Layer1 blockchain Saga announces the launch of an incentive testnet and will conduct a token airdrop

ChainCatcher news, Layer1 blockchain Saga announced the launch of an incentive testnet called Pegasus. This launch is the first step in a six-part launch sequence planned for the full-featured Saga Protocol V1 mainnet, set to debut in early 2024. As part of the incentive testnet launch, Saga is rolling out an initiative where developers, end users, validators, and community members who participate in launch tasks and demonstrate helpful behaviors towards the Saga ecosystem will be part of the SAGA token airdrop.

It is reported that Saga allows developers to automatically launch parallel and interoperable dedicated chains that can elastically scale according to their Web3 application needs. With shared security, advanced validator orchestration, and standardized automated deployment pipelines across any type of blockchain virtual machine, Saga makes launching a dedicated chain or Chainlet as simple as deploying a smart contract. Previously, in May 2022, Saga completed a $6.5 million seed round financing, with a valuation of $130 million, and investors include Hypersphere Ventures, LongHash Ventures, Polygon Labs, Samsung Next, and others.