Saga Gaming Token Launch Set as Binance Users Stake $3.9 Billion for Rewards

The arrival of the Saga mainnet seems imminent,and the SAGA token itself has a list date. That’s due to huge crypto alternate Binance, which introduced a Binance Launchpool program to reward prospects with SAGA tokens for staking different cash—and half of the preliminary circulating provide will probably be provided up by means of the promo.

Binance will record the SAGA token on April 9, and up till that time, Binance prospects can stake Binance Coin (BNB) or the FDUSD stablecoin into rewards swimming pools through the Launchpool web site to earn a share of tokens upon launch.

SAGA may have an preliminary circulating provide of 90 million tokens (or 9% of the whole provide), and half of that’s being provided to Launchpool stakers. For the reason that launch late Wednesday, prospects have already staked almost $3.8 billion value of funds between the 2 cash, with 109,000 customers staking BNB and about 82,000 customers staking FDUSD.

The Saga Community is billed as a layer-1 blockchain that may be used to launch different chains due to its “chainlets” structure. This enables tasks to make the most of a number of chainlets in unison to energy a single utility or for tasks constructed on different blockchains to faucet into Saga to assist assist their decentralized apps (dapps).

Saga has emerged to date primarily as a gaming community, with about 80% of testnet tasks falling into that class, although it’s not completely designed for the use case.

Nevertheless, Saga could be very a lot leaning into that vibe. Saga held quite a few play-to-airdrop tournaments and competitions throughout numerous video games from December by means of February, with profitable gamers incomes an allocation of the token airdrop. Saga additionally teamed with video games on chains like Solana and Avalanche for related occasions.

The Saga airdrop declare passed off in March and just lately ended, with greater than 200,000 complete wallets eligible to earn tokens. This included play-to-airdrop winners, DeFi stakers on chains like Cosmos and Polygon, and house owners of outstanding NFTs like CryptoPunks and the Bored Ape Yacht Membership.

The precise token will probably be reside on April 9, and Binance stated that will probably be the primary alternate to record the token. Saga just lately introduced that its mainnet will launch in April, and that it’s going to additionally launch an in-house sport publishing division referred to as Saga Origins.

Binance Launchpool has already launched two different outstanding gaming token campaigns up to now in 2024—the 2 largest gaming token launches this 12 months, in reality, based mostly on the height market cap for every coin. Pixels (PIXEL) and Portal (PORTAL) each debuted through the platform, with Portal drawing a report $8.6 billion value of staked crypto through Launchpool.

Residents of many international locations—together with america, Canada, Japan, and Australia—are ineligible for incomes rewards on Binance Launchpool. The Launchpool announcement for Saga offers a full record of nations.

Edited by Ryan Ozawa.