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Venture-Backed Saddle Finance Proposes Wind-Down, Dissolution

Ethereum-based crypto trading protocol Saddle Finance is moving to shut down operations and distribute its treasury to investors. Saddle’s founder Sunil Srivatsa on Tuesday proposed the group liquidate its treasury into Arbitrum (ARB) tokens and airdrop the proceeds to holders of Saddle’s SDL and veSDL tokens, with veSDL holders getting four times as big an allocation. The snap poll comes after the monumental hack of decentralized exchange (DEX) giant Curve last month. Saddle Finance offers a similar feature set to Curve and previously faced allegations of cloning Curve's codebase. Saddle previously raised over $10 million from venture backers.

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