Some things are better left alone.
Why fund a fork with zero innovation?
This industry is still so young and there is so much we haven’t yet built, why spend time and money on copying an existing product without adding any value?
Fast forks are understandable when done by small teams - often anonymous developers just looking for fast cash. However, this was a heavily funded and promoted project that offered nothing new to the community.
Raise $4.2m, copy the code from Curve, and get rekt.
If you fully understand the maths behind Curve Finance, you have the power to build tools that push forward the technological progress of the human race. So why imitate?
If you don’t fully understand the maths behind Curve Finance, why imitate?
If you have enough funding to become a VC firm, you have enough cash to invest in projects that offer something new to the world. So why fund a fork?
Any investor that backed this project values profit over progress.
This includes new (and old) media companies, who took money from Saddle in exchange for promotional pieces. We know it’s hard to start a business and you have to take the work when it’s offered, but please consider your reputation...
At least three major arbs took over 7.9 BTC ($275,735) from the early liquidity providers within 6 minutes.
4.01 BTC $139,961 Jan-19-2021 04:06:54 PM +UTC
0.79 BTC $27,573 Jan-19-2021 04:08:46 PM +UTC
3.11 BTC $108,548 Jan-19-2021 04:12:37 PM +UTC
Users who deposited into Saddle Finance in the hour after their launch will never get out as much as they put in, they can only hope that the liquidity rewards are generous...Source