After the mainnet went live and Binance listed, the volatility of Saga tokens is very high.
According to Binance, the exchange where the token first began trading on Tuesday, the mainnet for layer-1 protocol Saga has gone live and its tokens appear to be generating a huge amount of trading activity.
According to Binance’s listing of the SAGA token, trading data shows the token is up more than 15,000% since early Tuesday and is trading at over $6 as of 2:03 PM ET. SAGA opened at a low of $0.40 and at one point hit a high of $7.89, according to exchange data. On its listing page, the exchange warned that SAGA tokens are currently exposed to “high volatility.”
Saga’s Protocol According to a Binance research report, “Developers can automatically spin up dedicated chains, or ‘chainlets,’ that are VM-independent, parallelizable, and interoperable, providing infinite horizontal scalability for their applications.” The gaming and entertainment-focused protocol is a “fully decentralized proof-of-stake chain,” the report said.
in post At X, Saga announced that it launched its mainnet early Tuesday. “Saga leverages an innovative combination of shared security, precise validator orchestration tools, and a seamless, automated deployment pipeline to ensure each application operates in a dedicated block space with built-in interoperability,” the company said.
“With the launch of the Saga mainnet, we deliver on our promise to redefine web3 development by enabling creators to deploy blockchains at no cost to end users,” Rebecca Liao, co-founder and CEO of Saga, said in a statement.
Saga’s growth
Binance also stated in the report that “Saga has grown from 0 to 350 projects based on its protocol, 80% of which are games.” “Saga has also partnered with Polygon, Avalanche, MarbleX, Com2uS, and Celestia to automatically scale its infrastructure using chainlets.”
Last month, Saga launched a division focused on game publishing.
The company also said in a statement that Saga has raised a total of $15 million from a long list of investors including Samsung and Polygon.
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