Saga (SAGA): Catalyzing the Multiverse With Scalable Chains

One of the biggest problems in the blockchain universe right now is the lack of accessible tools for developers. Many people interested in designing new web3 projects struggle to find the right software developer kits (SDKs) for their projects. The Saga ecosystem aims to fix this issue by providing unparalleled support to app and game developers. 

Can the Saga ecosystem really become the premier chain for web3 development? Keep reading to learn how it works and see whether it's likely to attract new developers.

Key Takeaways:

• Saga is a Layer 1 blockchain protocol that allows developers to design their own dedicated chains for running applications.

• People who work on Saga all share the same security, scaling solutions and SDKs, but each gets their own unique chain that they can customize to suit their needs.

• Looking to trade Saga tokens? Bybit now offers SAGAUSDT Perpetual contracts.

What Is Saga?

Saga is a Layer 1 blockchain protocol. It allows developers to design their own dedicated chains for running applications. People who work on Saga all share the same security, scaling solutions and SDKs, but they each get their own unique chain that they can customize to suit their needs.

History of Saga

Saga was founded by a team of technology, crypto and finance enthusiasts. CEO Rebecca Liao is a co-founder of the Skuchain project, the designer of the Sommelier DAO and a former international corporate attorney. Other members of the founding team include former Tendermint executive Jin Kwon, Blocktech Ventures founder Bogdan Alexandrescu and Jacob McDorman.

The Saga team was inspired by the widespread interest in mobile web3 games. They realized that there was a major need for a development-focused blockchain specifically designed for game project development. Saga's mission has attracted many major investors, including Samsung and Ignite Inc., with over $13.5 million in funding as of November 2023.

What Does Saga Aim to Achieve?

Saga aims to create a new system for web3 project developers. Currently, most developers have to choose between the ease of working on an established chain like Ethereum versus the convenience and customization of designing their own chain. The Saga team realized that the most effective option for game developers would actually be a combination of the two types of development environments.

Saga wants to let developers set up their own sovereign blockchain so they can decide how things like smart contracts and transaction fees work. However, Saga also aims to provide extensive support for developers in its ecosystem. Its underlying framework ensures that people still have excellent security and a reliable validator set, no matter what their gaming project is.

How Does Saga Work?

Saga is built on top of the Cosmos ecosystem, whose interchain web development standard is a set of protocols that allows a broad variety of blockchains to communicate with each other. The Saga network uses the Cosmos SDK and the shared security system of the Cosmos ecosystem to manage the network, and has created its own Layer 1 chain that runs the entire Saga ecosystem and can do things like automatically launching Celestia rollups.

The Saga Mainnet handles each developer's compiled smart contract binary. However, it also runs parallel dedicated chains that function as virtual machine (VM) modules capable of handling a specific set of smart contracts. End users for blockchain games and other apps interact only with the dedicated blockchain, while the developer's system manages the fees and individual transactions on the Saga Mainnet.

All of the chains on Saga are validated through optimistic coordination, which requires every Saga validator to validate each chain in the Saga ecosystem via proof of stake validation, verifying transactions by temporarily locking Saga tokens.

Features of Saga

The Saga network contains a lot more than just the basic features offered through the Cosmos SDK and ecosystem. In addition to the software development tools and helpful interface for Saga's validators and developers, the ecosystem also contains the following features.

Saga Topology

The overall layout of the Saga ecosystem starts with the Saga Mainnet. Built on the Cosmos hub, this framework includes a full validator set and a dedicated blockchain for handling all smart contracts. The basic protocols are passed on to each child chain in the system, and information is relayed back and forth between the main chain and all of the secondary chains. Saga's validators stake tokens, and then check to make sure every element of the topology follows Saga’s regulations.

Saga Chainlets

Saga chainlets are a method for creating a dedicated blockspace that a developer can manage. These chainlets function as virtual machines that can handle smart contracts and automatically launch Celestia rollups. Each chainlet is its own blockchain that handles nothing but a specific gaming project. Developers decide on the gas fees they'll charge users, and can add chainlets as their projects expand and require more throughput from the remaining validators.

Saga Shared Security

Saga's shared security relies on both the Cosmos hub and its own set of validators to secure the network. Validators on Saga’s network are monitored by auditors who can catch potential issues with individual dedicated chains. If anyone in the validator set fails to properly confirm a smart contract, their staked tokens are automatically confiscated.

Saga Origins

Saga Origins is a publishing system for gaming developers who want to create their own blockchains with help from Saga. It offers infinite scalability, seamless interoperability and transactions without gas fees. In addition to use of the Cosmos SDK, developers who choose to publish their game through Saga Origins receive access to a variety of helpful marketing and distribution tools.

Saga Multiverse

The Saga Multiverse is an interconnected blend of all the developers and projects in the Saga system. Though each sovereign blockchain is fully independent of others, they all join together to offer users a variety of exciting web3 projects. People interested in checking out the latest blockchain designs can join the Multiverse and browse all the neat concepts built on Saga.

Saga Community Airdrop

To help get the Saga validator system started, Saga released 60 million SAGA tokens to its community members. People were eligible for the airdrop if they had participated in the staking program or played in tournaments to promote Saga ecosystem games. The airdrop eligibility period required remaining validators and other participants to be active between January and October of 2023. Once the airdrop began allowing people to claim tokens, it continued to run until Mar 27, 2024.

Saga Road Map

Saga’s road map consists of four separate phases. The company has already completed the Andromeda and Cassiopeia phases, which focused on designing the Mainnet and setting up the system of Saga validators. Currently, the Saga team is in the Pegasus phase, which is about releasing tokens and opening the Saga Mainnet to the public. Sometime in late 2022, Saga’s team hopes to reach their Mainnet V2 phase, which will prioritize a new version of the Saga Mainnet with more features and options for dedicated blockspace.

SAGA Tokenomics

SAGA tokens are the primary method for paying fees on the Saga network. These tokens are also used for staking, and function as a method of confirming Saga transactions. There are a total of 1 billion tokens, of which around 90 million have thus far been released. Saga plans to distribute its tokens as follows:

• Ecosystem and development: 30%

• Airdrops: 20%

• Core contributors: 20%

• Fundraising: 20%

• Foundation reserve: 10%

SAGA Price Prediction

SAGA is still in the early stages of its token launch. However, it’s already surprised investors, having debuted at $4.91 on Apr 9, 2024 before quickly surging to its ATH to date of $7.60. It then steadily declined over the next few days to its current price of $3.06 as of Apr 19, 2024.

CoinCodex is optimistic about SAGA, with its experts believing SAGA’s price will reach $15.73 by 2025 and decrease in 2027 to $6.27, before rising again to $13.45 by 2030. This bullish sentiment is amplified by analysts at Changelly, who believe that SAGA’s price will increase to $6.91 in 2025, $14.21 in 2027 and $44.36 in 2030.

Where to Buy SAGA

Looking to trade Saga tokens? Bybit now offers SAGAUSDT Perpetual contracts. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the SAGAUSDT Perpetual contracts trading page. 

Is SAGA a Good Investment?

SAGA has done an extremely impressive job of attracting users, and seems poised to become the big coin debut of April 2024 with its high price.

However, it's hard to say whether SAGA can maintain its price in the long run. It's quite common for new startups to have a strong start and then drop in price once their project fails to take off. If the Saga ecosystem can’t attract new developers and continue to release impressive projects, investors could see some major SAGA losses in the future.

Since this coin is so volatile right now, investors need to approach it with caution. It has the potential for both big profits and big losses, so you’ll want to carefully consider how these price shifts might affect your portfolio. For best results, avoid investing more than you can afford to lose, make sure you diversify your investments — and DYOR.

The Bottom Line

By offering developers the chance to create their own dedicated chains, Saga offers a more convenient and scalable system for blockchain gaming. Its helpful features and low transaction fees have already attracted many people, and it's no surprise that many others are interested in the project. Furthermore, SAGA tokens have had a promising start with extremely impressive growth. If the Saga company can successfully capitalize on its early buzz, it has a bright future.

#LearnWithBybit