Hourglass

Posted on Aug 27, 2022Read on Mirror.xyz

Pitch <> Saddle: Democratic Stable Swaps for DeFi

What is Saddle Finance?

Saddle Finance is an Ethereum-based Automated Market Maker specializing in low-slippage, high-efficiency swaps for pegged assets built on liquidity pool architecture. Saddle sets itself apart from other conventional stable swap AMMs with its Flash Loans and Virtual Swaps to support instantaneous non-collateralized loans and high-volume trades using synthetic assets. So robust is their architecture that they power SushiSwap v2 and Iron Finance’s pegged assets pools. 

Like many AMMs, Saddle emits 1.25 million SDL tokens weekly and employs vote-escrow tokenomics to allow the community to determine how much SDL emissions each liquidity pool receives. However, Saddle liquidity providers have not yet utilized vote incentives to optimize emissions flows and promote greater community engagement. 

That is all about to change — for the better.

Integrating with Pitch

Beginning with this epoch, liquidity pools on the Saddle ecosystem can submit pitches through the Pitch Governance Console by clicking “Pitch Incentive” on their desired gauge and providing the following information:

  • Reward token, with SDL now supported
  • Pitch amount
  • Dollar per ve token

For voters, the process is even simpler: simply vote for your desired Saddle gauge with your veSDL and receive a pro rata share of the rewards, which you can claim at any time through the Console. Plus, a liquid wrapper for SDL is already planned, allowing token holders to participate in governance votes and earn rewards while retaining the right to exit their positions at any time. 

Using Pitch’s governance services is a win-win for the Saddle ecosystem. Protocols with liquidity gauges benefit by attracting previously unrealized emissions and gauge votes, and voters benefit from generous rewards for simply exercising their veSDL.

Democracy is central to our ethos, and we have written extensively about our goals to keep DeFi both decentralized and democratic. Partnering with Saddle extends this goal. Using Pitch’s governance services, veSDL holders retain complete control over the trajectory of their protocol, and with gauge incentives, liquidity providers also have a voice to attract emissions towards their gauges. 

** Together, we aim to produce an AMM that is fast, versatile, and responsive to its users, one gauge vote at a time.**

Learn More

We’re a group of open-source contributors, and actively encourage members of the community to get involved. Keep in touch with us on Twitter where we post regular updates on the DAO and our numerous DeFi products. Got feedback? Drop us a line in our Discord to voice your thoughts!

All Content in this publication is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this Post constitutes professional and/or financial advice, nor does any information therein constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. 

There are risks associated with investing in cryptocurrencies and participating in decentralized governance. Pitch encourages all interested parties to undertake appropriate precautions before making any investments or participating in governance measures.