DeFi
Shogun Intent-Centric DeFi Protocol Raises $69 Million in Funding
Intent-centric DeFi protocol Shogun recently secured $6.9 million in a seed funding round
Intensity Labs, the innovative force behind intent-centric DeFi protocol Shogun, recently secured $6.9 million in a seed funding round. This impressive funding round was co-led by industry giants Polychain Capital and DAO5, with additional participation from notable investors such as Arrington Capital, the family office of Arthur Hayes, Maelstrom and Build-a-Bera. Angel investors, including the likes of Cobie, Ansem, Ser Shokunin, and Meltem Demirors, also joined the round, demonstrating broad confidence in Shogun’s potential to transform the DeFi landscape, reported by The Block.
Context and fundraising journey
Intensity Labs launched its fundraising efforts in January of this year, aiming for a goal of $5 million. However, the round quickly became oversubscribed in mid-February due to high demand, prompting the team to raise the target to the newsworthy figure of $6.9 million. Co-founder Rahul Patel called the round “oversubscribed” and noted that it was structured as a simple share for future (SAFE) agreement with token warrants, leading to a fully diluted token valuation of 69 million of dollars.
Shogun was previously incubated by Binance Labs, which invested in the project as part of its Season 6 incubation program. This early support from Binance Labs provided Shogun with a solid foundation to attract new investment and momentum. development.
What is Shogun?
Shogun is an innovative DeFi protocol designed with a specific goal: maximizing trader extractable value (TEV). TEV represents the maximum potential profit that traders can extract through various trading strategies. Shogun achieves this by routing liquidity through a hybrid model, combining intent-based execution through market makers and centralized exchanges with on-chain execution for long-tail assets through decentralized exchanges and vaults. strong liquidity liabilities.
Intention-centered approach
Shogun’s intent-centric approach sets it apart from other DeFi protocols. By focusing on traders’ specific intentions, Shogun optimizes trading strategies to extract maximum value. This proactive liquidity routing not only improves traders’ profitability, but also improves overall market efficiency.
Full access to the platform
One of the most notable features of Shogun is its promise to provide users with a single platform to access every token on every blockchain. This seamless integration eliminates the need for multiple wallets or accounts on different chains, providing a unified interface for all trading activities. According to Brandon Comer, co-founder of Intensity Labs, users can trade through a variety of options, including a trading bot, desktop/mobile UI, and trading widgets hosted on other apps.
Shogun: the Web3 plaid
Brandon Comer compares Shogun to fintech giant Plaid, but for the Web3 ecosystem. Just as Plaid revolutionized fintech by connecting all banks together and enabling greater interactivity with personal finance, Shogun aims to achieve similar integration in the Web3 space. Shogun provides a Web3-as-a-Service (WaaS) platform, allowing non-crypto businesses to easily integrate DeFi functionality into their applications with minimal effort.
Ecosystem integration and support
Shogun’s abilities go beyond simple integration. It allows any application to deploy its own cross-chain trading aggregator, similar to Solana-based Jupiter, but on a larger scale. This feature has attracted interest from several ecosystems, including Boopiter, a meme version of Jupiter for the Berachain ecosystem, and the Cosmos ecosystem via their Interchain Info service. Shogun is also in discussions with other major ecosystems within EVM L2, MoveVM, etc., demonstrating its broad appeal and applicability.
Launch and Tokenomics
Shogun’s launch will be done in stages, starting with its on-chain routing tool in the second quarter of this year. The protocol will feature its token, GUN, which will play a crucial role in the functionality and governance of the ecosystem.
Multiple interfaces and tools
Shogun is not just a single platform; it develops several interfaces to meet the different needs of users and ecosystems. These include:
Berachain Integration: An interface dedicated to the Berachain ecosystem.
Cosmos Ecosystem Support: Integration with the Cosmos Ecosystem via Interchain Info.
Shogun Oakmont: a multi-chain Telegram trading bot that allows traders to trade any asset on any chain with any token.
These diverse interfaces highlight Shogun’s flexibility and commitment to providing comprehensive DeFi solutions across different platforms and user preferences.
Team and future plans
Intensity Labs currently employs ten people and plans to expand its engineering department to support Shogun’s continued growth and development. This expansion will allow the team to improve Shogun’s capabilities and integrate with more networks, strengthening its position in the DeFi space.
Strategic partnerships and collaborations
The success of the seed funding round and the broad range of participating investors underline the confidence in Shogun’s potential. Support from notable companies and angel investors provides Intensity Labs with the resources and network needed to drive the development and adoption of Shogun.
Vision for the future
Rahul Patel and Brandon Comer presented an ambitious vision for Shogun. By creating a transparent, intent-centered DeFi protocol, they aim to transform the way traders interact with decentralized finance. The goal is not only to maximize TEV, but also to provide an unparalleled user experience that simplifies cross-chain trading and improves market efficiency.
Intensity Labs, with its innovative Shogun protocol, is poised to make a significant impact on the DeFi landscape. The recent $6.9 million seed funding round, led by prominent investors and angel investors, reflects the firm belief in Shogun’s potential to revolutionize the industry. By focusing on maximizing extractable value for traders and providing seamless cross-chain trading capabilities, Shogun offers a unique and powerful solution for the DeFi community.
As Shogun continues to develop and launch its features, it will be interesting to see how it shapes the future of decentralized finance. With a clear vision, strong financial backing, and a dedicated team, Intensity Labs is well-positioned to lead the way in creating a more integrated and efficient DeFi ecosystem.