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Saga Mainnet Launches Alongside Token on Binance—With Extra Airdrops Forward

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Saga, a brand new layer-1 blockchain community designed to let creators launch their very own layer-1 chains, launched its mainnet early Tuesday, alongside its SAGA token that was first listed on main cryptocurrency alternate Binance.

The rollout comes following a record-breaking Binance Launchpool marketing campaign for SAGA, which noticed greater than 500,000 complete Binance clients stake some $13.4 billion price of crypto—throughout Binance Coin (BNB) and the FDUSD stablecoin—to earn a share of 45 million SAGA tokens, or half of the preliminary circulating provide.

Saga co-founder and CEO Rebecca Liao advised Decrypt’s GG that the mainnet launch is occurring in six levels, with the Saga “safety chain” that holds the SAGA tokens and the “protocol chain” that app creators use to launch their very own layer-1 chains rolling out at present.

The community is constructed in order that builders can deploy a number of chains and make the most of them in unison, with the flexibility to fireside up extra supporting chains as wanted—akin to including extra cloud servers to energy a Web2 app. However it could possibly additionally assist video games and apps constructed on different chains. Scalability is the important thing focus, they usually’re taking a gradual method to the launch too.

“As a result of we’re constructing a system that’s arguably infinitely scalable, we wish to guarantee that we do not simply explode it on the market all of sudden,” mentioned Liao. “We wish to guarantee that each single time we deploy a launch that it’s steady, and that the system continues to have the ability to deal with load in the best way that our builders want it to.”

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Saga shouldn’t be completely a gaming chain, however that’s been its early focus. The chain utilized play-to-airdrop occasions to get the phrase out in late 2023 and early this yr, holding online game competitions and giving SAGA token allocations to the highest finishers. Some 80% of testnet tasks are gaming-related, plus Saga is launching its personal in-house recreation writer.

The community held an airdrop declare in March that included the play-to-airdrop qualifiers, but in addition DeFi stakers on varied chains (like Cosmos and Avalanche), in addition to holders of main NFT tasks like CryptoPunks and the Bored Ape Yacht Membership. Greater than 200,000 distinctive wallets have been eligible, however not each pockets claimed in time—they usually’re out of luck now.

However these unclaimed SAGA tokens can be rolled into extra airdrop alternatives within the close to future, Liao defined, because the community goals to deliver extra individuals into the ecosystem. Like the primary airdrop spherical, the theme of the subsequent wave will once more be “loyalty,” Liao mentioned, rewarding customers for contributing to the Saga ecosystem and interesting with apps.

She added that plans surrounding companions can be unveiled shortly after launch, and the press launch across the mainnet debut notes that SAGA tokens can be airdropped to “varied stakeholders” within the months forward. Moreover, individuals who stake the SAGA token can count on rewards, as the discharge notes that, “Concurrently, Saga will airdrop confirmed loot packing containers of over 100 of their associate’s tokens to Saga stakers on an everyday cadence.”

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Whereas Saga led with the gaming angle, it has more and more shifted its messaging focus to scalability and the way the chain can be utilized to energy in-demand apps, in addition to to assist apps and video games initially constructed on different chains.

As we’ve seen networks like Solana and Base wrestle with meme coin-driven demand in current weeks, Liao thinks the second is true for that framing.

“It is actually simply the product hitting the market on the proper time,” she mentioned of Saga mainnet.

Edited by Stacy Elliott.

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