Announcing Project SEMPI!
We are excited to formally announce Project SEMPI - Saddle Ecosystem Max Proliferation Initiative! We’re sounding the call to all Web3 devs (new or degen) to join our mission to help bring the pegged asset swap primitive to all of DeFi.
SEMPI is another step towards decentralization - the cornerstone of building financial Lego blocks. Anyone with the right skills (or desire to learn) and collaborative & OSS spirit can join us to build on Saddle or fork Saddle’s AMM onto alt-L1s and L2s.
Here’s a unique opportunity to build your own home in DeFi while taking advantage of Saddle's resources and expertise. Read on to know all about SEMPI, who can take part, and what support and incentives you can expect to receive from Saddle.
MOTIVATION FOR SEMPI
Saddle stands committed to DeFi, and to OSS. Unlike other StableSwap providers, one of our core values is collaboration. Together we will build mutually beneficial partnerships all within the spirit of DeFi and decentralization. To date we have worked with many projects such as SushiSwap, Hop Protocol, and Synapse – check out the full list of partnerships here and here.
We started with a collaboration with Encode Club for bounties4bandits (b4b) where anyone in the community can get paid for their contributions, with Session 1 winners pulling in 700k SDL. With SEMPI, we are expanding the invitation to collaborate. The goal of SEMPI is simple: make it easy and profitable for teams to build with/on Saddle and join the DeFi fun.
L1s/L2s OF INTEREST
Our hope is to share the benefits of Saddle’s OSS StableSwap implementation AMM with as many teams and projects as possible. To begin with, here’s the list of EVM-compatible chains we’re currently interested in supporting forks on:
- NeonEVM (Solana)
- Aurora (NEAR)
Saddle’s currently live on Mainnet, Arbitrum, Optimism, and Fantom and have already started working with several talented teams building on Polygon, Harmony, Avalanche, SKALE, and IoTex!
SUPPORT FROM SADDLE
Whether you want to build an AMM or a use Saddle as a building block (e.g. to build a bridge), Saddle will provide the required know-how and support for you to succeed:
- SDL Incentives: We will award 200,000 SDL to select applicants to our b4b forking bounty to use as incentives to attract liquidity providers on your protocol
- Business Development: We will alway be making introductions between our you and new liquidity pool partners who will help co-incentivize pools and bootstrap liquidity to help grow your TVL
- Technical: Our engineering team will help answer technical questions that might arise while building your Saddle fork
- Marketing: Our Saddle community team will help with marketing, messaging, and community-growth by amplifying your socials, participating in AMAs, writing blog posts about your protocol, etc.
- Recruiting / sourcing talent: We can help expand your team via the Saddle community or partners like Encode, or b4b.
- Security (multisig): We can have a Saddle core team member on sit on your multisig to add security, confidence, and legitimacy to your nascent protocol
- Project launch / Token Generation Event (TGE) Support: We can consult with you over how to launch your protocol + token to maximize traction. We’ve experimented with novel methods like proof of governance, locked TGE, and participated in / seen many other project launches, ICO/IDO, NFT-gated LPing, APY RPG / gamified LPing, vampire attacks, etc.
- Token swap: We will swap governance tokens with you Token swap with SDL after your token launch / TGE for mutual benefit– allowing each team to participate in the governance of the other’s proj, and both projs to get upside from the other’s success.
- Liquidity: In rare cases, Saddle or Saddle partners will provide liquidity to your protocol – reserved for our most trusted partners
- SDL token awards: Saddle will issue SDL tokens to your team based on reaching certain trading volume milestones. We will allocate the tokens with a 2-year vesting and 1-year cliff at each of the milestones:
It’s our mission to build OSS and give to the DeFi community. In exchange for the services we will provide listed above, and in order to maximize investment and benefit to both Saddle and your protocol, we ask in exchange:
- Airdrop to SDL Stakers: An airdrop of your governance token to SDL stakers when you launch your token. This will will encourage the Saddle community to participate in your community and governance
- Tokenswap: Your governance token in exchange for an equal-value amount of SDL tokens. This will encourage governance cross-pollination, give your protocol added legitimacy, and make both teams more invested in each other.
- Share on Admin Fees: A percent of admin fees when the team chooses to turn them on will go to SDL stakers. This will encourage the Saddle community to be more invested in the success of your protocol and therefore opt to participate in your protocol's governance. This is also given in exchange for SDL tokens outlined in the table above, think of it as a way to purchase discounted SDL tokens.
WHY BUILD WITH SADDLE?
Why should you partner with Saddle? Here are three reasons:
- Saddle stands for DeFi: We commit ourselves to open-source software (OSS) and collaboration to fulfill the promise of DeFi, of financial Lego blocks.
- Saddle is safe & legit: Saddle protocol is audited and secured by leading blockchain security firms like Certik, Quantstamp, and OpenZeppelin. Read the audits here.
- Saddle is collaborative and fun to work with: We root our ethos in the desire to support the DeFi ecosystem and partner with shared OSS values.
Join us in Discord (#sempi-and-frens) to say hi and learn more! Or for more ways to collaborate, visit Encode for bounties4bandits.
Reach out to our Projects Lead Christian in our Discord under @CXGonzalez#2321 (send a friend request before DMing), or on Twitter.
Be a part of SEMPI, fork or build on Saddle, help grow the DeFi ecosystem, and earn big.
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, efficient, swift, and low-slippage swaps for traders and high-yield pools for LPs. We believe in collaboration, in building Saddle as a DeFi lego block, in helping DeFi teams bring AMMs to any blockchain.
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