What is Saddle Finance? Latest information about the project and token SDL

• Overview of Saddle Finance
• What is Saddle Finance?
• Salient features of Saddle Finance
• Saddle Finance development team
• Advisors, investors and partners of the Saddle Finance project
• Products of Saddle Finance
• How to make money in Saddle Finance
• Overview of the SDL . token
• What are SDL tokens?
• Functions of the SDL . token
• Where can SDL tokens be bought and sold?
• What is the future of the Saddle Finance project?
• Conclude

Overview of Saddle Finance

What is Saddle Finance?

Saddle Finance was founded in 2020 and belongs to the Ethereum blockchain. This is an automatic staking tool for exchanges on the DeFi market (aka AMM). Saddle is designed to optimize transactions between pegged crypto assets, with the goal of achieving the lowest possible slippage rate.

Saddle makes transactions cheaper, more efficient and faster. Besides, Saddle also offers protocols to help minimize slippage for swaps, or high-profit liquidity pools.

The Saddle team's goal is to build Saddle Finance as a lego piece for the DeFi ecosystem, meaning it can be grafted onto any blockchain, on any DeFi protocol.

Salient features of Saddle Finance

Saddle is built on the following characteristics:

• A standard of DeFi definition: Saddle Finance is a highly compatible open source software that helps to execute contracts typical of the DeFi market. Saddle is also shaping up to be one of the lego pieces for the DeFi market
• A safe and reputable platform: Saddle's protocol is audited and secured by leading blockchain security players such as Certik, Quantstamp and OpenZeppelin
• A highly collaborative platform: Saddle unlocks all system features to support DeFi ecosystems and partners with ideal shared protocols.

Saddle Finance development team

Project Saddle was built by experts who know the DeFi market with years of experience in programming at Web2 companies like Uber, Amazon and Square.

As pioneers, the Saddle Finance development team understands very well the importance of an active, diverse community to the success of a project. Besides, they are very knowledgeable about Web2, so they believe that Web3 will be a more advanced platform (Web2, Web3 is the 2nd and 3rd generation of the Internet).

Saddle Finance project development team includes:

• Founder & CEO – Sunil Srivatsa: He used to be a data analyst, as well as a programmer for many years for big companies like Uber, Square. In addition, he graduated from the University of Washington with a degree in computer science and research
• Community Manager – Arthur Dollestin: He graduated with a bachelor's degree in commercial economics from the University of California. He used to be a Growth Hacker (position requires skills in both marketing and programming) for Wing Assistant - a technology application company.
• Frontend Lead – David Hamme: He is an expert in both marketing and programming. He has many years of experience as a programmer for big companies like Uber, Flexport, Demandforce… Besides, he graduated with a major in marketing from Temple University.
• COO – Zim Hang: He has experience as a Co-Founder for technology and crypto startups such as Cryspr Consulting, Chrona Sleep and H&H Mining. Before that, he studied psychology at the University of Washington
• Software Engineer – John Lim: He is the Co-Founder of P90 Studio LLC – a studio specializing in game production. Besides, he has many years working in famous companies like Amazon, Noom
• Product Designer – Sandra Song: She graduated with a master's degree in digital media studies from New York University. She has many years of experience as UX Designer for ConsenSys technology company.

Advisors, investors and partners of the Saddle Finance project

On 11/11/2021, Saddle Finance announced a successful fundraising with $7.5 million raised in the fundraising round. Leading the round were Polychain and Electric Capital Fund, followed by participation from eGirl Capital, Nascent and several others. Up to now, the total capital that Saddle has collected is 11.8 million USD.

In addition, the project also receives mentoring from veteran individuals in the field of Crypto such as Tarun Chitra, George Lambeth and Matt Luongo.

Products of Saddle Finance

Currently, the products that have been launched on Saddle Finance only support 2 networks, Ethereum and Arbitrum, with 2 features: swapping and liquidity pools. However, each feature has its own characteristics as follows:

Swapping

In addition to features like other swapping services, Saddle offers remarkable advanced customizations such as:

• Infinite Approval: This function allows the Saddle system to use all the coins selected by the user and does not need to go through any other confirmation steps. The system will automatically perform the necessary steps
• Max Slippage: Users can choose to default to 0.1% or 1%, or enter any value they want. This allows users to be more proactive in ensuring their interests
• Txn Deadline: users can choose to default to 20 or 40 minutes, or enter any value to be able to align the transaction time in accordance with the trading flow situation in the market. This is to avoid the risk of losing a transaction due to insufficient time, or having to wait too long (default is at least 20 minutes).

Liquidity pool

In addition to BTC and ETH liquidity pools, Saddle also has pools that focus on other price stabilizers. Besides, they also divide the items out quite specific.

How to make money in Saddle Finance

Currently, in addition to making money through liquidity pools like other AMM systems, users can participate in Saddle Finance's b4b (Bounties 4 Bandits) program. b4b is an extended version of programs like hackathons available to all members of the Saddle community. Everyone can participate and be rewarded for their contributions to Saddle's ecosystem.

Besides, Saddle's team is also building the first Dapp projects with smart contracts. Not only that, Saddle Finance is a growing project every day, they need all the resources and support of the user community. Therefore, it makes sense to cooperate with the community at this time. 

And of course, user contributions will be rewarded with SDL tokens. The total prize value is currently up to SDL 7.5 million.

How to join Saddle Finance's b4b program:

• Step 1: Learn about the idea and foundation of Saddle Finance
• Step 2: After knowing the information, users can form a team or join individually via the link https://www.encode.club/bounties4bandits
• Step 3: Saddle partners at Encode will make resources available and open a private Discord channel for users and competitors.
• Step 4: After each month, the contest jury will select the best contestants/projects of each round to award rewards in SDL tokens.

Overview of the SDL . token

What are SDL tokens?

The Saddle Finance platform's SDL token is a DAO (governance token) token for the main protocol or for the system's projects. The SDL token was launched in November 2021 and is a non-transferable token with a lock-in period of 3 to 12 months (for the purpose of gratitude and reward to members of the Saddle community, as well as to limit the opportunistic investors). The SDL coin has the address code 0xf1dc500fde233a4055e25e5bbf516372bc4f6871.

The total reserve of SDL is 1 billion tokens, with 51% of the reserve to be allocated to the user community, of which 15% has been distributed to those who invested in the project in the early stages ( about 2 to 3 years). In addition, 30% of total SDL reserves will be gradually invested in the management budget within 3 years. The user community will then decide how to allocate these coins to community contributors, staking activities, and other programs.

Besides, SDL tokens can also be mined through Saddle's liquidity pools on both Ethereum and Arbitrum networks, or through the b4b program. Liquidity pools open mining function from November 18, 2021 at 7 am (Vietnam time).

Functions of the SDL . token

SDL token holders will have administrative rights. They can vote on proposals on the system to develop the project. In the early stages, proposals will be posted on Snapshot and the community on it will make decisions. In parallel, the channel for discussing proposals is Discord.

Saddle intends with proposals for the coming months, the system will move all operations back to the governance system on the blockchain. The project will use Compound's Bravo governance protocol to then introduce new features to the SDL token.

Where can SDL tokens be bought and sold?

There is currently no information on exchanges that can buy and sell SDL. 

What is the future of the Saddle Finance project?

With a macro vision of making transactions on the DeFi market have the lowest slippage rate, Saddle Finance has now made an impressive start with the user community and investors. At this early stage, although it only has basic features, but with the mindset and orientation of the community, Saddle Finance promises to bring about certain successes.

Conclude

Besides the bold idea of ​​creating an AMM system that supports optimizing transactions between crypto assets of fixed value with the goal of achieving the lowest possible slippage rate, the Saddle Finance project also was built by a team of longtime experts in many fields. All of the above points are great potentials, promising Saddle Finance will be a successful project in the future.

See more specific information about the project through the following media channels:

Website | Project Information | Twitter | Discord | Telegram | LinkedIn | Medium | GitHub | DefiPulse

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