Shield Finance is addressing the segment of deposit insurance in decentralized financial protocols (DeFis). The project has announced the completion of the strategic funding round.
Shield Finance secures $780,000 in funding
According to the press release shared with U.Today, Shield Finance (SHLD) protocol tasked with building DeFi insurance instruments, has successfully completed the funding round.
The round was lead by top venture capitalists, including Master Ventures / PAID Network, DAO Maker, Zokyo, NGC Ventures, Spark Digital Capital, GD10.Ventures, Titan Ventures and others.
Working across Polkadot, Ethereum, Binance Smart Chain and Solana blockchain, Shield Finance (SHLD) protects DeFi users from 'rug pulls', exit scams, liquidity spikes, market crashes, etc.
As such, Shield Finance (SHLD) promotes itself as a 'Skyscanner' for DeFi insurance that eliminates the need for manual browsing through the best offerings on the turbulent market.
Approaching IDO of SHLD token on PAID Network launchpad
Denis Gorbachev, CEO of Shield Finance, outlines the importance of this fundung round for the growth of project, its community and ecosystem:
Insurance plays an important role in DeFi as a way to de-risk your investments. With a number of insurance players in the market, a multi-chain insurance aggregator will naturally attract users as a go-to place to buy insurance. This fundraise will be instrumental in driving the growth and development of Shield Finance
Public tokensale of SHLD will be the next stage of Shield Finance fundraising. For the SHLD IDOm, Ignition Launchpad by PAID Network has been chosen.
SHLD token will be avaliable for staking. Also, its holders will be eligible for 'buy and burn' programs: SHLD asset is promised to be deflationary from day one.