Saddle Finance- Automated Market Maker for Pegged Value Crypto Assets

by Arthur · July 16, 2022

Launched in January 2021, Saddle Finance is one of the simplest and easiest ways to trade connected cryptocurrencies with the lowest slippage.

The crypto market has proven to be very volatile. With the collapse of the Terra ecosystem and the current bear market, we are witnessing a large volume of liquidity. Many investors who come in in the short term sell out, for fear of losing funds.

This has led to an increased need and need for connected cryptocurrencies. Pointed cryptocurrencies are currencies whose value is linked to an underlying asset. These include stack coins and wrapped BTC, to name a few. The associated asset may be fiat, a commodity such as gold, crypto, and algorithm coins.

Users must also face high slippage during asset swaps that end up losing market power. Saddle seeks to provide a platform to address these shortcomings.

Let’s take a deeper look at Saddle Finance, which provides a platform for trading fixed assets on cryptocurrencies.

Table of Contents

Saddle Finance in a nutshell

Saddle Finance generally offers a decentralized automated market-creating platform for users. The platform is built on the Ethereum blockchain on the mainnet, Fantom, Evmos and popular L2s such as Arbitrum and Optimism, and provides a platform for trading fixed cryptocurrencies.

What makes Saddle Finance stand out is that it provides a fast and efficient platform for traders. This enables them to swap their favorite associated assets with the lowest drop. It also provides liquidity providers with high-return pools.

The platform is built by industry specialists with many years of experience in the DeFi field. The team has background experience from Uber, Square and Amazon.

Key features

There are many DEXs that provide a platform to switch between thousands of tokens. But Saddle Finance offers a bespoke platform dedicated to connected cryptocurrencies.

The platform is able to provide this through its StableSwap algorithm. This allows it to give an AMM the lowest glide.

Higher security

Security is a crucial factor when it comes to any crypto platform. With the rise of cryptocurrencies and hacks, platforms are trying to incorporate best security practices.

Smart contracts are regular victims of errors, loopholes and attacks. To deal with such a case, the platform has a robust audit system. The platform has been audited by the best auditing firms, including CertiK, Quantstamp and OpenZeppelin. In addition, Saddles’ administrative keys are controlled by Gnosis Safe.

AMM and seating pool

Saddle’s Automated Market Maker feature performs trades automatically using liquidity pools and algorithms. The robots automatically state a price during the change 24/7. Using the Stableswap algorithm, Saddle tackles the slippage problem. It ensures liquidity and helps reduce slippage.

The whole automated process simplifies the trading mechanism. It helps by replacing the regular market players and order books with an automated system to ensure faster and cheaper trades and barter agreements.

Yield agricultural tools

Yield farming enables traders to earn passive income by putting their digital assets to work. Most users, on the other hand, are new to the DeFi world and have minimal experience of how to generate dividends from farming.

The various tools offered by Saddle Finance help users track and also manage rewards. The toll helps to monitor interest rates, rewards, liquidity and prices.

SDL token

Saddle Finance is growing, and the team is looking to jump into DAO management. veSDL is the official Saddle DAO governance token.

Ticker: SDL
Token standard: ERC-20
Maximum supply 1,000,000,000 SDL
The tokens will have an initial lockout period of 3 to 12 months.

The Saddle community will receive 51% of the entire token supply for liquidity recovery, community incentive programs, governance, etc.

The project team will receive 25.9% of the SDL tokens, investors will receive 22.5 percent, and advisors will receive the remaining 0.6 percent.

On June 23, 2022, the first earning phase of Saddle’s original token, $ SDL, came to a conclusion.

The community that supported Saddle by contributing funds to the liquidity pools will have access to tokens so that holders can trade and complete $ SDL transactions.

In addition, users will be able to bet $ SDL and receive incentives on saddle.exchange. Users who bet $ SDL will receive $ veSDL tokens in return.

Roadmap

Saddle Finance has laid out a whole bunch of visions for 2022.

Virtual Swap V2 – The platform is working on an improved version of its virtual switching function. This will reduce the collection time for the user to get their money and also smooth aggregator integrations.
Several hall pools – The team plans to launch Saddle pools on Optimism and also plans to bring them to various ecosystems.
Cross-Chain Features – The team recently launched at Evmos recently, highlighting its vision of expanding into a multi-chain ecosystem.
SDL token transfer – SEL is currently transferable and the team is looking to list it on important CEXs by the end of 2022.

Last thoughts

Saddle Finance now supports various related assets, including USDC, USDT, wBTC, wCUSD, wETH, LUSD, alETH, alUSD and DAI, to name a few. You can check out the full list of supported coins from here. It will also distribute more support for more coins soon.

The platform has also received investments from Framework, Polychain Capital, Electric Capital, Dragonfly Capital, Coinbase ventures and Nascent. Saddle Finance is the place to go if you are looking for a seamless currency exchange experience.

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