Saga is building SGA, a digital currency whose supply is algorithmically adjusted against a cash reserve to dampen price volatility. Unlike anonymous, freely floating tokens, Saga requires all participants to pass Know Your Customer checks, positioning the asset as compatible with traditional financial institutions. The project aims to occupy a middle ground between hyper-volatile coins and fiat-pegged stablecoins by allowing organic growth while still limiting dramatic price swings. The currency’s smart contract expands supply when demand rises and contracts it when demand falls, using the reserve as a buffer against market shocks. Saga’s founding team, led by Israeli venture capitalist Ido Sadeh Man and investor Moshe Hogeg, has assembled an advisory board that includes JPMorgan Chase International chairman Jacob A. Frenkel, blockchain researcher Prof. Emin Gün Sirer, and Nobel laureate economist Prof. Myron Scholes. The company plans to launch the SGA token in Q4 2018. Financially, Saga has secured a $30 million seed round, providing runway to finalize the product and execute its launch.

Total raised

$30M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2018