Saito Summer

Week 3 of Saito Summer brings key updates to our recent launches and introduces a game-changing new feature to expand the reach of Saito.

Reflecting on Saito’s progress in 2024 and throughout Saito Summer, we’ve achieved significant milestones – from Eth integration, to Swarmcast, to today’s upgrades, we’re consistently pushing the boundaries of Web3 technology and progressing our roadmap.

YouTube Integration with Swarmcast

Our latest work on Swarmcast will give users more flexibility and more power with YouTube Amplification. P2P Swarmcasters now have the option to pipe their content into a more traditional YouTube stream, enabling them to reach a wider audience while maintaining the core strengths of our more open platform.

In this setup, YouTube serves as an additional distribution channel, downstream from Swarmcast’s robust peer-to-peer infrastructure. This approach leverages existing platforms as utilities to amplify your decentralized streams, without relying on them. It demonstrates how Swarmcast can use traditional services to extend its reach while keeping control firmly in the hands of creators and preserving the integrity of our open ecosystem.

Roadmap and Tokenomics

The Saito Roadmap and Tokenomics structure has always prioritized organic adoption and price stability. The team is not funded through the printing of tokens, and as recently as September of 2023, we burned 2 billion tokens from the 10 billion total.

As we achieve organic growth the need for outstanding tokens diminishes. Significant progress with node and application stability, and native token transfers in the last year brought much is this growth. These were primary motivators for the burn last autumn.

2024 has brought more progress: increased application adoption, new features, new users and more transaction volume – our work leading up to and during Saito Summer so far has put us ahead of schedule. Yet the market has been slow to recognize just how fast Saito is moving, so our previous commitments to price stability are also in consideration.

With all of the above in mind, we have burned another 1 billion Saito tokens from the total supply. That’s 12.5% less tokens, for a total now of 7 billion Saito tokens.

We will revisit tokenomics in 8 – 12 months based on similar criteria. We hope to see many more new users enjoying Saito L1 by that time!

See our updated tokenomics for more details.

The post Saito Summer Week 3 Update appeared first on Saito.

To improve user experience buying SAITO on Uniswap, liquidity is being moved to a pool with a lower fee level. Fees are moving from 1% to 0.05% in the new SAITO/ETH Uniswap V3 pool.

To maintain and improve liquidity provision on Uniswap, the project will be moving liquidity from the V2 Uniswap SAITO/ETH pair, to the V3 SAITO/ETH Uniswap Pair. This is regular maintenance and protects against end of life issues for Uniswap V2 pairs and allows the project to better target liquidity. The upgrade will be performed on January 23, 2024.

NOTE: this post is about liquidity migration on Uniswap. It has nothing to do with ERC20 token migration to Saito Mainnet. We remind all users there are no plans to force token migration and the only migration tool available remains (https://saito.io/migration). Please be careful of scammers.

The post UPDATE: Uniswap Liquidity Upgrade appeared first on Saito.

As Binance has announced the end of life for BUSD we will be shifting liquidity on Pancakeswap to FDUSD on Friday, December 8. We will take the opportunity of the shift to upgrade to Pancakeswap V3 as well.

For community members providing liquidity on the BEP20 SAITO/BUSD pair we suggest you move liquidity onto the new pair when it is created. The Saito project will continue to guarantee minimum liquidity of USD 250K equivalent on the new SAITO/FDUSD pair.

The post UPDATE: Pancakeswap Liquidity Adjustment appeared first on Saito.

From a technical perspective, this shift marks the official point our hardcoded “genesis” issuance files become obsolete, replaced with a dynamic file that is re-generated from our live UTXO hashmap with each network hard-fork. In the interest of public transparency and to ensure that historical data is available for public scrutiny in the future, we have taken the step as part of our network update of ensuring token issuance files are archived and uploaded to our official Github repository with each reset. The team is continuing to monitor and test the network and integrity of these files as part of our ongoing development efforts, but is pleased to report that so far everything seems to be working perfectly.

In terms of changes that users will notice to the in-browser Saito experience, while our ERC20 token withdrawals continue to be handled manually, we are expecting to update a new application / UI-feature to the Saito Application Suite later this week that will speed up withdrawals by allowing for a greater degree of automation in the token migration process. We are hopeful this will assist us in getting withdrawal times down to about 12 hours from the 24 or so that it currently takes.

On a side-note, we should also mention that we are aware of the publicly-discussed issues with the Anyswap/Multichain ERC20 < – > BEP20 token bridge and recommend/request that users do not attempt to use the bridge until the situation is resolved. In the event of continued problems, we will work to update the aforementioned withdrawal tool to allow BEP20 tokens to be directly burnable and withdrawable to mainnet in a fashion similar to ERC20 tokens, thus avoiding need for the Anyswap bridge completely.

Beyond the changes that token persistence brings to the network and the application suite, there are questions of how it should affect tokenomics questions and what changes – if any – we should be making across the our Dawn of Persistence era. In order to address these questions, and present our own thoughts, the team will be having an update on Saito tokenomics at the end of September that will provide more detailed clarity on how we expect the token persistence curve to look, as well as update to the token distribution schedule to help incentivize on-chain migration as the threshold falls.

On a closing note, we remind readers that the entire crypto space is plagued with scams and to assume by default that anyone who contacts you with claims about migration is a scammer. If you’re not sure what is legitimate, please join the community on our Official Telegram Chat at https://t.me/SaitoIo.

The post Token Persistence Update – September 4, 2023 appeared first on Saito.

Liquidity ownership will be migrated from the existing wallet (0x7cef1f635c41e5a80946adac6724532026cc5285) to a multisig vault to improve security and better support future migration to Uniswap V3 and conform with project policy.

The project will move the liquidy over several transactions. Total liquidity in the pool provided by the project should not fall below current levels at any point.

The post NOTICE: Pancakeswap Liquidity Rotation appeared first on Saito.

Fortunately, there are alternatives for US based SAITO holders. As always non-custodial options, where users hold their own keys, are preferred:’

Non-custodial Options

1. Trustwallet 
   Fully supports SAITO ERC20 Tokens. The Android version also supports interactions with DEXs and other features.

2. Metamask
   Metamask also supports SAITO ERC20 tokens and can be used on desktop or phone. It can also be paired with hardware wallets such as a ledger.

3. Coinbase Wallet
   Coinbase wallet supports SAITO ERC20 and has customer service in the US.

Custodial Options

Bigone, Decoin, LBank, BKEX and Hotbit Exchanges all offer SAITO Markets.

The Saito team understands the importance of major centralized exchanges in providing liquidity and on-ramps to new and existing holders. We are in discussions with major exchanges to ensure the best experience and options are available to the Saito community in all jurisdictions.

The Saito team

The post Changes to gate.io services to US Persons. appeared first on Saito.

Despite this, we are delighted to announce that we have removed the last project provided liquidity from the BUSD/SAITO pair on Pancakeswap.

This means all revenue from liquidity provision on Pancakeswap is going directly to community members. We are grateful to everyone in the community who has stepped-up and supported SAITO this way and think the occasion is worth celebrating.

Many cryptocurrency projects create artificial rewards by dumping tokens into pools and handing them to “stakers”. At Saito we believe this lessens the value of tokens by inflating the token supply and makes it harder for the market to properly value an open network.

As outlined in our PancakeSwap Liquidity Program, we are committed to re-adding liquidity should the amount provided by our community fall. In the meantime in answer to the Telegram group favourite: “wen staking:” we are happy to note that the APY for liquidity providers on the Pancakeswap pair is currently 200%.

The post Community Take-over: Pancakeswap Liquidity Program Update appeared first on Saito.

387,240,275 ERC Saito have been moved from the Seed and Private Round Vault for distribution to Investors. We are glad to get these tokens to our supporters and thank them for their continued contribution to Saito.

Not all funds will be vested immediately. We would kindly remind anyone who has been sent and has yet to respond to a conversion request or confirmation emails that our Terms and Conditions require active response and that distribution may be delayed. We plan to process late responses on a weekly or bi-weekly basis to prevent late submissions from creating an unnecessary processing burden on our admin.

No SAITO have been distributed for other reasons since our previous update.

Circulating Supply

Vesting disbursements resulted in an 28% increase in resulting supply.

These tokens will be held in the Saito Holding Token Vault and are included in the Circulating Supply calculations.

An update will be provided on token distribution at the next substantive change.

Treasury Safes:

Saito Private Sale Token Vault

Saito Foundation Token Vault

Saito Contributor Token Vault

Saito Holding Token Vault

Yoast SEO

The post SAITO Token Distribution Update 2022-01 appeared first on Saito.

Liquidity Provider rewards available to the community are now over 35% APR.

It’s been a week since we launched the program. Participants can join the program by providing liquidity into the SAITO/BUSD pool on PancakeSwap. The project will guarantee minimum liquidity but leave space for the community to maximise returns to community liquidity providers.

We are super proud of how strong and engaged our community can be and happy to see that Saito holders and supporters are earning benefits from the trading activity. It is also fantastic that supporters with smaller budgets can purchase with significantly reduced fees. 

We would like to encourage our community members to stake their SAITO/BUSD tokens to improve the network metrics while simultaneously earning profits from the pool.

Token holders may provide liquidity to SAITO/BUSD pair in equal proportion on PancakeSwap here: https://pancakeswap.finance/info/pool/0xc595bea9ba58d0cada5fa287dda4f30517c3e1a4

Please make use of the following contract addresses BEP20 SAITO: 0x3c6dad0475d3a1696b359dc04c99fd401be134da

As always PancakeSwap is a DEX and users should ensure they understand fully what they are doing before committing any funds.

The post Over 10mil SAITO Wrapped on BSC appeared first on Saito.

Note: Please read out note on BUSD end of life. TL;DR: The project continues to provide liquidity support on Pancakeswap under the community liquidity program, but the pair has changed from SAITO/BUSD to SAITO/FDUSD.

Note: Please read our update on Anyswap before proceeding.

Today the Saito Team announces we have added USD 250k liquidity to SAITO on PancakeSwap (BSC). Full details are further down in this post, but if you are interested in buying or selling SAITO on BSC you can do so on this pool trading pair: BUSD/SAITO. (Info). (Please review the details below before trading.)

In addition to kicking off BSC trading, we are also launching a liquidity program that will allow early holders to earn rewards from trading activity. We call this the PancakeSwap Liquidity Program. It is designed to do three things:

• provide cheaper options to buy, sell and stack SAITO
• transfer income-earning opportunities to community members
• support the BSC ecosystem

How it Works:

• Saito guarantees a minimum liquidity on Pancake Swap (BUSD 250k)
• If liquidity goes over this limit, the project will “make space” for community members. 
• Saito will sponsor creation of an official liquidity farm for community members, when volume is sufficiently high.
• Saito will ensure maximum yield for supporters by not farming any project LP tokens.

Under this program community members can add and remove liquidity at any time. Saito will monitor the pool and step in to ensure the minimum liquidity is maintained in the event of withdrawals that drop liquidity below this amount. We expect to be able to take care of any needed deposits within about 24 hours.

We hope this announcement explains why it has taken some time to finalize liquidity provision, as well as the role that our ERC20 token plays in: with the total amount of SAITO in circulation capped, we cannot unilaterally provide SAITO liquidity on all markets without sourcing it. We have been working with backend partners to ensure liquidity provision and expect the market to receive larger deposits over the next week.

We hope that our approach here signals Saito’s commitment to its community not only to openness, but also by highlighting the way in which a zero-inflation token must behave when integrating with external markets. As our ecosystem expands, we require community members and supporters to assist. We believe this requires nurturing opportunities for token-holders to benefit rather than simply co-opting them ourselves.

Participation Details

The trading pair is BUSD/SAITO. (Info)

The BEP20 SAITO token contract is: 0x3c6dad0475d3a1696b359dc04c99fd401be134da created by the anyswap bridge. Be sure to confirm this contract address before trading. We will follow up with relevant providers such as Pancake Swap and coin-market cap to get appropriate branding applied. 

A price chart and trading history is available on Dex Tools

Project Saito was added on 2021-11-19 and 2021-11-22, and test trades made to ensure function. Some further trades have been made by unknown third parties, price is tracking other platforms.

As always PancakeSwap is a DEX and users should ensure they understand fully what they are doing before committing any funds.

DEPRECATED Obtaining BEP20 SAITO

ERC20 SAITO can be converted to BEP20 SAITO using the Anyswap Bridge.

Select which chain you wish to move to and from (Anyswap works in both directions) and select SAITO for Each.

NOTE: The SAITO will be deposited to the same address on the to (target) chain as it was received from on the from chain. 

MAKE SURE YOU HAVE READY ACCESS TO BOTH CHAINS BEFORE PROCEEDING.

If you are using Metamask this means having BSC enabled. Using Trustwallet or similar, make sure you are using a wallet mode that supports both BSC and Ethereum mainnet, or that you have both a BSC and Ethereum wallet configured from the same private key/seed phrase.

Anyswap is a decentralised platform and users should ensure they understand fully what they are doing before committing any funds.

The post Buying, Selling Saito live on PancakeSwap appeared first on Saito.