Binance announced that the Saga mainnet was officially launched, and the price surged 19,800% in three hours.
Binance exchange recently announced that the mainnet of Layer 1 protocol Saga has been successfully launched, triggering enthusiastic trading of its token SAGA. According to Binance data, the SAGA token has risen by an astonishing 19,700% in just two hours since its launch on Tuesday. By 4:03 p.m., its trading price had soared to more than $6, showing a strong market performance.
SAGA token price soared, with high volatility
According to the Binance exchange's listing page, the SAGA token opened at $0.04, but then quickly climbed, hitting a high of $7.89. However, the exchange also warned investors that the SAGA token is currently facing "high volatility" and advised investors to operate with caution.
Analysis of the features and advantages of the Saga protocol
Binance's research report explains the characteristics of the Saga protocol in detail. The Saga protocol allows developers to create virtual machine-independent, parallel and interoperable dedicated chains or "small chains", providing unlimited horizontal scalability for applications. The protocol is focused on games and entertainment and is hailed as "a fully decentralized proof-of-stake chain."
Saga officially announced the launch of the mainnet and looks forward to future development
In a post on the X platform, Saga officially announced that its mainnet was officially launched on Tuesday. The company emphasized that Saga ensures that each application runs on an independent dedicated block space with built-in interoperability through innovative shared security, precise validator orchestration tools, and seamless automated deployment pipelines.
Saga founder talks about the significance and vision of the mainnet
Rebecca Liao, co-founder and CEO of Saga, said that the launch of the Saga mainnet is a fulfillment of the promise to redefine web3 development, allowing creators to deploy their blockchains to end users at zero cost. This move will greatly promote the application and development of blockchain technology in the fields of games and entertainment.
Saga cooperation and ecological construction are progressing rapidly
The Binance report also pointed out that the number of projects based on the Saga protocol has rapidly increased from 0 to 350, of which 80% are game projects. In addition, Saga has established partnerships with several companies including Polygon, Avalanche, MarbleX, Com2uS and Celestia to automatically scale their infrastructure through chainlet technology.
Saga focuses on game distribution and has received multiple rounds of financing
Last month, Saga also established a department dedicated to game distribution, further highlighting its strategic layout in the game field. At the same time, the company announced that it has raised a total of US$15 million from many investors such as Samsung and Polygon, providing solid financial support for future development.
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