Launched in January 2021, Saddle Finance is one of the simplest and easiest ways to trade pegged crypto assets with the lowest slippage.
The crypto market has proven to be very volatile. With the downfall of the Terra ecosystem and the current bear market, we are seeing a large volume of liquidity. Many investors coming in the short term sell, fearing the loss of their funds.
This has led to an increased need and need for pegged cryptocurrencies. Indexed cryptocurrencies are currencies whose value is indexed to an underlying asset. These include stablecoins and wrapped BTC, to name a few. The indexed asset can be fiat, a commodity like gold, crypto, and algorithmic coins.
Users also have to deal with high slippage when trading assets, which eventually loses market leverage. Saddle seeks to provide a platform to address these shortcomings.
Let’s take a closer look at Saddle Finance, which provides a platform for trading pegged-value crypto assets.
Saddle Finance in a nutshell
Saddle Finance generally provides a decentralized automated market making platform for users. The platform is built on the Ethereum blockchain on mainnet, Fantom, Evmos, and popular L2s such as Arbitrum and Optimism and provides a platform to trade pegged crypto assets.
What sets Saddle Finance apart is that it provides a fast and efficient platform for traders. This allows them to trade their preferred indexed assets with the lowest slippage. It also provides liquidity providers with high yield pools.
The platform was built by industry specialists with years of experience in the DeFi space. The team has experience working at Uber, Square and Amazon.
There are many DEXs that provide a platform to trade between thousands of tokens. But Saddle Finance provides a bespoke platform dedicated to pegged crypto assets.
The platform stands capable of providing this thanks to its StableSwap algorithm. This allows it to provide MMA with the lowest slip.
Security is a crucial factor when it comes to any crypto platform. With the increase in cryptographic exploits and hacks, platforms are trying to incorporate security best practices.
Smart contracts are regularly victims of bugs, flaws and attacks. To deal with such a case, the platform has a robust audit system. The platform has been audited by top audit firms, including CertiK, Quantstamp, and OpenZeppelin. Additionally, Saddles administrative keys are controlled by Gnosis Safe.
AMM and saddle basins
Saddle’s Automated Market Maker feature automatically executes trades using liquidity pools and algorithms. The bots automatically quote a price during the 24/7 trade. Using the Stableswap algorithm, Saddle tackles the slippage problem. It ensures liquidity and helps reduce slippages.
The entire automated process simplifies the trading mechanism. It helps by replacing the usual market makers and order books with an automated system to ensure faster and cheaper trades and exchanges.
Yield farming tools
Yield farming allows traders to generate 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 a return from farming.
The various tools provided by Saddle Finance help users to track and also manage rewards. Tolls help monitor interest rates, rewards, liquidity, and prices.
Saddle Finance is growing and the team is looking to get into DAO governance. veSDL is the official governance token of Saddle DAO.
- Symbol: SDL
- Token Standard: ERC-20
- Maximum power supply 1,000,000,000 SDL
- The tokens will have an initial lock-up period of 3-12 months.
The Saddle community will receive 51% of the entire token supply for liquidity mining, community incentive programs, governance treasury, and more.
The project team will receive 25.9% of the SDL tokens, investors will receive 22.5%, and advisors will receive the remaining 0.6%.
On June 23, 2022, the first acquisition phase of Saddle’s native token, $SDL, ended.
The community that has supported Saddle by contributing funds to its liquidity pools will have access to its tokens, allowing holders to trade and transact $SDL.
Additionally, users will be able to stake $SDL and receive incentives on the sell.exchange. Users who stake $SDL will receive $veSDL tokens in return.
Saddle Finance has a whole bunch of visions for 2022.
- Virtual Exchange V2 – The platform is working on an improved version of its virtual exchange feature. This will reduce the user’s recovery time to get their funds and also facilitate aggregator integrations.
- More saddle pools – The team plans to launch stool pools on Optimism and also plans to bring them to various ecosystems.
- Cross-chain characteristics – The team recently launched on Evmos, marking its vision to expand into a multi-chain ecosystem.
- SDL Token Transfer – SEL is currently transferable and the team is looking to list him on major CEXs by the end of 2022.
Saddle Finance now supports various indexed assets including USDC, USDT, wBTC, wCUSD, wETH, LUSD, alETH, alUSD and DAI, to name a few. You can check the full list of supported coins from here. It will also be rolling out more support for more parts shortly.
The platform has also secured 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 coin trading experience.
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