Give us your best Pitch!
Liquidity pools on Saddle Finance can now submit pitches through the Pitch DAO's Governance Console allowing token holders to participate in governance votes and earn rewards while retaining the right to exit.
Pitch is a DAO that builds governance and economic infrastructure for web3. DeFi governance is expensive and time-consuming. Even though the existing governance and economic structures of protocols are intertwined, there aren't enough governance incentives. The vote-escrowed governance tokens are a good fit to incentivize liquidity; however, they have their own problems, which include capital inefficiency, voter apathy, and burnout. The systemic vulnerabilities concerning governance incentives need to be addressed for web3 to scale.
Pitch Money is Pitch DAO's flagship incentives product, a marketplace for vote incentives. It allows protocols to incentivize voters to allocate token emissions to their gauge. Pitch works as a reward router that optimally routes voting incentives across protocol governance. Voters can vote and relax as the Merkle trees store vote history over time and claim rewards whenever they want.
Saddle Finance is emitting 1.25 million SDL tokens weekly in liquidity mining incentives. The community determines the SDL emissions for each liquidity pool through the weekly gauge voting. In order to optimize emission flows and promote greater community engagement, Saddle has integrated with Pitch. Liquidity pools on the Saddle ecosystem can now submit pitches through the Pitch Governance Console. This will help both the protocols and the voters. Protocols will attract previously unrealized emissions and gauge votes, and voters will benefit through rewards for exercising their veSDL. Additionally, a liquid wrapper for SDL will allow token holders to participate in governance and earn rewards while retaining the right to exit their positions at any time.
Liquidity pools on Saddle can submit pitches through Pitch Governance Console. This is done by clicking "Pitch Incentive" on their desired gauge, selecting SDL as the reward token, pitch amount in SDL tokens, and the dollar amount per veSDL.
Decentralization and democratic governance are critical to DeFi. Saddle recognizes the importance of rewarding active governance participation. The partnership with Pitch helps extend that vision. It allows veSDL holders to retain complete control over the direction of the protocol while liquidity providers, through gauge incentives, have a voice to attract emissions toward their gauges.
About Saddle DAO
Saddle is a decentralized AMM that enables cheap, efficient, fast, and low-slippage swaps. Saddle is built by a team of DeFi natives aimed to bridge the gaps between the different silos of DeFi. We believe in collaboration, in building Saddle as a DeFi lego block, and in helping DeFi teams bring AMMs to any blockchain. Feel free to reach out through our community Discord or follow us on Twitter.