Cloud Hosting

In the latest Binance Launchpool listing, a new token called Saga (SAGA) has listed marking the 51st Binance Launchpool project. In this article, deep-dive and find out What is SAGA crypto? and explore SAGA coin possibilities.

Binance, undoubtedly the largest exchange by client count and trading volume, has revealed the listing of Saga as the 51st Launchpool project.

In an announcement on April 4, the exchange saidusers could begin staking BNB and FDUSD stablecoin via dedicated pools. By staking, they farm SAGA tokens from April 5 to 9.

So far, the launchpool has been a tremendous success with over $2Bn in assets staked in dedicated SAGA pools.

SAGA coin serves as a governance token for the Saga ecosystem, through a novel governance staking mechanism, holders are able to stake and receive rewards.

In the ongoing Launchpool, 45 million SAGA has been allocated for farming. Of note, 36 million SAGA will be distributed from the BNB pool.

At the same time, 9 million will be released to users from the FUSD pool.

(Launchpool)

An individual can receive a maximum of 37,500 SAGA in the BNB pool and 9,375 SAGA in the FDUSD pool so far, roughly 300,000 users are actively staking their BNB and FUSD tokens.

In total, there will be a total supply of 1 billion SAGA and Binance plans to list SAGA on April 9, at approximately 14:00 UTC in a major event.

The token will launch with five trading pairs: SAGA/BTC, SAGA/USDT, SAGA/BNB, SAGA/FDUSD, and SAGA/TRY.

The initial supply will be 90 million SAGA, or 9% of the total supply on listing.

As the name suggests, a launch pool is a token launch pad in Binances case. However, this is explicitly designed so that projects benefit from the exchanges immense retail investor base.

Indeed, many projects have benefited from supercharged listings via Binance Launchpool including SUI, SEI, PENDLE, BEAMX, and ENA.

There are multiple benefits to this:

Saga is a mainnet platform created explicitly for developers similar to Ethereum or Solana.

The goal is to empower these crucial contributors, allowing them to build infinitely scalable applications using Chainlets. SAGA will serve as a medium of exchange. Developers compensate Validators who maintain Chainlets using SAGA.

Of note, Saga coin plans to remove the high upfront costs and complexities of blockchains like Ethereum, making it easier for developers to focus on creating innovative applications.

Ahead of the official exchange listing, Saga has partnered with key players such as Polygon, Avalanche, Celestia, Marble, and Com2uS.

While Saga coin initially targets the gaming and entertainment industries, it plans to serve decentralized finance (DeFi) by enabling entirely new classes of applications.

EXPLORE: Liquid Bootstrapping Pools: Heres Why LBPs Are Best Way to WAGMI Via Presales

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

View original post here:

What Is Saga Crypto? Top Exchange Binance Reveal 51st Launchpool Project - Over $2Bn Staked - 99Bitcoins