$SAGA - Binance's 51st Launchpool - Blockchain "One for All"
Recently, Binance just announced the Saga project, token $SAGA, as the 51st project in Binance Launchpool.
Through this article, you can get information about the $SAGA token, from there decide whether to farm or not. I will also provide potential for you to make investment decisions
Please read the article
📍1. What is Project Saga?
Saga is an L1 project that allows developers to use Saga's native chain to create blockchains that run parallel to it, also known as "Chainlets".
Chainlets are maintained and secured by Saga's validators through the Interchain Security mechanism
You understand it simply like this:
- Saga is the original chain, developers use the technology of this original chain to create child chains, running in parallel with each other
- The child chain owns the technology and security of the original Saga chain through the Interchain Security mechanism
=> Saga's purpose is to PROVIDE INFINITE HORIZONTAL SPANABILITY FOR BLOCKCHAINS IN THE SAGA ECOSYSTEM
📍2. Saga - The ideal development environment for dApps builders
Because Saga's goal is EXPANDABILITY - a difficult problem, the project always supports devs with everything possible:
- BLOCKSPACE - Dev owns unlimited development space: completely decentralized, low gas, top performance
- THE MULTIVERSE - Dev participates in the scalable and high-connected Web3 system + fast linking capabilities
- UNIQUE END-TO-END DEVELOPER EXPERIENCE - Saga provides full support and expert problem solving from solo devs to large dev teams
📍3. Core team + Capital raising + Commutiny
Comments from the project's main team:
- Publicize identity + information from Founder to dev team
- Experienced from tradfi and transferred to defi + Big hands
- Full departments, from BoD to devs and marketing
Fund raising:
- 2021 - Raised $2 million in capital from Ignite
- 2022 - Raised $6.5m in capital from Hypersphere Ventures, Maven 11 Capital, SamsungNext, ...
- 2023 - Raising capital of $5m led by new leaders Placeholder Ventures, LongHash Ventures,...
Community:
- Very active
📍4. Farm token $SAGA
- Stake $BNB: 36,000,000 $SAGA (80%) for reward pool
- Stake $FUSD: 9,000,000 $SAGA (20%) for reward pool
You have 4 days to farm $SAGA, starting April 5, 2024 (UTC)
In the ecosystem, the $SAGA token is used to pay Subscription fees to operate Chainlet and reward validators.
📍Self assessment:
- The Saga project is a project with a lot of investment for devs => Potential to produce good products
- The goal is to address chain scalability => Have a story for marketing
- Good core team, experienced in the field + Active community + Founder takes the time to maintain and build the community (This is rare)
- Located in Binance Launchpool so the ability to pump is high during bull season
=> You can consider the $SAGA token in the medium term if you want to diversify your portfolio
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Research article written by DCCK Contributor @crypto_Milll
