Avoid Scams! Saito Token Migration is not required! You may safely keep wrapped tokens.

Today we’re happy to announce that the migration tool to mainnet has been extended to include BEP20 Saito tokens on the Binance Smart Chain. Migration is not required, and anyone interested should first familiarize themselves with the details.

When we launched Saito, the AnySwap Bridge was a reliable tool to move wrapped Saito tokens between the BSC and Ethereum networks, but has since become unreliable. We remain fully committed to supporting both the ERC20 and BEP20 Saito tokens, and while this upgrade to our migration tool does not replace the Anyswap Bridge, it does allow holders on BSC the choice to migrate to the native Saito Network.

Token migration is not required, and at this stage we only recommend it for advanced users. If you choose to migrate your tokens, be sure to double check you are not falling prey to scams – use the correct migration link: https://saito.io/migration/. Please note that migration is currently only one-way.

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Avoid Scams: Saito Migration is not mandatory – your wrapped tokens are safe to hold.

Today marks the completion of the first Saito ATR cycle, and as promised last autumn, early holders of native-chain Saito have received their first project ATR rewards. Those who have previously chosen to migrate can now see their increased balance on the explorer.

Our Token Persistence Update and Tokenomics update last autumn defined a persistence curve for minimum supported balances over time – it also marked the release of our ERC20 bridge, which has seen many dedicated Saitozens crossing onto the native chain. As a reward for early migrators, 5% APY will go to native wallets – disbursed from the project every six months.

Avoid scams! There is no need to migrate! Those insistent on doing so should double check via the Wiki and Official Telegram that they are using the correct address to bridge: https://saito.io/migration/.

We thank our community for their continued support and for taking part in the earliest periods of our revolutionary network.

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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.

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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.

Although few people ask us about WASM, this is a rather important milestone for us as a community and software platform. Having browsers use compiled Rust code for the core cryptographic and blockchain operations will not only speed up a lot the underlying activities like transaction signing and hashing that are slower in javascript, but it will also return us to having a single codebase for consensus operations.

The massive benefits of having the network run a single codebase is one of the reasons we have pushed to get WASM done ahead of token persistence. Simplifying the codebase so there is a single software stack to upgrade greatly reduces load on development, making development quicker and preventing accidental forks and other anomalies.  It is also going to be necessary for further work on the consensus-layer, including features like (eventually) adding scripting languages, support for multisig operations, on-chain NFT transfers and more.

Right now we are in the final stages of testing the WASM branch in preparation for deployment later this week. Depending on how testing goes, we’re expecting to get the WASM version up in five to seven days. Particular thanks and credit are due to Sanka for taking leadership on getting this integration done. We could not have done this without him.

Our WASM port currently supports all of the major applications that we’re seeing people use on the network: peer-to-peer video calls, RedSquare, the Arcade and of course most of the games on the network. As part of the shift, we are likely to remove some of the games that are not seeing much usage with a plan to refactor them and bring them back to the one-by-one with more polished graphics and improved gameplay.

We are aware that many members of the community are focused on token persistence and thus are also happy to share the news that we still expect to hit our target of getting that supported for large on-chain deposits by the end of next month. We’re planning to get the exact details out for the community in about a month, with an update on network tokenomics about a fortnight later towards mid-September.

In the last few months we have also made significant changes to the way that the application platform works, tried to improve the usability of RedSquare and the chat applications, and completely re-written how the Archive module allows nodes to store and load transactions received both onchain and off-chain. This work has been done to assist with executing the various projects we have in different stages of completion.

As always, we thank everyone in the Saito Community for their patience and support. If you have questions or just want to talk show, please feel welcome to drop by RedSquare or join our Telegram Group and ask them in person.

The post Saito Development Update – July 2023 appeared first on Saito.

To prevent non-performance from adding uncertainty to network tokenomics, we kindly remind anyone in this situation that any outstanding work should be completed by April 22, 2023 as per our updated Terms and Conditions.

We are expecting to continue our hardcapped zero-inflation 3 billion SAITO token supply for at least the next 12 months, until our work on rolling out and testing token persistence is advanced and we can evaluate the effectiveness of different faucet-powered distribution strategies at driving network growth.

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A lot of historical work on the ‘Saito application stack’ over time has been experimental and exploratory. We have been pushing the boundaries of peer to peer blockchain applications. This led to a platform with prototypes, unused features and layers of incremental design.

Recent development work has focused on RedSquare and the Saito Arcade in a refactor designed to fix this, resulting in a trimmer, tighter set of functions. Significant changes have been implemented to how cross-module UI elements are created and displayed, and inter-module interactions are easier to program. We have also improved some base level features like transactions are compressed, shrinking them to improve the speed and responsiveness of applications.

For anyone following the overarching project roadmap, our refactoring work is part of our efforts to “dogfood” application development in order to improve the usability of our application suite and development tools, as part of a long-term strategy to increase transaction volume and spearhead broader adoption.

With this refactor largely complete, we are now focused on simplifying and improving the quality of the user-facing experience, such as by adding ‘Web3 login’. This is a simple backup-and-restore option that hides behind a familiar web2 login. This work is accompanied by fixes to identifier management and a visual refresh to the sidebar menu and wallet, creating a much better and more persistent user experience. We are currently stress-testing the login system but believe this kind of “easy wallet restoration” will be key to driving mass adoption of RedSquare and game leagues.

Another feature we have spent considerable time on improving has been peer-to-peer video calls. Team members have moved almost all two-person meetings to Saito Video Chat, and are using our experiences to keep improving stability and usability. Two person calls are currently stable and we are focused on improving automatic reconnection and other features that become critical in group calls. If you are looking for a great way to help, please assist by testing this feature on your mobile devices and report to us if you have any problems.

Ongoing Work

Core work continues to replace the consensus code in our javascript-stack with a WASM implementation compiled from the Rust codebase. This will make in-browser applications faster. In the distant future, WASM (web assembly) will also allow developers to plug applications written in other languages into the Saito web stack.

Our gaming work is focused on improving the leaderboards and adding high-scoring tracking for single-player games. We are sweeping through existing games to improve the UI/UX, and trying to find time for new games including Realms – the open source card-powered enchantment game being driven by community development., We are also making updates to how our digital library module works to provide necessary support for on-chain vintage game and ROM management.

Finally, with the new slide-in wallet moving towards completion we are refactoring 3rd party crypto support to try and improve its reliability and quality. We expect that this will take some time, but expect the result to be much more usable and reliable platform for storing third-party crypto, particularly when combined with the ability to recover accounts with the “web3 login” feature.

As above, we are now regularly posting updates and interacting with community members in Saito RedSquare. This is the best place to stay up to date, participate in the process of identifying and discussing our priorities, and of course experience Saito while you are there.

The post Saito Development Update – March 2023 appeared first on Saito.

You have to provide your own legal ROMs, but once you do an encrypted copy will be saved to your transaction archive so you can skip this step the next time around. We’ve patched the emulator to support social features like text and video chat and hope to hook up screen-sharing and head-to-head 1P gameplay too.

Looking forward, we are getting legal advice on the viability of supporting a lending library similar to the Internet Archive that permits limited archival access to library-owned games. There are legal ways to accomplish this, and by going through the effort of making sure we do it properly, we hope that Saito can demonstrate value as a base-layer for open DRM use-cases. If people want to control the distribution of works they have the right to distribute, we believe Saito should let them be able to do that.

We are expecting clarity in the coming weeks. If you want to help in advance please drop a line, especially if you have experience with electronic engineering and Arduino hacking. Once we know how to move forward, we will likely ask for help sourcing game cartridges.

While we may not be able to resurrect Blockbuster, we believe that supporting secure remote-file access and digital lending is a great use-case for blockchain. It serves a valuable social mission in keeping older software accessible while also permitting anyone with the legal right to share works with a reliable platform through which they can manage access. We look forward to sharing more details as we work them out.

And in the meantime, you could do worse than snagging a copy of Episode I: Racer and setting some new lap records.

The post Nintendo joins the Saito Arcade appeared first on Saito.

Organization:

Our core team has seven developers and two non-technical staff. We have funding for more than two years without further token sales in the event of a prolonged bear market.

We are seeking marketing help, but need someone who understands Saito. Before we find an on-team marketing genius, we’ve shifted to releasing features as they develop rather than planning marketing activities. We think this approach plays to our strengths.

Front-End Development:

Our transaction volume is dominated by gaming applications but chat and social media usage is growing. Our development focus is on improving the Saito Arcade and Red Square.

We are aware of the limitations of these applications and are putting effort into fixing them. We are systematizing components so that common behaviors trigger consistent responses, and working on ways to make it easier for people to participate in group activities like tournaments and leagues. We also have longer-term games and projects under development.

Short-term priorities include browser-to-browser connections for off-chain transaction exchanges, a digital-rights-management module for electronic gaming, and several new applications and games we have previously discussed. A more long-term focus is a platform re-write to simplify the developer SDK.

Rust Client and Token Persistence

Our Rust team has remained focused on our WASM client, a version of Saito able to compile directly into user browsers as well as run on many other devices. This is our long-term platform intended to eventually replace our existing javascript frontend. We are happy to confirm the Rust (WASM) client is active on the Saito network.

We want this client to have at least six months of experience running in a live environment before we use it to maintain token integrity across network resets in a live network with ATR rebroadcasting. In the meantime, our Rust team will work on a variety of improvements intended to increase performance and improve security in low fee-throughput situations. We will publish details on consensus-level proposals over the next four month and continue to welcome feedback and suggestions on mechanism design.

This timeline puts the launch of token persistence in eight months: summer 2023. Token persistence will start by offering guarantees for large on-chain deposits (500k SAITO or more) and gradually lower the reaping threshold as software and network stability permits. We expect it to take approximately a year to reduce the threshold to levels needed for common commercial transactions.

Tokenomics and Staking

The introduction of on-chain token permanence will see an additional ~11mm early bird SAITO tokens enter circulation. We are otherwise reluctant to expand issuance without evidence that doing so will drive growth.

One possible exception — we may introduce a staking subsidy from the network treasury to cover rebroadcasting fees for users who migrate their tokens on-chain in the event that rebroadcasting fees are greater than rebroadcasting income during this period after token persistence is added but before the advertising faucet is generating network revenue. The community should not expect DeFi games with incentivized lock-ups and APY guarantees: we believe those who earn UTXO payouts should be incentivized to promote network usage.

Front-end work on the advertising faucet will commence after token persistence begins, likely around ten months out. We will use the high reaping threshold to experiment with small-value issuance without the risk of such issuance triggering monetary inflation while the faucet matures. As our reaping threshold falls the most popular applications and routing nodes will gradually be able to accrue income.

Exchanges:

We are happy to confirm we have listing offers from significant exchanges. With that said, these mostly involve invitations to give them non-trivial payments for the right to hand over even more significant allocations to dump on their users. There is a reason most exchange-listed tokens drop in price and we do not want to play that game.

We believe that Saito will grow into a premiere crypto-asset and that exchanges will ultimately list Saito on far better terms. Given this, as long as our token price and market cap is rising, we believe it hurts the interests of our community to pursue these opportunities, not to mention reduces the income trading generates daily for Saito holders via liquidity pools.

Saito also has many options to simply purchase that other networks to not. A low-fee crypto brokerage that runs within the Saito ecosystem and plugs directly into Red Square and the Saito Arcade is one idea we are considering, as it will expand trading support not only to our own token but for all partner tokens that can be stored in Saito wallets.

As such, we are punting on further listings activities until we have a full-time marketing hire who can handle these communications and remove the need for Richard and David to be involved in this outreach. We are assuming it will take approximately six months. If the situation changes and a listing becomes more desirable we can easily reverse course.

Third Party Nodes:

We are periodically asked when third parties can run nodes on the network. As per our existing roadmap, we will not push for that in this era as we expect this will slow not hasten network and software development.

With that said, if third parties wish to run transaction-generating infrastructure we will welcome them to participate once token persistence is active, provided they are willing to work with us on scheduled network upgrades.

Summary:

This gives us roughly a year-and-a-half of development work before we will be ready to move into the Third Era. The seminal moment will be the introduction of token persistence roughly halfway through this era.

We welcome feedback on these plans along with broader discussions of our strategic goals and choices moving forward.

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