What are the highlights of Binance’s latest Launchpool project Saga?

Source: Binance

Saga is a Layer 1 that allows developers to develop feasible, interoperable private chains - "Chainlets" that are suitable for different virtual machines, providing unlimited possibilities for applications. Scalability.

$SAGA is the native utility token of the Saga protocol and is used for the following functions:

• Payment for Chainlets: Developers pay network validators $SAGA tokens for instantiation and keep their Chainlets alive.
• Staking: Stakeholders help secure the network and receive $SAGA tokens and tokens from projects built on the Saga protocol as rewards.
• Governance: $SAGA token holders will be able to vote on network governance decisions.

The Saga protocol is a fully decentralized proof-of-stake chain. Each chainlet has the same validator set and security model as the Saga mainnet.

Each Chainlet has the following features:

• Unlimited horizontal scalability: All Chainlets are parallelized application chain instances, allowing applications to elastically scale to their peak performance and speed.
• Low-cost transactions and low and predictable chain fees: developers can choose any monetization model they like, including their own token (or no token at all), fiat currencies, stablecoins, Or even a token from another ecosystem. All Chainlet fees are determined by daily reverse auctions between validators, encouraging commodity pricing for block space.
• Automation: Developers can create a Chainlet by simply clicking a button in Saga WebApp.
• Interoperability and fast bridging: Users can freely and quickly transfer assets between Chainlets and Saga and other ecosystems using automatic interoperability and asynchronous composability. Since each Chainlet provides fast transaction finality, users can also take advantage of fast bridging to other chains.
• Fully Flexible Stack: Developers enjoy their own private chain, allowing for optimal flexibility and customizability of the environment.

Saga has raised $15 million to date. Investors include Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment and Chorus One.

As of April 4, 2024, the initial supply of $SAGA is 1,000,000,000. The total circulating supply at the time of TGE is approximately 90,000,000 (9% of the total initial supply of the token).

Key Indicators

Token Distribution

1. What is Saga?

Saga is a Layer 1 protocol that allows developers to automatically launch parallel, interoperable private chains - "Chainlets" suitable for different virtual machines, providing unlimited scalability for applications.

Saga allows developers to launch Chainlets with the click of a button through shared security, cutting-edge validator orchestration, and automated CI/CD deployment pipelines standardized across any type of blockchain virtual machine.

In less than 2 years, the Saga ecosystem has grown to 350 projects based on its protocol, 80% of which are games. Saga also has partnerships with Polygon, Avalanche, MarbleX, Com2uS, and Celestia to automatically scale their infrastructure using Chainlets.

1.1 Project Mission

Saga’s mission is to make the next 1000 chain stores in gaming and entertainment a part of the growing Saga Multiverse.

1.2 Value Proposition

Mass adoption of blockchain is imminent, and developers require infinitely scalable, interoperable, and cost-effective underlying infrastructure to support consumer applications.

Saga allows developers to launch dedicated block spaces on demand. These block spaces can be elastically expanded according to performance needs, open fast bridges to other ecosystems, and priced at commodity prices. Saga provides developers with the best service in the area. E2E infrastructure required to build next-generation applications on the blockchain.

1.3 Project Highlights

All Saga-based projects are part of the Saga Innovator Program, which includes 350 projects as of April 1, 2024. 80% of these projects are games. About 10% of the projects are NFTs and entertainment, and 10% are DeFi. The complete list of innovators can be found here.

Saga has also entered into partnerships with the following Layer 1 protocols to scale their infrastructure using Chainlets:

• Polygon: Saga will automate the Polygon CDK chain
• Avalanche: Saga will automate the Avalanche subnet
• Celestia: Saga will automate decentralized aggregation with Celestia DA
• MarbleX: Saga will provide scaling infrastructure for the MarbleX chain
• Com2uS: Saga will provide scaling infrastructure for the Com2uS chain

In March 2024, Saga launched Saga Origins, a new game publishing division dedicated to bringing cutting-edge, high-quality The game is brought to market.

Saga is a web3 chain that has established a dedicated game publishing department for developers to collaborate on publishing their projects.

Saga Origins is committed to providing a full-service, collaborative approach to bringing games to the global mass market. Traditionally, developers only receive funding when they build and publish their games, but Saga Origins offers additional beneficial support, including working with influencers to increase awareness, sponsored user acquisition events, community building, and promotional support.

Through its ongoing Play-to-Airdrop campaign, Saga, game studios and guilds have all joined forces to organize tournaments where players are rewarded with the highly coveted $SAGA token for participating. Most recently in January, Saga completed a revolutionary Three Kingdoms airdrop with participating partners Avalanche, Polygon, and Solana.

Saga Pegasus Incentivized Testnet was released in Q4 2023 and produced the following results:

Saga Main Network, the first phase will include the Saga security chain and platform chain. The Saga security chain and the platform chain will jointly form the Saga main network.

• Security chain Security chain - The first of many security sources for the Saga protocol
• Platform chain - The destination for developers to launch and maintain their Chainlets
• Chainlet - The area where all applications reside and end-user activity occurs. The first Chainlet stack will be an EVM-based Chainlet to support the large Solidity and Ethereum ecosystem, but aims to be VM agnostic, allowing developers to deploy in any environment they like

1.4 Existing Products

The Saga protocol is a fully decentralized proof-of-stake chain. Each chainlet is a copy of the Saga mainnet, with the same validator set and security model.

Each Chainlet has the following features:

• Unlimited horizontal scalability: All Chainlets are parallelized application chain instances, allowing applications to elastically scale to their peak performance and speed.
• No-cost transactions and low and predictable chain fees: developers can choose any monetization model they like, including their own token (or no token at all), fiat currencies, stablecoins, Or even a token from another ecosystem. All Chainlet fees are determined by daily reverse auctions between validators, encouraging commodity pricing for block space.
• Automation: Developers can create a Chainlet by simply clicking a button in Saga WebApp.
• Interoperability and fast bridging: Users can freely and quickly transfer assets between Chainlets and Saga and other ecosystems using automatic interoperability and asynchronous composability. Since each Chainlet provides fast transaction finality, users can also take advantage of fast bridging to other chains.
• Fully Flexible Stack: Developers enjoy their own private chain, allowing for optimal flexibility and customizability of the environment.

Saga Chainlet Realm is a way to automate the block space outside of the Chainlet stack through the Saga protocol. Saga Realms enables developers to launch customizable chains on Saga with different features and services, such as technology stacks, secure origins, and various obligations for those origins. Under the framework of Realms, the standard Saga Chainlet becomes one of many Realms that will be supported in the near future, including Saga's partners in Ethlets, Polygon, Avalanche, Celestia, XPLA and others. and all other Realm joins required for the following architectural components.

1.5 Technical Details

Saga uses shared security to automatically instantiate a fully decentralized proof-of-stake chain. Each Saga Chainlet is secured using shared security by Saga mainnet validators.

Saga Shared Security is similar to Eigenlayer staking in that one staked asset is reused to secure multiple chains. Chainlet can be configured to use various virtual machines (i.e. EVM, SolanaVM, MoveVM). Each Chainlet has a dedicated VM that is deployed on a single chain. EVM is the first VM supported by Saga Chainlets. Saga enables developers to manually "shard" various workflows into multiple Chainlets to facilitate horizontal scaling. Since all Chainlets communicate with each other, developers can have multiple chains supporting the same application, allowing for unlimited horizontal scalability.

2. Token economic model

2.1 Token distribution

2.2 Token issuance schedule

Note: Ecosystem and Development Fund and Foundation Reserve will continue to be unlocked after April 2031. Approximately 6.1% of the total initial supply is reserved for potential future fundraising events.

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