Binance announces new airdrop of 45,000,000 tokens for free

Binance, a leading cryptocurrency exchange platform, announced token (SAGA) as its 51st Launchpool project. One of the key features of this launch is the opportunity for users to stake their BNB (Binance Coin) and FDUSD (Binance USD) in separate pools over four days.

By staking these assets, participants can earn free SAGA tokens via airdrop, the latest addition to Binance’s diverse digital asset ecosystem.

Additionally, Saga is scheduled to be listed on Binance with multiple trading pairs on April 9, 2024. If it follows the other listings announced by Binance on Launchpool, the token could rise up to 4,000% on the day of listing.

With a total SAGA supply of 1,000,000,000, 45,000,000 (4.5% of the total supply) will be allocated as Binance Launchpool rewards. Upon listing on Binance, the token will debut with an initial circulating supply of 90,000,000 (9% of the total).

The SAGA token can be utilized for a number of use cases, including staking and governance. Notably, developers on Saga Protocol will use the token to pay network validators to instantiate and “keep their Chainlets alive.”

Binance Announces SAGA Token

Participation in the Binance Launchpool is subject to eligibility based on the user’s country of residence and completion of KYC processes to verify their accounts. In addition to the USA, users from Japan, Australia, Canada, New Zealand and the Netherlands, among other prohibited countries, will not be able to participate in SAGA farming.

During the farming period, users will be able to stake their tokens and earn rewards. Saga Launchpool offers a total of 45,000,000 SAGA tokens as rewards, which represents 4.5% of the maximum token supply. Saga’s initial circulating supply is set at 90,000,000 SAGA, which represents 9% of the maximum token supply.

It is important to note that participation in Saga Launchpool may be subject to eligibility criteria based on the user’s country or region of residence.

Binance highlighted that users from certain jurisdictions such as Australia, Canada, Cuba, the Crimean Region, Iran, Japan, New Zealand, the Netherlands, North Korea, Syria, the United States of America and its territories, and any areas not controlled by the government of Ukraine, are not eligible to participate.