Let's see where it goes....
Let's just say. This particular crypto gave me the same feeling as Ripple did back when I bought it at .004 cents.
It has pretty good coverage right off the bat on CNBC and others. So their marketing team is doing a good job.
go check out their sales pitch and what the articles say.
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The company on Tuesday launched its saga (SGA) token, a virtual currency tied to a basket of currencies in order to maintain a stable value. That’s not too dissimilar to Facebook’s libra, which was met with a barrage of regulatory opposition moments after being announced. But one key thing that sets it apart from that project is what Saga bases the currency’s value on.
Rather than creating a new asset basket like libra’s, Saga is pegging its token’s value to bank deposits in the same group of currencies that form the International Monetary Fund’s special drawing rights (SDR) — these are international reserve assets held by central banks to supplement their official reserves. The basket is heavily weighted in dollars, as well as the euro, Chinese yuan, Japanese yen and British pound.
Another distinction with libra is the fact that Saga won’t be profiting from it. It’s only acting as an issuer of the token, rather than building its own digital wallet for users to store and exchange it like Facebook is doing with Calibra. The SGA tokens will initially be available to purchase on Saga’s website and is being listed on the cryptocurrency exchange Liquid.
“Unlike other players, we don’t want to be the issuer and the payments layer and the custodian,” Saga founder Ido Sadeh Man told CNBC in an interview. “We’re focusing on the monetary part of it, on the issuance of a sound currency for global use, and we will increasingly liaise with partnerships in the realms of custodianship and of payments.”
Like libra, SGA features the characteristics of a so-called stablecoin, which seeks to avoid the volatility of cryptocurrencies like bitcoin. Saga says it can stabilize the value of SGA with smart contracts — self-executing contracts on the blockchain that are used to adjust the money supply in order to meet demand.
As for how it will be used, Sadeh Man said the objective is for SGA to serve as a “complementary currency for cross-border payments.” He gave the example of British consumers wanting to use it to pay for things on
Amazon if the pound fluctuates in reaction to Brexit-related news. “This is where we see saga fitting in as a global currency.”
it's basically like Libra but instead of being owned by Facebook or one owned by Ripple they have a custodial company holding all their tokens and only release when there is demand.
plus There is only 8 billion tokens compared to Ripple's 100 billion.
I'll probably buy some when they come out.
The website is Saga.org sticker symbol will be SGA
Do not get them mixed up with Sagacoin.net. Sticker symbol SAGA