Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage. Saddle enables fast, low-cost, and low-slippage swaps for traders and high-yield pools for LPs. The team believes in collaboration, in building Saddle as a DeFi lego block, and in helping DeFi teams bring pegged asset swaps to any blockchain or L2.
SDL token holders can vote on proposals. Initially, the proposals will be on Snapshot, which the current community multisig will then enact. Discourse will be the platform for discussion of the proposals.
The team expects proposals in the next few months to migrate to fully on-chain governance using the Compound Governor Bravo and add additional token economics.
Saddle, an open-source automated market maker (AMM) for trading between pegged value crypto assets, has closed a $7.5 million funding round led by Polychain and Electric Capital with participation from Nascent, Project Galaxy and others. The fundraise follows a $4.3 million raise in January.