The blockchain project Saga Protocol has attracted the attention of the cryptocurrency community with its unique airdrop campaign, which focuses on the gaming sector. With the SAGA token about to go live, people are eagerly awaiting it, with a record-breaking $13.4 billion in token rewards locked on Binance.
As we previously reported, Saga plans to launch its mainnet and release SAGA tokens on Tuesday, April 9, which will have an impact in the blockchain space.
How SAGA works
Described by CEO and co-founder Rebecca Liao as “a first layer for launching other blockchains,” Saga (unlike the Solana Saga phone) enables developers to launch their own blockchains, called “shards,” or a series of shards. These shards can work together to provide support for decentralized applications (Dapps), or to support applications on other shards within the Saga network. This approach is called horizontal scaling and allows for unlimited scalability.
The Saga ecosystem is vibrant, hosting more than 350 projects or “innovators,” a large portion of which are game-related. Although Saga is not a pure gaming network, about 80% of projects on the testnet are game-related.
The SAGA token will debut on April 9, coinciding with the mainnet launch, and will be immediately listed for trading on Binance. Saga’s Launchpool event broke the $13 billion mark, indicating anticipation for the event. Binance’s Launchpool promotions are known for offering tokens of upcoming projects to customers who stake other cryptocurrencies such as Binance Coin (BNB) and the FDUSD stablecoin.
Binance will list the SAGA token on the first day.
https://t.co/TCfvqW2O0W
— Saga ⛋ (@Sagaxyz__)
April 4, 2024
Saga is the first project to break the $13 billion milestone, surpassing competitors such as ENA and ETHFI. The SAGA token has successfully attracted people's interest in the project, formed a community of "Saganauts", and played a practical role. It aims to alleviate the pain point of cryptocurrency transaction fees by allowing developers to bear the cost of computing power and pay transaction fees in SAGA tokens.
Airdrop Event
The airdrop event began in December last year and continued until early 2024. It was originally themed around Christmas and became one of the highlights of the Saga promotion.
Over $13.4 billion pledged
More than 505,000 participants
The largest Binance Launchpool in history just ended
Real-time information in the Saga Battle Room
pic.twitter.com/6hSUgCKacr
— Saga ⛋ (@Sagaxyz__)
April 9, 2024
The campaign ended in March, with more than 200,000 wallets eligible for token rewards. This diverse group of beneficiaries includes players who won airdrop rewards, DeFi stakers on networks such as Cosmos and Polygon, and owners of well-known NFTs such as Bored Ape Yacht Club and CryptoPunks.
The event involved games such as Rogue Nation, Generative Dungeon and Vennity on the Saga testnet, rewarding top-ranked players with SAGA tokens. However, the airdrop event is geographically restricted, and Saga provides a guide to determine eligibility.
The event also included other on-chain games, such as the Avalanche-based shooter Shrapnel, which Saga hopes to expand its user base.
Saga has further expanded its ecosystem by introducing a game publishing division, Saga Origins. Although no games have been announced yet, Saga Origins aims to provide comprehensive support to game developers, including user acquisition, community building, and promotion efforts. Liao described Saga Origins as a supportive gesture for Web3 game developers and emphasized the role of this division in attracting users to games.
With the upcoming launch of the mainnet and SAGA token, Saga is preparing for a major milestone. The team's ambitious plans to launch the first layer of the future network, coupled with the focus on Binance, horizontal expansion, and the newly established publishing department, bring an exciting chapter to the Web3 gaming space. Saga's story is about to unfold, promising to bring new developments in the blockchain gaming space.
Uncovering Slothana: A New Memecoin Phenomenon
One of the characteristics of this latest crypto bull run, as far as the broader cryptocurrency market is concerned, is that tokens that appear to have no real utility sometimes experience explosive growth in a very short period of time. The emergence of these tokens suggests that the market has entered the realm of "degens." A prime example of this trend is Slothana, a project that embodies this new wave of speculative assets.
Slothana takes inspiration from Slerf, a meme coin that gained widespread attention when its developers removed all SLERF tokens from the liquidity pool. The project is succinct in its communications and avoids discussing practicality or long-term prospects. Instead, it embraces the philosophy of simplicity, fun, memes, and the pursuit of profit.
Slothana’s mascot is a lifelike sloth that embodies the spirit of the project. In a verdant office, the sloth has red eyes, a contented smile, and a happy expression, symbolizing its addiction to marijuana and its desire to escape the traditional 9-to-5 job and plunge into the world of memecoins.
This directness reflects a transparent recognition of the risks of this asset. Detailed information on the token economics is hard to come by, as the exact number of tokens in circulation is unknown. However, the ongoing presale has generated a lot of interest and managed to raise over $750,000 in just two days. Those who are interested in the mystery of Slothana and wish to explore this speculative project may consider participating in this investment opportunity.
Those interested in joining the Slothana journey may consider purchasing Slothana Tokens.
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