Saga
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Saga in numbers
Saga ranks #1049 by market capitalization, at $10.05M. It belongs to the Networks sector (Layer-1). It has traded since Mar 18, 2024, across 8 markets on 14 exchanges, with $23.87M of volume in the last 24 hours. Its all-time high of $7.43 was reached on Apr 9, 2024; the current price is 99.8% below that peak. Its cycle low of $0.0118507 came on Jun 10, 2026.
465.01M SAGA are in circulation. 31 investors are recorded as backers, including GSR, Polygon, Maven 11 Capital. 4 team members are listed.
About Saga
Saga is a protocol designed to allow developers to launch application-specific blockchains called Chainlets via Realms, each of which is made up of (i) a security source (the chain from which security is derived), (ii) obligations (the rules by which validators operate), and (iii) technology (including the virtual machine and consensus algorithm used). The Saga Chainlet Realm is Saga’s first Realm, as well as its intended main realm, though Realms for partner protocols such as Ethereum, Polygon, Avalanche, and Celesita are also intended. The three core components of the Saga Chainlet Realm are described in further detail below:
Background
Saga was founded in late 2021 by Rebecca Liao, Jin Kwon, Jacob McDorman, and Bogdan Alexandrescu to build “ a protocol for automated deployment of application-specific blockchains in gaming, entertainment, and DeFi.”
Notable milestones in the project’s history include:
As of May 2024, the Saga protocol is in Phase 1 of a six-phase roadmap regarding the development of the Saga Chainlet Realm whereby (i) the platform chain and Chainlets launched from the platform chain are secured by four “foundation validators” rather than Saga Security Chain (SSC) validators. (ii) Deploying a Chainlet is permissioned and can only be done by parties onboarded to the Saga Innovator program by paying in pSAGA, an entirely separate token from SAGA, the subject of this report. (iii) Only Chainlets built with the Cosmos SDK using (a) the CometBFT consensus mechanism and (b) an Ethereum Virtual Machine (EVM) module can be deployed. Of note, some of the above information was only discussed in the project's Discord and not in its official documentation. To view Saga Discord message links, one must have already joined the Discord channel. For a full overview of the project’s six-phase progressive launch, see the “current and future project decentralization,” section of this report.