Geode Finance announced this Wednesday, January 19, through its Twitter account, its new partnership with Saddle Finance, providing Saddle with its own ETH2 staking solution. Additionally, he reported that Geode & Saddle will be hosting a Twitter Spaces event on Friday, January 21 at 12 p.m. m. PST.
“GEODE Finance’s goal of creating the liquid share universe is only possible with partnerships that expand the reach of our ecosystem. That is why we are proud to announce our first partnership with Saddle Finance!”, he said through an article published on the Medium platform.
According to the company, Saddle Finance is a decentralized AMM (automated market maker) specifically dedicated to trading low slippage pegged assets such as tokenized Bitcoin (wBTC/renBTC), and stablecoins such as USDT/USDC/DAI. Saddle Exchange will have its own version of wETH2, offering Saddle users a new way to get a return on their ETH. Saddle will use Geode’s ETH2 staking solution to allow its users to stake their ETH. You will also be able to LP your Saddle-wETH2 in your liquidity pools for additional APY.
In his opinion, the Saddle of ETH and Saddle-wETH2 liquidity pool, through deposits from retail participants, will facilitate transfers between ETH and wETH2 tokens within the geode ecosystem. You will be able to trade between different versions of wETH2 on GeoDex, Geode’s liquidity pools.
The company highlighted that this partnership will attract new users to Saddle pools, generate revenue, and make Saddle Finance the cornerstone of Geode’s liquid staking ecosystem, allowing users to trade between various wETH2 tokens and the base asset, ETH within the GEODE ecosystem.
In the same way, he assured that GEODE brings the participation of ETH2 to Saddle Finance, adding value and additional performance to its users and investors. Finally, and most importantly, Saddle’s creation of the wETH2 token and its participation in the Geodes ecosystem signifies its dedication to its mission of continued decentralization of the Ethereum network.