The world’s largest crypto exchange, Binance, has expanded its staking pool by adding another token as its 51st project.
Binance recently revealed that it has added SAGA Token to the Binance Launchpool platform as part of its move to offer more innovative staking services to users. The webpage for the upcoming token will go live five hours before the Launchpool begins, allowing participants to explore and understand the project before diving in. This move paves the way for a more efficient and informed participation process.
New Staking Opportunities
With a maximum token supply capped at one billion SAGA, the Launchpool project has set aside a significant portion of 45 million SAGA tokens, or 4.5% of the total supply, as rewards for participants in the Launchpool. The project has set an initial circulating supply of 90 million SAGA tokens, or 9% of the total supply, to ensure a balanced distribution and sufficient liquidity.
Meanwhile, participation in the Launchpool and staking assets to earn SAGA tokens are subject to specific terms and conditions. As part of this launch process, participants must stake their Binance Coin (BNB) and Binance USD (FDUSD) in separate pools for four days to earn SAGA tokens.
This farming opportunity, which will occur between April 5 and April 8, 2024, provides a strategic window for users to participate in this profitable venture and reap massive benefits. Based on information from the Saga Security Chain, the SAGA token will be listed on the exchange platform on April 9, 2024.
Following the listing, trading will begin with several trading pairs, notably SAGA/BTC, SAGA/BNB, SAGA/FDUSD, SAGA/USDT, and SAGA/TRY. The application of the Seed Tag to SAGA represents its status as a newly listed token on the exchange.
Equal Distribution And Rewards
It is worth noting that Binance implements hourly caps for each user to ensure fairness: 37,500 SAGA in the BNB pool and 9,375 SAGA in the FDUSD pool. In addition, the exchange will set up a reliable system for calculating and distributing rewards.
Hourly snapshots of user and pool balances will allow for calculating users’ average balances and subsequent reward allocations. Users can accumulate and claim rewards directly to their spot accounts whenever they want.
