Saga: A modular Layer 1 platform customized for the gaming industry

Modular blockchain technology provides innovative solutions to the challenges of decentralization, security, and scalability. This approach decentralizes the core functionalities of the blockchain into specialized networks, significantly improving the efficiency of each function. Since the advent of Celestia, various solutions have emerged in the modular space, including shared sequencers, verification systems, and interoperability protocols.

Against this backdrop, Saga stands out as a modular Layer 1 platform specifically designed for the gaming industry, becoming a rising star in the field of cryptocurrency technology.

Overview of Saga

The Saga protocol simplifies the blockchain launch process by providing Chainlet. Chainlet is a dedicated blockchain that developers can easily launch, just like deploying a smart contract. This solution integrates key elements such as data availability, consensus, execution, and settlement, providing developers with a seamless product experience.

Saga adopts a fully decentralized proof-of-stake model, ensuring that each Chainlet maintains the same security standards and validator set as the Saga mainnet.

In less than two years, Saga has attracted 350 projects, with 80% focused on the gaming industry. Strategic partnerships with industry leaders such as Polygon, Avalanche, and Celestia further highlight Saga's strength in expanding infrastructure and supporting a wide range of blockchain applications.

Saga Architecture

Chainlets

Chainlets are interoperable and customizable automated, high-performance blockchains within the Saga ecosystem. They are protected through the "inter-chain security" model and enjoy the same level of security and decentralization as Saga itself.

Developers can freely choose their preferred virtual machine to launch customizable chains with different features and services on Saga. In the future, Saga plans to support multiple domains, including Ethereum, Polygon, Avalanche, and Celestia.

The process of launching Chainlet does not require permission; developers only need to use $SAGA tokens to pay for setup and maintenance fees.

Security Chain and Platform Chain

The Security Chain is responsible for the minting, staking, and punishment measures for validator misconduct of the $SAGA token. The Platform Chain is the place where developers launch and manage Chainlets, aggregating various security sources and extending security to Chainlets through cross-chain verification.

Team and Cooperation

Saga is led by experienced co-founders, including Jin Kwon, Jacob McDorman, Bogdan Alexandrescu, and Rebecca Liao.

Saga has established partnerships with several leading blockchain protocols, including XPLA, Celestia, Polygon, and Avalanche, to expand its Chainlets technology.

Saga Origins, launching in March 2024, is dedicated to supporting Web3 game development, providing comprehensive support from concept to release.

Token Economics

The $SAGA token plays multiple roles in the Saga protocol, including paying network validator fees, rewarding stakers, and participating in network governance. The initial supply is 1 billion $SAGA tokens, of which about 9% are released at the token generation event.

The current market value is $22.5 million, with a fully diluted valuation of $3.6 billion. The circulating supply of tokens is 90 million, accounting for 9% of the total supply.

Financing Journey

Saga has undergone multiple rounds of financing since 2021, including a $2 million initial investment, a $6.5 million seed round, and a $5 million extension seed round. Investors include well-known institutions such as Hypersphere Ventures, Maven 11 Capital, and Samsung Next.

In addition, Saga's launch on a certain platform set a record for the platform's launch pool, attracting over $13 billion in funds within 24 hours.

Development Prospects

As a pioneer of modular blockchain technology, Saga has significant advantages, especially in the gaming sector. Its Chainlets technology is expected to meet the current demand for blockchain solutions and influence the development of future decentralized applications.

However, Saga also faces intense market competition, high volatility in the cryptocurrency market, and potential regulatory risks. Nevertheless, Saga's commitment to technological innovation makes it an important entity worth paying attention to in the blockchain ecosystem.