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Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage.<ref>https://docs.saddle.finance/</ref> Saddle enables cheap, low-slippage swaps for traders and high-yield pools for LPs. Currently, Saddle supports [[Ethereum]], [[Fantom]], [[Evmos]], [[Arbitrum]] and [[Optimism]] with liquidity on common Stablecoins/ | Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage.<ref>https://docs.saddle.finance/</ref> Saddle enables cheap, low-slippage swaps for traders and high-yield pools for LPs. Currently, Saddle currently supports [[Ethereum]], [[Fantom]], [[Evmos]], [[Arbitrum]] and [[Optimism]] with liquidity on common Stablecoins/ETH/BTC pairs. Saddle is founded by Sunil.<ref>https://www.linkedin.com/in/sunilsrivatsa/</ref> | ||
== Overview == | == Overview == | ||
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== Comparison with Curve == | == Comparison with Curve == | ||
Saddle Finance was accused by [[Curve Finance]] of copying its algorithm suggesting the Saddle team had ported its Vyper codebase to Solidity without making any changes<ref>https://cryptobriefing.com/curve-accuses-saddle-finance-of-copying-its-code/</ref>. Matt Luongo wrote "good artists borrow great artists steal" as he commited the Saddle contracts to Github<ref>https://twitter.com/RezanC0de/status/1351580755084898309</ref> | Saddle Finance was accused by [[Curve Finance]] of copying its algorithm suggesting the Saddle team had ported its Vyper codebase to Solidity without making any changes<ref>https://cryptobriefing.com/curve-accuses-saddle-finance-of-copying-its-code/</ref>. Matt Luongo wrote "good artists borrow great artists steal" as he commited the Saddle contracts to Github<ref>https://twitter.com/RezanC0de/status/1351580755084898309</ref> | ||
== April 2022 Exploit == | |||
On the 30th of April 2022, [[Peckshield]] twitter account reported an ongoing exploit against the protocol.<ref>https://twitter.com/peckshield/status/1520317251265564672</ref> The Saddle team replied about an hour later by disabling withdrawals and confirming they were investigating the exploit<ref>https://twitter.com/saddlefinance/status/1520329884526170116</ref>. | |||
Saddle Finance TVL fell from $320m to less $100m after withdrawals were enabled.<ref>https://defillama.com/protocol/saddle-finance</ref> The team later announced that the sUSDv2 metapool was affected by the bug which caused the loss<ref>https://twitter.com/saddlefinance/status/1520463293177028608</ref>. | |||
== Sources == | == Sources == | ||
<references /> | <references /> | ||
[[Category:Protocols]] | |||