Saddle is a decentralized, open-source automated market maker (AMM) on the Ethereum blockchain optimized for trading pegged-value crypto assets with minimal slippage. The protocol enables low-cost, efficient, and swift swaps for traders and high-yield pools for liquidity providers. Saddle's codebase is open-source and has been audited by Certik, Quantstamp, and OpenZeppelin. The company plans to expand its team, bring low-slippage stablecoins to additional chains, position the protocol for a multi-chain future, and invest in the Saddle community and a creator metaverse. Founded in 2020 and based in San Francisco, Saddle was built by DeFi-native developers with prior Web2 experience. As of the announcement Saddle had raised $11.8 million in total, including the recent $7.5 million round. Saddle is an automated market maker (AMM) that launched from Silicon Valley and focuses on reducing slippage between pegged-value assets such as stablecoins and tokenized bitcoin. The team was spun out of Thesis (the a16z-backed firm behind Fold, tBTC and Keep) and has four full-time coders. Saddle has just gone live and is building AMM mechanics to enable low-slippage on-chain trades. The protocol plans to use Synthetix’s virtual synths to enable atomic trades that avoid Synthetix’s five-minute settlement delay and preserve composability. Its first liquidity pool offers four tokenized bitcoin options—renBTC, WBTC, sBTC and tBTC—and it intends to introduce pools for stablecoins and ETH-based tokens in the near term. The product aims to unlock deep on-chain liquidity for pegged-value crypto assets and minimize slippage and transaction-fee impact on trades.

Total raised

$12M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2021