Quick take:
- The oversubscribed round was structured as a simple agreement for future equity (SAFE) with token warrants.
- The company is building a DeFi protocol that focuses on maximising trader extractable value (TEV).
- Shogun plans to release its on-chain routing tool in the second quarter of this year alongside its native token GUN.
Intensity Labs, a crypto trading company leveraging multiple liquidity sources to give traders the best available rates has completed a $6.9 million seed round led by Polychain Capital and DAO5.
The oversubscribed round also attracted participation from Arrington Capital, Arthur Hayes’ family office Maelstrom and Build-a-Bera, with Cobie, Ansem, Ser Shokunin and Meltem Demirors joining as angel investors.
The fundraising was structured as a simple agreement for future equity (SAFE) with token warrants, co-founder Rahul Patel told The Block.
Intensity is building Shogun, an intent-focused DeFi protocol, which Patel says has the specific ‘intent’ of maximising trader extractable value (TEV).
According to Intensity Labs, Shogun “maximises TEV by proactively routing liquidity through a hybrid model of intent-based fulfilment through market makers and centralised exchanges, combined with on-chain fulfilment for long-tail assets through decentralised exchanges and passive liquidity vaults,” The Block reported.
Patel said the platform allows users to access “every token” on “every blockchain”, eliminating the need for different wallets or accounts for different chains. “it’s all one interface,” he said.
Traders can also explore multiple trading tools and features including the company’s trading bot, desktop/mobile UI and trading widgets hosted on other apps.
Patel likens Shogun to the Plaid (the fintech app) for Web3, adding that “any non-crypto company will be able to add DeFi to their apps with little to no effort.”
This announcement comes ahead of Intensity Labs’ planned release of its on-chain routing tool in the second quarter of this year. The company also plans to launch a native token under the ticker symbol $GUN.
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