Binance Launchpool Rolls Out Support for New Layer-1 Crypto Project Focused on Developers

Top global crypto exchange Binance is rolling out support for a new layer-1 crypto project via its Launchpool platform.

Binance Launchpool, which lets users stake coins to farm new assets, says its 51st project will be Saga (SAGA), a web3 platform designed for developers.

Saga aims to enable developers to launch interoperable, application-specific chains called “Chainlets.”

Explains the project’s website,

“We are building this by rearchitecting developer and end-user interactions with blockchains. Using shared security, innovations in validator orchestration, and an automated deployment pipeline, Saga makes launching a dedicated blockchain, or Chainlet, as easy as deploying a smart contract.”

Between April 5th and April 9th, Binance users can stake BNB as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm SAGA tokens. The exchange then plans to list the asset on April 9th.

Launchpool will offer 45,000,000 SAGA as token rewards, 4.5% of the asset’s max supply.

Binance will attach a seed tag to SAGA, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Binance Launchpool Rolls Out Support for New Layer-1 Crypto Project Focused on Developers appeared first on The Daily Hodl.