Top global crypto exchange Binance is rolling out support for a new layer-1 crypto project via its Launchpool platform.
Binance Launchpool, which lets users stake coins to farm new assets, says its 51st project will be Saga (SAGA), a web3 platform designed for developers.
[adinserter block="1"]Saga aims to enable developers to launch interoperable, application-specific chains called “Chainlets.”
Explains the project’s website,
“We are building this by rearchitecting developer and end-user interactions with blockchains. Using shared security, innovations in validator orchestration, and an automated deployment pipeline, Saga makes launching a dedicated blockchain, or Chainlet, as easy as deploying a smart contract.”
Between April 5th and April 9th, Binance users can stake BNB as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm SAGA tokens. The exchange then plans to list the asset on April 9th.
Launchpool will offer 45,000,000 SAGA as token rewards, 4.5% of the asset’s max supply.
Binance will attach a seed tag to SAGA, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
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