Express

This Trader Grabs $150,000 on Saddle Finance Via Synthetic BTC Swap Transactions

Mary Liu

Summary: One trader makes an arbitrage of $150,000 through synthetic Bitcoin swap transactions on Saddle Finance, a decentralized financial platform that focuses on exchanging pegged digital assets, according to the data from Etherscan. The user used 0.34 sBTC (Synthetix's Bitcoin-pegged token) in exchange for 4.36 WBTC (BitGo's Bitcoin-pegged token) and obtained a return of nearly 13 times. Saddle Finance ...

One trader makes an arbitrage of $150,000 through synthetic Bitcoin swap transactions on Saddle Finance, a decentralized financial platform that focuses on exchanging pegged digital assets, according to the data from Etherscan.

The user used 0.34 sBTC (Synthetix's Bitcoin-pegged token) in exchange for 4.36 WBTC (BitGo's Bitcoin-pegged token) and obtained a return of nearly 13 times.

Saddle Finance is supported by many well-known venture funds, such as Framework Ventures, Polychain Capital, Dragonfly Capital, Coinbase Ventures, Alameda Research, etc.

By Mary Liu

  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 4 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 6 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 8 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 11 days ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 12 days ago
  • You need to login to comment.