Saga Coin Logo

Saga Coin ($SAGA)

Past
Total Raise: $15,000,000
Date: 01 Nov - 01 May

Saga Chain is a Layer 1 network built on the Cosmos SDK with limitless horizontal scalability potential. It enables web3 game developers to seamlessly spin up their own parallelized, Virtual Machine-independent, and interoperable chains called "Chainlets".

The entire Saga protocol is powered by its native $SAGA token, which is used for accessing decentralized governance, staking, paying fees, and rewarding Chainlets validators within the network.

Since its inception in 2021, the company has closed three private funding rounds with top-tier funds and investors, including Polygon Studios, Hypersphere Ventures, SamsungNext, and others, securing over $15M. 

❗️ ❗️ ❗ IMPORTANT:

Please note that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch isn't a financial advisor and doesn't intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 89+ distinct variables/metrics, refined over time through the team's rich 7-year experience.

Saga Coin Overview

Ticker: $SAGA
Country: United States
Founded: 2021
Whitelist: No
Blockchain Network: Saga Chain
KYC: Yes
Bounty: Yes
MVP: Yes
Type: IEO, Equity
Security Audit: No

Saga Coin Review

Saga is a Layer 1 chain network built on Cosmos SDK, aimed at simplifying and enhancing the DeFi and Web3 gaming industries by offering a more customizable and streamlined process for developing new applications.

On the Saga chain network, blockchain developers can create their own autonomous, VM-independent decentralized applications called "Chainlets". This opens up opportunities for limitless horizontal scaling potential and highly customized, interoperable, fee-predictable, and easy-to-create applications.

While Chainlets are autonomous and Virtual Machine agnostic, they still rely on Saga's L1 security and validators. They pay a fee to validators based on a subscription model. The subscription price is determined during validators' auctions, where the validator offering the lowest price wins the auction for Chainlets.

Token utility: The entire governance and security mechanism are powered by the native SAGA coin. It plays a major role in staking, paying security subscription and trading fees, rewarding node runners and participating in the DAO votings. 

The concept and ambitions of the Saga crypto protocol to facilitate web3 dapps development have garnered significant attention from developers and the crypto community, expanding its ecosystem to over 360 active decentralized applications. Top-tier investors including Polygon Studios, SamsungNext, Maven 11 Capital, and others have also recognized the huge potential of the Saga network, contributing over $15M during three private funding rounds.

On April 5, 2024, the project forged a new partnership with the largest crypto exchange, Binance, announcing an IEO and subsequently listing of $SAGA on the exchange, allocating 4.5% of the total supply for the event

Considering this information alongside Saga airdrop announcements, the CoinLaunch team decided to analyze and rate the project, outlining its major pros and cons in marketing, tokenomics, product, and other key metrics.

 

Saga’s Token Sale pros:

  • Highly demanded product for web3 games developers;
  • Large user base of over 14M unique wallet;
  • Relatively low Initial Market Cup/ FDV ratio (9%);
  • Low Token Inflation Rate (1.19%)
  • High PR, Social Media and Growth Marketing performance;
  • Listing and IEO on Binance indicated strong network of partners supporting the project;
  • Experienced leadership team.

Saga’s Token Sale cons:

  • There’s no record of any platform’s security audits;
  • Lack of transparency in tokenomics: token price at each investment round, vesting, etc.
  • Weak influencer marketing performance;
  • While there’s a robust network of tier 2 funds which are also considered as top-tier, there’s no tier 1 fund supporting the project.

Saga Coin Token Economy

Total Raise: $15,000,000
Total Supply: 1,000,000,000
Private/Pre-sale: 200,000,000 (20%)
Public Sale: 45,000,000 (4.5%)
Fully Diluted Valuation (FDV): $75,000,000
Initial Circulation Supply: $6,750,000 (9% of FDV)

Saga Coin Token Sale (ICO & IDO) Rounds

IEO: 05 Apr - 08 Apr

Price: $0.075
Tokens for sale: 45,000,000
Raise: $3,375,000
Lock-Up: No lock-up
Seed: 01 Nov - 02 Nov

Price: N/A
Tokens for sale: N/A
Raise: $2,000,000
Lock-Up: 12 monthly cliff, then 33.36% release and 2.74% unlock every ...
Seed: 19 May - 20 May

Price: N/A
Tokens for sale: N/A
Raise: $6,500,000
Lock-Up: 12 monthly cliff, then 33.36% release and 2.74% unlock every ...
Seed: 20 Nov - 21 Nov

Price: N/A
Tokens for sale: N/A
Raise: $5,000,000
Lock-Up: 12 monthly cliff, then 33.36% release and 2.74% unlock every ...

Saga Coin Token Release Schedule

Saga Token Release Schedule

Saga Coin Funds and Backers
(3/13)

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GSR
Score:
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Saga Coin Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  05 Apr 2024 Upgrade

Saga Coin Team

Rebecca Liao
Rebecca Liao
CEO & Co-founder
Jin Kwon
Jin Kwon
Chief Strategy Officer & Co-founder
Jacob McDorman
Jacob McDorman
Co-founder & CTO

Saga Coin News

Saga Coin Roadmap

2022: Q3

Andromeda Alphanet

2023: Q1

Cassiopeia Testnet

2023: Q4

Pegasus Incentivized Testnet

2024: Q2

Mainnet

Saga Coin Airdrop & Retrodrop & Bounty

Airdrop for Stakers
Saga Coin Logo
funds
Start Date:
09 Apr 2024
End Date:
01 May 2024
Difficulty:
Medium
Winners:
N/A
Rewards:
N/A

Description

Saga is an L1 network built on Cosmos SDK with a unique approach to limitless horizontal scalability. It enables developers to construct their own VM-agnostic chain networks called “Chainlets,” powered by the PoS mechanism of the Saga protocol.

The PoS and decentralized governance within the Saga crypto network are powered by its native Saga token, which is utilized for paying fees, rewarding node runners, and voting on network governance proposals.

On April 9, 2024, the platform launched a staking campaign and mentioned an upcoming from Saga and the dApps for stakers in the same post. According to the platform's announcements, the snapshot for the event is scheduled to occur this month.

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