Binance's new coin mining project Saga posted on the X platform that more than $13 billion of funds have participated in staking mining within 24 hours, making SAGA the largest Launchpool in Binance's history.
What is Saga?
Saga is a Layer 1 protocol that allows developers to automatically launch parallel, interoperable, specialized chains — “Chainlets” — for different virtual machines, providing unlimited scalability for applications.
The protocol’s native token is #Saga and has the following features:
Payments for Chainlets: Developers pay network validators $SAGA tokens to keep their Chainlets operating.
Staking: Stakeholders help secure the network and receive as rewards $SAGA tokens and tokens from projects built on the Saga protocol.
Governance: $SAGA token holders will be able to vote on network governance decisions.
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 their infrastructure using Chainlets.
Currently, Saga has successfully raised US$15 million from investors including Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment and Chorus One.
Detailed research report: Binance saga research report
Project value concept:
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 that developers need to build the next generation of applications on the blockchain.
At present, Saga's main L1 partners are:
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
Token Allocation:
Total quantity: 1,000,000,000 SAGA (1 billion).
Initial circulation is 9%, 90,000,000 (90 million). Among them, Binance launchpool accounts for 4.5%, 45,000,000 (45 million)!
Token usage:
1⃣️ Staking. Like other chains in the cosmos ecosystem, it has the most basic token staking function (protecting the network and obtaining considerable returns), but it seems that it has not been opened yet, and the official website has not been found, and the chain has not been found on the keplr wallet.
2⃣️Governance. Same as above, voting on community proposals.
3⃣️Gas fee. However, it is for applications in the on-chain ecosystem. Gas is collected from ecological applications, and applications can define their own gas fee types, such as native sage tokens or other tokens.
Binance Mining:
Mining time: 08:00 on April 5, 2024 to 07:59 on April 9, 2024, GMT+8
Total mining volume: 45,000,000 SAGA (4.5% of the maximum token supply)
Saga project goal: to become the cross-chain leader of Web3 metaverse!
In this bull market, no phenomenal projects have been born in the metaverse field!
Does Saga have such potential?
This tendency exists in both market positioning and control of token issuance. As public chains compete for market liquidity and form their own technical barriers, cross-chain will be particularly popular. Whether the project itself wants to attract a large user base from other public chains, it also needs cross-chain support. Saga’s opening of the channel to the metaverse will also stimulate the unlimited potential of this market!
After all, the east wind is blowing and it’s almost time for this sector to reach it!
Saga Price Prediction:
Judging from the capital participation of 13 billion+, the popularity of Saga has reached the peak among new coins in this bull market!
Judging from the initial circulation of tokens, it is only 9% of the total token supply, which is only 90 million!
4.5% is obtained through mining, which is 45 million coins. This means that the selling pressure faced at the beginning of the opening will be slightly greater, and the transaction volume may reach 500 million to 1 billion in the first 4 hours of the opening!
1⃣️ Conservative, with an initial market capitalization of 350-600 million, then the corresponding price is $3.8-6.5!
2⃣️ Aggressive type, with an initial market value of $600-800 million, then the corresponding price is $6.5-8.5
3⃣️FOMO type, the initial circulating market value is 1 billion+, then it will reach 10-11 dollars+
According to the previous ETHFI up to 36 times the opening price and ENA's explosive increase in market value of 3 billion US dollars, this saga is expected to open at a height of 2⃣️ or 3⃣️. If there is a chance of 2.5-3.5, then I will definitely enter the market!
Pay attention to whether the first wave of strong selling pressure will give you 2.5-3.5 opportunities. If you do, be bold and pick up money in batches!
