Additional numbers about the growth of the Solana blockchain have come out, and the Solana-powered DeFi token called Saber ($SBR) seems to have gained a whopping 22000% value increase in the past seven weeks. According to CoinGecko, the Solana-based DeFi token had a registered value of $0.0022572 on July 19, 2021. It was also the lowest point Saber has ever reached. Now, seven weeks after the lowest point, Saber reached a value of $0.500170 on September 6, 2021. So, in the past 24 hours itself, the DeFi token has gained 69.9% more value. It is worth noting that the Saber token has achieved this growth despite being available on only two decentralized exchanges.
What Is Saber?
Saber, which stands for Saber Protocol Token, was introduced on July 13, 2021. The developers launched it with two objectives: directing the development of the Saber protocol and aligning the incentives for Saber stakeholders. It is clear that the Saber platform aims to become self-reliant in the coming months. Keeping this strategy in mind, the parent company has also diversified its token distribution. Of the 10 billion tokens that Saber could ever have, 31.42% is dedicated to mining reserves, while partnerships and ecosystems will take up 25.10%. Similarly, teams and advisors will access 19.58% of the tokens, while Strategic Fundraise accounts for $15.48% of the maximum supply. Last but not least, the protocol has set up a Liquidity Reserve that has been allocated 8.42% of the tokens.
Minimal Transaction Fee
The Saber platform has accomplished many achievements since its inception in June. For instance, the Saber platform is now a leading cross-chain stable coin and wrapped assets exchange running on the Solana chain. In addition, the platform promises that traders can enjoy smooth and secure trading transactions while paying only a minimal transaction fee. It is expected to attract traders who want to consider multiple trading pairs for their crypto asset management. Similarly, Saber claims to be an innovative platform for those willing to provide liquidity for the market. These investors will yield income from transaction fees and the standard incentives for liquidity provisions.
StableSwap and More
Last but not least, developers can use the Saber platform as a DeFi element that they can integrate into any DeFi protocol or app based on the Solana blockchain. Due to the simplicity of the block design, developers will find it more accessible to make Saber a part of their decentralized apps or protocols. The team behind Saber started with StableSwap, which made it easy to trade between the native and wrapped versions of a crypto asset. However, during the launch of StableSwap itself, the Saber team had added that it would explore a few other areas in the crypto ecosystem. Now that the Saber token is soaring like never before, Saber seems to be delivering those promises.
As is the case with any other crypto asset, Saber may take a different route in the coming weeks or months. However, investors may consider Saber as an option, provided that the platform is leveraging the gap areas in the DeFi and crypto ecosystem.
