May 11, 2021 – Chiang Mai, Thailand
Shield Finance, a multi-chain DeFi insurance aggregator that will deploy across the Polkadot, Ethereum, Binance Smart Chain and Solana blockchains, announced today the completion of their private fundraising rounds, having successfully reached the hard cap amount of $780,000 from private investors.
Shield Finance’s potential, combined with its seasoned team, attracted immense support from industry innovators, including the below and more.
The decentralized finance movement has been growing exponentially over the past year, jumping from $700 million by December 2019, to $65 billion as of April 2021. DeFi gives users full control over their money and financial future but this freedom comes with some drawbacks.
As thousands of retail investors enter the attractive DeFi marketplace, there are a variety of risks they have to take into consideration, including market crashes, price volatility and security issues. Until only recently, DeFi has lacked any insurance options to give users peace of mind when investing in these new financial products his is about to change.
Shield Finance is a DeFi insurance aggregator that aims to protect token investments from hacks, rug pulls, market crashes and other DeFi-related risks. It does this through a proprietary aggregation engine that provides custom insurance packages for investor needs. Shield Finance could be referred to as the Skyscanner for DeFi insurance. Users can see and select offers from multiple insurance providers without leaving the token platform.
Denis Gorbachev, CEO of Shield Finance, said,
“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 fundraiser will be instrumental in driving the growth and development of Shield Finance.”
Shield Finance aims to dominate the cryptocurrency insurance market by partnering with DeFi exchanges, wallets and farms. Shield Finance’s goal in doing so is twofold to ensure DeFi insurance purchasing is easy and simple and to offer the cheapest DeFi insurance packages on the market.
As the Shield Finance platform launches, more exciting features will be released, including a web app, increased partnerships and integrations with insurance providers and DeFi platforms including exchanges, wallets and farms.
Shield Finance expects development of the platform to be complete some time after its public IDO launch on industry driving PAID Network’s crowdfunding platform, Ignition Launchpad. Operating as a decentralized swapping protocol, Ignition allows blockchain-based token projects to offer their private and public auctions to participants, leveraging both PAID Network and Polkadot technology. Capitalizing on PAID Network’s community strength and the popularity of the Ignition Launchpad platform, the success of Shield Finance’s public IDO is all but certain.
Shield Finance’s IDO is set to take place May 19, 2021 on PAID Network’s Ignition Launchpad at 11:00 AM UTC.
Shield Finance is a multi-chain DeFi insurance aggregator that allows users to buy protection against major market crashes due to black swan events, like hacks, exploits, rug pulls and sell-offs. Incubated by Master Ventures (MV Fuel), Shield utilizes a proprietary aggregation engine to provide custom insurance packages for investor needs. The $SHLD token enables governance and provides staking rewards at 30% stable APY; however, the most important feature of the $SHLD token is the “buy and burn” program. Every quarter, it redirects 50% of fees generated by users to buy the $SHLD token on the open market and burns it, which results in permanent reduction of supply.
Denis Gorbachev, CEO of Shield Finance
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