Saddle Finance Announces End of Lock-up Period for Its $SDL Token

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Saddle.Finance, a multi-chain decentralized automated market maker (AMM), will end the first vesting phase for its native token $SDL on June 23, 2022.

All community members who have helped Saddle by providing funds to its liquidity pools will be granted access to their tokens, allowing holders to trade and settle $SDL.

Users also get an opportunity to wager $SDL and earn rewards on Saddle.Exchange. By staking $SDL, users receive $veSDL tokens in return.

Users can also trade $SDL or provide liquidity to our SDL/ETH pair on SushiSwap

Saddle’s Tokenomics and Governance

Inspired by the popular voting-escrowed model, $veSDL is the governance token that allows the Saddle community to govern the protocol. Stakers are given the ability to vote and manage the $SDL offering to be added to the liquidity pools.

Saddle’s tokenomics were designed so that $veSDL decays linearly. This encourages users to keep their funds staked, as staking when the token’s price is lower maximizes returns. Another benefit of this structure is that selling pressure for the $SDL token is greatly reduced, contributing to healthy and sustainable price action.

While not part of the current proposal, Saddle would like to see other initiatives come to life with the support of his community. These milestones include migrating to on-chain governance, adding liquidity to $SDL through Tokemak, and launching a new meter that allows stakers to unlock additional yield increases.

saddle also intends to issue bonds through Olympus Pro to generate more protocol-native value, introduce a lending function against liquidity providers, add leveraged yield farming through Rari Capitals Fuse, and collect airdrops and management fees from select SEMPI partners.

Finally, the team’s roadmap also includes improvements to virtual swaps, the introduction of new liquidity pools for $SDL stakers, and a new service that allows users to deploy their own customizable saddle pools.

Saddle is an AMM-based decentralized exchange (DEX) available on the Ethereum, Fantom, Arbitrum, Optimism, and Evmos blockchains. Saddle has facilitated over $2 billion in transaction volume to date.

Saddles DEX is specifically optimized for trading stablecoins and fixed value crypto assets such as Wrapped Ethereum (wETH) and Bitcoin (wBTC). The protocol has a user-friendly interface that makes it ideal for both novice and experienced DeFi (decentralized finance) investors, and all trades are fast, cost-effective, and with minimal slippage.

Saddle team values ​​are rooted in community building, decentralization and elevating the DeFi space. The team aims to bring AMMs to every blockchain as well as bringing coupled asset swap primitives to all DeFi systems and is backed by several reputable 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 anyone who contributes to their protocol. The recent SEMPI initiative encourages Web3 developers to join Saddle’s mission and build on top of the protocol or branch it into alternative layers.

Another key selling point of Saddle is its robust security. All of its smart contracts have been thoroughly audited by leading blockchain security companies such as Certik, Quantstamp, and OpenZeppelin.

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