Shogun raised $6.9M in seed funding

Published on: 20.05.2024
Shogun raised $6.9M in seed funding

Shogun raised $6.9M in the seed funding round. Shogun is an intent layer for the Interchain. Its vision is to accelerate the adoption of DeFi by providing a user experience in which no user ever needs to worry about chains, gas, or wallets again. Its SDK provides structured rails to move to and from any token on any chain.

Shogun will support EVM, Cosmos, SolanaVM, and MoveVM execution environments. This includes Berachain, Ethereum, Solana, Neutron, and Celestia.

The Shogun platform offers auth functions, in-app wallet-building abilities, node services, and so much more in addition to all your DeFi basic needs, such as swaps & bridging!

Polychain Capital and DAO5 co-led the funding round, joined by Arrington Capital, Arthur Hayes’ family office Maelstrom, and Build-a-Bera, Intensity Labs announced on Wednesday. The round also saw participation from angel investors such as Cobie, Ansem, Ser Shokunin, and Meltem Demirors.

Shogun was previously incubated by Binance Labs. In March of this year, the crypto exchange’s venture capital and incubation arm invested in Shogun, alongside six other startups, as part of its incubation season 6 program

The Shogun protocol will be released in phases, starting with its on-chain routing tool in the second quarter of this year. The protocol will also have its own token with the ticker GUN as reported by The Block.

Shogun is also developing multiple interfaces for Berachain, the Cosmos ecosystem, and Intensity Labs’ own cross-chain Telegram trading bot, Shogun Oakmont. This bot will allow traders to trade “any asset on any chain with any token.”

“Shogun is excited to work with its partners and community to redefine the future of on-chain interactions.”

Shogun Finance is at the forefront of the DeFi landscape. With its Decentralized Interchain Market Maker (DIMM), Shogun is eliminating the complexities of cross-chain bridging and liquidity management. DIMM’s automated logic for dynamic rebalancing strategies, powered by IBC and interchain accounts. It offers a superior user experience for both traders and liquidity providers. Shogun is not just a protocol; it’s an ecosystem enhancer, bringing best-in-class execution to networks like Cosmos, Celestia, and more.

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