Saga Coin ($SAGA)

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.