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

What is SAGA Crypto? In Latest Binance Launchpool Listing, new Saga coin (SAGA) has listed as the 51st Launchpool project, find out more here

By Dalmas Ngetich

Last Updated: Apr 5, 2024

What is SAGA Crypto? In Latest Binance Launchpool Listing, new token Saga (SAGA) has listed as the 51st Launchpool project, find out more here

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 said users 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.

What is SAGA Crypto? Here’s The Binance Launchpool Details

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. 

Binance, undoubtedly the largest exchange by client count and trading volume, has listed Saga (SAGA) as the 51st Launchpool project

(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.

Why SAGA Went The Binance Launchpool Route

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

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

What is SAGA Crypto? In Latest Binance Launchpool Listing, new token Saga (SAGA) has listed as the 51st Launchpool project, find out more here

There are multiple benefits to this:

  • First, think of Launchpool participants as early adopters. It allows supporters to get in on new projects, like Saga, by staking their existing BNB or FUSD stablecoin holdings. By staking, they farm SAGA. What’s cool about this is that users don’t have to trade. They simply lock their BNB or FUSD, and accumulate new tokens.
  • Second, since Binance is a reputable exchange, the platform offers a secure way to participate. Unlike other crowdfunding means, like ICOs or IDOs, where developers can steal from users, the Launchpool offers a secure portal, reducing risks. Before listing the project, Binance does its due diligence, thoroughly checking all parameters and ensuring 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 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: Here’s 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.

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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.
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Dalmas Ngetich
Dalmas Ngetich
Crypto Journalist

Dalmas is an experienced journalist with over a decade in crypto, technology, and blockchain. His work and that of his partners have been featured in top news outlets, including Forbes, investing.com, and Entrepreneur, among others. He is passionate about crypto... Read More

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