Saga Protocol, a gaming-focused layer 1 blockchain, has gained notoriety through its airdrop campaign in recent months. This resulted in record-breaking numbers. $13.4 billion equity investment in Binance Earn SAGA Token Rewards When the token is released… As of this writing, there is less than a day left.
Not to be confused with Solana’s Saga smartphone (or gaming giant Sega). death is scheduled to Mainnet launch and SAGA tokens Tuesday, April 9.
With all this hype, it’s easy to miss the details of how it all works. But don’t worry. From here detoxification GG We have been watching carefully and reading the lore and now we know everything that will soon happen in this upcoming story.
What is Saga?
Saga says “Start Layer 1 by running Layer 1.“, Saga CEO and Co-Founder Rebecca Liao Explained in a Twitter (aka X) video. “There is no direct launch of any saga on the mainnet.”
Instead, developers use Saga to launch their own chains (called chainlets) or sets of chains. These chainlets can be used in parallel to run decentralized apps (dapp) or support your app on another chainlet within the Saga network. This is called horizontal scaling, and Liao claims it means the project can “scale indefinitely.”
Is currently 350+ projects-or “innovator“ As Saga said, we build on the ecosystem. Saga is not technically a gaming-only network, but most of the projects built on the network are gaming-related in some way, and about 80% of the projects on the testnet are gaming-related. .
Announcing the final cohort of Saga Innovators ahead of mainnet launch.
More than 350 projects have now participated in the Saga Innovator program!
Special thanks to all the builders who participated with us on this journey: https://t.co/DrcpxQ2Lv8 pic.twitter.com/Jr9QxfnY7w
— Saga ⛋ (@Sagaxyz__) April 5, 2024
What are SAGA tokens?
Along with the mainnet launch, SAGA tokens are scheduled to be launched on April 9th. Listed on Binance on the first day.
This comes after Saga declared last Friday that the project’s Launchpool campaign had surpassed $13 billion. The Binance Launchpool promotion offers upcoming tokens to customers staking other cryptocurrencies, in this case Binance Coin (BNB) and the FDUSD stablecoin.
decryptionOur own analysis of past Launchpool campaigns shows that Saga was the first project to break the $13 billion barrier, with ENA and ETHFI getting closer. The token has been a great incentive to get people interested in the project and turn them into “Saganauts”, but there is a real purpose behind SAGA.
Anyone who has ever used cryptocurrency understands the pain of transaction fees. At Saga Lightpaper, the current model is likened to someone taking an Uber and paying Amazon to host the Uber app. This doesn’t make sense. Therefore, Saga imposes a fee burden on developers, which is paid using SAGA tokens.
Developers must pay a SAGA token deposit in exchange for computing power, and as the deposit decreases, developers must think of ways to finance more computing power. You can choose to have users pay a fee for each transaction, or explore alternative options such as subscription, ad-based, or freemium models.
SAGA will have an initial circulating supply of 90 million tokens (or 9% of the total supply), half of which were ultimately given to over 500,000 Launchpool participants who staked their coins.
How did the Play to Airdrop work?
The saga began in December. “Play-Airdrop” Competition A campaign to encourage gamers to try out the project on the Saga testnet. It was like that at the time. Christmas holiday themed However, the campaign ran until early 2024 without a festival.
Saga highlighted a variety of games on testnet, such as action role-playing games. rogue statefantasy theme creation dungeonand location games like Pokémon Go. vanity. The gamers who topped the leaderboard for each game at the end of the competition were: Reward with SAGA tokens.
However, it’s worth noting that this may vary depending on your location, as some regions of the world, including the United States, were unable to claim the airdrop. Released by Saga. Qualification Guide It details who can and cannot claim the airdrop before it closes at the end of March.
Most of the games featured in this campaign were on the Saga test network, but some games were on other chains, including: avalanchebased shooter shrapnel—Saga has also appeared in a Play-Airdrop contest aimed at attracting more users.
What is Saga Origins?
As the airdrop campaign ended in March, Saga announced a game publishing division called Saga Origins.
Despite no games being announced, the publishing arm promises to provide a “full service and collaborative approach” to bring games to market. This includes user acquisition, community building, and promotional activities.
Saga Origins claims to be “the first and only layer 1 Web3 game publisher”, although there have been layer 2 publishers (see: immutability In ~ Ethereum).
“Saga Origins is our love letter to developers making games on Web3,” Liao said in the release. “The responsibility for bringing users to a platform often falls on the game developer, but we want to break that convention and instead use the platform to bring users to the game.”
The Saga mainnet goes live on Tuesday April 9th with a record-breaking token boot. The team has infinitely bigger plans for the Layer 1 network to be able to launch Layer 1 in the future. But will Binance’s hype, horizontal expansion, and publishing arm be enough to bring Web3 games into the mainstream? The story begins on Tuesday.
Editor: Andrew Hayward
