SIP-X: Tokenswap with Sperax

SIP: Co-authored with Sperax


Exchange 2,000,000 $SDL for 5,000,000 $SPA, both teams will lock their received tokens for 4 years.


This SIP seeks to strengthen the partnership between Saddle and Sperax by way of a tokenswap between our protocols.


Since SIP-5, Saddle and Sperax have collaborated to bring deep liquidity to the popular $USDs token and broader Arbitrum market. A tokenswap would stand to tighten the bond between our protocols, and give Sperax the power to vote in Saddles gauges– furthering the incentive for Sperax users to continue supporting the liquidity of $USDs.

In addition to deepening the relationship between both protocols, this swap and locking of SDL would further diversify the nascent veSDL voting blocks, strengthening the veSDL voting community.

By acquiring SPA the Saddle community can stake this for veSPA. This allows holders to govern the $USDs collateral pool, unlocking the ability to vote on collateral investment strategies. For this, stakers are paid a revenue split from the yield generated and all protocol fees. This collateral can be deployed to Saddle to boost TVL. Once the Demeter protocol is launched, veSPA holders will also control the gauge. Directing SPA emissions to desired trading pairs.


Transfer 2,000,000SDL from multisig: 0x3F8E527aF4e0c6e763e8f368AC679c44C45626aE, to multisig: 0xD95791bcab484C0552833cB558d18d4D3F198AF9

Use Hedgey.Finance to execute the swap.

Swap to be executed 48 hours after the passing of this SIP.


  • For: Enter into a tokenswap agreement with Sperax.
  • Against: No change.

0 voters


Amazing! DAO leadership demonstrated by 2 of the finest teams in Web3.

Couldn’t be more happy to see this, excited for the future! :cowboy_hat_face:


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