Saga Research Report: Focus on the modular Layer1 of the game

Source: 0xgreythorn

Project name: SAGA

Project type: L1

Stock code: $ SAGA

Cryptocurrency ranking: 221

Market value: $ 22.5M

Complete dilution value (FDV): $ 3.6B

Circulation supply: 90m (9%)

Total supply: 1B

Maximum supply: 量

introduction

Modern blockchain provides solutions for the difficulty of achieving decentralization, security and scalability in blockchain technology.This innovation method distributes the basic functions of the blockchain, such as execution, settlement, data availability and consensus to various specialized networks.Unlike the traditional blockchain dependent on all operations that depends on a single network, modular blockchain separates these tasks, significantly improved the efficiency of each function.

Source: Binance Research

Modification is a promising path to improve the scalability of the blockchain, and solves the key issues of decentralization and security that many blockchain projects are actively exploring and developing.Since the establishment of Celestia, the development of various solutions has been seen in the field of modularity, such as sharing sequencers, verification systems, interoperability protocols, order flow abstraction items, and such as the Rollup framework and ROLLUP-A-A-Service (RaaS).Infrastructure provider.

Source: Celestia

A notable project is SAGA, a modular Layer1 platform tailored for the game industry. Recently, it has become an innovative participant in the field of encryption technology.

Saga Overview

Starting a blockchain may be complicated because it requires developers to handle various technologies for blockchain infrastructure.The SAGA protocol provides a CHAINLET -a dedicated blockchain that can be easily launched like a smart contract, which simplifies this process.This solution integrates key elements such as data availability, consensus, execution and settlement to create a seamless product experience.By integrating these components, SAGA not only saves time for developers, but also reduces the typical complexity of the module system.

The SAGA protocol runs on a completely decentralized equity proof model to ensure that each chainlet keeps the same high security standards as the SAGA main network and uses the same authentication set.

Saga’s influence is obvious in its rapid growth.In less than two years, it has successfully attracted 350 projects, 80%of which focus on the game industry.The strategic cooperation between industry leaders such as Polygon, Avalanche, and Celestia further highlights SAGA’s ability to effectively expand infrastructure and support wide blockchain applications.

Saga architecture

Chainlets

The Saga protocol has completely reformed the deployment of the blockchain through its product CHAINLETS.These are interoperable and customized automation and high -performance blockchains in the Saga ecosystem.

These chains are protected by the SAGA blockchain and verified by sharing security models called “Interchain Security” (chain security) to enjoy solid protection.This model enables SAGA to provide security guarantee for its CHAINLETS to ensure that they have the same security and decentralization level as SAGA itself. Its functions are similar to the COSMOS SDK application chain, but there is no need to manage authentication.

Source: Saga

Chainlets provides developers with a decentralized and secure way to deploy specific applications of blockchain, allowing developers to freely choose their preference virtual machines.This flexibility is prominently displayed at the SAGA Multi -Universe Summit. By launching Saga Realms, developers can start customized chains with different characteristics and services on Saga, such as technology stacks, safety sources and related obligations.Under the Realms framework, the standard Saga Chainlet will become one of the many areas supporting in the future, including services for SAGA’s partners Ethereum (Ethlets), Polygon, Avalanche, Celestia and others.

Compared with the replication security mechanism adopted by the COSMOS HUB, the process of starting a Chainlet has unique no license.Developers only need to use the $ SAGA token payment settings and maintain the cost of their Chainlet, which is similar to subscribing services using Amazon network services and other providers, but the payment method is $ SAGA token.

Security chain

The security chain is the main source of security of the SAGA protocol, using COSMOS-SDK.It is responsible for the potential punishment measures for the casting, pledge of the $ SAGA tokens, and the improper behavior of the verification.

Platform chain

The platform chain is also constructed based on COSMOS-SDK, which is a place for developers to start and manage its Chainlets.It brings together a variety of security sources, including security chains, and expands security to Chainlets through the process called cross -chain verification (CCV), and also reports any report of the improper behavior of the report to return the security chain for potential punishment measures.

At first, the platform chain will mainly obtain security guarantee from the SAGA security chain, but it is planned to include additional security sources including Ethereum, Polygon, Avalanche, and other authenticants in the future.

Team, admission and alliance

The SAGA team was leading a group of vibrant and experienced co -founders:

Jin Kwon, co -founder and chief strategic officer, former vice president of IGNITE, holds a master’s degree in computer science from the University of California Berkeley.
Jacob McDorman, co -founder and chief technology officer, has jointly founded Software Consulting Company Cellaflora, holding a bachelor’s degree in mathematics from Purdue University.
Bogdan Alexandrescu, technical experts and entrepreneurs, active in the Bitcoin Foundation and multiple blockchain projects.
Rebecca Liao, co -founder and CEO, is also the co -founder of global trade blockchain Skuchain.Under her leadership, Skuchain’s annual transaction value exceeded $ 5 billion, and in 2020, it was rated as the top blockchain company by the World Trade Organization.

As of April 26, 2024, SAGA Innovation plans to include 350 projects, 80%focus on the game field, 10%focus on NFT and entertainment, and the remaining 10%focus on decentralized finance (DEFI).These projects use SAGA’s technological innovation and expand their blockchain applications.

SAGA has cooperated with multiple leading blockchain agreements to achieve expansion with its CHAINLETS technology:

XPLA and COM2US: In November 2022, Saga cooperated with XPLA to provide scalable infrastructure for the game’s special chain.
Celestia Lab: In January 2023, SAGA began to implement the sequencer as a service to cooperate with Celestia to expand the convolutional structure.
Polygon: In February 2023, cooperative automation super network, promoting the deployment of the application chain solution.
Avalanche: In April 2023, the instance of SAGA automated subnet enhances the deployment of the application chain.

Saga Origins was launched in March 2024 and is committed to leading Web3 games into the market.The department actively supports game developers from the initial concept to the final release.In order to promote success, Saga Origins provides a series of services including cooperating with influencing to enhance visibility, providing financial support, and extensive promotion support for users to maximize influence and participation.

Token economics

The $ SAGA tokens are multi -purpose in the SAGA protocol.It is the currency of the development of network verifications when starting and maintaining CHAINLETS.It is also a way to reward users who mortgage to tokens to support network security.In addition, holding $ SAGA also gives users the right to vote for future decision -making on the Internet.Initially, one billion $ SAGA tokens will be issued, of which about 90 million are 9%, which will be released when generating tokens.

The market value is US $ 22.5 million, with a completely diluted value of $ 3.6 billion.At present, the number of tokens circulating is 90 million, accounting for 9%of the total supply of 1 billion.

Token distribution:

Source: cryptorank

Token issuance plan:

Source: Binance Research

Financing process

In October 2021, the company successfully raised $ 2 million under Ignite’s investment.The following year, on May 19, 2022, the additional 6.5 million US dollars were successfully raised in a round of seed financing. Investors include Hypersphere Ventures, Maven 11 Capital, Samsungnext, Merit Circle, Polygon Studios and Longhash Ventures.On November 20, 2023, 5 million US dollars were raised in the extended seed wheel, led by Placeholder Ventures, and received support from Longhash Ventures, Com2us, Red Beard Ventures, Dispersion Capital and Tykhe Block Ventures.

In addition to these successful financing wheels, Saga’s iconic launch on Binance surpassed all the previous start -up pool records, which attracted more than $ 13 billion in funds in less than 24 hours.

Positive fundamental factors

Modification key: Modularization is the key to solving scalability, decentralization and security challenges in blockchain technology.As an early use of this model, once Saga is widely accepted by this model, it will greatly benefit.
The rise of the game finance industry: Gamefi has become one of the most promising industries in the field of digital assets. SAGA is investing in major resources in the field to ensure that it occupies a remarkable position in the industry.
Strategic partnership: SAGA has established strategic cooperation relations with important blockchain entities such as Polygon, Avalanche and Celestia. These cooperative relationships have strengthened SAGA’s technical infrastructure and broaden their ecosystems.The ability of blockchain applications.
Obtaining important investment: SAGA has obtained major investment from well -known investors, providing necessary financial stability, and supporting its continuous development and expansion.Saga’s recordability in Binance highlights the potential of its market reputation and success, which has obtained a wide range of participation in the community and the firm confidence of investors.

Negative fundamental factors

Fierce market competition: the blockchain field, especially the game and decentralized finance (DEFI) market, and the competition is fierce, with many mature competitors and the emergence of newly -entered enterprises.SAGA’s success relies on its continuous innovation capabilities and its differentiation with other blockchain platforms in terms of improving scalability and efficiency.
Market high fluctuations: From the perspective of investment, the cryptocurrency market is extremely fluctuating, which is very sensitive to macroeconomic factors, liquidity cycles and economic news.Although the technology and SAGA have high potential, the essence of market speculation often covers its actual use and needs.
Regulations and legal risks: change of regulations may affect the operation of Saga’s operations that are unfavorable to cryptocurrencies, especially in major markets that are vital to its growth.

Conclusion

With the evolution of the blockchain, SAGA, as a significant participant in modular blockchain technology, especially in the game field, it enhances efficiency, security and security and security and security and security and security and security and security.Expansion, the importance of SAGA is particularly prominent.The introduction of CHAINLETS and its commitment to infrastructure of scalability, interoperability and cost benefits enable SAGA to not only meet the current demand for blockchain solutions, but also profoundly affect the future development of decentralized applications.SAGA’s commitment to progress and innovation will marked it as a key, deserved entity in the blockchain ecosystem.