Saddle Finance Review – Saddle Finance Vs Curve Finance

saddle finance review

What is saddle finance Defi

Saddle finance is a decentralized finance platform that ensures efficient as well as low-slip trading value-pegged crypto assets. The platform is making efforts to provide a solution to all the issues surrounding spread between stable coins as well as tokenized crypto assets.

In simple reality, saddle is an automated market maker (AMM) that ensures an efficient crypto trading between pegged values as well as crypto assts. It will provide liquidity for sBTC, renBTC and tBTC to mention but a few.  Saddle.exchange will unlock deep on-chain liquidity thus enabling you to make trades as well as lose a minimal amount to transaction fees. Defi airdrops are becoming common, so it’s better for you to try the platform and get the rewards in case they go for a governance token.

 

Who created saddle finance?

Saddle finance is users’ project.  Its founder Sunil (aka develops199fan), Kain Warwick and Mariano Conti also known as a multisig signer, carried out a research on various Defi projects and opted for this platform. He worked hand in hand with many such as John using different tool to see this project a success.

 

Saddle finance investors

  • Framework ventures
  • Seed Round
  • Angel investors
  • Dragonfly capital
  • Electrical capital

 

 Is Saddle Finance Safe?

This is one of the safest platforms as the developers pay attention on the security of user funds.  It is built on a new solidity implementation that employs StableSwap algorithm.  It also uses a new code that specifically handles money. The platform also conducts a three back-to-back smart contract audits.  Moreover, Saddle is considering a Proof of Governance launch.

 

Saddle Finance Audits

Saddle is happy to announce that it will deploy a new code that specifically handles money. This will need extra care as well as scrutiny. The platform will hire Certik, Open Zeppelin and Quantstamp to carry out a three back-to-back smart contract audit. This will secure all your transactions making it one of the safest platforms.

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What Makes Saddle Finance Unique?

Saddle finance impermanent loss is what makes this platform unique compared to others do. It unlocks the potential of pegged value crypto asses such as tokenized Bitcoin in a decentralized exchange. In other words, it is an Automated Market Maker.

 

Is Saddle Finance a Good Investment?

Saddle finance is indeed a good investment not only to novice crypto traders but also to everyone who wishes to use the platform.  As mentioned earlier, saddle finance impermanent loss unlocks the potential of pegged value crypto assets and minimizes losses. In simple reality, it controls your trades and ensures that you suffer minimal losses.

 

How Does Saddle Finance Work?

Saddle finance exchange adopts a simple interface that ensures that all users achieve a seamless navigation.  The first step is always to register with Saddle. Provide all the necessary information required as you fill the registration form. Create a wallet, sign in and start trading.

You can also provide liquidity on this platform by visiting the Saddle app then connect your PoG eligible wallet.  Saddle rewards you in form of KEEP every time you provide liquidity in the form of WBTC, tBTC and renBTC to mention but a few.

Before using your app, check its eligibility by opening a saddle app then connecting the wallet.  Follow us on saddle Twitter for latest updates.

Keep in mind that anyone can use saddle to swap between tokenized BTC.  The process is quite easy, visit saddle app, connect the wallet and star trading.

 

Saddle Finance Governance

Saddle will launch alongside a Proof of Governance to protect all the users with certain limits thus making Sybil attacks the story of the story of the past. Saddle will offers a pool TVL cap of 150 BTC as well as per-address deposit limit of 1 BTC.

A user can only qualify for PoG if the address has demonstrated an active network participation in the following ways:

  • On-chain voting as well as delegation
  • Staking SNX and minting sUSD (>$20)
  • Off-chain voting on Snapshot

Did you know that saddle commits 125,000 KEEP a week as reward incentives for liquidity providers? This will allow the LPs to earn up to ~30% APY on various deposits.  Find out more about KEEP and how you can use it to stake for additional APY.

 

Saddle Finance Bootstrapping Liquidity with Keep Network

Recently, the saddle launch will offer an initial selection of four tokenized Bitcoin types in its first liquidity pool: sBTC, tBTC, wBTC and renBTC. Sooner, AMM will introduce new pools for stablecoins as well as Ethereum based tokens.  To add liquidity, you can deposit 1BTC in your wallet.

READ :  How to Make Money with Bitcoin? Bitcoin Money Making Guide

 

Saddle Finance Vs Curve Finance

Saddle finance and curve finance seem to offer almost the same services. However, Saddle claims that it is far ahead of this game. Recently, curve finance raised a complaint in a tweet that saddle is copying its ‘own math’. It goes ahead to say that much of saddle’s algorithms are the same.

According to various users, currently the math is somehow the same, but with different VCs.  Quantstamp audit claims that indeed Saddle finance’s implementation of StableSwaps is Curve Finance’s codebase that they employed as a reference.  Due to poor documentation, the details are still unclear. It means that still; no one is able to tell how the Saddle developers came up with formulas from the StableSwap whitepaper.

These reports say that Saddle is still unstable and it is vulnerable to the kind of attack vector that Curve Finance first experienced.  They went ahead to support this point mentioning that Saddle Finance’s contracts are solidity implementation of the Curve contracts hence they are likely to safer the same attack as Curve.

According to reports, Curve Finance attests to the fact that Saddle uses a different programming language which “Solidity” and not “Vyper”

 

Saddle Finance Vs Curve Finance

Features Saddle Finance Curve Finance
Programming language Solidity Vyper
Interface Simple and seamless interface for easy navigation Complex interface making it difficult for users navigate
Security Implements curve contracts making it vulnerable to attacks Employs Curve contracts and has suffered a serious attack in the past.

 

Saddle Finance Swap

Did you know that StableSwap powers Saddle? This is a state of the art algorithm built for solidity trading of pegged value crypto assets.  Saddle believes in its smart contracts as the best for all your transactions as reputable firms such as OpenZeppelin, Certik and Quantstamp to mention but a few audit them.

 

How to Add Liquidity to Saddle Finance? Saddle Finance Deposit

It is worth mentioning that Saddle is the best and easiest platform to trade as you earn with pegged value crypto assets such as tokenized Bitcoin.  The platform implements a configurable withdrawal fee that will reduce to zero within a period of one month. This is unlike fixed liquidity withdrawal fees like those levied by Yearn Finance. The platform intends to incentivize liquidity providers especially those who feel tired of the excessive fees.

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In fact, Saddle will offer an initial selection of four different types of Bitcoin in the first liquidity pool. In future, this AMM will introduce new pools of stablecoins as well as Ethereum tokens.

 

How to Withdraw From Saddle Finance?

Just like any exchange platform out there, withdrawing from Saddle is as simple as withdrawing funds from your account. Just fill out the withdrawal form and let saddle.exchange advice you on further steps.

 

Saddle Finance Login Process – Saddle Finance Connect Wallet

For more information about saddle finance login process and how to connect your wallet, visit saddle website.

 

Saddle Finance Admin Keys

It is worth mentioning that saddle admin key is controlled by a [3/5 Gnosis Safe multisig] (https://etherscan.io/address/0x3F8E527aF4e0c6e763e8f368AC679c44C45626aE). We can attest that this multisig can pause new deposits as well as trade during a technical emergency.  Even if the platform pauses deposits, users will still be able to withdraw their funds.  Did you know that the multisig could also change the swap/withdrawal fees as well as pool/account deposit limits?

 

 Saddle Finance Social Media Handles

https://twitter.com/saddlefinance

https://saddle.exchange/

 

Takeaways on Saddle Finance Review

  1. Even if Saddle pauses deposits, users will still be able to withdraw their funds
  2. Saddle Finance launch will offer an initial selection of four tokenized Bitcoin types in its first liquidity pool: sBTC, tBTC, wBTC and renBTC. Sooner
  3. Saddle is the safest platforms as the developers pay attention on the security of user funds
  4. Saddle finance is a decentralized finance platform that ensures efficient as well as low-slip trading value-pegged crypto assets
  5. Saddle Fi is an automated market maker (AMM) that ensures an efficient crypto trading between pegged values as well as crypto assets

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