Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage. 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.
Saddle is an automated market maker (AMM) enabling trading between pegged value crypto assets. Saddle liquidity pools implement the StableSwap mathematical formula to reduce slippage and keep the market liquid. First introduced by Curve Finance, Stableswap is a hybrid algorithm. The Stableswap hybrid combines both Constant Product and Constant Sum models.
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. Matt Luongo wrote "good artists borrow great artists steal" as he commited the Saddle contracts to Github
April 2022 Exploit
On the 30th of April 2022, Peckshield twitter account reported an ongoing exploit against the protocol. The Saddle team replied about an hour later by disabling withdrawals and confirming they were investigating the exploit.