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Gaming-focused Blockchain Protocol Saga Ready for Mainnet Launch
Gaming-focused layer-1 blockchain Saga Protocol has garnered significant attention with its recent airdrop campaign, resulting in a groundbreaking $13.4 billion staked on Binance in preparation to earn SAGA token rewards upon the token’s imminent launch.
Set to launch its mainnet and unveil the SAGA token on Tuesday, April 9, Saga distinguishes itself from Solana’s Saga smartphone and gaming giant Sega. Saga operates as a “layer-1 to launch layer-1s,” as explained by CEO and co-founder Rebecca Liao. Instead of launching directly on the mainnet, developers will utilize Saga to launch their own chain, also known as a chainlet, or a series of chains. These chainlets can function in parallel to power decentralized applications (dapps) or support apps on different chainlets within the Saga network. This innovative approach called horizontal scaling enables projects to expand infinitely.
Currently, there are over 350 projects, termed as “innovators” by Saga, actively developing within the ecosystem. While Saga is not exclusively dedicated to gaming, a vast majority of projects on the network are game-related, with approximately 80% of projects on the testnet falling into the gaming category.
The SAGA Token: Tokenomics and Functionality
Concurrently with the mainnet launch, the SAGA token is set to debut on April 9 and will be listed on Binance from day one. Following the milestone of surpassing the $13 billion mark in the Launchpool campaign last Friday, Saga has piqued significant interest within the crypto community. Launchpool promotions on Binance offer upcoming tokens to users who stake cryptocurrencies such as Binance Coin (BNB) and the FDUSD stablecoin.
Deviating from traditional transaction fee models prevalent in the crypto space, Saga charges developers with the fee responsibility, which is payable using the SAGA token. Developers are required to submit a deposit of SAGA tokens in exchange for computing power. As the deposit decreases, developers must devise strategies to procure additional computing power. They have the option to impose a fee on users for each transaction or explore alternative revenue models like subscriptions, advertisements, or freemium structures.
With an initial circulating supply of 90 million tokens, half of which were distributed to over 500,000 Launchpool participants who staked their coins, SAGA token distribution reflects a strategic approach to incentivize and engage users in the Saga ecosystem.
Play-to-Airdrop Campaign: Driving Gamer Participation
In December, Saga initiated the “play-to-airdrop” competition campaign aimed at incentivizing gamers to engage with projects on the Saga testnet. The competition, though initially themed around Christmas, extended into the early months of 2024. Highlighting a variety of games on the testnet like the action RPG Rogue Nation, the fantasy-driven Generative Dungeon, and the location-based game Vennity, Saga rewarded gamers who ranked highest on each game’s leaderboard with SAGA tokens.
Geographical limitations were in place, restricting certain regions, including the United States, from claiming the airdrop. Saga released an eligibility guide outlining the criteria for airdrop claimants before the deadline in late March.
Furthermore, Saga showcased games from other chains, such as the Avalanche-based shooter Shrapnel, in play-to-airdrop competitions to broaden user engagement and adoption.
Saga Origins: Pioneering Game Publishing on Layer-1
Concluding the airdrop campaign in March, Saga announced the inauguration of Saga Origins, a game publishing division committed to offering a comprehensive and collaborative approach to game market entry. Despite no game announcements to date, Saga Origins pledges to provide services encompassing user acquisition, community development, and promotional endeavors.
Positioning itself as the “first and only layer-1 Web3 game publisher,” Saga Origins signifies a strategic move by Saga to bolster developers and amplify user engagement within the gaming ecosystem. With ambitions to direct users to games rather than placing the onus solely on developers, Saga Origins heralds a new era in game publishing on the Web3 landscape.
Conclusion
As the Saga mainnet gears up for launch on Tuesday, April 9, accompanied by a pioneering token release, the platform’s vision for horizontal scaling and diverse gaming ecosystem comes to fruition. With Binance listing, innovative fee structures, play-to-airdrop campaigns, and an avant-garde publishing division, Saga is poised to spearhead Web3 gaming into mainstream adoption. The unfolding saga beckons the crypto community to witness the dawn of a new era in blockchain gaming.
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