San Francisco, United States, June 24, 2022, Chainwire
Saddle. Fundingthe Multi-Chain Distributed Automated Market Maker (AMM) will complete the first phase of the initial entitlement, its $ SDL, on June 23, 2022.
All members of the community who assisted Saddle by providing funds to its liquidity pools will have access to their tokens, allowing holders to trade and transact for $ SDL.
Users will also have the opportunity to bet $ SDL and earn rewards saddle.change. By betting $ SDL, users get $ veSDL tokens in return.
Users can also trade SDLs or provide liquidity to us SDL / ETH paired with SushiSwap
Saddle’s solid tokenomy and community governance
Inspired by the popular non-voting model, $ veSDL is an administrative ID that allows the Saddle community to manage the protocol. Stakers are allowed to vote and control the $ SDL supply, which is added to the liquidity pool.
Saddle’s tokenomics were designed so that $ veSDL decays linearly. Thus, users are encouraged to keep their invested funds because investing when the token price is lower maximizes the return on investment. Another advantage of this structure is that the sales pressures of the SDL logo are significantly reduced, which promotes healthy and sustainable pricing.
Although not part of the current proposal, Saddle is working to create more initiatives with the support of its community. These milestones include the transition to chain management, the increase in liquidity of $ SDL through Tokemak, and the introduction of a new metric that will allow stakeholders to opens up additional yield increases.
Saddle also plans to issue bonds through Olympus Pro to generate more protocol-owned value, launch lending operations against liquidity providers, increase leveraged yield cultivation through Rari Capital’s Fuse, and collect airdrops and administrator fees from selected SEMPI partners.
Finally, the team also includes improvements to its roadmap to virtual swaps, the launch of new liquidity pools for $ SDL investors, and a new service where users can deploy their own customizable Saddle pools.
Saddle is an AMM-based distributed exchange (DEX) available in the Ethereum, Fantom, Arbitrum, Optimism, and Evmos block chains. Saddle has eased more than $ 2 billion in transaction volume to date.
Saddle’s DEX is specifically optimized for trading stable coins and bound value cryptographic assets such as wrapped Ethereum (wETH) and Bitcoin (wBTC). The protocol has an easy-to-use interface, making it ideal for both beginners and experienced DeFi investors (decentralized financing), and all trades are fast, cost-effective and have minimal slippage.
The values of the Saddle team are rooted in community building, decentralization, and raising DeFi space. The team aims to bring AMMs into any blockchain as well as bring tied asset swap primitives across DeF, and is supported by several well-known venture capital firms such as Coinbase Ventures, Framework, Polychain Capital, Dragonfly Capital and others.
Saddle’s code is 100% open source, and the team welcomes everyone to participate in its protocol. Through the recent SEMPI initiativeweb 3.0 developers are encouraged to join Saddle’s mission and develop the protocol on top of it or combine it into alternate layers.
Another major selling point of Saddle is its strong security. All of its smart contracts have been thoroughly audited by leading blockchain security companies such as Certik, Quantstamp and OpenZeppelin.
h/t – CryptoGlobe