Binance, a leading global cryptocurrency exchange, has launched support for new layer 1 cryptocurrency projects through its Launchpool platform.
Binance Launchpool, which allows users to stake their coins to earn new assets, announced that its 51st project will be SAGA, a web3 platform designed for developers.
Saga aims to enable developers to launch interoperable application-specific chains called “Chainlets”.
Describe the project’s website,
“We are building this by reimagining the interaction between developers and end users on blockchain. “Using shared security, innovations in validator orchestration, and automated deployment pipelines, Saga makes launching a dedicated blockchain or Chainlet as easy as deploying a smart contract.”
Between April 5 and April 9, Binance users can earn SAGA tokens by staking BNB and the stablecoin First Digital USD (FDUSD) in separate pools. The exchange plans to list the asset on April 9.
Lunchpool offers 45,000,000 SAGA in token rewards, 4.5% of the asset’s maximum supply.
Binance plans to attach a seed tag to SAGA, which the exchange applies to low-liquid projects that may exhibit higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass a quiz every 90 days to ensure they are aware of the risks before trading the tokens.
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