The gaming-centralized Saga network is currently live. Its launch will allow the subsequent addition of staking rewards and additional airdrops.
Saga is a recent layer-1 blockchain platform developed to allow creators to unveil their layer-1 chains. On April 9, it unveiled its mainnet and SAGA token that was initially listed on Binance, a major cryptocurrency exchange.
Binance Users Stake Ahead of Saga Airdrop
The unveiling occurs after a record-breaking Binance Launchpool campaign for SAGA entailed 500,000 Binance clients staking crypto worth $13.4B. The staking happened across the FDUSD stablecoin and Binance Coin (BNB), and clients were to acquire a portion of the 45 million SAGA tokens.
Saga’s chief and co-founder Rebecca Liao told a media outlet that the mainnet’s unveiling occurs in six phases. The ‘protocol chain’ used by app developers to unveil their layer-1 chains and the Saga’ security chain’ that holds the SAGA tokens rolled out on April 9.
The network permits developers to deploy one or several chains and use them simultaneously, with the capability to ignite additional supporting chains as required, similar to including additional cloud servers to drive a Web2 application.
However, other applications and games developed on different chains can be supported. Further, scalability is a significant focus, and a gradual strategy is underway.
Saga Team Eyes Infinitely Scalable System
Liao noted that since developing an infinitely scalable system, they intend to ensure they do not explode it simultaneously. Instead, they plan to ensure stability in each deployment. They also intend to make sure that the system continues handling load in the manner that developers require it to.
Currently, Saga is not entirely a gaming chain. However, that has been its initial focus. Late last year, it used play-to-airdrop events to convey the message. Early this year, it held video game contests and offered SAGA token apps to the leading finishers.
Further, some 80% of testnet initiatives are gaming-associated, and Saga is unveiling its in-house game publisher. Last month, the network conducted an airdrop with the play-to-drop qualifiers decentralized finance (DeFi) stakers on different chains, such as Avalanche and Cosmos.
It extends to the holders of nonfungible projects (NFTs), such as the Bored Ape Yacht Club and CryptoPunks. Despite more than 200,000 unique wallets being eligible, not all wallets are claimed in time.
SAGA Airdrops to Reward Loyalty
According to Liao, the unclaimed SAGA tokens will be rolled into more airdrop opportunities soon as the network seeks to introduce other people into the ecosystem. Like the initial airdrop, ‘loyalty’ will also be the next wave’s theme. This will entail awarding users for engaging with applications and playing a role in the Saga ecosystem.
Liao also noted that plans concerning partners will be introduced soon after the unveiling. The press release relating to the mainnet unveiling reveals how SAGA tokens will be airdropped to ‘several stakeholders’ in the coming months.
Those who stake the SAGA token can anticipate rewards. According to the release, ‘Saga intends to airdrop verified loot boxes of more than 100 of their partner’s tokens to Saga stakers on a steady pace.’
Saga Eyes Scalability Beyond Gaming Space
Despite leading in the gaming angle, Saga has increasingly moved its messaging focus to scalability and how the chain can be utilized to power in-demand applications. It also focuses on the chain’s use in supporting games and applications previously developed on other chains.
Liao said they have witnessed networks like Base and Solana struggle with meme coin-enhanced demand. Hence, the moment for framing is appropriate. Concerning the Saga mainnet, she said that it is the product hitting the market at the most suitable time.