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Announcing the Saddle (SDL) Token!

Announcing the Saddle (SDL) Token!
Everything you need to know about the SDL token launch.

Wen token? Now token.

Hot on the heels of our recent funding round, we are excited to announce that our governance token SDL is now live! We will use this token to empower our community members to steer the future of our protocol, as well as to expand the protocol itself and reward contributors.

This article is your entry point into understanding SDL tokenomics, the airdrop, how to earn SDL, governance, and Layer 2 launch details and incentives.

Thank you to the OGs that have helped us get this far, and welcome to the new community members! We’re in it together, to build the AMM DeFi deserves, and bring low-slippage pegged asset swap to every corner of DeFi.


Saddle has served as a community- and a developer-first infrastructure embracing open-source collaboration since our launch in Jan, 2021. Saddle would not be where it is today without the many community members and LPs who have joined its journey over the past year.

We designed the SDL airdrop and tokenomics to reward early supporters, invite more community members to participate and earn incentives, while deterring short-term profit-seekers.

Below is a summary of SDL’s tokenomics, for the full rundown check out this article.


A maximum supply of 1 billion SDL tokens, minted at genesis, will become available over the course of 2-3 years.


% of Tokens

# of Tokens

Saddle community members


510,000,000 SDL



225,000,000 SDL

Team members


259,000,000 SDL



6,000,000 SDL


As a thanks to our early supporters, LPs, and community members, we are airdropping 150,000,000 SDL per the allocations below (vested over 2 years):


% of Tokens

# of Tokens

Historical LPs


105,000,000 SDL

veCRV Holders


30,000,000 SDL

Any address that called Saddle contracts


5,000,000 SDL

Multisig signers


5,000,000 SDL

Early depositors


5,000,000 SDL

The token is initially non-transferable for a period of between 3 to 12 months. After 3 months, governance may vote to enable transfers.  After 12 months, transfers may be enabled by anyone.

Please see the SDL tokenomics article to get the full details on the airdrop (and audit results).

Everyone eligible for the airdrop can claim their SDL now on the Saddle dApp (subject to vesting).


You can earn the Saddle tokens in 2 ways – by LPing in Saddle’s incentivized pools and by participating in the bounties4bandits (b4b) program.

Liquidity Mining

5% of SDL (50,000,000 SDL) has been allocated to liquidity mining programs across Ethereum, Arbitrum, and (later) Optimism which can be earned without any vesting.  

Incentives distribution for pools will start on 11/18/21 12:00AM UTC.

Specific information on SDL incentives for each pool is available in the SDL tokenomics article, and on the Pools page on the dApp.

bounties4bandits (b4b) community incentives program

0.75% (7,500,000 SDL) is allocated with no vesting to a community multisig for grants for community contributions through bounties4bandits (b4b), a program run by our community members in collaboration with Encode Club.  Encode Club is receiving a 0.25% grant (vested over three years) for their continued support.

b4b is Saddle’s hackathon / grants program for Saddle community members to get involved and get rewarded, with several technical and non-technical tracks. Learn more about b4b here.


SDL token holders can vote on proposals to improve Saddle and allocate treasury funds.  Initially, the proposals will be on Snapshot, which the current community multisig will then enact. Discourse will be the platform for discussion of the proposals.

We expect proposals in the next few months to migrate to fully on-chain governance using the Compound Governor Bravo and add additional token economics.

Get started with Saddle protocol governance by signing up for an account on the Saddle community Discourse.


Saddle is now live on Arbitrum! The first Saddle pool on Arbitrum is a stablecoin pool composed of USDC, USDT, nUSD, and MIM.

This pool will be incentivized with 4,958,678 SDL tokens (~0.5% of total supply) over ~6 months. (Read more about pool incentives in the tokenomics article here).

Incentives distribution for this pool will start on 11/18/21 12:00AM UTC.

As the total value locked on Arbitrum continues to rise, a secure AMM to swap pegged value assets has become an important need in the emerging L2 DeFi ecosystem. Saddle will allow Arbitrum users to swap pegged-value assets with low slippage, while continuing to serve as a key building block in the broader space.

Check out this article and guide to learn about working with Saddle’s L2 stablecoin pool, Ethereum Layer 2 solutions, rollups, and bridges, for transferring assets between L1 and L2.


Launching the SDL token, L2 support, and bounties4bandits was a lot, but we’ve got more coming. Here’s a sneak-peek:

  • NFT drop for early users and Saddle community members
  • Saddle updated roadmap article
  • Update on NFT artists’ grant program (Saddle Creators)
  • SDL token claim walkthrough guide
  • SDL liquidity mining guide


Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage. Saddle enables fast, low-cost, and low-slippage swaps for traders and high-yield pools for LPs.

Our values are rooted in collaboration, in building Saddle as a DeFi lego block, in helping DeFi teams bring AMMs to any blockchain.

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