The latest Binance Launchpool listing lists a new token called Saga (SAGA), making it the 51st Binance Launchpool project. In this article, we will explain in detail “What is the SAGA cipher?” And we will explore the possibilities of SAGA coin.
Binance, arguably the largest exchange by number of customers and trading volume, has revealed that it will list Saga as its 51st launch pool project.
IIn an April 4 announcement, the exchange Said Users can start staking BNB and FDUSD stablecoins through dedicated pools. BStaking will “farm” SAGA tokens from April 5th to 9th.
So far, the launch pool has been a huge success, with over $2 billion of assets staked in the dedicated SAGA pool.
What is SAGA Crypto? Click here to learn more about Binance Launchpool
SAGA Coin serves as the governance token for the Saga ecosystem, allowing holders to stake and receive rewards through a new governance staking mechanism.
In the ongoing launch pool, 45 million SAGA has been allocated to agriculture. Notably, 36 million SAGA will be distributed from his BNB pool.
At the same time, 9 million will be released from the FUSD pool to users.
(Lunch pool)
Individuals can receive up to 37,500 SAGA in the BNB pool and up to 9,375 SAGA in the FDUSD pool.So far, around 300,000 users are actively staking BNB and FUSD tokens.
The total supply will be 1 billion SAGA. Binance plans to list SAGA in a major event on April 9th at around 14:00 UTC.
The token will be launched in five trading pairs: SAGA/BTC, SAGA/USDT, SAGA/BNB, SAGA/FDUSD, and SAGA/TRY.
The initial supply amount is 90 million SAGA, equivalent to 9% of the total supply amount at the time of listing.
Why SAGA chose the Binance Launchpool route
As the name suggests, in the case of Binance, a launch pool is a launching pad for tokens. However, this is clearly designed for projects to benefit from the exchange's vast retail investor base.
In fact, many projects have benefited from significant listings via Binance Launchpool, including SUI, SEI, PENDLE, BEAMX, and ENA.
This has multiple benefits.
- First, think of Launchpool participants as early adopters. This will allow supporters to participate in new projects like Saga by staking their existing BNB or FUSD stablecoin holdings. By betting, they feed SAGA. The great thing about this is that users don't have to trade. They simply lock their BNB or FUSD and accumulate new tokens.
- Secondly, since Binance is a reputable exchange, the platform offers a safe way to participate. Unlike other crowdfunding vehicles, such as ICOs and IDOs, where developers can steal from users, Launchpool provides a secure portal and reduces risk. Before listing a project, Binance conducts due diligence, thoroughly checking all parameters and ensuring that developers comply with its strict selection criteria.
But why is Saga Crypto attracting so much attention from investors?
Saga is a mainnet platform created explicitly for developers, similar to Ethereum and Solana.
The goal is to empower these important contributors and enable them to build infinitely scalable applications using “chainlets.” SAGA acts as a medium of exchange. Developers use SAGA to reward validators who maintain their chainlets.
Notably, Saga Coin plans to remove the high upfront costs and complexity of blockchains like Ethereum, making it easier for developers to focus on creating innovative applications.
Prior to its official exchange listing, Saga partnered with major companies such as Polygon, Avalanche, Celestia, Marble, and Com2uS.
Saga Coin is initially targeted at the gaming and entertainment industry, but plans to serve decentralized finance (DeFi) by enabling a whole new class of applications.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
