Saga

Saga is a layer-1 blockchain specially designed for Web3 gaming applications. It enables developers to create parallelized and interconnected dedicated chains for applications that can dynamically expand in response to the requirements of their Web3 applications. Saga simplifies the process of launching a dedicated chain, known as Chainlet, to be as straightforward as deploying a smart contract by implementing shared security, advanced validator coordination, and a standardized automated deployment process compatible with various blockchain virtual machines. 

The protocol launched its incentivized testnet named Pegasus in October 2023, as part of preparation for the full-featured Saga Protocol V1 Mainnet. Pegasus is designed to support the development and deployment of Chainlets for game creators on the Saga protocol. In addition, the testnet features a security chain and a platform chain, where developers launch and maintain their Chainlet. In April 2024, it launched its mainnet, Saga Mainnet Phase One, with over 350 projects. The mainnet enables developers to scale their infrastructures, offering gas-free transactions, automation, interoperability, fast bridging, and a flexible stack across multiple chains while enhancing user experience.

In addition, Saga launched Saga Origins, a new division dedicated to Web3 game publishing. It will assist developers by offering support for launching games, user acquisition, community building, and marketing initiatives.

Funding and financials

In November 2023, the company raised USD 5 million in an extension of its seed funding round led by venture capital firm Placeholder, with the fresh funds earmarked towards launching Saga's mainnet, which is planned to go live in January 2024.