SAGA token economics is a complex and methodical system that aims to promote the development of the Saga ecosystem through reasonable token distribution and diverse application scenarios. This article will deeply analyze the distribution method, development dynamics and future potential of SAGA tokens.
Token Distribution
In the first phase, $SAGA tokens will be launched on the Saga Security Chain. The total supply of Saga is 1 billion tokens, which will be distributed as follows:
1. Core Contributors (20%): Core contributors will receive 20% of the tokens, which have a 3-year lock-up period and a 1-year cliff lock-up period starting from the TGE (Token Generation Event).
2. Private Equity (20%): Private equity investors will receive 20% of the tokens, 10% of which have been allocated so far, and the remaining 10% will be used for future fundraising. These tokens also have a 3-year lock-up period and a 1-year cliff lock-up period starting from the TGE.
3. Ecosystem and Development (30%): Ecosystem and Development will receive 30% of the tokens, which will be used to promote the construction and expansion of the Saga ecosystem.
4. Foundation Reserve (10%): The Foundation Reserve will account for 10% for future strategic development and emergency reserves.
5. Airdrop (20%): Finally, 20% of the tokens will be distributed through airdrops to builders, stakers, holders and end users who show useful behavior to the Saga ecosystem.
Airdrop Plan
The airdrop plan will be carried out in multiple stages:
Phase 1: 6% of the total token supply will be airdropped at TGE, that is, 60,000,000 tokens.
Phase 2 to 6: 4% of the total token supply will be airdropped from Phases 2 to 6, that is, 40,000,000 tokens.
After Phase 6: 10% of the total token supply will be airdropped through multiple airdrop activities after Phase 6.
Development and Financing
Saga announced in May 2022 that it had completed a $6.5 million seed round of financing at a valuation of $130 million. This round of financing was participated by Maven 11, Longhash Ventures, Hypersphere, etc. On November 20, 2023, Saga announced a $5 million seed extension financing led by venture capital firm Placeholder. The investment brings Saga's total funding to $13.5 million.
Pegasus Incentive Testnet
In October 2022, Saga announced that the Pegasus Incentive Testnet was online. According to the team, Pegasus introduced staking for Saga. With the release of Pegasus, valuable assets can be staked to protect the Saga mainnet.
The future of Saga
Saga is currently more oriented towards gaming scenarios, but Saga co-founder Liao said it aims to become a "general infrastructure platform" that can serve many types of decentralized applications.
Co-founder background
LIAO: LIAO is the co-founder, advisor and COO of Skuchain, and was the founder of Skuchain. Skuchain is a blockchain platform for global trade with an annual transaction volume of $5 billion.
Jin: Jin is another co-founder of Saga, and before joining Saga, he was an executive at Tendermint. Tendermint is a development company that helped launch the Cosmos Hub.
Conclusion
SAGA token economics provides a solid foundation for the construction of the Saga ecosystem through reasonable token distribution and diverse application scenarios. In the future, with the addition of more decentralized applications and more token airdrops, Saga is expected to become an important blockchain infrastructure platform.