According to a press release, Saga’s goal is to create a stabilized currency for global usage. It aims to accomplish this without the friction and volatility of other digital assets. Saga aims to achieve four main characteristics that will help SGA become a viable form of global currency:
The SGA token, fully compliant with the ERC-20 token standards as well as global regulatory frameworks, is backed by a basket of national currencies, which will ideally reduce price volatility. The reserve ratio is anticipated to gradually decrease as user adoption increases and the price becomes more stable.
The way Saga is built, Saga Contracts act as SGA liquidity providers and ensure that the token’s value stays within the pricing model’s range.
“Some of the current players in the cryptocurrency ecosystem seek to reject the established financial system; to sit separately from, and replace fiat currencies,” comments Founder & Chairman of the Board Ido Sadeh Man. “Saga’s goal is to be the bridge between the crypto ecosystem and the establishment – harnessing blockchain technology to complement fiat currencies by creating a new truly global currency. Saga is partnering with financial services institutions new and old, building on the successes of central bank currencies and evolving them for the digital age.”
SGA can then be bought from the Saga contracts until the model’s ask price matches the secondary market price, allowing for a self-regulating money supply without drastic swings in either direction. If you’d like to learn more about Saga and the SGA token, feel free to reference Saga’s Monetary Model.
The post Economic Powerhouse Team Saga To Launch Its Saga Token (SGA) appeared first on CoinCentral.
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