Saddle Launches Governance token $SDL to Airdrop 15% of Total Supply to Users

TokenInsight news, automated market maker project Saddle announced the release of governance token $SDL. $SDL has a maximum supply of 1 billion tokens, 51% of which will be released to Saddle community members, of which 15% (150 million) have been allocated to Saddle historical users (tokens released over 2 years ago), and the airdrop is open to historical liquidity providers (10.5%), veCRV holders (3%), interactive addresses that invoked the Saddle contract and traded over $100 before October 1 of this year (0.5%), Multisig signatories (0.5%) and early depositors (0.5%). Currently eligible users can claim $SDL tokens, which are airdrop tokens that cannot be transferred for an initial period of 3 to 6 months, after which transfers can be enabled by governance vote with a two-year unlock period. In addition, Saddle will distribute 22.5% of the tokens to investors, 25.9% to team members and 0.6% to advisors. Previously, in the middle of this month, Saddle announced the closing of a $7.5 million funding round led by Polychain and Electric Capital, with participation from Nascent and Project Galaxy, among others.