Update on Saddle’s Launch

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Comments on today’s launch of Saddle Finance.

Today Saddle launched with a lot of anticipation and excitement from the DeFi community. The dApp went live around 11am ET. Some of the early transactions were executed with high slippage. From our initial investigation the smart contracts are functioning as expected, but individuals may not have yielded to warnings of high slippage when using the deposit form and subsequently reviewing their deposits.

In response to some of those early transactions with high slippage, we’ve updated the front end to make high slippage warnings even more explicit. Since those early transactions, the pool composition has corrected and we are witnessing swaps being made at a much closer rate, as intended.

Our team is still looking into how we can learn from these early transactions and we are currently in discussions with members of the Saddle community multisig who oversee a discretionary community treasury.

Moving forward, our hope is to strike a balance between providing adequate user protections while empowering anyone to make choices according to their risk appetite.