Saga Opens Vault Three To Incentivize SAGA Token Holders And Stakers
In Brief
Saga announced the initiation of Vault Three to reward dedicated SAGA stakers who consistently accumulate SAGA tokens through staking.
Modular blockchain platform Saga (SAGA) announced the initiation of Vault Three as part of its Power Level Over 9000 campaign. This initiative is created to reward dedicated SAGA stakers who consistently accumulate SAGA tokens through staking.
According to the announcement, all stakers will be classified into three distinct categories: all stakers, those with 20,000 staked tokens, and those in the 5,000 tier of stakers.
The first category encompasses all Saga stakes as of the snapshot date, which was captured on July 9th at block height 1377,540.
In the second category, top stakers are ranked based on the percentage increase in their stake, requiring at least 10 SAGA tokens staked at the initial snapshot taken on June 10th at block height 952,878. It’s important to note that recipients of the Vault 2 airdrop who staked less than 95% of their airdropped tokens were automatically disqualified. The top 20,000 stake ratio includes Vault 2 recipients and other stakers with more than 10 SAGA tokens staked at the start.
From the second category, the top 5,000 stakers ranked by stake ratio, who have also received the additional loyalty bonus, qualify for the 5K Tier Stakers Category.
Furthermore, Vault Three will encompass partnerships with various collaborators, including Another World, Couch Heroes, MixMarvel, DeGa, and A.N.O.N Pioneers Collection, offering extra incentives for stakers. Moreover, participants in the 20,000 stakers category will receive SAGA tokens in proportion to their stakes, with a maximum stake cap set at 22,000 SAGA tokens.
The Power Level Over 9000 campaign is an initiative launched after the Saga mainnet release, focusing on conducting regular airdrops to incentivize SAGA holders who stake their tokens, thereby enhancing the security of the Saga blockchain.
What Is Saga?
It represents a Layer 1 protocol that enables builders to craft VM-agnostic, parallelized, and interoperable blockchains called “Chainlets.” These Chainlets offer applications a horizontal scalability by leveraging shared security, advanced validator orchestration, and a standardized, automated CI/CD deployment pipeline throughout different types of blockchain virtual machines.
Its utility token, SAGA, functions as a native token within the Cosmos ecosystem, fulfilling various roles. Among them are governance, staking, and payments for Chainlets to network validators for starting and maintaining their operations. The total supply of SAGA tokens is limited to 1,000,000,000 SAGA, with an initial circulating supply of 90,000,000 SAGA, representing 9% of the maximum token supply.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
