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 fulfilment 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.
We are witnessing the ever-increasing growth of a global economy: of nation-less products, services and corporations. But this economy does not have a currency tailored to its needs - existing currencies (FIAT) are designed primarily to meet the monetary goals of national economies. Saga does not seek to replace any currency, but to complement and propose a solution for the unattended global scope.
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.
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.
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. Working under the Swiss regulatory framework, Saga performs a friendly, online on-boarding process, which fully conforms with bank-grade regulatory procedures.
Saga seeks to expand its partnership network to allow an optimal fulfillment of its vision
Saga’s liquidity model allows both buying and selling SGA from/to the smart contract. SGA will be launching soon, subscribe to get updates on our release.