$SBR | Saber | Published Nov 26, 2023
Website link: https://saber.so/
Saber is a decentralized AMM DEX on Solana focused on stable swaps (stablecoins and liquid staking derivatives). This is similar to Curve Finance on Ethereum.
Saber currently has TVL of roughly $12M and a fully diluted valuation of $5.7M.
During the 2021 bull market, it reached a market cap of > $125M.
The token price crashed hard in the wake of the bear market, the FTX collapse, and a DOJ investigation into the founders.
Now, the project has been taken over by new leadership in the form of a DAO: https://twitter.com/The_Saber_DAO
1) The Solana app layer remains undervalued and is likely to see liquidity flow into it as long as SOL price remains elevated.
2) At a <$10M valuation, a stablecoin DEX on Solana has a lot of potential room to run should they attract enough TVL and usage.
3) $SBR has a listing already on Kraken, a large tier 1 exchange which makes $SBR available to the masses compared to many Solana coins that are only available through on-chain DEXes.
- Obviously, if this bullish market rolls over, low cap tokens like $SBR will not fair well.
- The new DAO running this project may or may not be effective in gaining traction and attracting users and liquidity.
- Please note that micro cap tokens like $SBR can regularly experience 50% - 75% drawdowns in price.
$SBR can be purchased on Kraken or jup.ag:
(token address: Saber2gLauYim4Mvftnrasomsv6NvAuncvMEZwcLpD1)
Due to low liquidity, if you plan to buy more than $500 or so, consider using the DCA function on Jupiter to spread out your buys to lessen price impact and slippage.