TLDR:
- Intensity Labs, the developer behind Shogun, raised $6.9 million in a seed funding round, valuing Shogun at $69 million.
- Shogun is an intent-centric DeFi protocol focused on maximizing trader extractable value using a unique liquidity routing model.
Article Summary:
Intensity Labs, the company behind the intent-centric DeFi protocol Shogun, recently completed a seed funding round, raising $6.9 million. This funding round, which was led by Polychain Capital and DAO5, brought Shogun’s valuation to $69 million. The project experienced high demand during the fundraising process, ultimately raising more capital than initially planned.
Shogun aims to maximize trader extractable value (TEV) by proactively routing liquidity through a hybrid model of intent-based fulfillment. The protocol plans to provide users with a platform where they can access every token on every blockchain without the need for multiple wallets or accounts. Shogun’s co-founder, Brandon Comer, likened the project to a web3 version of fintech giant Plaid, making DeFi accessible to non-crypto companies.
The launch of the Shogun protocol will happen in phases, with the on-chain routing tool set to be released in the second quarter of the year. The project will also introduce its native token, GUN, and develop interfaces for various ecosystems, including Berachain and the Cosmos ecosystem.
Intensity Labs plans to expand its engineering team to support the development of Shogun and the integration of various networks. With ten current team members, the company anticipates hiring more individuals to facilitate the growth and adoption of the Shogun protocol.
