In this article, we will turn to the technical side of the issue and analyze the current state of the project from a technical point of view, determine the prospects for the development of Saddle and those aspects that need to be finalized in the future.

We will rely on the statistics presented on the Dune website. https://dune.com/alphast0rm/Saddle

Many thanks to https://dune.com/alphast0rm for the information provided. Without her, this analysis simply would not have happened.

It is important to understand that all the conclusions that are given in this study are private opinion, which may differ from yours. At the same time, the author’s approach involves the search for connections not only technical, but also social factors that influence the development of the project.

First of all, you need to start with general indicators. We will compare with the projects available on the market, since without this kind of analytics, an objective assessment of existing data will not work.

Total value locked (TVL) is the overall value of crypto assets deposited in a decentralized finance (DeFi) protocol — or in DeFi protocols generally. It has emerged as a key metric for gauging interest in that particular sector of the crypto industry.

Obviously, this indicator is one of the key ones for any DeFi project. If we take all existing ENM-compliant networks, we get an idea of how small a part Saddle occupies in the system. This is not surprising, considering how many projects have been hitting the market lately.

We will consider individual projects, as this will bring objectivity to the study. Obviously, it does not make sense to touch the top protocols, but I will mention them in order to have an understanding of what amounts of funds we are talking about.

We can find Saddle in the top 100, which already speaks of the significance of the project. In my opinion, the products that Saddle offers in the near future will double TVL, reaching the level of ORCA and CREAM. Considering that ORCA — is one of the top projects on Solana and Cream is a multi-chain project, we can expect a significant increase in funds in the Saddle protocol after the recent decision to deploy the protocol on the Cosmos network.

Ultimate solutions such as the 4-coin stablecoin pool — is a serious competitive advantage, which, as I see it, will force some of the DeFi capital to flow to Saddle.

What can we say if Saddle overtakes TVL Fantom. The current development paradigm of the cryptocurrency space is more focused on cross-chain activity. Users strive to create liquidity and make a profit not limited to one blockchain. This fact should be taken into account in the further development of the project. Obviously, the current development on the same network reduces the chances of any project getting into the big leagues of DeFi.

Cumulative volume is simply a running total of volume. If the market goes up, then that volume is added to the total. If the market goes down, then the volume is subtracted from the total. Overlay the result on a simple price chart, something most commercial software packages can do, and supply and demand can be readily seen.

Seeing the cumulative volume reaching 1.5 billion over the course of a year (approximately), we can say that the project has grown for the general public, however, objectively, in the upcoming 2021 DeFi rise, we are seeing a lot of projects causing a stir. In other words, it is important to look at how much will be received in the coming 2022. At the beginning of the year, we observe a fall in the market, which is also associated with a fall as a result, in classical finance.

In order to say with confidence that the cumulative volume is high, it is also necessary to have a place for another indicator.

Here we come to the conclusion that the project has not captured enough market share. Practically 10K unique addresses — this is not the amount that a large project should count on. Of course, if we analyze the average amount of money deposited per address, then we come to the conclusion that on average each unique wallet contributed about $23K to the project. I would venture to suggest that this is not the case, for several reasons:

1. If the investment in the project by a single participant was 20–25 thousand dollars, then the hype around the project would be much higher, which in any case would lead to an influx of additional audience with smaller banks.

2. Such TVL can be given to the project to a greater extent by whales. Further in the work, we will try to find direct or indirect confirmation of this assumption.

Further in the work, we will consider the liquidity in the project in the context of alETH. It is interesting to turn to the process of changing the volumes of WETH and alETH. At its peak, WETH reached almost half of all ETH liquidity, however, at the moment, we see that alETH largely dominates the rest of the positions. Also in October, we may notice a significant outflow of liquidity from the project.

TVL is almost 50 million. In addition, the distribution of SDL per day in this pool is the maximum. Despite the low APY, providing liquidity to this pool looks justified.

Positive liquidity dynamics in these assets, especially after a significant drop after October 2021, indicates an increase in interest in D4. It is also worth paying attention to the order of volumes, which is approaching 100 million. There is every reason to believe that this liquidity pool is a priority for the protocol, especially if other pools are considered.

Obviously, this pool is the most popular because of its conditions. D4 is the most attractive of the pools, especially when looking at APR (compared to the rest of the Saddle).

Pool with BTC is not a good solution due to zero APY. This is reflected in the decrease in volumes in the pool. It can be assumed that liquidity may flow to other pools.

Fairly low volumes with an unstable amount of liquidity. At the same time, the situation has stabilized in recent months. I can assume that there are big players in the pool.

In my opinion, it makes no sense to consider this pool, since it is closed, however, the pool chart indicates that a large player could test it for several months.

Liquidity in this pool is also decreasing, however, I attribute the decrease in volumes in the previous BTC pool to the opening of a new one, where liquidity gradually flowed. It is currently interesting to see how this pool will function and if it can maintain the current APR.

Large volumes for earning SDL — is what attracts in the pool. You can also see how the amount of funds in the pool is gradually changing towards growth. We will not talk about other pools, since in my opinion they are of the least interest. Although you are free to disagree with me.

Peak activity in terms of volume falls on January 2022. As for the rest, we can pay attention to a certain cyclicity in the change in volumes. At the same time, each new cycle as a whole is larger than the previous one in terms of volume. If this trend continues and is supported by high-quality news background, as well as the market picture, then we can definitely expect an increase in both weekly and monthly volumes in Saddle.

In my opinion, you can look at this chart in order to understand the volumes that rotate in the project. Especially, pay attention to January, the same LUSD at its peak is listed on the volume of $20 million. Private investors? I don’t think so.

Weekly commissions as a whole only confirm the assumptions made in the volumes in the charts earlier. I like that this statistic correlates with USD volumes.

And here, pay attention to the fact that the last burst of activity in the project is not associated with an increased number of users, but is associated with the volume of individuals, in other words, whales. For me, this is a good indicator. If major players enter the project, then we should expect further growth of interest on the part of the average user.

We can draw some simple conclusions and a number of complex assumptions that are formed on the basis of the analyzed information.

I think that Saddle focuses on a number of pools and develops quite organically. In order to earn in the pool, you really need to invest a significant amount. However, such pools are quite reliable, especially with stablecoins. It is extremely interesting to see how the project will develop. Cooperation with EVMOS and development in this direction can actually attract a large number of new users and increase the already good financial performance.

In this article, we will turn to the technical side of the issue and analyze the current state of the project from a technical point of view, determine the prospects for the development of Saddle and those aspects that need to be finalized in the future.

We will rely on the statistics presented on the Dune website. https://dune.com/alphast0rm/Saddle

Many thanks to https://dune.com/alphast0rm for the information provided. Without her, this analysis simply would not have happened.

It is important to understand that all the conclusions that are given in this study are private opinion, which may differ from yours. At the same time, the author’s approach involves the search for connections not only technical, but also social factors that influence the development of the project.

First of all, you need to start with general indicators. We will compare with the projects available on the market, since without this kind of analytics, an objective assessment of existing data will not work.

Total value locked (TVL) is the overall value of crypto assets deposited in a decentralized finance (DeFi) protocol — or in DeFi protocols generally. It has emerged as a key metric for gauging interest in that particular sector of the crypto industry.

Obviously, this indicator is one of the key ones for any DeFi project. If we take all existing ENM-compliant networks, we get an idea of how small a part Saddle occupies in the system. This is not surprising, considering how many projects have been hitting the market lately.

We will consider individual projects, as this will bring objectivity to the study. Obviously, it does not make sense to touch the top protocols, but I will mention them in order to have an understanding of what amounts of funds we are talking about.

We can find Saddle in the top 100, which already speaks of the significance of the project. In my opinion, the products that Saddle offers in the near future will double TVL, reaching the level of ORCA and CREAM. Considering that ORCA — is one of the top projects on Solana and Cream is a multi-chain project, we can expect a significant increase in funds in the Saddle protocol after the recent decision to deploy the protocol on the Cosmos network.

Ultimate solutions such as the 4-coin stablecoin pool — is a serious competitive advantage, which, as I see it, will force some of the DeFi capital to flow to Saddle.

What can we say if Saddle overtakes TVL Fantom. The current development paradigm of the cryptocurrency space is more focused on cross-chain activity. Users strive to create liquidity and make a profit not limited to one blockchain. This fact should be taken into account in the further development of the project. Obviously, the current development on the same network reduces the chances of any project getting into the big leagues of DeFi.

Cumulative volume is simply a running total of volume. If the market goes up, then that volume is added to the total. If the market goes down, then the volume is subtracted from the total. Overlay the result on a simple price chart, something most commercial software packages can do, and supply and demand can be readily seen.

Seeing the cumulative volume reaching 1.5 billion over the course of a year (approximately), we can say that the project has grown for the general public, however, objectively, in the upcoming 2021 DeFi rise, we are seeing a lot of projects causing a stir. In other words, it is important to look at how much will be received in the coming 2022. At the beginning of the year, we observe a fall in the market, which is also associated with a fall as a result, in classical finance.

In order to say with confidence that the cumulative volume is high, it is also necessary to have a place for another indicator.

Here we come to the conclusion that the project has not captured enough market share. Practically 10K unique addresses — this is not the amount that a large project should count on. Of course, if we analyze the average amount of money deposited per address, then we come to the conclusion that on average each unique wallet contributed about $23K to the project. I would venture to suggest that this is not the case, for several reasons:

1. If the investment in the project by a single participant was 20–25 thousand dollars, then the hype around the project would be much higher, which in any case would lead to an influx of additional audience with smaller banks.

2. Such TVL can be given to the project to a greater extent by whales. Further in the work, we will try to find direct or indirect confirmation of this assumption.

Further in the work, we will consider the liquidity in the project in the context of alETH. It is interesting to turn to the process of changing the volumes of WETH and alETH. At its peak, WETH reached almost half of all ETH liquidity, however, at the moment, we see that alETH largely dominates the rest of the positions. Also in October, we may notice a significant outflow of liquidity from the project.

TVL is almost 50 million. In addition, the distribution of SDL per day in this pool is the maximum. Despite the low APY, providing liquidity to this pool looks justified.

Positive liquidity dynamics in these assets, especially after a significant drop after October 2021, indicates an increase in interest in D4. It is also worth paying attention to the order of volumes, which is approaching 100 million. There is every reason to believe that this liquidity pool is a priority for the protocol, especially if other pools are considered.

Obviously, this pool is the most popular because of its conditions. D4 is the most attractive of the pools, especially when looking at APR (compared to the rest of the Saddle).

Pool with BTC is not a good solution due to zero APY. This is reflected in the decrease in volumes in the pool. It can be assumed that liquidity may flow to other pools.

Fairly low volumes with an unstable amount of liquidity. At the same time, the situation has stabilized in recent months. I can assume that there are big players in the pool.

In my opinion, it makes no sense to consider this pool, since it is closed, however, the pool chart indicates that a large player could test it for several months.

Liquidity in this pool is also decreasing, however, I attribute the decrease in volumes in the previous BTC pool to the opening of a new one, where liquidity gradually flowed. It is currently interesting to see how this pool will function and if it can maintain the current APR.

Large volumes for earning SDL — is what attracts in the pool. You can also see how the amount of funds in the pool is gradually changing towards growth. We will not talk about other pools, since in my opinion they are of the least interest. Although you are free to disagree with me.

Peak activity in terms of volume falls on January 2022. As for the rest, we can pay attention to a certain cyclicity in the change in volumes. At the same time, each new cycle as a whole is larger than the previous one in terms of volume. If this trend continues and is supported by high-quality news background, as well as the market picture, then we can definitely expect an increase in both weekly and monthly volumes in Saddle.

In my opinion, you can look at this chart in order to understand the volumes that rotate in the project. Especially, pay attention to January, the same LUSD at its peak is listed on the volume of $20 million. Private investors? I don’t think so.

Weekly commissions as a whole only confirm the assumptions made in the volumes in the charts earlier. I like that this statistic correlates with USD volumes.

And here, pay attention to the fact that the last burst of activity in the project is not associated with an increased number of users, but is associated with the volume of individuals, in other words, whales. For me, this is a good indicator. If major players enter the project, then we should expect further growth of interest on the part of the average user.

We can draw some simple conclusions and a number of complex assumptions that are formed on the basis of the analyzed information.

I think that Saddle focuses on a number of pools and develops quite organically. In order to earn in the pool, you really need to invest a significant amount. However, such pools are quite reliable, especially with stablecoins. It is extremely interesting to see how the project will develop. Cooperation with EVMOS and development in this direction can actually attract a large number of new users and increase the already good financial performance.