Saddle Finance Announces End of Lock-up Period for its $SDL Token

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San Francisco, United States, 24th June, 2022, Chainwire

Saddle.Finance, a multi-chain decentralized automated market maker (AMM), will be ending the first vesting stage for its native token, $SDL, on June 23, 2022.

All the community members who helped Saddle by providing funds to its liquidity pools will be gaining access to their tokens, enabling holders to trade and transact $SDL.  

Users will also be granted the ability to stake $SDL and earn rewards on saddle.exchange. By staking $SDL users will receive $veSDL tokens in return. 

Users can also trade SDL or provide liquidity to our SDL/ETH pair on SushiSwap

Inspired by the popular vote escrowed model, $veSDL is the governance token that will allow the Saddle community to manage the protocol. Stakers will be given the ability to vote and manage the $SDL supply to be added to liquidity pools.

The tokenomics of Saddle were designed so $veSDL decays linearly. Thus, users are incentivized to maintain their funds staked, as staking when the price of the token is lower maximizes yield returns. Another benefit of this structure is that selling pressure for the SDL token is severely diminished, contributing to healthy and sustainable price action.

Although not part of the current proposal, Saddle aims to create further initiatives with the support of its community. These milestones include the migration to on-chain governance, adding liquidity to $SDL through Tokemak, and introducing a new gauge that will enable stakers to unlock extra yield boosts.

Saddle also intends to issue bonds through Olympus Pro to generate more protocol-owned value, launch a borrowing function against liquidity providers,