Saito Summer Week 3 Update

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.