Intensity Labs, the developer of the 'intent-centric' DeFi protocol Shogun, has raised $6.9 million in a seed funding round.
Intensity Labs, the developer of the "intent-centric" DeFi protocol Shogun, has raised $6.9 million in a seed funding round.
The funding round was structured as a simple agreement for future equity with token warrants, Patel said, bringing Shogun's fully diluted token valuation to $69 million. Shogun will provide users with one platform on which they will have access to every token on every blockchain, Patel said. "You won't need different wallets or accounts for different chains; it's all one interface," he said. "They can trade through a plethora of options: our trading bot, desktop/mobile UI, as well as our trading widgets hosted on other apps."
"Multiple ecosystems have expressed an interest in this functionality," Patel said. "The first is Boopiter, a meme-ified version of Jupiter dedicated to the Berachain ecosystem. The Cosmos ecosystem will be hosting one through their Interchain Info service. We're also in talks with other major ecosystems within EVM L2s, MoveVM, and more," he added. The Shogun protocol will be released in phases, starting with its on-chain routing tool in the second quarter of this year.
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