From the Ranch to the Sea: Saddle’s New Image and Product
The Ranch
Towards the end of 2020, it was time to say goodbye to web 2.0 and embark on a journey to find ourselves in the Wild West of DeFi. Our founder, devops199fan, introduced an idea for a Solidity-based pegged asset swap algorithm that would come to serve as the foundation for Saddle’s AMM. With this north star vision in mind, we settled in and built a home on The Ranch, a home where bandits far and wide could join us at the cutting edge of Decentralized Finance.
Since Launching in January 2021…
- Total TVL reached $308M
- Facilitated over $2.2B in Volume
- We became the most forked stableswap with over $1.3B in TVL between 14 protocols during the height of the bull market.
We have come a long way from our initial vision, becoming the de facto open-source stableswap in DeFi. The Ranch will forever hold a place in our hearts; our premier stableswap will live on and continue to serve as a core financial primitive in the space.
The world of DeFi continues to evolve and mature, so it's no surprise that we see protocols adapt to better serve their users and the broader ecosystem. We have cultivated a strong community based on our stable swap implementation. Now, we believe it's time to embark on a new journey - a new product with a refreshed image that will take our beloved seahorse back under the sea.
Our New Image
With some feedback from the team and community we created a logo that depicted a strong leader; able to navigate and adapt to the wild, frigid depths of DeFi, all the while inviting others along for the journey.
Introducing: Port
In line with our vision of creating a borderless, inclusive financial system in which everyone has equal access to wealth generation, the time is right to build Port.
Anyone with an internet connection and wallet can select an asset, choose among clearly defined investment strategies, and then sit back and watch Port manage and rebalance their portfolio automatically. Port will be built on top of Yearn’s battle-tested vaults, to become the “Convex of Yearn” when veYFI launches, as well as incorporate other DeFi protocols in the future.
With recent events exposing the shortcomings of the traditional financial system, Port is designed to be a haven for those turning to decentralized and non-custodial solutions offering simplicity, increased transparency, and security.
We are currently in the process of building the MVP, if you would like to join our alpha group in Discord please join.
New UI for the Exchange
We are very excited about our new product, Port - but we are making some major upgrades to the dApp as well, including a newly refreshed user interface and branding consistent with our new image and theme. Users will find it easier to navigate through the exchange to swap, deposit, and earn rewards.
Launching on StarkNet Testnet
Along with dApp’s refreshed image, we are thrilled to deploy on StarkNet getting more involved in their ecosystem and publishing more of our Cairo journey as we build! We believe that by leveraging Starknet’s security and scale our users will have a better experience engaging with The Exchange.
Certora Formal Verification
The team recently published the results of our formal verification with Certora. The formal specifications focus on validating correct behavior for the base swap, with Saddle passing in all aspects of the report. We continue to invest in security best practices like ongoing audits (e.g. the recent Metapool audit by Least Authority), monitoring, and code reviews in order to protect our users and serve the greater DeFi ecosystem.
Beyond the Sea
At Saddle, we are committed to building and sharing financial primitives at the frontier of decentralized finance while cultivating a sustainable community around them. We are excited about our new chapter, launching Port in the coming weeks, and continuing to expand the protocol to new frontiers!