Original author: Binance
Original Article: Binance
An L1 to help developers quickly launch private chain Chainlets. Apr 4th, 2024
- Saga is a Layer 1 that allows developers to develop "Chainlets" that are parallel, interoperable, and private blockchains for different virtual machines, providing unlimited scalability for applications.
- $SAGA is the native utility token of the Saga protocol and is used for the following functions:
- Payments for Chainlets: Developers pay $SAGA tokens to network validators to instantiate and keep their Chainlets alive.
- Staking: Stakers help secure the network and receive $SAGA tokens and tokens from projects built on the Saga protocol as rewards.
- Governance: $SAGA token holders will be able to vote on network governance decisions.
- The Saga protocol is a fully decentralized proof-of-stake chain. Each chainlet has the same validator set and security model as the Saga mainnet.
- Each chainlet has the following features:
- Unlimited horizontal scalability: All chainlets are parallelized applicationchain instances, allowing applications to elastically scale to their peak performance and speed.
- Low-cost transactions and low and predictable chain fees: Developers can choose any monetization model they like, including their own token (or no token at all), fiat currency, stablecoin, or even another ecosystem's token. All chainlet fees are determined by daily reverse auctions between validators, encouraging commodity pricing in the block space.
- Automation: Developers can set up a chainlet with the click of a button in the Saga WebApp.
- Interoperability and fast bridging: Users can use automatic interoperability and asynchronous composability to transfer assets freely and quickly between Chainlets and Saga and other ecosystems. Since each chainlet offers fast transaction finality, users can also take advantage of fast bridging to other chains.
- Fully flexible stack: Developers enjoy their own dedicated chain, allowing for optimal flexibility and customizability of the environment.
- To date, Saga has raised $15 million. Investors include Placeholder, Maven11, Longhash, Samsung, Com2uS, Polygon, Merit Circle, Figment, and Chorus One.
- As of April 4, 2024, the initial supply of $SAGA is 1,000,000,000. The total circulating supply at TGE is approximately 90,000,000 (9% of the total initial supply of the token).
Key metrics
Token distribution
1. What is Saga?
Saga is a Layer 1 protocol that allows developers to automatically launch "Chainlets", which are parallel, interoperable private chains for different virtual machines, providing unlimited scalability for applications.
Saga allows developers to launch Chainlets with the click of a button with shared security, cutting-edge validator orchestration, and automated CI/CD deployment pipelines standardized across any type of blockchain virtual machine.
In less than 2 years, the Saga ecosystem has grown to 350 projects based on its protocol, 80% of which are games. Saga has also partnered with Polygon, Avalanche, MarbleX, Com2uS, and Celestia to automatically scale its infrastructure using Chainlets.
1.1 Project Mission
Saga's mission is to make the next 1000 chains in gaming and entertainment part of the growing Saga Multiverse.
1.2 Value Proposition
Mass adoption of blockchain is imminent, and developers need an infinitely scalable, interoperable, and cost-effective infrastructure to support consumer applications.
Saga allows developers to launch dedicated block spaces on demand that can be elastically scaled based on performance needs, open fast bridging to other ecosystems, and priced at commodity prices, Saga provides the E2E infrastructure developers need to build next-generation applications on the blockchain.
1.3 Project Highlights
All Saga-based projects are part of the Saga Innovators Program, which includes 350 projects as of April 1, 2024. 80% of these projects are games. About 10% of the projects are NFTs and entertainment, and 10% are DeFi. The full list of innovators can be found here.
Saga has also partnered with the following Layer 1 protocols to scale its infrastructure with Chainlets:
- : Saga will automate the Polygon CDK chain
- " Avalanche"
- : Saga will automate decentralized aggregation along with Celestia DA
- : Saga will provide the scaling infrastructure for the MarbleX chain
- : Saga will provide the scaling infrastructure for the Com2uS chain
In March 2024, Saga launched Saga Origins, a new game publishing division dedicated to bringing cutting-edge, premium games to market.
Saga is a web3 chain that builds a dedicated game publishing department for developers to collaborate on publishing their projects.
Saga Origins is committed to providing a full-service and collaborative approach to bringing games to the global mass market. Traditionally, developers have only been funded when they build and publish their games, but Saga Origins offers additional beneficial support, including partnering with influencers to raise awareness, sponsoring user acquisition campaigns, community building, and promotional support.
Through its ongoing Play-to-Airdrop event, Saga, game studios, and guilds, all join forces to organize tournaments, and players are rewarded with highly sought-after $SAGA tokens for their participation. Most recently, in January, Saga completed a revolutionary Three Kingdoms airdrop campaign with participating partners Avalanche, Polygon, and Solana.
The Saga Pegasus Incentivized Testnet was released in Q4 2023 and yielded the following results:
Saga mainnet, the first phase will include the Saga security chain and the platform chain. Together, the Saga security chain and the platform chain will form the Saga mainnet.
- Security chain - The first of many security sources for the Saga protocol
- Platform chain - The destination for developers to launch and maintain their chainlets
- Chainlet - The area where all applications are located and where end-user activity takes place. The first Chainlet stack will be an EVM-based Chainlet to support large Solidity and Ethereum ecosystems, but with the goal of being VM-agnostic and allowing developers to deploy in any environment they prefer
1.4 Existing Products
The Saga protocol is a fully decentralized proof-of-stake chain. Each chainlet is a replica of the Saga mainnet with the same validator set and security model.
Each chainlet has the following features:
- Unlimited horizontal scalability: All chainlets are parallelized applicationchain instances, allowing applications to elastically scale to their peak performance and speed.
- Cost-free transactions and low and predictable chain fees: Developers can choose any monetization model they like, including their own tokens (or no tokens at all), fiat currencies, stablecoins, or even tokens from another ecosystem. All chainlet fees are determined by daily reverse auctions between validators, encouraging commodity pricing in the block space.
- Automation: Developers can build a chainlet with the click of a button in the Saga WebApp.
- Interoperability and fast bridging: Users can use automatic interoperability and asynchronous composability to transfer assets freely and quickly between Chainlets and Saga and other ecosystems. Since each chainlet offers fast transaction finality, users can also take advantage of fast bridging to other chains.
- Fully flexible stack: Developers enjoy their own dedicated chain, allowing for optimal flexibility and customizability of the environment.
The Saga Chainlet Realm is a way to automate the block space outside of the Chainlet stack through the Saga protocol. Saga Realms enables developers to launch customizable chains with different features and services on Saga, such as the tech stack, security sources, and the various obligations of those sources. Within the framework of Realms, the standard Saga Chainlet is one of the many Realms that will be supported in the near future, including Saga's partners in Ethereum (Ethlets), Polygon, Avalanche, Celestia, XPLA, and others. and all other Realm onboarding required for the following architectural components.
1.5 Technical Details
Saga uses shared security to automatically instantiate a fully decentralized proof-of-stake chain. Each Saga Chainlet is secured by Saga mainnet validators using shared security.
Saga shared security is similar to Eigenlayer staking in that one staked asset is repurposed to secure multiple chains. Chainlets can be configured to use various virtual machines (i.e. EVM, SolanaVM, MoveVM). Each chainlet has a dedicated VM that has been deployed onto a single chain. The EVM is the first VM supported by Saga Chainlets. Saga enables developers to manually "shard" various workflows into multiple chainlets to facilitate horizontal scaling. Since all chainlets communicate with each other, developers can have multiple chains supporting the same application, allowing for unlimited horizontal scalability.
2. Token economic model
2.1 Token Distribution
2.2 Token Issuance Schedule
Note: The Ecosystem and Development Fund and Foundation Reserve will continue to unlock after April 2031. Approximately 6.1% of the total initial supply is set aside for potential future fundraising activities.
3. Community
- Discord
- Medium
- Telegram
- Youtube
appendix
- Saga Technical Documentation
- AI + Crypto’s First Creation Is the Multiverse
- Unblock Yourself Manifesto
- How Modularism Leads to Saga
- Saga代币机制及激励论文