DEXes · Review
Saddle Finance Review 2026: Stablecoin AMM
Saddle Finance is an automated market maker for trading pegged-value crypto assets across several chains. A reported $11 million exploit and uncertainty about current operations make it important to verify pool status before considering any use.
By the DappsAtlas editorial team · Updated
DappsAtlas score
3.2/10
Weak
Our verdict on Saddle Finance
3.2/10Saddle Finance offers a focused AMM design for swaps between pegged-value assets, with base pools and metapools deployed across several chains. That structure may interest experienced DeFi users comparing stable-asset pools. The main caveat outweighs those benefits: Saddle suffered a reported $11 million exploit, and its social account advised users to withdraw funds. Current operating status, pool safety and fee details are unclear. Treat Saddle as high risk and verify the status of any contract or pool before considering interaction.
Score breakdown
How Saddle Finance scores
- Security
- 1.5/10
- Ease of use
- 5.0/10
- Fees
- n/a
- Features
- 5.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Saddle Finance?
Saddle Finance is an automated market maker (AMM) built for swaps between crypto assets with pegged values. Rather than use an order book, it routes trades through liquidity pools; Saddle describes its pool types as base pools and metapools.
The project has been listed on Ethereum, Arbitrum, Optimism, Aurora, Fantom, Evmos and Kava, and SDL is its named token. A reported exploit in April 2022 drained about $11 million, and Saddle's social account later advised users to withdraw funds. Its current operating status is unclear, so treat any pool as potentially risky until its status and contracts are verified.
How Saddle Finance works
Saddle Finance uses automated market maker pools rather than matching individual buy and sell orders. Users trade against assets held in a pool, and the pool's pricing formula determines how much of one asset is exchanged for another. The design targets assets whose values are expected to stay close, such as pegged tokens, which can support lower-slippage swaps when the pool is balanced and has sufficient liquidity.
Saddle's pool terminology includes base pools and metapools. A base pool holds a set of assets; a metapool can use liquidity from a base pool alongside another asset. This can extend trading options, but it also means pool structure and underlying dependencies matter. Check the exact assets, contracts and current pool status before interacting.
4 features
Key features
01
Pegged-asset swaps
Saddle is described as an AMM for assets intended to maintain similar or pegged values.
02
Base and metapools
The pool system includes base pools and metapools. The exact assets and current availability can vary by pool and chain.
03
Multichain deployment
Saddle has been listed across Ethereum and several other networks, including Arbitrum and Optimism.
04
SDL token
SDL is the token associated with Saddle Finance, though its current role is not established here.
Pros and cons
What we like
- Purpose-built for swaps between assets that aim to hold similar values.
- Uses base pools and metapools to structure liquidity.
- Listed across multiple EVM-compatible networks.
- SDL is identified as the project's token.
Watch out for
- A Saddle Finance exploit in April 2022 drained about $11 million, according to reports.
- Saddle's current operating status and the safety of its pools are unclear.
- Fees and pool-specific risks are not published in the details available here.
- The available audit listings do not identify audit dates, scope or findings.
Saddle Finance fees
Saddle's trading, liquidity and withdrawal fees are not published here. If the interface is available, check the pool details and transaction confirmation for any applicable fees before approving a transaction; also account for network gas costs.
Is Saddle Finance safe?
Saddle Finance suffered a reported exploit in April 2022 that took about $11 million. A post from its social account advised users to withdraw funds. This is a serious warning: do not assume that any pool or contract is currently safe or actively maintained, and verify its status and contract addresses before interacting.
Two audits are listed for the project, but their dates, scope and findings are not specified here. An audit does not eliminate smart-contract risk, and pool users can also face asset depegging, liquidity and transaction risks. Saddle's current operating status and regulatory position are not established here.
5 steps
How to get started with Saddle Finance
- 1
Check whether Saddle Finance and the specific pool you are considering are currently operating on the relevant chain.
- 2
Review the pool's assets, contract addresses and any current withdrawal or safety notices before connecting a wallet.
- 3
Read the available pool documentation and confirm the swap or liquidity fees in the interface, if available.
- 4
Connect a compatible wallet only after verifying the network and contract addresses independently.
- 5
Review the transaction details and token approvals carefully before signing; do not proceed if the pool's status is unclear.
Who Saddle Finance is for
Saddle may interest experienced DeFi users researching stable-asset AMMs and the history of multichain pool designs. It is not a straightforward choice for users seeking an established, clearly maintained trading venue: the exploit history and uncertain current status call for careful verification before any interaction.
Saddle Finance FAQs
What is Saddle Finance?
Saddle Finance is an automated market maker designed for swaps between crypto assets with pegged values, such as stablecoins. Its pools use a design intended to reduce slippage for assets that trade near the same price.
How do Saddle Finance pools work?
Saddle's pools are described as base pools and metapools. In general, base pools hold the underlying assets, while metapools pair an asset with liquidity from a base pool; the specific pool composition should be checked before trading.
Which networks does Saddle Finance support?
Saddle has been listed on Ethereum, Arbitrum, Optimism, Aurora, Fantom, Evmos and Kava. Check that a pool and its contracts are currently active on the chain you intend to use.
What is the Saddle Finance token?
SDL is Saddle Finance's named token. The project details here do not establish its current utility or whether it is required for swaps or liquidity provision.
Was Saddle Finance hacked?
A reported exploit in April 2022 took about $11 million from Saddle Finance, and the project's social account later advised users to withdraw funds. Verify the current status of the relevant pools and contracts before interacting; never assume old instructions reflect present conditions.
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How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.