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Saga Token Surpasses $13 Billion Staked Before Listing on Binance
Interest in the upcoming token for the Saga layer-1 blockchain network is at an all-time high, with Binance customers breaking records for cryptocurrency staked to earn SAGA token rewards through the exchange’s Launchpool campaign platform.
Binance users have staked over $13.1 billion worth of Binance Coin (BNB) and the FDUSD stablecoin to earn a share of the 45 million SAGA tokens offered through the platform, representing half of the token’s initial circulating supply.
Saga acknowledged the significance of crossing the $13 billion mark, which was shared on Twitter and confirmed through Decrypt’s analysis of past Launchpool campaigns. Previous campaigns for tokens like ENA and ETHFI came close to this milestone, but Saga appears to be the first to surpass it based on the value of BNB at the time.
Portal (PORTAL), a gaming token, previously held the record with $8.6 billion staked on Binance Launchpool in February. However, the increasing price of BNB has propelled every token launch since then to surpass that figure.
With over 370,000 users staking various cryptocurrencies ahead of the token’s listing on April 9, Saga’s innovative approach to blockchain technology and gaming has attracted a diverse and engaged community eager to participate in its ecosystem.
Saga’s Unique Approach
Saga is a layer-1 blockchain designed as a dynamic platform for decentralized applications (dapps) and gaming experiences. With the capacity to launch multiple “chainlets,” Saga enables parallel blockchain operations that enhance the user experience and foster innovation in the gaming sector.
Leading up to its mainnet launch, Saga has hosted play-to-airdrop gaming competitions, distributing SAGA tokens to winners and engaging with a gaming-focused audience. Approximately 80% of projects on the Saga testnet are gaming-related, reflecting the platform’s commitment to this vibrant community.
Additionally, Saga is set to launch Saga Origins, an in-house game publisher that will further expand its gaming offerings and provide a platform for developers to showcase their creations.
Community Engagement and Growth
Despite already distributing SAGA tokens to gamers, DeFi stakers, and NFT holders, Saga’s decision to allocate a significant portion of its initial circulating supply to Binance customers underscores its commitment to broadening its user base and fostering community-driven growth.
Rebecca Liao, co-founder and CEO of Saga, emphasized the importance of engaging with a diverse audience through Binance’s retail user base, stating, “The community airdrop we designed was tailored to our key technology partners and early ecosystem contributors, but the overwhelming response from Binance users has exceeded our expectations.”
As the SAGA token prepares for listing on Binance, the unprecedented level of stakeholder engagement and enthusiasm serves as a testament to Saga’s innovative vision and the profound impact it aims to have on the blockchain and gaming industries.
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