Meet Sögur (SGR): The Evolution of Saga (SGA)
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We are excited to announce that our partners at Saga (SGA) are officially rebranding to Sögur (SGR) on 9 September. From this date, the SGR token is replacing the SGA token on our platform - we have outlined below how holders can exchange to the new token. But first, let us introduce you to Sögur.
Who is Sögur?
Since Saga was introduced over three years ago, the world and the crypto ecosystem have undergone significant change. Naturally, as we have all had to evolve and adapt to our new normal, so too has the Saga project. That’s why we would like to formally introduce you to Sögur.
What is SGR?
SGR by Sögur is a digital coin built to provide a self-sustaining, democratic and global currency. An algorithmic monetary model exposes SGR holders to carefully modelled volatility - using stabilisation mechanisms to temper risk in fast-changing and unpredictable market conditions, while creating an opportunity for sustainable intrinsic value growth, thanks to the bonding curve model.
A unique advantage of Sögur is that the prevailing price of its SGR token as offered by its market making protocol is predictable based on the state of its underlying network. Sögur’s monetary model is transparent, deterministic and predictable.
SGR in a nutshell
- SGR is set apart by a bonding curve market maker, which is modelled to control and mitigate volatility exposure and value loss through risk stabilisation mechanisms - while also creating an opportunity for sustainable intrinsic value growth.
- SGR holders are the currency decision makers, and enjoy democratic voting rights over how SGR operates now and as it continues to evolve.
- SGR is the democratic evolution of digital coins, possessing the essential attributes required to be adopted as a global currency, while allowing sustainable intrinsic value growth - with transparency and predictability written into the project’s DNA.
You can find more information about Sögur and SGR here
How should I exchange my SGA balance?
All SGA holders are invited to exchange their SGA balance to SGR. The exchange is possible once the SGR token goes live - September 9 at 09:00 AM GMT. The Exchange ratio is 1:1, i.e. every SGA token can be replaced with 1 SGR token.
If you hold your token on an exchange you don’t need to do anything. Your SGA balance will be replaced automatically by the exchange to SGR.
If you hold your SGA token in an address you control (i.e. you have the private key associated with this address) you can exchange your SGA tokens to SGR in two ways:
- Send your SGA tokens to Sögur’s swapping address as shown on Sögur’s website (or use ENS:swapSGA.SGR.eth). Sögur will return to the sending address the same amount of SGR tokens within 24 hours.
- Use a dedicated exchange smart contract - SGAToSGRTokenExchange (address 0xc68c66c8bc7de6e4a528fe79305e1ddc9822dc9d). This option is relevant for more advanced users and it allows the tokens to be swapped immediately. In order to make the exchange you should call two transactions:
- Approve the exchange smart contract to spend SGA tokens on your behalf. This is done by calling SGAToken.approve(SGAToSGRTokenExchange.address, -1)
- Execute the exchange by calling. SGAToSGRTokenExchange.exchangeSGAtoSGR() this call will withdraw your SGA balance from your wallet and replace it with the same amount of SGR tokens.
Sögur - formerly known as Saga- is the project behind the global digital currency SGR (previously SGA), a currency designed to be the democratic evolution of money. SGR is modelled to incorporate the volatility crypto markets seek - based on a bonding curve model, which creates opportunity for intrinsic value growth while also using stabilisation mechanisms to temper risk of value loss in unpredictable market conditions. The SGR economy was built to grow and self-sustain; to be steered by its holder community; and to be the true evolution of money.
Sögur is introduced by Saga Monetary Technologies Limited, a UK company, limited by guarantee, working under not-for-profit principles. It is governed by applicable UK laws and regulations and has adopted KYC/AML procedures compliant with the strictest international standards and regulations. Ido Sadeh Man founded Sögur in 2017, and his team today includes Barry Topf (chief economist), Dr. Ron Sabo (chief scientist), and many others.
Senior members of the Sögur Advisory Board include Prof. Jacob A. Frenkel, PhD, chairman of JPMorgan Chase International and former governor of the Bank of Israel; Prof. Myron Scholes, Nobel laureate in economic sciences and professor emeritus at Stanford University; Leo Melamed, former chairman of the Chicago Mercantile Exchange (CME); and Prof. Dan Galai, PhD, former dean of the School of Management at Hebrew University Jerusalem.
Accredited partners including Lightspeed Venture Partners, Mangrove Capital Partners, Vertex Ventures, Disruptive, Lool Ventures, and others have already demonstrated confidence in Sögur’s vision by participating in its $30M seed funding. This funding has made possible the launch of the Sögur token and the first steps toward the realisation of Sögur’s vision for a fair and reliable global currency.