Saga Token Surpasses $13.1 Billion Milestone on Binance

Saga token, designed to facilitate additional chains and support decentralized applications, has actively engaged with the gaming community.

Just days before its listing next week, the forthcoming token for the Saga layer-1 blockchain network has generated considerable interest.

Binance customers have already surpassed the previous benchmark for the highest amount of cryptocurrency staked to obtain SAGA token rewards through the Launchpool campaign platform of the cryptocurrency exchange.

Over $13.1 billion worth of Binance Coin (BNB) and the FDUSD stablecoin has been wagered by Binance users in exchange for a portion of the 45 million SAGA tokens that are being made available via the platform; this represents half of the token’s initial circulating supply.

On Friday, Saga announced via Twitter that the previous $13 billion milestone had been surpassed, and an examination of previous Launchpool campaigns suggests that this may be the case.

Recent Launchpool campaigns for tokens such as ENA and ETHFI have approached the $13 billion threshold; however, based on the value of BNB at the time, Saga seems to have been the initial to surpass that threshold.

In February, an additional gaming token, Portal (PORTAL), established an all-time high of $8.6 billion on the Binance Launchpool. However, due to the increasing value of BNB, each subsequent token issuance has significantly exceeded that total.

In anticipation of the April 9 listing of the SAGA token on Binance, nearly 370,000 exchange users are staking varying quantities of cryptocurrencies in preparation for the token’s launch.
Layer-1 Saga is a blockchain designed to facilitate the creation of additional chains.

In addition to powering decentralized applications (dapps), multiple of these “chainlets” can be utilized in parallel to provide support for applications that were deployed on other blockchain networks.
Although not limited to gaming exclusively, Saga has actively engaged in the gaming community in anticipation of its mainnet launch this month.

The chain rewarded champions of numerous play-to-airdrop gaming competitions with SAGA token allotments, and approximately 80% of projects developing on the Saga testnet are associated with gaming.

Saga is also introducing Saga Origins, an internal game publishing division.
Because Saga has already distributed SAGA tokens to gamers, DeFi stakes on multiple chains, and proprietors of specific notable NFT projects, why provide Binance customers with such a substantial portion of the initial circulating supply to earn?

Saga Token Distribution Strategy

As the Saga token takes flight, co-founder and CEO Rebecca Liao explains that the objective was to pursue a potentially much larger audience for the chain.

She stated on Friday, “The point about Binance is that it has a very broad retail user base.” “The community airdrop that we had conceived was intended for individuals we were already acquainted with—not only our key technology partners but also the games and early adopters of our ecosystem.”

Despite the intention of attracting a significantly larger audience comprised of SAGA holders, Liao stated that her team is in disbelief over the unprecedented response thus far.
“It’s quite insane,” she remarked. “We had not in the least anticipated this.”