Binance Launchpool Releases Project: Saga
The Binance Launchpool platform is fast becoming one of the most enticing platforms for crypto investors, due to its already proven track record of supporting and producing stellar crypto projects through its launchpool & launchpad, the latest of which is the Saga project.
What is Binance Launchpool?
Now, in case you don’t know what the Binance launchpool is, or how it operates, let me break it down in an easier-to-understand manner. It is a platform where users are allowed to contribute their resources to the pool using specific tokens or precisely the native tokens of the platform such as BNB and FDUSD.
Users are allowed to contribute their resources to the launchpool to help facilitate liquidity for an upcoming project and in turn are rewarded with a portion of the upcoming project’s token. This means the users stake an amount in any of the above-mentioned tokens and then can farm the tokens of the upcoming project where they have pooled their liquidity, this serves as a means of reward.
From my research, I have noticed that the majority of these new projects listed on the Binance Launchpool end up becoming very successful enabling the users who staked a number of their tokens as a contribution to the liquidity of the project to earn a good amount of profit due to the almost 90% success of these project listed on the launchpool.
The most recent examples of such successful projects are $ETHFI, $ENA, and $AEVO to mention but a few. In summary, this means that farming tokens of upcoming projects on the Binance Launchpool is an almost risk-free way of earning some profit in the risky crypto space. However, one thing of note is that the amount of liquidity you can contribute to the pool determines your gains and returns, making it almost impossible for those with little to no capital in the space.
What is Saga?
Saga is the latest project on the Binance Launchpool platform and is a modular Layer 1 blockchain, crafted to streamline the Web3 development journey. With its extensive toolkit and SagaOS platform, developers are equipped to bring their ambitious projects to life effortlessly.
At its essence, Saga strives to simplify the process of crafting dedicated, parallel, and interoperable chains that adapt dynamically to Web3 app requirements. Its fusion of flexibility, efficiency, and scalability solidifies its standing as a prominent player in the blockchain community.
Saga also has a pool of investors and notable partnerships with the likes of Polygon, Samsung, Maven11, LongHash Ventures, Hypershere, Figment, Polygon, Samsung Next, Chorus One, GSR, C2X, Crit Ventures, Merit Circle, and Hustle Fund in the mix.
The Layer 1 Blockchain protocol was founded by Rebecca Liao, Jin Kwon, Jacob McDorman, and Bogdan Alexandrescu.
How to Participate in Saga Launchpool?
Saga will be launching on April 9th and this is also when Binance and other crypto exchanges will be listing the token making it possible for public trading. What this means is before this time, the only way to get the Saga token airdropped to your wallet is by participating in the Saga launchpool on Binance.
To do that, firstly, you need to have a Binance account, after which, you need to have either the Binance Coin (BNB) or the FDUSD. These two tokens will be staked by the user on the Binance Launchpool platform and after staking any or both of these tokens the user will start earning Saga tokens as a reward. The staking period will last for 4 days, starting from the 5th of April and ending on the 9th of April where the token will then be listed on the Binance exchange.
As soon as the token is listed on the Binance exchange, users can immediately convert their earned Saga tokens to their native currencies and rake in their profit.
How to Participate in Launchpool Projects on Binance.
Firstly log into binance, and navigate your way to the launchpad. If you are using your mobile devices, looking at the diagram below, make sure you are on the Binance pro view where you have more features displayed and more tools available.
If you are sure you are on the binance pro view, click on the home icon which is on the bottom left of your mobile screen, you can see it in the diagram below.
After you do that check for the menu icons displayed at the top of the mobile home screen right below the total balance position. You can see that in the diagram below also. Click on the more icon from among the menu list indicated with the arrow in the diagram.
Clicking this button will bring up a screen with a lot more features available on Binance, navigate down and search for the launchpad icon. It is located under the earn subheading. You can see it illustrated in the diagram below.
After you locate this feature, click on it, and it will take you to the screen you are seeing below. You can see that there is the #FDUSD pool and the #BNB pool, select the pool you would like to stake your tokens in to start farming.
After you select the pool you would like to stake your tokens in, you will be taken to the next screen, where you just need to select the token you want to stake. Ensure you click the stake button on the token that is available in your wallet. If what you have is BNB, then you just need to click on the stake button in front of the BNB pool, and if what you have is FDUSD, you click on the stake button in front of the FDUSD pool.
After this, you are asked to input the amount you want to stake, confirm it and that is all, you are done staking, and farming the Saga token begins. You will be receiving the token at intervals for the next 4 days till the farming period is over.
Here are some other details you need to know:
Here are the details you need to know:
Token Supply: 1,000,000,000 SAGA
Launchpool Token Awards: 45,000,000 SAGA
Initial Circulation Supply: 90,000,000 SAGA
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