Binance, the world’s leading cryptocurrency exchange, is rolling out support for new layer 1 cryptocurrency projects through its Launchpool platform.
Binance Launchpool, which allows users to stake coins and farm new assets, says its 51st project will be Saga (SAGA), a Web3 platform designed for developers.
Saga aims to enable developers to launch interoperable application-specific chains called “Chainlets.”
Describing the project website:
“We are building this by redesigning how developers and end users interact with blockchain. Saga uses shared security, innovations in validator orchestration, and automated deployment pipelines. and make launching a dedicated blockchain (Chainlet) as easy as deploying a smart contract.”
From April 5th to April 9th, Binance users will be able to farm SAGA tokens by staking BNB and stablecoin First Digital USD (FDUSD) into separate pools. The exchange will then list the asset on April 9th.
Launchpool provides: 45,000,000 SAGA as token reward, 4.5% of the maximum supply of the asset.
Binance plans to add a seed tag to SAGA, which the exchange will apply to illiquid projects with higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass a quiz every 90 days to ensure they are aware of the risks before trading their tokens.
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