keep their chainlets active.
- Staking: Stakers help secure the network and receive $SAGA tokens and tokens of projects built on the Saga protocol as rewards.
- Governance: $SAGA Token holders will be able to vote on network governance decisions.
As of April 4, 2024
Maximum supply: 1,000,000,000 SAGA
Initial circulation: 90,000,000 SAGA (9%)
Binance Launchpad mining total: 45,000,000 SAGA (4.5%)
Price expectations
According to the performance estimates of the currencies listed on Launchpool
At the beginning of the launch, each coin will be below 3 US dollars, which is profitable
Saga CEO in the middle of the picture
