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Saga Reveals First Power Level Airdrop Above 9,000 With $10 Million In Tokens
Saga, a layer 1 blockchain with a focus on gaminghas recently created a lot of buzz for its mainnet and token launch by running a play-to-airdrop campaign and rewarding DeFi stakeholders on various networks. But the incentives don’t end there. Saga is now launching its next wave with a colorfully titled campaign.
The “Power Level Over 9,000” airdrop campaign, named after a “Dragon Ball Z” reference that became an Internet meme, was first revealed in April and is based on partnerships with more than 100 projects across various chains, Saga says, including games and more decentralized apps.
The campaign will distribute crypto token packages and NFTs from those partners to SAGA holders who stake their tokens within the network. On Thursday, The Saga revealed which has already taken the first snapshot of SAGA token stakers for the initial wave of “vault” rewards that will be sent to eligible users.
The snapshot was taken on April 26 at block 262,311 for the Saga network, and the network will eventually award 3 million SAGAs, worth about $10.2 million. current price of $3.40—to portfolios that meet the criteria.
Any SAGA user who has staked more than 101 SAGAs (over $340 in value at current prices), or anyone who has staked at least 95% of their SAGA Genesis airdrop since the April 9 mainnet launch, will earn a portion of the prizes. Genesis airdrop recipients who have staked at least 95% of the initial drop will also receive a 4x “loyalty bonus” for holding and staking their tokens.
It is not yet clear when Saga will distribute these initial “vaults” of token rewards, although the network team added that a complaint page will be opened approximately a week before distribution. Additionally, the “early deposits will be used to refine eligibility criteria” ahead of the partners’ larger planned slate of air launches.
According to SAGA, more than 30 million tokens went unclaimed during the Genesis airdrop, so this first vault drop represents approximately 10% of the remaining supply that will now be used for incentives. Another 110 million network tokens have been allocated for airdrops and prizes, the blog post said.
Additionally, Saga previously said it has lined up more than 100 partner projects across chains to contribute tokens and NFTs for future launches. Announced partners include the Avalanchebased first person shooter Splinteras well as Ethereum Games The sandbox AND Wildest world.
Saga is advertised as a “tier 1 to launch tier 1,” meaning the network is designed to allow projects to deploy their own dedicated chains rather than having everything built on a single core network. It is also designed to integrate with other chains, allowing projects to develop across networks and draw on Saga’s “chains” structure as needed to support their apps.
While they didn’t focus exclusively on games, about 80% of the testnet projects were focused on games, and Saga used gaming competitions as a way to distribute airdrop assignments.
Additionally, the team has launched its own internal game publishing division called Saga Origins, which plans to release games that are “provocative, expansive, [and] without compromise,” as CEO and co-founder Rebecca Liao said DecipherDD in April.
By Ryan Ozawa.