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Saddle Raises $7.5 Million In Funding Round From Polychain And Electric Capital To Expand Automated Market Maker Capabilities

Nov 11, 2021•almost 4 years ago

Amount Raised

$7.5 Million

San Francisco

Description

Saddle, the first open-source automated market maker (AMM) optimized for trading between pegged value crypto assets, announces the close of a $7.5 million funding round led by Polychain and Electric Capital, with participation from eGirl Capital, Nascent, and more. To date, Saddle has fundraised a total of $11.8 million.

Company Information

Company

Saddle

Location

San Francisco, California, United States

About

Saddle enables cheap, efficient, swift, and low-slippage swaps for traders and high-yield pools for LPs. Saddle is committed to open-source software and collaboration to fulfil the promise of DeFi and financial Lego blocks, and the Saddle protocol is audited and secured by leading blockchain security firms like Certik, Quantstamp, and OpenZeppelin. “This investment will enable Saddle to continue advancing its offerings that allow pegged value crypto assets to achieve efficiency, profitability, and growth. All you need in order to use Saddle is an internet connection and a ERC-20 compatible wallet like Metamask. Founded in 2020, Saddle is a decentralized AMM on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage. Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage.