Sirwin
Sirwin
Ethena Labs $ENA On Binance Launchpool - Sell Or HODL?

SAGA On Binance Launchpool - Sell Or HODL?


Binance has just announced the next project for Binance Launchpool. Starting on the 5th of April, you can farm $SAGA by staking $BNB and $FDUSD in two separate pools.

Here are my thoughts on the latest Launchpool project.

The New Launchpool Model

I believe that the Binance Launchpool has made significant improvements in recent months due to a change in the vesting model at the end of last year.

The farming period has become much shorter. For the current $SAGA tokens, for example, the farming period is only four days. In the past, you could farm tokens for an extended period while trading for the new token was already open. 

With the new Launchpool model, trading for the new token starts after the farming period has already ended. These two relatively small modifications made to the Launchpool have resulted in significant improvements. In the past, Launchpool projects felt more like a constant dumping but now it has the feeling of an airdrop.

In preparation for the $SAGA Launchpool on Binance, make sure to have your $FDUSD and $BNB ready.

What Is SAGA?

SAGA is a Layer 1 to launch Layer 1s. In other words, Saga is a protocol mainly made for developers. This is also the easiest explanation that I could find. Also, Binance is just saying that SAGA is a Layer 1 to launch Layer 1s. Then it quickly gets complicated.

 

My Final Conclusion

First of all, I am just a normal user and not a developer. Personally, I will never use SAGA to launch a Layer 1. When considering investment opportunities, I only invest in projects that I fully understand. If a project cannot clearly explain what it is all about and how it works, then I cannot invest.

There is only one thing that I know for sure. Farming new tokens on Binance Launchpool is always worth it, no matter if you sell them right away or if you hodl them for the long term. If you can not farm tokens on Binance Launchpool because you have not yet registered on Binance then please consider using my referral link with the invitation code E3PGAJCE to sign up. Using it saves you trading fees for each trade on Binance, a classical win-win situation.

I hope my post provides valuable information, but it should not replace your #DYOR. Please note that, while I may appear knowledgeable in my profile picture, I am not a licensed financial advisor.

Thank you for reading! If you enjoy this type of content, follow me here on Publish0x for more. You can also follow me on Twitter/X and Medium.

You may also like: The Binance Labs Investment Observer - Four New Incubation Projects Announced!

 

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