Via Binance Launchpool, the platform offers BNB and FDUSD holders the opportunity to participate in the farming of SAGA tokens from the Saga protocol, which enables developers to create blockchains for very specific uses. How to participate in this Launchpool to obtain SAGA tokens
How to win SAGA tokens via the Binance Launchpool?
The Binance platform welcomes Layer 1 Saga and its token of the same name to its Launchpool, a product that allows you to obtain tokens before they are launched on the market.
By temporarily locking BNBs and/or FDUSDs into Binance Launchpool pools, users will be able to obtain SAGA tokens at the end of the farming period. The farming period will run from April 5 (00:00 UTC) to April 8 (23:59 UTC).
To participate, simply create a Binance account, hold BNB and/or FDUSD and click on the “More” tab, then on “Launchpad and Launchpool”.
As soon as the farming period begins, you’ll find the 2 pools dedicated to the SAGA token on this page, where all you need to do is place BNB and/or FDUSD in staking (free of charge) to start farming.
Once the farming period is over, Binance will distribute a total of 45 million SAGA tokens (4.5% of the total offer) to participants. Participants will receive an allocation proportional to their participation in the BNB and FDUSD pools.
The SAGA token will then be listed on Binance on April 9 at 14:00 UTC. All participants in Saga’s Binance Launchpool will then be able to sell their newly acquired tokens if they wish.
Information to remember about SAGA’s Binance Launchpool
- The farming period will be open from April 5 at 00:00 UTC to April 8 at 23:59 UTC ;
- 36 million SAGA tokens will be distributed to participants who have locked BNBs (80% of the Launchpool), while 9 million will go to FDUSD holders (20% of the Launchpool);
- The number of tokens allocated to each user will depend on the amount of BNB and/or FDUSD placed in the pools, as well as the total farming duration;
- The SAGA token will be listed on Binance on April 9 at 14:00 UTC, with trading pairs including BTC, USDT, BNB, FDUSD and TRY.
What is Saga and what is its token used for
Saga describes itself as a protocol where it’s as easy to launch a dedicated blockchain, or Chainlet, as it is to deploy a smart contract. Chainlets are secured by Saga blockchain validators using the Cosmos Interchain Security (ICS) module.
Thanks to ICS, each Chainlet automatically inherits the security of the Saga mainnet, without the need for its own individual staking token.
Concerning the SAGA token, here are its main roles within the ecosystem:
- Developers must lock SAGA tokens to launch a Chainlet;
- SAGA token holders can help fund the launch of a Chainlet;
- Users can place SAGA tokens in staking to participate in the operation of the network and receive rewards.
