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Towards Worldwide Money

A token only becomes a currency once it is used by markets as a store of value and means of exchange. To date, no blockchain-based contender has achieved this goal. Adoption as currency is contingent upon the fulfillment of several conditions, chiefly: tamed volatility; regulatory oversight and efficient governance. Saga addresses all of these in its proposition for a new, global currency - SGA.

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The Building Blocks of Saga

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Stabilization

A monetary model to balance the growth with stabilization instruments

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Transparency

Daily reserve attestations by the banks that hold it

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Liquidity

SGA is fully liquid from the start, allowing 24/7 buying and selling directly from the contract

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Expectability

SGA prices are predetermined by the contract for any given number of SGAs in circulation

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Interest-bearing

The interest on the reserve is reflected back to SGA holders

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Compliance

Streamlined online KYC and AML onboarding process, compliant with FATF frameworks

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Governance

A framework designed for SGA Participants to be the sole sovereigns of the currency

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Hedging

Get access to an instrument that was only available to central banks

The Essentials to Building A Currency

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Stability vs. Growth: Taming Volatility

Saga’s model permits variation in SGA’s exchange rate. However, it also utilises a variable reserve to moderate fluctuations so that stability is not jeopardised by unsustainable growth. Saga’s model is deeply inspired by monetary instruments used by central banks to build the currencies we all use today.

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Efficiency vs. Representation: Governed by Participants

Native blockchain governance is not enough. Allowing changes only when there is full consensus, favours representation over expertise and efficiency. Forking as a result of decision making should be used only as a last resort. Saga has implemented a governance model that allows both direct representation and delegation according to the various use cases.

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Innovation vs. Compliance: Wide Acceptance

A true currency must enjoy a critical mass of acceptance before it can be used as a means of exchange. This can only be achieved if regulation is met and public policy concerns are answered. Saga works under a competent regulatory framework. While Saga is held in any ERC-20 wallet, buying or selling SGA directly from the smart contract is offered following a friendly, online onboarding process, which fully conforms with bank-grade regulatory procedures.

SGA Economy ChartinfoMove the line across the charts to see the SGA price and reserve ratio change according to Saga's market cap

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Partnerships

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News & Updates

17 December, 2019
Saga launches its cryptocurrency as Libra waits in the wings
01 June, 2020
Is Saga the future of stablecoin and a new monetary regime? [Interview with Ido Sadeh-Man]
16 May, 2020
Basket Currency Could Be the Answer to Hyperinflation, Says Founder of Saga
09 December, 2019
A blockchain firm advised by Nobel laureate Myron Scholes just launched a rival to Facebook’s libra
03 December, 2019
This Cryptocurrency Seems Designed For A Post-State Society
09 December, 2019
Saga Stablecoin Goes Live Backed By Basket of Fiat Currencies
21 June, 2020
Saga Developers Leverage Decades of Monetary Research in Hopes of Creating a Future Global Decentralized Currency
26 November, 2019
Everything Libra did wrong, Saga’s stabilized currency is doing right